The weekly clarion., 1873-11-20

/ was much pleased to see your sugges-
tion in late issue of The CLARIoNin re-
gard to the payment of taxes, and the
collection of debts, at this period. The
public are indebted to you as faithful
lsentinels of the peoples interests for
taking open and bold ground on the sub
ject.
This is most important crisis in
financial affairs. Taxes have to be paid,
heavy taxes at that; and etthe people have
no money and cannot get it. For the first
time known To most of us, cotton will not
bring money. Even at the great COM
mercial centres, it will not bring money,
except at ruinous sacrifice of the far
mer's interests. We of the South are pc
culiarly situated. Our cotton is our all.
We have no other means of raising mo-
ney. And strange to say, with receipts
of cotton very largely behind those of
same period last year-with concurrent
accounts from all quarters, warrantirg the
assurance, that the crop of this year will
be nearly million of bales behind that
of last year-yet, look at our condi-
tionl Owing to Providential Affections
under which Memphis and other places
have suffered, and the financial distur-
bance in other Northern cities, for which
the South is no more responsible than
if it too were Providential-cotton is
selling at prices that will barely pay the
expense of growing it. This must be
temporary. The world must have our
cotton. But in the meantime, if the
collection of debts enforced by legal
process, our people are ruined. Those
who live in towns and those who are en-
gagged in trade (who do see little mo-
ney) have no idea how little money there
is the country among our people.
The writer of this knows of three in
stances in one neighborhood, of three
thrifty farmers, each one hauling bale
of cotton to two or three points, to try
to raise little money to pay hands for
picking out cotton-yet neither of them
could raise a dollar. 1t will soon be-
come question of food, of subsistence.
Cotton picking will soon be over. They
must eat If the collection of taxes and
debts is rigidly enforced = the farmers
will be compelled to meet all, from the
colored laborers and servants-the latter
will have no means to operate on, next
year-and thus ruin and distress will be
wide spread.
Under the circumstances, what is the
duty of the Legislature? 1t is, to ava
ken to the Importance of the crisis-to
sustain and protect the public interests
to guard the public credit-to bridge
over the chasm of the next few months.
This is no exaggeration of the state of
affairs. The people, at this time, cannot
pay their taxes; much less can they pay
their debts. If this collection of taxes
is enforced, it will amount to confsca-
tion-property must be sold--and the |
State must become the owner, or what
is equally as bad, if the farmers are
forced to sell their meagre crops of cot
ton at present prices, they will have
nothing left to make a crop with next
year.
1t might be supposed, that at such
time, creditors will not think of collect
ing debts. But some, will. And if A
is sued by B, A must sue c, and G must
sue D-and thus a panic is the result,
and ruin follows. This is a matter in
which both races are equally interested.
No matter how they differ politically,
they must sustain each other financially.
The writer of this means no reflection
on the legal profession so far from it, he
highly honors AMI respects it. But the
lawyers are, in the main, always opposed
to the passage of laws for suspending the
collection of debts. 1t is natu-
raj it should be so. Financial convul
sions and pecuniary troubles among the
masses make flush and fat times for law
|
sympathizing lawyers in the State enough
10 lend their assistance in passing laws
for the protection of the people. The
public pulse is feverish and agitated.
The writer of this is no panic-maker, but
has closely observed the progress of fnan-
,ial disorders and culminations. You
nay rest assured that we are on the eve /
If trouble. The CLARION deserves the |
public thanks for having first called at
ention to the subject. Let the Legisla- Z
ure pass no law suspending or violating Z
he obligation of contraotse.n at ali. I
But the history of the past shows that in
II such periods of apprehended financial B
isaster the high legislative inquest of the
'tate comes to the peoples relief, and
rovides for merely suspending the evil .
ay. Debts, and obligations, and con-
racts are made and entered into with the D
and conviction that the legis- B
ative authority will exercise this power, p
in their judgment they deem it best
his very conviction of what may follow .
lay be said to be sort of American
ommon law condition precedent, enter .
lg into the very spirit and nature of B
This argument is conclusive B,
yainst all the ine-spun theories and
.chnical objections of the violation of 3,
Now is the time for the friends of the B,