The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1874-08-18
me solvency Of the South.

The Solvency OF the scum ~
Al very in,portan, question for the eapsss'..
isss of this couslrs and Of Europe is whether
measures Shall be taken TO preserve the credit
4 az the southern States or NOT. These States
owe Jointly very large debt, the pay ment
OF which depends entirely upon the mamie.
pance OF good government and OF ORDER anu
syssematised industry amongst the southern
people. How this Is to be done is 'he sieA'
question with The holders Of southern Use 50
curiaies."
The question is vitality importsnt % Int
whole Union. The dignity aud iotce ol lue
nation NAV be increased or diminished III
,,rono,,ion rs the southern States are pros.
,,srons or impoverished. Naturally, itshould
he the arden, wish Of every American cltl-
,sn-and we wish to be understood as speak
ING exclusively of white citizens, they alone
beng capsule Of considering the suhJect-
That there should be general prosperity ano
cop,eptment in the country, and the best use
should be made of ali the natural advantages
with which Providence has blessed the coun.
FRY. II ought to be painful To all such citi-
zers to see any productive part OF the nation
lsnpuishipg ID poverty from a badly regu-
lated and ihritless industry, while its rIcn
lands are growing up in bush aud their
products annually diminishing. Naturally,
tits should be the wish Of the whole coun-
,,y. and sooner or later will be. But the
var left its passions, and the dictates OF q
sound Judgment are retarded or suppressed
lp p-eiudices which, although softening ana
ding out, have still their effect amongst the
people.
But with the capitalists there is that direct
and positive influence Of seliin;eresI WHICH
admits OF no delay in the perception OF DAN
GER 10 investments. This influence must
have presented in bold relief to the capital
ist the peris in which his investments 10
southern bonds have been placed. Prejudice
and passion cannot obscure his vision nor
restrain bis efforts to save his property.
These people must have seen that their
southern securities must be asSuredly lost
unless the south has secured to her good
government and q conteDted, Well-regulateG,
and productive Industry. They must have
seen that without these there is no hope for
their property, as there il 60 hope for the
recovery of the South itself from the deep
down gulf of ruin and misery.
This is the question for cur friends the
capitalists, and the sooner they patiently
&, i'm
p,ovement, we speak not without warrant
when we say that the best Of the southern
States cannot pay their debts. What shall be
done it is for cur creditors and rulers 10 say.
Sufficient for US is it 10 know that as at pre-.
sent governed and regulated the South cam
not ret upon her feet and meet her obliga-
tions.
II will be well for statesmen as well as
capitalists TO look we'll into this momcntous
subject. The last nine years have sadly dis
appointed The south as we'll as the North.
Tine South hoped that from all her sad OPP
pressions and social Disadvantages she
might gradually recover. The North fel;
sure that its ianatical system of reconstruc'
ton would bring peace and success 70 the
South. Both have. been deludcd. The
South lived on hope, the North rested under
d delusion ted by vanity aud stimulated by
the spirit of greed and ambition, which
beheld in the future neSer-iaiing sources of
benefit from Southern reconstruction. Time
has steadily tended TO Danish the decisions
of all, and now, after nine years labor and
hope, the great body Of the South is less able
10 meet lis obligations than it was on the
third Cay Of April, 1865.
There must be some remedy devised for
this downward tendency, or there need De
no expectation that the South will pay, or
that she will be 4 very material contributor
10 the national force. Let those imme-
diutcly concerned, who may exert some con-
troll, consider the matter. The South has lit
lie power, and none at all in any matter
where she eXerts herself to reform the ma
tlonal policy by which she was put down IL
the dust. The people OF the South have
Hoped aud become wearied, and indifference
has taken the place OF hope, and something
akin 10 dependency has supplanted that
sense of honor which took ut first the form
OF determination to pay.
Evidently it is idle to expect good results
from the worst causes. People Of intell-
gerce reason justly. They cannot accom-.
pish impossible things. Reason and moral
ity exact of them no such thing. Matters
beyond their control-the mi>iortunes OF bad
government, to which they arc forced TO sub
mit-visit them with no sense of moral de-
linquencics. II is enough that they suffer the
evils.
Therefore, remedies must come for exist.
ing evils beyond the control of the South, or
there can be no compliance with public obi
cations. Let the capitalists and northern pol
iticians go 10 wolk to secure better things
for the South, for the nation, and for them.
selves.
In this article we mean not to speak par
ticularly Of Virginia but we must say that
she has not improved as We had hoped she
would.
Tho Es,o,,,rp~ hpinc hard nm for q theme