Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1871-10-26
THE RICH AND THE POOR.

The tendency of capital is into the
hands of the few and power is going the
same way. Looking at the immense
fortunes that have been made by individ-
uals, railroads, banks, rings and public
officers during the past ten years, one
cannot fail to be impressed with the con-
yiction that the people, from whom all
wealth is derived, have grown poorer.
Men, utterly pennyless, have, by char
tered privileges, grown suddenly and
mysteriously rich. Combinations of men
in desperate circumstances project
great works, borrow all the money and
credit they can and then, whatever the
public suffer, whatever merit or profit
is in the enterprise, their fortunes
are made. Happily for us in the South,
our great works that are accomplished
and those in process of construction,
were suggested by no spirit Of specula-
ton, but were and are demanded by the
people. They are necessities, and more
of them are wanted. But in the North,
East, and West, corporations combined,
rings organized with all the exactitude
of machinery, can command more money
than the Government itself; can, if they
choose to do so, exert mere influence,
and, if deemed expedient, break it down.
They defeated the Democratic party
in California, and win not hesitate to
destroy any party that opposes their
plans or braves their power These
absorbers Of the wealth of the country
these monarchs of the leeomotion and
bonds are, it is said and written, feeling
their way to the South, to repeat here
the strategy and WELD the power that
makes them masters Of the people Of the
North and West. The railroad connec
tions of the South are the result Of thu
course that trade must inevitably take
They respond to necessity, and serv'
their purpose, the single one Of speed il
the transportation of the products o
the country. They guard Southern in
terests or should do so, but let then
once pass into the hands Of the
millionaires and nabobs of thu
North, and then there is not |
Southern city that will not feel that it
interests are in the hands of those wht
possess the power, and probably the dis
position to cripple them. The source
of wealth in the South would be turne'
to the North where the vast horde o
corporate and individual wealth i
stored There is, the ocean TO the rive
of the country's industry, and there is I
great will and limitless power to alb
sorb everything that possesses value
Meantime the people see their powel
going, their money going, the fruit
Of their toll going to swell thu
bloated Golfers of the gamblers il
gold, in stocks and in railroads
Our railroads once in the hands Of thes'
men, the South, commercially and indus
trially, would find itself as efectualll
subjected as it is now politically. W.
should be at the absolute mercy Of I
power more to be dreaded than tn
bayonets Of Grant, or the fell spirit tina
executes the Ku-Klux law We shoull
like to see the people take an interest il
this subject We should like to see tn
money spent North every summer b,
Southern people devoted to our homl
interests, to railroads, to manufactures
aud to public improvements generally
But this we cannot expect. AT al
events, the people of the South shoul
cling TO their railroads.