Nashville union and dispatch. [volume] (Nashville, Tenn.) 1866-1868, 1867-09-03
II niun aud dispatch.
Largest Circulation in city and Stat
LETTER FROM MEMPHIS.

Tight Money Market and Newspaper
SUspensiOns-PrOtes - Com
ing Relief-Granf and Memphis Pa
pers-The Last scene of Faneied
Tra2edies-The last Card Of Andrew
acknowledges Hollands Reign.
Special Correspondence Union and Dispatch.
MEMPHIS, August 81, ls67.-There was
never such an utter absence Of money.
Farmers have borrowed every dollar within
their reach. Merchants have exhausted
their credit, and all the money raised has
gone to Western cities for plantation sup
plies. Ten millions of money, by this
means, has been distracted from the Golfers
of Mississippians, and quite seven millions,
a banker states, have been forwarded
through this city by Tennesseans and
Arkansians The country IS penniless, the
banks are virtually closed, they only pro-
test paper as it natures, do little shaving
through outside agents, and this constitutes
the only business done under the Radical
regime. Memphis newspapers have suf-
fered, but bear it bravely, One of the most
prosperous of these has denounced as false
the story that it contemplated suspension.
But the currency Of such a rumOr about
one Of the most popular publications shows
how stringent the moLey market has be-
come. Protests were once deemed ruinous,
now the staunchest business houses and larg-
est property holders grin and endure patient
ly the denunciations of Notaries Public
These officials no longer fix the CONNER
cial status Of individuals or companies As
Papal bulls were shorn Of terror by the re-
formation, even so with "protests" ema-
idle, property is unsaleable, Memphis rests
idly in dust and sunshine. Crops suffer
from drought in this vicinity. Elsewhere
the seasons have been propitious. Very
soon cotton will be brought to market,
money will flow from the North and East,
and then we shall prosper as never before.
There will never more be made such enor-
nous remittances TO st. Louis, Louisville
and Cincinnati. The people have been
taught an invaluable lesson. Domestic
supplies, bacon and bread, will henceforth
be made at home. There will never be
such widespread want, and never such loss
of banking credit When frosts come, sus-
pended debts will he paid, credit restored,
and the city will prosper as in its palmiest
days.
There is not a ripple upon the surface Of
the sea Of politics. People have forgotten
evils of government in the midst of dire
financial calamities that threaten them.
The paramount idea involves the bread
and meat question. Grant has been par
TALLY approved as the best man for the
Presidency by the Appeal and Bulletin.
The Avalanche stands from under. The
Ledger runs riot and the Post now and then
trumps up sensation that involves cruelty,
shame, perjury, robbery, violence and all
those horrible things to which, without
knowing it, we have become addicted.
Madison county has been of late the scene
of the iancied reign of terrorism and blood
shed. UnhaPpily for Radicali5m a few
decent Radicals pronounced invented
stories false, and a new scene for fresh
calumnies must be discovered
1t is thought by some that the President
would prefer impeachment. He hopes, by
sacrificing himself to bring the country TO
its senses In other words he will now
| wage relentless war against his enemies
| and suffer Congress to do its worst. 1t is
hoped that the overthrow Of the Admins
| tration. by Congressional violence, will
cause the people to arrest the course of the
destructive party which has subverted
our system Of government. The Presi-
dent begins too late. He will be
suffered TO serve out his term of Office
He may issue HE proclamation of univer-
sal amnesty and reform his Cabinet, and
insist on the exercise of his constitutional
! prerogatives as Commander Chief OF
the United States army, and Congress will
hardly remove him when his term of office
has so nearly expired.
If Mayor Lofland's benefcent reign be
continued through the next two years you
will hardly recognize Memphis should you
then revisit the place. Streets are paving
in all directions; bridges are building
schools prosper; order and quietude are
maintained, and Memphis, save for those
crimes committed by the mighty mob that
floats up aud down the Mississippi with
changing seasons, would be deemed the
best covered city in America.
NABPO