The Louisiana Democrat. [volume] (Alexandria, La.) 1845-1918, 1867-05-22
A Financial Crisis.

a financial CrlSlS.
The suspension Of che First Nationa
> Bank IN New Orleans, and the heav.
1 run made on several Of the other bank
ling institutions, have caused mucl
4 alarm in financial circles, and seem t.
/ give indications of an approaching fl
nancial CONFUSION. The tightness O
the money market, the dearth in bust
ness of all kinds, and other premonitory
symptoms of a financial crash have beer
long felt, and have been expected t.
bring forth their legitimate results
And this state Of things is not confined
to the South. The complaints among
Northern business men are al loud as
among those of the South. The bust
ness Of the country is 50 closely con-
nected, that it is impossible to disturb
that Of one section, without the shock
being felt in every other.
The main cause Of our present fnan-
cial disorders is too plain to require
any demonstration of it. The finances
of the country, in formers imes, were
kept in q healthy condition BY the i'm
mense value added to the national
wealth ~ the agricultural products Of
the Southern Statess That greatIsource
Of wealth was virtually Destroyed by
the war war But if those, who have had
control of the government for the past
/ two years had been actuated By proper
motives, and had applied, themselves
to the task Of reviving what had suf-
fered 50 severely, the country would
still be in a prosperous condition. y
But, by their revolutionary course, the
South has been kept In a state of sus-
pense and uncertainty, her labor sys-
tenn continually iinnterfered with, her
energies eramped, and foreign capital
and foreign immigration, which would
have contributed to her prosperity, kept
from her borders. Political uncertain
ty has destroyed her industry, and the
destruction Of her industry has neeees-
sarily carried with itthat poverty and
distress which is inseparable from it.
In the midst Of these troubles there
is one reflection which brings us some
little consolation. We cannot suffer
to much greater extent than we have
already suffered. Those who havethe
remedy in their own hands must feel
the shock more keenly than we posi-
bly, can. The financial crisis which
seems to threaten the country will
open the eyes Of the Northern people
to the destructive doctrines of the par
ty which now has control Of the gov
eminent. In place Of the negro tarore
which has run the North mad, great f.
naancia questions viii arise, which will
swallow up all others, and on which
political parties will divide. The re-
Of the present ruinous tariff,
the overhauling of the, rotten banking
system of the country, and other mat
tiers, will cause such a division in the
Republican ranks as forever to destroy
the controlling influence Of that party |
in the country. The great West and
the South have identical interests and
will soon refuse to submit to the class
legislation which is building up the
wealth Of the East at their expense
Whenever the people Of these two
great sections shall come to thoroughly
understand their interest, they VIII
form a perpetual union against the ex-
actions Of the East, and will control
The legislation of the country in all
time to come Radicalism will then
have run its race, fanaticism lost its in
auence, and The peace and harmony Of
The country secured. t5a ,a8alIiiog