Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1874-11-06

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ERN rgOEBLEs-
The Following letter from the Hon.
E. D. Staudiford. of Kentucky. Pres
ident Of the L., N. & G. S. Railroad,
to a prominent banker of New York,
is gwen by the fTi;b5t,ns:S Southern
business mans view of the Southern
situation, with some suggestions as TO
the help and sympathy which business
men Of the North might extend to their
brethren m distress: ir.ast r
The people of the South are being
governed BY class of men who have
no interest in the prosperity OF their
adopted States, and, ind ed, do not ex-
pect to remain there after their lease,of
power expires. Their object is TO make
money by plundering the people. You
can understand what the effect of the
exercise of arbitrary power IN such
hands necessarily must have upon busi-
ness generally. Capitalists win not invest
their money where there is no assurance
of protection under the law, or where
the powers that be may come without
notice at any time and seize everything,
disarrange business and destroy credit.
There is no security, under the present
administration of affairs IN the South,
for permanence Of investment.
This condition of affairs, although
1t NAV not now be felt in the East, win
ultimately reach you, unless it be stop
ped. / am not speaking of these
things as partisan of any sort, but
as business man interested IN the bu-
siness prosperity of the South. ] think
that most of these evils have been
brought about by the useless and inju-
dicious interference by the General
| Government in State affairs. The real
intelligent people of the South, the
ones upon whom we must de-
pend to bring about "a re-
turn to commercial prosperity,
are the ones unfortunately against
whom Federal interference has been
mostly directed, and the officers whom
this interference has kept in power,
have come to consider that thei. con-
stituency is not the people of the State
but the Administration at Washington,
and act accordingly The present con-
dition of affairs has crippled the rail
road interests, nearly destroyed manu-
features, and demoralized all kinds of
business.
What the South needs to restore her
to position In the commercial world is
a sense of stability In reference TO her
establishments. We cannot expect
this from politics or politicians mean
in the general sense. OF course much
depends upon the Southern men them
selves; they viii have to work out their
own salvation; but you, gentlemen of
the East, can do incalculable good by
your advice and sympathy, and more
still by opposing the acts of oppression
under which the business of the South
is crushed, and which are fast closing
up the North's best market.
This is not a political view of the
matter; it is the view that business
men take of 1t. Who would feel any
safety in making investments in busi-
ness that In week, a month or a year
might be taxed out of existence, or
seized upon any proyocation, without
any adequate remedy provided in the
way Of damages? The Eastern capt.
talists who, in good faith. have in
vested their money in railroad and
other securities of the South, are being
continually robbed by the plunderers
who control the affairs of the extreme
Southern States. The Importance of a
change in the condition of affairs here
can be better comprehended when we
consider that our National debt and the
interest on it must be paid by the pro-
ducts Of the West and the South. The
whole country is vitality interested in
our prosperity.
Mr.. Standiford wrote a day or two
before the elections of Nov. 8. Right
nobly have our brethren of the North
come to the rescue.