The tri-weekly standard. [volume] (Raleigh, N.C.) 1866-1868, 1868-01-04
Hard ,rimes. High Rents. low Wages.

distress which prevails among our people,
which may be traced, first, to recent disas-
tiers, but secondly and finally to the rebellion.
The prospect in 1866 was that the State
would be speedily restored to the Union,
and that emigration and capital would be-
gin to flow in, thus enabling us to repair the
losses and the waste of former years. But
this prospect was blasted. In 1866 it was
again hoped, for a brief period, that the
State would accept the Howard amendment,
and return to the Unionunder it, as Tennes-
see has done; but this hope was destined
like the former to disappointment. The
start which the State should have taken in
her race of progress and development has
thus been postponed for two years. during
which period the people have made little if
any advancement in material wealth. At
the close of the war much of the lands had
gone to waste, bitches had filled up, fences
and other Improvements had fallen away
the stock of cattle, horses. hogs and the like
had been greatly reduced-the farming I'M
elements had worn out with the lands and
|
new and good beginning, the farmers for the
most part had but little if any money, and
no means of obtaining it, save from crops
yet to be raised. Then Northern debts had
to be paid, and heavy taxes of all kinds,
and added to this the people were tempted
| to encourage the merchants to bring out
large stocks of goods and the result was
that the Oeceipts from the cotton, tobacco
and naval stores of last year were not at all
adequate to meet these demands. The dis
tress would have been much less general and
severe than it is if the crops of 1867 had
been good, and if cotton had maintained the
figures paid for the crop of 1866. But the
crops both of cotton and breadstuffs failed,
and Immediately following that was reduc
ton in the price of cotton to figure which
would not more than pay for its prod
AS an illustration OF the loss by the failure |
of crops, on which labor and moneyshad-
been freely expended, a friend informs US
that he has made an accurate estimate, anu
finds that his corn produced last year cost
him sixty dollars per barrel. and his cotton
but there were doubtless many instances OF
as heavy loss as his, occasioned manly ny
the almost incessant rains and freshets. Nor !
are these losses to be attributed to ideness
or inattention. Our people never worked
more industriously than during the year
lust passed They were obliged to be eco
nomical, for they had nothing to waste.
M. & hot iS
Every thing seems in consequence to have
fallen in price, except breadstuffs and meats,
which maintain former prices on account of
their scarcity. Judgments are prcssed-exe-
cution sales are common-the bankrupt law /.
is taking hold of estate after estate-prop- =
erty of all kinds is rapidly falling in price
lands are changing hands, and will soon he l
knocked off for a mere song; and there is I
no prospect so far as we eau see. that this 1
condition of things will speedily improve. :
One of the first effects will lie to greatly re- $
strict. if not abolish the credit SYSTEM !
Every step, no matter how painful or how
much to be tleplored, is in that direction
Credit is based on confidence between man
and man, and where there is no confidence t
there can he no credit. The end will be,
as the result of the rebellion and of
causes put in operation in 1865 and 1866, as i
heretofore stated. and the failure of the
CROPS for 1861 and the sudden fall in the price
of cotton, that large majority Of our peo !
pie will find it impossible to meet their OBJ
legations. and must have indulgence in some v
way, or the hard earnings of many years Il
will be sacrificed under the shcriff's hammer Q
or in Courts of bankruptcy. No one SYM
pathizes with the people in their distress ]
more than the Editors Of this Journal and l
they are ready to endorse any practicable
scheme that may he devised for their relief. /
We hear from various quarters that farm 7
crs and other employers are determined to I
reduce the price of wages. This would be q
feasible, provided the price of bread and
meat could be reduced to the same extent. {
If the farmers and other employers have
made but little during the year just passed, 7
their hands have been equally unfortunate,
for the latter for the most part worked for a t
certain portion of the crop. The hand of /
hard times is on both both are sufferers from
the same causes that could not be provided
against or overruled. Under these circum- {
stances, it is not right that the owners of
lands, or the owners of houses for rent,
should unitet to reduce the wages of the land
less and the houseless, and at the same time
to raise the rents for their houses and lands.
One cheerful laborer who is we'll paid, is
worth two sulky laborers at half price, who
feel that they are wronged, and have no
heart to work. We believe in good wages,
hard work, and prompt pay. The owners
of houses and lands will find it better for
themselves to demand only moderate, reason &
able rents for their property. They can not !
expect the rates that were paid last year
And on the other hand, employees and la
borers should not he discouraged by the
short crop of 1857. Let them be more indus
trious this year than they were last. Let I
them save all they can out of their wages,
and lay it up, SO as to be able to buy some