Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1873-09-30
weconsider 10 unnecessary 60 dis
mite the Appeals assertion of cir
euIation. a. not n man. woman or
child I'm Memphis believes a.. I
vRurrs OF CORRUPTION.

FRUITS OF CORRUPTION.
Corruption, extravaganee and disre-
gard Of constitutional barriers by those
in high places begin to bring forth fruit,
very apples of Sodom turning to ashes
on the lips Of the people. When Sena'
tors and Congressman sell their votes
for railroad stock, and are not driven
from the seats they have corrupted by
the betrayed people, It is evidence Of
party and public decentralization. When
the hackers OF Credit Mobilier are sus-
tanned it proves that others have shared
the spells and that all their retainers
and apologisis are morally tainted aud
debauched. Capitalization has removed
the Government farther than ever from
the people, and their interests are proper
tionally neglected; the working people
of the nation pay all the taxes-in-
directly at least - and their masters
at Washington and on Wall street
rioting in high living, rival the nobility OF
England in their expenditures and reap
colossal fortunes, which they never
earned or legitimately acquired. These
high examples have had their pernicious
effect, and the spirit Of speculation has
become rife in the land. Men without a
dollar operate upon credit to the extent
of millions a year. Some times they
lose like gamblers, as they arc; again
they bleed the unwary, and reap golden
haryests. While a few are successful,
thousands are ruined, and the poor, who
are tempted by alluring Investments
often lose their all. Several OF these
largest stock spectators in New York
have failed, and the effect is felt ~
hamlet, village and city. The wheels
of commerce are locked. business is
sasnended aud anxiety is depicted IN
every face. With an immense excess OF
greenbacks over the actual capital OF the
country, we are positively without cur
reucy to transact ordinary business, and
these Government shinplasters, because
being the only Issue permitted to cireu-
late, would bring fabulous premium IN
the market, if men could borrow on
credit. Even Government bonds, which
the taxpayers will have to redeem in
gold some day, do not readily command
currency. Distrnst and uncertainty
prevail everywhere. The credit system,
with public and private extrayagance and
reckless ventures, with ostentadous dis
PLAYS made by the vulgar shoddyites often
turning the heads of poorer and soberer
people, there are some Of the causes OF
the present crisis. The country, on an
average has been living beyond ITS
means, and like an individual it must stop
short of or break and into liquidation.
The currency is inflated, yet can be
locked up by the failure of half dozen
stock gambling concerns in Wall street
The disasters Of the last few days are
merely the early fruit, prematurely ripe,
which falls from an unsound tree. and if
the whole people do not stand from uH
der the last will be worse than the first.
TO regain our prosperity We must 90
back to first principles, as pfAeticed
in the days when official corruption was
the startling exception and not the daily
rule; when men were elected to Office
for their honesty, and administered pub
lie affairs with economy and upright
ness, and retired from Office without
blemish Of character. In ths South we
are not so sorely tempted as our North
ern brethren. Our people seldom find
their way into fat Offices or acquire the
means to ape after the new made aris-
tocracy, if they would. They have eaten
the bread Of adversely with clear con-
science, and can look on calmly at the
agitation of the bloated shoddies. They
are out Of debt, and hold the entire crop
of the year. The money to be realized
will answer their necessities, aud they
can see that they have little share in
this late national" calamity.