Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1866-01-04

1HNAElfEs 1t HNAA
Great stress is usually laid upon the
extent Of our yet un0ceupied sand, the
vast deposits of fuel and metals under
our soil, and of u growing population.
Yet we find Ia Russia, Turkey, Canada,
Mexico, South America and Ireland,
countries where the land has thesmallest
money value and where labor is nearest
the slave. So in the Southern States,
land is the cheapest, capital less
increased, interest high and labor
degraded. In New England We
find land scarce, man free, capital
plenty, interest lower. Compare Bel
GUM and Ireland. IN one, land is a
higher price than elsewhere in Europe
and money az the lowest interest in the
other capital is scarce, labor akin TO sia-
very. Compare France and Turkey with
Empires Of about equal natural advanta-
yes vet land in the former Is high, cap
ital abundant in the latter, with its eli
mate and mining ores, has a depressed
labor. land low, capital scarce and inter-
est high. So Of Germany. Forty year
since she exported wool and rags and
imported cloth and paper them her peo-
ple were Door, her lands low and her p0-
sition inferior. Now, she imports both
wool and RAGS and exports cloth N pa
nar is strong and respected, labor has
risen. CAPITAL abounds and interest Is
easy.
From these examples we must conclude
that prosperity does not follow from hbe-
raj natural gifts. They are divisible into
two classes those which export their
crude products, and the other which
import and manufacture them and send
them out to all markets. In the enc case
land is low, capital scarce, labor undig-
Difed: andin the other the reverse. The
same distinctions are to be seen in our
own States. Why is this coincidence?
In the language OF Mr.. Peshine Smith
1.-THE growth OF wealth depends on socie-
tary Circulation. Products are inert be-
tween production and consumption"
Therefore there should be interfuSiOn
OF producers and consumers. They
should be together. We loose the
interest accruing from U oreacstutfs
by having TO wait while they are trans
ferred 70 Manchester or Lyons Tor a con-
sumner: so Of pork, tobacco, beeii rice
and cotton. The amount Of such petri-
fed, Uuyielding capital before the war
must be more than a thousand million.
| Supoose we had had side by side with
Il producers ia tliias Of cotton, wOo!ens
and iron 10 furnish whatever thu farmer
wanted. The interest would have been
saved In nations as in individuals.
I raniditv OF circulation is the true econ
/ omv ofIabor aud means. The waste Of
force in the countries LSFleG cannot be
less than hve-siy& Is il wonderful
! -hat eaDital sboGld be scarce aud interest
high Z? g.,
ffrv-six. charit Die associations were
Feeding thousands Of unemployed me-
| chsn;es and their families. Men and
women were unemployed, mines and
furnaces were stopped, mills u ma
! chine shops CLOSED, and farmers compelled
I TO store their products because 81 low
prices. Two-thirds OF j productive
power was then wasted. estimating the
national labor power at eight million o.
men. aided 6y machinery, and its value
! at Two dollars and = half per head per
/ .Iav. the loss would have been thirteen
million dollars, or four million dollars .
year.
/ hundred and fifty million dollars q year,
but throughout the West il Is destroyed
for want of a market. The manure Of
Engiand is valued at one hundred mil
/ lion pounds; throughout the greater por-
tion of the country IL IS unused, 10 the
GREAT derrimenr Of the soil and the gen
arai health. The mineral constituents Of
one billion five hundred million bushels
OF corn and grain are yearly wasted.
Agriculture is perpetually incorporating
| hitherto useless material. By deep piow-
ing he increases the area Of his
available soil, by draining he adds
to his crops, and by mari and
lime he adds proper consistency 10
his soil. The more he takes from his
land the more he can return Ia il, proyi-
d IA -..-.-HHr# - nErn NrTnTuE Fl-nurE
in vain: but in order to be utilized there
must be diversity Of emplOyments and
associations. But separate producer and
1 consumer and all the mutual require
ments are lost. The time Is wasted for
want OF choice ia emplUyments. He
wastes his RAYS and straw for want Of a
paDsr min. He cuts down forest trees
FOR the ashes. He destroys the fiber Of
! the fax for its seed. He sells his wheat
! in a distant market, as also mis- hogs and
cattle. and thus impOverishes his land.
