Nashville union and dispatch. [volume] (Nashville, Tenn.) 1866-1868, 1868-05-12
WHY is IT." AND ~rmE EFFECT"

''WHH IN IT. AND - EhEE EfkEt' L.
From the St. Louis Republican. May 8.
On the 18th of August, 1867, under the
head "Why is It?" the Democrat said
"Snce the Radical victory in Tennessee
the bonds Of that State have advanced five
per cent in the New York market.
What is the reason that Radical
victories make State bonds go up like a
balloon, while Rebel or Conservative vic
tories do notP
We punctured that gas bag at the time
by showing that Tennessee bonds had moi
appr lated in value, and that the Democrat
was eoacoeting its facts 10 suit its "balloOn.'
Tennessee bonds, before the Radical vic.
tory" of August l, 1867, ruled through the
month of July from 654 to 694 for new, and
from G54 to 20 for old. Up TO the time
when orr neighbOr wrote, August 10, the
Radical yicto. :" had not sent up Tenn~s-
zee bonds beyond 69a Afer that the
Democrat was dumb as an oyster about Ten
nessee bonds, and concluded to let them
alone, until on Tuesday, it ventured to put
forth its fiction again in this style:
"Immediately after the Radical victory
in Arkansas the bonds of that State rose
very rapidly in the market.
Precisely tlssasqZne result has followed
Radical victories in Tennessee.
Radical victory means restoration Of
credit"
In making such veIy stupid assumptions,
our neighbor was compelled to falsify its
own stock reports, which show that after
the Radical victory" Tennessee bonds de-
clined to 65 in September, to 81 in Octo-
Der, to GIL in November, and were at 62s
in December. They have not once, except
on the third day after the Radical vic
tory" touched so high a figure as they
reached before that disastrous event.
We think our neighbor should be little
ashamed of printing such financial fictions,
ard practicing upon the credulity of its
gullible readers. 1t knows that the credit
of Democratic States is as high as that of
Radical States, and that Democratic victo-
ries and Radical victories have very little
to do with the fluctuations of the stock
market. Connecticut, New York, New
Jersey, Ohio and California find their
promises to pay quite as current since the
Radicals were kicked out of power in those
States as before. Radical victories in Kan
sas, Wisconsin and Minnesota are notknoWn
to have made anybody very anxious TO pos
sess the sc lrities of those States. "Rebel
Kentucky" credit is at the top of the mar
ket. Democratic Illinois, before Radical
ism got possession of her, "pulled through"
the heaviest portion Of her immense debt
contracted previous TO l840 and brought
up her securities to the top of the market
under Democratic administrations. Rad
ical Minnesota won Radical victory "
last fall, and Radical Minnesota repudi-
ates her railroad bonds, while enjoying
the proceeds in the railroads they built.
Radical Missouri, which in Radical fashion,
"gained" Radical victory" in the State,
found her credit enhanced by the payment
of six millions of dollars into her treasury
by the general government, while her Rad
ical Governor gouged out of that sum one
hundred thousand dollars TO pay for pre-
tended services of "claim agents" The
real wonder is that, in spite of the aid of
the general government in building up the
credit of Missouri, the thieving, plumber
ing, rascally rabble of Radical railroad
rings of "slush fund.- memory, with PAW
waw militia raids upon the treasury, with
Radical Governor suspected of fraudulent
transactions and venal Radical Legisla.
ture supposed to be plethoric with brides,
have not sunk the credit of the State to the
lowest figure. There is nothing more alb
surd than for corr pit Missouri Radicalism
TO claim credit for itself that Missouri
bonds have any real value whatever. The
known large resources Of the State, its in
exhaustible material wealth, the known
fact that Radicals, fostering with rotten
ness are not in a majority in the State, bnt
that Conservatives are, and that the rule of
Radical plunderers must and will come TO
an end, and representative of the honest
Conservative masses soon take the places
of the spoilers of the treasure and the
honor of the State, are the substantial ba-
sis of the value of Missouri bonds. If they
had nothing but Radical morals and good
faith to rest upon, they would not have the
value Of horn spoon.