Vicksburg weekly herald. (Vicksburg, Miss.) 1868-1883, 1870-03-19


that the combination of oircum-
stances which Lave brought about
this remarkable result may never
be known or fully explained
There are, however, certain very
great causes operating, which
are patent TO every thinking
mind, chief among which is the
value of the last years cotton
crop. This isa Southern venture
and although the south may be
abused and cursed for having in
volved the country in a bloody
war and an immense debt, she Is
nevertheless potent to restore ma
tiOnal credit even when she is
ground beneath the heel OF the
cruelest dcspotism ever fastened
upon q brave and industrious PEG,
pie. While politicians are wrang-
ling and ~quarreling over baseless
themes OF finance. the crippled
and down trodden South Is quiet
ly restoring the country TO a
healthy financial credit. She does
this too at time when she is spit
upon and spurned. When she Is
accorded no rights aud is treated
with more than heathenish cruel
ty and outrage. The dOminan
party the one Of cruelty and
injustice would take credit before
the world for this great achieve
ment and would endeavOr through
II to seek favor with the people.
II seeks to create the impression
that this great equalization OF the
value OF national currency with
gold is the result of Radical leg.
islation. Such is not true. Ant
1t should be 50 branded by every
honest man in the nation. Ne
good results have ever yet Injured
y. to the country from Radical legis
lation and never will.
> The New York World in its Il
i. nancial article Of 4 recent dat
, says:
The most important cause q
the reduction is one with which tn
e government has had nothing to d.
: as il has no control over the wealth
er and season. The decline in gol,
I has resulted from several causes
of which the most important is th
abundance Of the cotton crop
= Our chief usr for gold is in tn
Il purchase of foreign commodities
il and cotton being as good for thi
= purpose us gold itself, IN abundan
;, cotton crop d]ispenses with Il
equivalent value in gold for til
s purpose offorcign commerce. Az
cording TO the most recent est
e mates the cotton crop oflast yea
d, does not fall short Of three millio
bales and, as the priceis douhl'
Il this crop is equal in value to 81
II millionbales previous to thewar. "
,e have accordingly, ut present, lit
n use for gold except for the pa.
ment OF duties at the custom hous
% The supply is in excess of the d
B. mand, and, as Il necessary cons
r quence, the price falls. 1t wou
70 be absurd to attribute this rcsr
4. to the policy os the government
te The currency absorbed by til
sale of cotton is in the South.
has wrought its great National !
he suits. 1t has restored Nation
Or credit, and is bolstering upa rott
to and corrupt political party. B
OF where is the money? 1t is not Sc
,ir in the financial world. 1t is TAXI
a no part in trade, but has been qui,
.al " withdrawn. Why Is it \
rg thrown III some form or other
the commercial world? Tho Sou
can dictate Il new system to the
Ia tion through the latent, and
IN. away wealth, five will but bring
forth and use it. Why hoard
the earnings Of the past year,
pa yicksburg is the heart Of
ION richest cotton district in the wor
The cottonplauters about her hi