The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1872-03-09
Radical Ruin in tho South.

The Chicago Tribune, which beng radical
paper, tr,es to put the case a. mildly rs posi-
Die, complies from the report of the kuklux
investigating committee the following brief
statement Of the financial condition OF the
southern states at the close pt the war, and
then At the close Of five or six Years of rsdi.
cal bayonet rule since then.
IL Virginis, or January l, 1870, the debt OF
the state vas $4j,37277S. Increase since 1865,
e4Sl1 ,4G2 since 1861 the increase has been
$l3,94,9l! Tho increase in the debt Of Vir.
giuis 10 mainly due to Ne accumulation Of M.
paid interest. The finances of thi. state have
bess, upon the whole, wisely and honestly al.
miuistered. The state has not bsen governed at
any time BY carpetbaggsrs.
In North Carolina, the reconstructed govern.
nsnt bsgsn in 1868. The recognized debt 1T
that tine was $24 sO9, 445, which vas .n increase
since 1886 Of over four millions OF dollars, and
and 1860 Of $l0,230,0OO. In addition, Assets in
| the hands OF the state to the amount Of Bill.
100000 had been lost or squsndersd. Al the
end OF 1871 the debt was nearly $35. 900 900, An
increase since 1868 Of over 10000 900, and since
1865 Of fla 100000. Frauds in the sale of state
bonds, and in the application of the proceeds,
have been discovered, but the state 10 un.ble to
pay the interest on the debt, and is practically
bankrupt
I. Tennessee, the voting Of aid to railroads in
the shape OF state bonds resulted IN Wholesale
frauds. The state 10 new paying interest on
$32, 054, 75G, an increase Of $5,217,0OO by the
| reconstructed government
In South Carolina, the old debt was 5000.
700. The reconstr acted government was insug.
| urStsd il 1868, and the recognized debt was
thea $69l5,0O0. In 1871, the amount of debt
| 10 in dispute, but it 10 anywhere bet wssu SIC.
100000 aud $l7,0OO.0OO.
| In Georgia, in 1868, the recognized debt was
| $6,544,0 600 The late governor says that IL the
amount OF the debt nov, but what the actual
| liabilities are no ono ssems TO know. The ex.
from 100000 ia 1868, to an svsr.ge since then
of 81 1874 900 = year.
La Florida, the debt in 1865 was $1,375 900 ;
in 1871 1t had been increased 10 -, 100000
| The old debt OF Alabama was $1,000 900. The
legislature has voted to pay all railroads in ex.
istsnse in the state, or to be constructed, un aid
OF $4,000 per mile. The increase Of debt from
this cause has but just begun, bu, renders the
prospective debt $29,00O,0OO
| Mississippi owed no su,s-wsr debt, Except
what had been repudistSd,) and New owe.
$l.177,0OO.
| Arkansas swsl at shs close Of the war a, SEQ.
| w. NC P'ss.n', piosPso"Vs' anu contingent
liabilities are $14 100000.
| In Louisiana, the old debt was $l4347, 900 {;
in 1868 it had increased " $l7,0OOOOO, snd in
| 1871 had reached $2A000,O00
! Texas in 1870 owed only $780,, OOU. In Osto.
ber 1871 the debt was 81 ,4b4OOO.
| The legislatures Of nearly all these states have
anticipated the fnture by pledgiug the faith Of
the state to issue bonds, upon certain oontingen.
cie', to railroads. Only comparatively small
AMOUNT OF these bonds have yet been issued, and
1t 10, therefore, impossible to tell the amount to
which the liabilities OF the several states will
reach. Tho effect in North Carolina has been to
overwhelm the state. The taxable property Of
the state. 1t hiss been reported by tho governor,
Is not capable Of bearing the tax to pay the in.
tersst In the meantime, immigration has stop.
ped, and emigration Of beth population and
movable property has cot in