The Ouachita telegraph. [volume] (Monroe, La.) 1865-1889, 1873-10-10
! THE MONEY CRISIS.

err THE MONEY CRISIS.
We have no particular change to re-
port In the financial condition Of the
country. The promised improvement
is still deferred. The great money CEN
tiers of the Union seem to be no better
of, pecuniarily, than they were at the
outset of the crisis; while the pressure
has extended to all the local markets,
and is even now cramping the producer
at home.
Where is the source of all this trouble?
It is not in the producing capacity of
the country;-it is in the Government
and that wild system OF speculation
fostered by the Government. The
trouble lies not in the want of produc-
tions, the only real source OF national
wealth, but In the reckless disposition
of spectators who, controlling the me-
dunn Of exchange, have staked millions
where they did not own hundreds, and
have, as was repeatedly propl,esied, at
last come to grief and to bankruptcy.
But the causes of the disaster have
less to do with our purpose than its
effects. The country will demand and
will demand the overthrow of the po-
litical party now exercising control of
the country, and inaugurate an entire
ly different financial system, so he who
labors from day to day and digs from
the bowels OF the earth a certain amount
Of values, will be rewarded in q curren-
cy Of fixed value in market not under
the control OF gamblers ond spectators.
The effect of the existing crisis will be
to arouse the producer, and to make
that class bold and independent. The
bond holder and the stock jobber have
had their day, and this brings US to the
point where the real benefits Of the
present trouble are plain to be seen.
The commercial centers, with singular
faulty, have shut up the avenues by
which money, or Its representatives,
have found an exit to the country. The
farmers cotton and corn are made.
His expenses are SO nearly paid up,
that, with q little financiering, the
whole crop may be gathered and stored
by asmall expenditure, easily provided
for. The country is, therefore, in
sound and independent condition. The
great drawback to profitable farming,
to-wit: the disposition to speculate and
gamble, has received a sudden and dis
astrous check-the fictitious value
placed upon money and credit has'been
wofully shocked-the gambler, the
Spectator, and the greedy capitalist
who lives ON cent-per-cent, are all at
bay, aud the producer, who has passed
through twelve months, and made Il
crop on crumbs, husls and expectation,
is comparatively master of the situation.
Hence it is, we say that the crisis is 70,
the general good. We are getting rid
of the great incubus of margins. Mush.
room dealers and the brazen lords Of
dollars and cents are going to the wall.
Under this wholesome state of facts
wholesome because the real yeonanry
of the country are to get their own--we
shall see breaking down of corruption
in the Government and return to bet
ter rule. The Administration is sadly
put to it's wits by the clamors of gamb-
ling friends: indeed, the whole concern
staggers, hesitates and surrenders before
the demands of the speculative crisis
brought on by its friends. 1t is appalled,,
cowed and whipped out. Patchwork
Is no longer to be thought of; because
the Changers, the Workingmen and
the far-seeing political leaders know
what is, and must be, coming. Mean
while,we are hopeful of the result. The
condition Of the Southern people COM
mands respects, and, what Is better,
money for their cotton! They are edu-