The New Orleans crescent. [volume] (New Orleans, La.) 1866-1869, 1869-02-24

advanced prices of cotton and the large material
recuperstion which has ensued.
The South is now master of the situation. H.
her people are only prudent they will continue to
realize large and increased advantages.
There is perhaps no fact more creditsble 70 the,
capacity for work. force and spirit of our people
than the wonderful creation of new wealth in the
Southern States by their cotton, sugar and grain
crops, in the face of their disturbed social rela-
tons military governments, and the hostile legis'
lation of the federal government, all calculated to
lead to anarchy and ruin, instead OF wealth and
prosperity"
This is an illustration and evidence of an energy
and resolution, which is the great stay OF the
present and hope OF the future.
The South, and the next crop, is the question Oh
vital importance. We have perused very able
article on this subject from the Commercial and
Financial Chronicle. 1t displays common sense
and Judgment which commends 1t to general at
tention. II says:
1--WE have, then, in the experience of the past
an unmistaksble Indication of the course that
should be pursued by the South, In order that the
advantages she now possesses may be maintained;
First them 1T is of the highest importance that the
planter should not be led by present prices to con-
tract with the freedmen at exorbitsnt rates. The
crop must be raised economically ano cheaply, for
there is no wisdom in supposing that it can be
marketed except at figure very much below
present quotations. Ii must be remembered that
the prices now obtained act as premium for the
cultivation of cotton throughout the whole world
Largely luCTehStu suppHcs are nhciyp uuu0t
stimulus, 10 be raised in India, Egypt, Brazil anc
other places, and although the consumption i9
steadily increasing, a decided reduction ia the
rates must be the result of this eager competition
in production.
1--WE notice that there ia some indispositiop
among freedmen to contract for last years wages.
This is right where he is worth more; but for the
planter to agree now TO pay an exorbitant rate.
lust because cotton at this moment Is high, would
be only to insure for both parties disappointment
and loss, In fact, TO check the prosperity which
the past year has begun to develop throughout tho
South. Then. again, il ia of the greatest impor-
tance that as much wheat and corn and provl
sions be planted as were planted the past year,
IL is desirable that cotton should be the leading
but not the only production. A disregard Of this
idea the error Of the first year after the war,
and short breadstufs crops in Europe pat up
the prices of corn and wheat to figures which
resulted in the fearful distress Of the winter OF
ls676s.
1--WE think little caution now on these points
would be of inestimable value to the South f0f
years TO come. Not that we desire a small crop OF
cotton to be raised for believe the trae inter-
ests Of the cotton States demand large crop and
low prices, which will drive out compeution-but
simply that the greatest economy in production
be used, no contract for labor based present
rates for cotton be made, and a sufficient supply
of food products be put IN to make that section
independent of others for their daily bread. The
observance of these precautions will insure
prosperous year for the South, aud do muct
towards imparng activity to the industries of the
whole country"