Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1867-10-17
CALAMTTOUSs

AIE AMEALNAhNHaL
low rrice Of cotton threatens the planters
and factors of the South with ruin. Las'
vsar. the planters, for the most part
made little more, msny oil them less
than their expenses. Very many OF
them continued in debt, more or less
heavily. to their merchants, for balances
or advances. Those persons from the
North who rented land at high rates and
engaged in cotton-planting were so serl-
ousIv famed by the experiment rs TO De-
come Disguised and retire from the field
70 pursue elsewhere some business IN
which they could see some probability Of
profit.
Much -dishesrtened, the planters nev-
ertheless resolved TO make another effort
Congress refused to relsI its grippe upon
them by repeating the act that obs IAe
nIsuter Of a large per centage Of the
nriee az his cotton. HORACE GREELEY
protested against the repeal Of thetax, on
the ground that the country could not
afford 10 give up the revenue so realized
That the collection Of the tax was a ROD
berry. an open and ~undeniable C9.s% q
Of the Constitution = ,o,, \,
consideration ueseI~ NJ. W. "a. Fl
factors, themselves crr al NJ XII. 8,
advances TO only q limited sd
WAGES Of labour, thanks TO the Freed
mans Bureau, were entirely beyond
ubs+ any plsnter could afford to pay
provisions had to be procured from the
North. and many other Disadvantages
~cgucurred to render a e OF lAe
exusrlment hazardous.
At the present priced Of cotton, the crops
will not pay the expenses Of cultivation.
Asfthas been the purpose and deliberate
intention or Congress to ruin all the
DIaDta-s and landowners OF the South SO
Thai their estates may be sold and divi-
ded in small parcels among many own
era. the result Of this years planting
"a the triumph Of their policy. As little
q, We doubt that it was their purpose 10
mt an end 20 the cultivation OF cotton
Up1n large plantations and TO diminish
a. much as possible its production IL the
south. in order 20 engsEe the freedmen
in other modes Of agriculture. This was
one chief purpose OF the cottoutsZ, "hlch
vyoUld otherwise have been q grossly N
poliric and unwise measure, a. contrary
10 the simplest principles Of political
economy as to the Constitution. we
must Judge Of mems motives by their
scfz The ruin Of the men Of substance
in the south was deemed essential 10 The
success Of the mad experiment Of emaa-
cIuation: and il il cannot be effected
otherwise. c-onhscation viii be resorted
IN not 20 benefit the negro, but that the
lands. divided into small parcels, may
become the property Of immigrants from
the North and Europe and the ola
owners Of the soil cesse to have any OF
that influence ia the country which
wealth always gives to its possessors.
80 f.r ~ concerns the Of lands,
the plan will prove a success. They are
rapidlv being ruined and impoverished
Already these lands are unsaieaDle and
almost worthless, and unimproved tracts
are not worth the taxes, while a large
proportion OF the planters are prepared 10
bsndop the cultivation Of cotton. How
zuccessful the experiment is likely TO
prove In other respects, as for example,
in giving pesce and quiet and content to
the country thus purPosely ruined may
be Guessed bv every ons who knows the
results OF a similar policy pursued by
England towards Ireland. We do not
IN fbe least doubt that the Congressional
Radicals would rejoice TO see the South
depopulated. o. Irelaudha been, by emf
grafton. and q million Of her sons eXiles
IN other lands.
We do not suppose that they have ex'
pscted 10 attain this object, Of destroying
the cultivation OF cotton by large plan
ters using the Iabour Of freedmen, with
ont for g time increasing the price Of
cotton TO their manufacturers. We do
not suppose that they calculated that the
priee Of cotton would decline as it has
But It was not an injury to the
manufacturer to increase the price Of the
-sv article. because be had only to in
in the same or a larger ratio the
,rice OF the manufactured goods to
.,sbla him To do which It was only ne
,ssssrv 30 impose 3 high duty on such
,,ods manufactured abroad. And it was
mite certain that in q few years the in
production Of cotton in other
would enable the New England
manufacturers to obtain it in any desired
from other sources than the
ands OF the South, and at sufficiently
prices. J
The declenslon in price Of cotton to a
mint below all reasonable expectation l
!. no doubt, in part owing to over-esti- !
mates Of the crop Of the present year. :
he current opinion, produced by
-audulent means for sinister purposes,
that il will amount TO 2,5OO,O00 bales. 1
We cannot see where anything like that
OF bales are to come from. The J
,op Of 1859 wss reported to be nearly :
70 million bales but in fact nearly a d
lird OF that was Of the crops Of former {
ears. Now very little old cotton remains !
] the hands Of planters, to go forward y
market. We doubt whether as much g
nd was planted in cotton this year a. y
1865, and there was certainly more
and efficient labor then than 4
ere is now. The negro women have
Itirely ceased tojling in the fields and
attitudes Of the men have swarmed :,
to the towns. Registration, political q
and other devilments haYe Il