Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1869-01-05
The Washington correspondent of the

The Washington correspondent of the
New York Express writes
'Lelters from the West state that the
slringeney in commercial circles there is
greater than it has been since I857-that
the country is overstocked with goods, and
that the farmers refused 10 send their grain
10 market in consequence Of the decline in
prices since 1867.
AT the South the aspect is rather more
cheerful. The high price of cotton will
put $3.50, 600, 900, for that product alone,
into the pockets Of the reconstructed" Of
that section, TO say nothing Of large
amounts for tobacco in Virginia, North
Carolina, Maryland. Missouri, and Ken
lucky, and for wheat and corn in the same
States and in Georgia and Tennessee. The
whole value Of the surplus crops of the
South this year cannot be less than $780,
000, 900, Of which probably $l00,000,000
are paid TO the negroes in the shape Of
wages, and $50, 100000 more in the shape
of food.
another year Of equal prosperity would
put The South in a comparatively sound
condition, although, Of course, there are
and must be for many years numerous
cases OF individual suiiering-as of per-
SONS in advanced life, totally ruined by the
war, their houses and furniture destroyed,
and all their Investments Of money COM
pletely worthless. When we consider
that the accumulated savings of two hun
bred years have been destroyed at the
South, We cannot cease TO wonder that her
recuperalion should be as rapid as it is.
"Of the immense importation of foreign
goods, cloths, silks, velVets, laces, jewelry,
wines and other costly merchandise, the
South now takes comparatively little. Her
consumption is mainly confined TO the
necessaries Of life, and will be for some |
years. Hence her recovery from lOssts |
will be more rapid. The Southern people, |
with few exceptions, never were luxurI- |
GUS people, in the sense the New Workers |
and Parisiars are They cherished for the /
most part the homely virtues of their an
cestors, and lived well upon the produce Of
their fields, their forests and their rivers
content with roomy houses, wood fires and
old fashioned furniture. Hence, in their
present depressed condition, they are more
contented than stranger would suppose it
possible for them TO be. We hear OF few
suicid,s there, and the number of insane
persons IN virginia IS only hAl the Duu- |
Der in Maine, regard being had to popula-
ton.
"In its best days there was very little
money in circulation in the South Now
there is still less. In the commercial
panic which seems to be approaching, the
South will therefore suffer less than the
North from auy contraction Of the cur
rency that may precede the restoration to
In the South there are no
real-estate sFeculstions, even in the envi
rons ofthe cities; no artificial valnes given
to town-lots CT embrio PalmJ rIs or BABY
Ions. Festina iehte is eminently the rule
lhere, go far as real estate is concerned.
They are not gregsrious people, but love
elbow-room above everything. Cities they
regard as necessary evils, and as such not
10 be encouraged unduly beyond moderate
For the greater the city the
greater the evil.
ut is very evident that business at the
North is overdone; that there are too many
bon producers there-too many merchants,
90 many traders, loo many agents, too