Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1873-10-02
THE GOOD OF 1T.
The Money Panle and the sOuth-The
Other and Brilliant Side OF
Gloomy Picture.
Ibe Strength Of the Cotton Cr0p-The
Supreme Coed Luck Of the
Southern States.

There Is always money for cotton, and
the quantity Of money in the
country is rather augmented than
lessened. Fewer goods, by half,
will be imported for the next
six months, and duri8g this period there
would be no outflow OF gold or bonds.
On the contrary, however light the de-
mand for English cotton goods, because
of the collapse of Jay Cooke and many
like him, the English demand for cotton
would not be iessened one dollars worth.
If Boston and Lowell cannot move the
cotton crop, Liverpool and Manchester
can accomplish the end, and English
geld or English exchange is quite as
good as American greenbacks. There
will be fewer intermediate agents, and
am persuaded that we may almost evoke
a system of direct trade from this dread
ful collapse o. all the golden glories Of
Grants administration.
DECIDEDLY GOOD THING.
ampersuaded, from what see and
hear in the gulf States, that the current
cotton crop will be much less than is
commonly anticipated, but if New
York and Boston cease to buy luxuries
and fancy goods in Europe, there will
be enough cotton made, perhaps, to adj
L IusL AIhut-DdAdDtC5 OCNNCCA aAAEAAI6
and Europe, and despite the ruin of
/ bankers and spectators, the financial
condition of this country will be better
| than for many years. The annual trade
deficit of this country is not less than
sixty millions. The revulsiOn, now
wonderfully progressive, will cause the
| Inauguration of schemes of domestic
| economy in households that have
lavished wealth, with unspariDg hand,
4 upon foreign industry and art. The
amount of gold and currency in the
country is the same now as a month
ago. England will ship gold to buy cot
ton, and when the mushroom banss
and mushroom speculatOrs are finally
designated, and the chaff is separated
| from the wheat, accounts will be adj
/ iusted aud confidence instantly restored.
It is only a proper winnowing process
which the good and bad alike must
abide. The south can hardly lose a
| dollar by the suspension of the New
| York banks. When an institution is
rotten depOsitoTs may be robbed, but
these cotton States may be gamers rath-
er than losers by 8 frightful shock which
50 distresses poor Morton.
BETTER STILL.
DE huduGlhl ul5ADh NlhonNC NOuAl-
/ less remote, wild western railway
schemes. Duluth is dissolved into thin
/ air, and the great Northern Pacific rail-
road hss cooked jays goose. Each
| mOonshine scheme involving the con-
| struction of broad and narrow gauges
across western deserts is turned over to
! the man in the moon. Towns without
| resources, and based upon the wealth
| which one penniless adventurer can
make out OF another half-starved wan
derer, will die by the score Of this C u
vulsion. Speculative wealth, constitut-
ing the sole resource Of ten thousand
towns and villages in barren wastes or
in hyperborean regions, will dissolve in
/ to nothiugness beneath the Bit
ing, whitening frost of this sud-
den "winter of our discontent.n -
People will be forced to see that these
gulf States, with cheap homes, product
i've lands and faultless climate, in
which poverty may toll through twelve
! months each year, instead OF four, as IN
the remote northern States; people ev-
| erywhere will bs forced to learn by this
extinction Of western bubbles that the
only really cheap lands and attractive
homes on the continent are to be found
in Arkansas, Tennessee, Mississippi and
Louisians. Negro supremacy, after the
tide of migration is diverted from its
present course, will not endure through
a single year. Yankee and European
energy defying competition and buying
farms, and regenerating new districts,
will drive competing races of inferior
energy or capacity into Central Ameri-
ca, and revolution in the south may be
begOtten by this explosion Of worthless
! l..
schemes, which no other agency Of civil
ization and nO.act CT southern states
/ manship could have achieved. Very
certainly have presented q picture of
southern fortunes somewhat rcse-color-
e0, but there is basis OF reason and fact,
and would fain hope that the hapless
readers of the APPEAL, so sorely besst
| with anxiety because of terrible events
of the last ten days, may forget imagin-
ary or real present woes in contemplst-
ing an assured and more brilliant future.
A BLUNDER.
Did 1t never occur to each reader of
the APPEAL that We wasted too much
Of our energies of thought and action
upon the political rather than practical
fortunes of the country? While we are
blowing about RAdicalism and ruin
wrought by its crimes, and would de-
throne its representatives, l am sure II
is all well enough; but would it not be
infinitely better to hoe corn, dig pota-
toes, and make and manufacture cotton
While wasting breath in elO.
quent denunciatiOn we gain nc
flesh or strength; we add nought
to the country's attraetivenesss.
On the contrary, southern excesses OF
: =,
Mississippi, only repel wealth, perpetu-
ate poverty, and thus the domination OF
ignorance and OF blacks. We surely put
the cart before the horse, and give that
interest precedence which should be
postponed to the practical reconstruction
of individual personal fortunes. Our pO-
litical condition must be fixed finally by
our social and industrial condition and
habits. The latter support and give
shape to the former, and if we grow rich
myriads of people who would share our
fortunes will be attracted into these
States. Social and industrial progress is
of primary Importance. Show the world
pretty homes, good fences, rich fields
and fat cattle, and the State will soon be
b reflex of each homestead of the State.
MissiSsippians begin to learn this lesson, +,
and while, as good citizens, they cast
their ballots, they are more deeply
interested in the reformation Of the
industrial habits of all classes. Not
only will this terrible financial col
lapse drive population and wealth
into the south, but there will be
new life infused into southern en-
ergy and prOgressiveness by the
transfer 10 the south of bankrupted
manufactures and sotton-mills. Delu-
sions prsctieed upon foreigners by rail-
way managers of the remote west, who
own and would dpopulateimpeIial deserts,
will be dissolved, and slowly but surely
the tide Of the worlds migratory wealth
will be turned in this direction.
The Pixies Peak signal station.
DENVEs, Col, October The United
States signal station on the summit OF
Pixies Peak is nearly completed, and
will be dedicated with appropriate cere-
t tho olav-opfh The