The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1874-04-27
AN INTERESTING LETTER.


Hard Times and Scarcity of Money
in the South-The People Want an
Immense Issue of Currency-Sena-
tor Brownlow Wants a Billion.
The Cincinnati Commercial publishes an
interesting letter from Chattanooga in re-
gard to the pecuniary condition of the
people in that portion of the South. He
says that large majority OF the Southern
people and politicians are in favor gilmore
currency. Money is so scarce in the
South that "nine out of every ten are in
favor of infst1on." The majority of the
people are in favor OF initiation much be-
yond what Congress ever proposed. sena-
tor Brownlow, for instance, wants round
billion of the currency to do "the bust
ness of the country"
"Money is scarcer in the rural districts
OF the South than it ever was before. 1t
Is so scarce that business is blocked and
widespread distress prevails. In the
cities the banks have money which they
lend at one and halt per cent month,
but among the masses dollars are scarcer
than in the old days OF hard money. 1t
Is with the greatest difficulty that suf-
ficient can be r8ked up to pay taxes
There are men within thirty miles OF
Chattanooga, for instance, worth twenty
To forty thousand dollars who have not
fifty dollars in cash that they can lay their
hands on. Whole communities are with.
out money. l venture that there are
counties in this State of eight and ten
thousand population where, if every dol
lar, dime, nickel and penny belonging to
every man, woman and child in the
county, was counted, the sum total would
not amount to thirty thousand dollars
And yet Tennessee is the most prosper
Gus OF any OF the Southern States south
still worse. The cotton crop failed in
many sections OF the State last year;
and, aside from that staple, there is moth
ing to bring dollar of money into the
State. Outside OF the cities and large
towns there is absolutely DO money.
You can understand how this state of
facts may be brought about, although at
first view it may seem incredible. Take
a county, or series OF counties, where the
cotton crop failed, and what is there 10
bring money to these communities? Just
nothing at all. On the other hand, what
few dollars and fragments Of credit may
be left over from last crop is all alb.
sorbed in buying bread, meat and cloth
other States.
Take more favored sections of the
South, where the cotton crop was not q
failure, and what do we see2 Hard times
and financial distress beyond the COM
prehensiOn of our prosperous Northern
communities. Why? Because everything
on the side of the South necessary 10 sup
port lie is brought from the North or
from Europe. Bread, grain, meal, stock,
clothing, tools, machinery, and, in fact,
everything necessary TO civilized life is
bought outside the State, and paid Tor
with money of which it is our boast that it
goes one place as well as auother-and it
does, for it goes out OF this section and
never returns.
A close observer will notice sign Il
had better say a cause) of this in the
frelghtage of the railroads. Take the road
leading north from here-the Nashville
and Chattanooga line, and what do we
see? The freight trains invariably go
North empty and come back loaded. all
seasons Of the year there is stream of
South-bound freight, and in the winter
season there is rush, a jam, and likely q
blockade. What are these trains loaded
with? With everything necessary to eat,
drink, wear and use in the varied indus
tries and occupations OF lie. On the
Hhub SOGo 4NOAtAA w ASS IL4O
balance of trade? Nothing at all worth
mentioning. On tho Nashville and Chat
tanooga road not one car In one hundred
goes North loaded. When, perchance,
there is carload bound northward, 1t is
iron ore or lumber. bulky stuff, bearing no
proportion in value 10 the fine manufac.
tured goods which come South, perhaps
in the game car.
The balance OF trade is against this sec.
tion-terribly against it. That is the rea-
son money is scarce, and the only reason.
A people that buy everything and sell
nothing will never have money, and their
inseperable companions will be the sheriff
and the tax collector. You may initiate
until New York and Boston are gorged
with money TO the bursting point, but this
section will be no better off. In one point
of view it will be the sufferer, for an in
crease OF currency will cause an advance
in gold-an advance in gold means an
advance in everything the people here
have to buy-that which is the most vi
tally necessary advancing trst-and, hav-
ing nothing Of any moment TO sell, they
suffer, become poorer and the expected
blessing is in reality q curse.