Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1870-03-30
FINANCIAL AND COMMERCIAL.

PROGRESS. --Thraughout the South there are
two and a half or three acres uBimproyed for
each one in cultivation. In Virginia alone
there are 2s,OOO,OOO acres untouched by the
plough. The war, however, was a capital ad-
vertisement Real estate dealers were surely
all for the war. 1t gave the world, especially
the European world, that dug most of Grants
endless bitches, from Washington to Peters
burg and Sherman's from Chattanooga TO the
spot on which Joe Johnston's head fell from
his shoulders-the war gave armies accurate,
practical and geological knowledge Of the in
yaded States. Therefore, we find Virginia
rapidly reyolutionized by the hand Of Northern
and foreign industry, tits very well Virginia
bore all the great calamities of war, and should
reap all possible advantages to arise from its
unnatural, horrible and disgusting barbara
ties. Virginia is rapidly retrieving losses in
Cured before the war. The State had rela-
lively gone backward, and, from the first of
American States, had become the sixth in
wealth and population. Railroads and canals,
built by wealth drawn from exterior States,
will soon revivify the Old Dominion. and the
mother of States and statesmen, under
thoroughly renovated systems of social and
industrial life, energized by imported or bor-
rowed gold, will speedily become the richest
Of all American commonwealth, Spared the
intervention of Beast Butler. and our native
thieves. who conspired with the blacks to
plumber, rob and destroy Invested of all power.
Tennessee will keep pace with Virginia; and
the South, adopting social habits Of the exte-
rior world, must become the richest, as 1t
surely Is the most heaven-favored, portion of
the globe.
ANOTHER SwINDLE.-The President, in order
to promote American commerce and industry,
and prevent the existence of trade balances
against us, advises Congress to suhsldise lines
Of ocean steamers, and otherwise favor Ameri-
can shipping interest. When cotton, that has
done more in promotion Of American wealth
and progress. and more to ciyilize African
savages here and wherever cotton shirts cover
brutal nakedness. than all the ships that ever
went to sea-when cotton, for want of labor,
could hardly be produced, these same Eastern
partisans, who drag Grant about as if a
drunken man. imposed such tax upon cot
ton that its production was worse than profit
less. But now a few combinations of Eastern
capitalists and bondholders propose to gobble
fifty or an hundred million. The President
assents. and the scheme has money enough to
pay its own passage through Congress. Grant,
as a politician and statesman, has always
been at sea, and it is only deplorable that it
must cost the country so much 10 keep him
afoat.
Coin AND CoTroN.-Whatever other causes
may have contributed to the decline of gold,
il is an undeniable fact that, as the cotton crop
of this year has exceeded each month the esti-
mates made. in the same ratio gold has de-
clined. Stocks Of cotton on hand year ago
were very light, and good prices this year be-
ing anticipated. every farmer planted freely.
A good crop has been made, English mills are
running freely, prices are thus maintained,
gold flows in as cotton goes out Of the United
States, and the result Is before us in each dis
patch from New York. which tells that gold
vibrates above 10. decline of Ts per cent. in
the first six months of the crop year. The re-
ceipts Of cotton up to this time being, in round
numbers. 100000 bales, we have for every
100, 900 bales a decline Of one per cont. in the
gold premium. In fact, gold began TO go down |
as soon as Il was known that the area Of eoun
try planted in cotton was increased, and its I
downward tendency would have been accele- /
rated if the dirty politicians at Washington I
were not so craEed for Office and power that /
they will not suffer us TO have established order
and good government.
Tbs Corrox AND OTHER MARKETs.-The cot 4
ton market was very quiet yesterday, and is /
hardly. II at all. more animated this morning. |
Five hundred and twenty bales only were sold I
yesterday. Ordinary. l61S9l7c; good ordin-
ary. eo14G2ie; low middlines. &c; middlings.
llS4822c. Middlines hardly commanded more I
Than NE, and holders firmly demanded pc.
Scrips and warrants are very dull. and ex-
change Is scarce. Corn is dull, and the meat
market is improving and prices stifeninE
This Is ascribed to the purpose Of
planters to make no bacon. Money Is becom-
Ing very abundant in all Southern cities. Far
ners are well supplied. and most have an
abundance.