/ Population really ought to enrich soils.
We have land in abundance ulculti-
waited, timber in abundance unhewD, ores
| in abundance unmiueG and unwroUght
we have plenty of coal, more than all
| Furone combined, with which 10 multi
Div our strength. Why DO we not mine
it2 Because we need capital to sink
shafts and build engines. But, asI hsve
shown. We We're wasting IN petrided cap
ital millions on millions. Look az the
[ results in California and the oil regions,
! Greater still would have been the results
had we mined cur coal and iron instead
I Of paving the way for Southern secession.
! But in . population Of thirty-seven
I million, we have as great q variety Of
mental faculties as faces, a greater va
rieUy than any other people, some being
I suited 10 occupation, u some an
other. There needs to be a variety Of
pursuits to fit them all, instead Of hav-
ing continually the round man in the
square hole, or the square man IN the
round one. For want of the capital re-
naming inert or useless, bearing interest
at the cost Of the producers, the mil, the
mine, the furnace and factory were closet
and al turned 70 live upon the pro-
ducts Of the soil, and thus diminished
or total production. The power OF
accumulation is in proportion TO the
rapidity Of circulation. ~ that time
it was sadly sluggish, and, as /.
told my friends, was costing the country
three billion dollars e year. The waste
was al its height, so far as twenty mill
lions Of the Northern people were conf
eerned. throughout Mr.. Buchanau's
administration. Our exports OF bread
stuffs were not needed in Europe, and
fell of 10 ten million dollars average q
year. Corn was being burned fo- fuel.
LABOR was in excess. and men were seek I
ing employment. Domestic intercourse
was so slight that railroad stocks fell to
an average of about fifty per cent. For
years we had been trying the experiment
how much labor We could employ for The
least result, so that We could hardly Dor
row a hundred millions.
Three-ifths Of the nation, after Mr.. /
Buchanan was unseated, commenced q
work requiring the services Of more than
a million Of men, or more than five per
cent. Of the total population. These She
fed, clothed, transported and cared for in
a manner never before equaled, besides
transporting an enormous amount Of
material which has left "a monument
more wonderful than the Egyptian Pyr-
amids. Whence came the difference?
How came the same people to be able 10
contribute a thousand million q years
The answer is that the conditions Of
National existence hsd wholly changed.
We furnished our own circulation and
markets. For the first time there was
presented a nation in which the de-
mand for labor and all its products went
ahead Of the supply.
Why did life aud energy 50 rapidly
succeed paralysis Not a man before
hand would have forejold that the ab-
.scracti0n of 2 million of men from labor,
30 be fed and clothed, could have pro-
duced these effects. 7 was the FORGE re-
from an activity OF circulation.
existing in despite Of and not in c0nse-
queuccU OF governmental necessities. Sup
pose these millions of men had been :
shafts, mining coal gai ORES, :
combining tho two into al the forms Of ;
iron articles, building houses and facto-
ries with bricks and lumber, and IN fur
supplies of raw material for fur !
mats, coats, plows, spades, axes, :
and 20 building engines, whereby the !
power Of man would have been increased .
MILLIONS OF times! We should have {
produced annually three billion dollars I
our present production, each
Gruishing a market for al the world. =
Whence, then, did it come? From the !
at Chicago six years since by
he great Republican party, Of s. rvsoiu- c
ion 10 the effect that the produce Of the b
should no longer be compelled to
'emain inert and losing interest while
demand In distant markets
That the fuel which lies under our soil {
mould no longer be OVERLAND hv FOREIGN r
aiis, that the coal should strengthen ne
human arms, in fact, that ogI material c
labor and ssill should be developed. s
such is the working Of that triuf resolu- o
ion there adopted, and ratified at the h