Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1868-10-28

lions OF Tue phsi. lney occh W ie''N
in period OF peace the passions OF war.
Nay, more than this, see that 10
speech made last night by Mr.. Colfax,
the candidate for the Vice Presidency,
he is in full aud rapid retreat. He
is back as far as the Kansas troubles and
the Dred Scott decision. [ Laughter
Retrospective views are sometimes pro-
fitable, and, when things look dark ahead,
they may be pleasant lContinued
At this moment we are confronted by
imminent dangers and serious difficulties
We owe it to our business men, to our
mechanics and to our lsborers, In
thoughtful way to iud out, that we may
relieve them from these perplexities aud
burdens. / will speak to- night with
regard to some of them, especially the
Northwestern and Southern States, and
through them the interests of the whole
country [Cheers Before the late re-
bellion, as the great cotton producing
country of the world, we had the advan-
tage over all rival nations. This product
stimulated our commerce, gave the mate
rial needed by our manufacturers,
brought in return for its prices from
other lands the merchandise needed by
our people, or turned the balance OF trade
in our favor, and filled the vaults OF our
banks and the pockets of our people with
gold and silver. All the labor of the
South was engaged in this profitable cul.
ture. They bought their provisions
mainly from this and adjoining States:
Thus the corn, the wheat, the beef and
pork of this region, were turned into cot
] ton, and in that form reached the mar
! kets, which they could not do in their
( original conditions. When the civil wal
broke out and this process was stopped,
corn fell so low that in some parts of the
, West it was used for fuel, and great dis
tress prevailed.
The demand for our armies and the
! markets of the East and Europe restored
| its value, but experience has taught you
that you cannot with safety count upon
being able to send at all times your pro
ducts to distant markets. Your interests
demand that the property of the South
should be restored at the earliest moment
We want them to help US pay our taxes.
The interests of our country demand that
the culture of cotton should be revived
Our foreign and internal commerce Ian
guishes for the want of this. The negro
of the South cannot be advanced in civ
litigation and made good and orderly
citizen unless he is profitably employed
Cheers, and cry, "Thats So" The
planter cannot pay him his wages unless
he gets money for his crops [ [Applause.
What was the first step taken by those In
power? The South, prostrated. poor,
and disorganized at the end OF the war,
tried to carry on the work Of raising cot
ton with the aid of the enfranchised
American negro. He had in many re.
spects deeper interest in the success OF
this trial. than the white man had. His
very existence az a race, the Judgment OF
the whole world as to his capacity to do
the duty of an American citizen, hangs
upon the success of the trial which we
are now making at the South.
In our efforts to give all races in that
section peace and prosperity, did these
rulers stretch out helping hand No +;
they said to the white man and negro
alike, we will not let you get the full
value of your products in the markets OF
the world; we will put heavy tax upon
the cotton which you send out OF the
country; you shall sell it to the Eastern
manufacturer for less than its value in
European markets. This act was not
only cruel; it was unwise. 1t crushed
the first efforts of.reviving industry; 1t
pushed back an impoverished aud disor-
ganized people in their efforts to build
up their social system it was one OF the
first and great causes of the disorder that
exists at the South. The unpaid African
could not see why his ruined employer
was unable to pay him his wages, and be
was filed with hate and rage toward
him. The employer found bis slender
and low credit still further weakened,
Ia whose interest was this wrong done II
not that Of the cotton manufacturer OF
the East, whose profits have been enor=
nous, and who was protected by the high
est tariff [Cheers. How did this
measure tell upon the farmers Of the
West and planters Of the SouthY The
latter could not buy your corn or pork,
and he was compelled by starvation to
raise these things for himself. You lost
the markets you should have gained.
The export duty on cotton proved TO be
an export duty on corn. lCheers ltyou
wish to know why the South is sLiil dis
ordered you will 6nd the reasons IN acts
ike this, and in such purposes and vim
dictive passions which prompted their
enactment. Il is true that the measure
il repealed, but the evil il has done can
not be recalled. Applause
Fsllow-citizens, at this time the West
ern States are in the enjoyment Of q
good degree Of prosperity. When you
compare the present with the past you
are struck With your great progress But
this question comes TO us, Are you as
prosperous as you should bef Doer not
The policy Of this Government harm
youf l. not the progress OF this great
city hindered By It's financial manage
mentf The great drawbacks 70 the far
mers Of the West are The high rates OF
interest. the want Of currency and the
cost Of transportaiio1, and charge that
sll these are due, in . great degree, 70
mistakes Of The psrty in power. Ihey
took upon themselves the responsibility
oftaxing ouhof existence all state cur
reucy; they allowed 20 bills 70 Be issued
br ary banks except . limited amount,
Which might Be putforth undsr The laws