Whig and tribune. [volume] (Jackson, Tenn.) 1870-1877, 1874-06-20
sATURpAY. JuNE 20. 1s7l.

THE REASON WHY.-Of late there
have been many serious inquests held
in the great cities of the East in Or
der to ascertain, why it is that real
estate has declined in value so materi-
ally. 1t was only few weeks since
that the New York papers made the
announcement that this species of
property had declined full thirty per
cent. Interviewers at once sailed
forth in order TO gather the aggregate
opinion as to why the milk in the
metropolitan cocoa-nut was drying
up Claflin, Stewart and the rest
Of The merchant princes we're talked
and listened to on the subject. One
attributed the decline to this cause,
another to that, but all were unani-
nous in the opinion that there was
something wrong. Some of them APP
proximated the truth, but all of them
seemed to be blind to the obvious
cause of all the trouble. This one
thought the general policy of the
goyernment in regard to the tariff
wrong. Another saw in the sxemp-
ton of bonds from taxation, and the
favoritism shown the banker and brok-
or, the explanation of the decline in the
value of all property except money.
As it was favored above everything
else and was held sacred from the
profane touch of the tax-gatherer,
State or National, Of course all other
representatives of value were made
subordinate to it, and were being
converted into it. This had the ten
dency necessarily to diminish the
price of lands and houses.
All of this was well enough rs far
as it went, but the prime cause of the
decadence of the great cities of the
Atlantic sea-board seems to have been
strangely overlooked by their bust
ness men. No interviewer at least,
has yet intimated that any Of the
great men whose opinion he sought
ever turned their contemplative eyes
towards the South Every writer in
political economy who has obtained
any prominent place i'll history has
laid down as fundamental rule, that
the prosperity of every mercantile,
manufacturing or commercial people
depended mainly upon the prosperity
of its neighbors. The smallest trades
men understand this proposition as
thoroughly as Bastiat or Mill. Every
acre of land opened up in the Missis-
sippi valley adds something to the
number of spindles in Lancashire.
The South has always been the best
customer of the tradesmen of New
England, and strange to say that
very section has been our most per-
sistent and malignant enemy. We were
impoverished first, and this Empower
ishment is gradually extending to
our neighbors. We bought every
thing from them, being content to
cultivate productive soil, and if they
expect the rich and golden tide that
once flowed from the South, ever to
get in again they must unlearn and
undo many things. They must at
least foster and protect us until VIC
have regained our shorn strength, and
not fctter and cripple us by carrying
into practice the vagaries of dead
fanatics like Chas. Sumner. We do
not say that cotton is king, but no
one can be ignorant of the fact that
it at least is past part of that mighty
commercial quadrilate:al (which gives
us power. From the soil of the South
and from the sale, manufacture and
carriage other great staples the wealth
of the United States has sprung.
Simpletods figure up the ebay crop"
until its magnitude exceeds that of
the cotton crop, and many who can
not discriminate between purchases
made among ourselves, aud sales
made to foreign nations, think the
showing correct. Three-fourths of
our exports go from the South and
yet she is harrassed and plundered
all the time aud in every way. If We
could sell our hay to Europe and get
gold for it, books like that of Hinton
Helper would have some meaning in
them, but this we do not do. Cot
ton, rice, tobacco and sugar, cannot
be grown every where and hence their
power. Are these great products
still to be the pillars of our
financial and commercial fabric
This is the question before
the Northern people p? If they
will let us alone for while, If the
meddlesome spirit of the New Eng
lander is not permitted to keep us in
a constant state Of doubt and distrac-
ton, We can win back all that We have
lost, and again become an opulent
section, whose overAowing wealth
will enrich the North and West. But
if on the other hand our old enemy
is permitted to devise new schemes
for our oppression and annoyance, we
must become very primitive and
stay-at-home people, whose chief aim
will be to make meat and grain enough
for subsistence. Perhaps after al
this would be the best thing for us
at this time, but we are discussing
the matter as if we had some interest
i'll the trade and commerce of the
North. New York city real estate is
declining because the great South
grows poorer day by. day. She is
laying aside the superhuities
for the present, and even the actual
necessaries of life are bought more
and more sparingly every year. The
retribution of great national
wrongs are about to fall upon tins
victorious North. She has trampled
into the dust her best customer, and
the result begins to be apparent. We
do not say that such a country a!
ours, will ever fail to give a supper
to those who till it, no matter wha
policy the government holds, but tn,
Medieean splendor of our merchan
princes, and our importance as
maratime people will cease with tn
dimflution of the great Southern
products. Already our rice and su
oar trade have been reduced TO almos
nothing by the desolation of tn