Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1874-01-08
wHERE THE PANIC sErILEs.

If the panic did not cause actual
physical neutrality-suspicious. of the
necessaries of life-,iownright hunger
and cold-it would be none of the
monstrous evil that 1T is. If it were
not for these dire effects, there are
times when a panic would be blessing
Indeed there are some optimists who
set down the recent panic as a nation
al good; and for the single reason
that it has crippled speculation and
stock gambling. 1t is to be hoped that
it has effectually done this much good.
But beside the human suffering which
it has caused, this good sinks into
mere speck. In comparison with the
suffering which some honest men en-
dure, even the shrinkage of the great
fortunes is nothing; neither the
Spragues nor Cookies know the worst
meaning of a panic. If you want
to find the bad effect-the effect which
can evoke true sympathy, go down to
the Workingman's home and where the
farmer signs and groans. If man will
divide good, it is his nature to shift
an evil, which if be refuses to do he be-
comes hero. All the people who
could, have stopped and cringed and
allowed the swarming plague to fly
over them. 1t has therefore ahghted
upon those who could neither avoid it
nor shield their substance from its de-
vouring. The recent panic has in fact
settled upon Northeastern artisans and
Southern farmers The Northern arti
sans frequently met. heaved and surged
IN clamorous masses demanding bread
and threatening revolution. But their
evil hour Is now well nigh passed, for
they are fast reyaining employment.
Not so with the Southern farmers and
laborers; years may pass before they
shall be entirely relieved of the in
cubus. Their cry for bread is Just now
being set up. Petitions have gone to
the Government for daily rations
Look at that, and learn the meaning of
panic. And can any man tell how
long it will be till that fallen industry
of the South will regain its feet? The
reason why the eyils of the panic set
tied upon the growers of cotton is plain
to be seen. 1t is well known that for
the last few years the cotton crops in
an extensive region of country have
been produced OH borrowed capital, for
which the crops Themselves have been
bound beforehand by liens. This poll
cy on the part Of the planters, which is
of course, deplorable, has been necess-
itated by wrongs, yet unexpiated. But
the necessity of the obnoxious policy
has existed, and crop:hens have been
extensively made. Fastening their
iron hands upon the farmers in the
months of September, October,
and November last, when
the panic was pressing down
with all its weight upon prices, they
have caused hardship and actual want
to thousands of people. The crashing
of gigantic fortunes and the general
arrangement of business ard loss of
time are nothing beside this misery
this silent, helpless, misery of the
South.
Is this pure misfortune without any
mixture of responsibility? We do no
one injustice to assert that it is a con-
sequence of the political and
financial policy of the Rad
icals, particularly in the South.
Agitators and Constitution-haters are
responsible for this evil and all the
other direst wees of America. Radi-
calism means decentralization, and de-
moralization originates evils.