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

exchanges chime In with the popular
anticipations OF revival Of business
and the various branches OF industry.
throughout the country, as first among
the fruits of Democratic victory. The
Radical cry Of danger to the national
credit and finances, falls as inert upon
the ears of capitalists as Attorney
Williams cry Of Kuklux upon those Of
the Northern peeple generally. The
United States Economist of the 9TH
says: with respect to the probable
influence of this great change on the
finances and the money market, We
fnd.at present no evidences of any
scare. Affairs apparently movein their
accustomed routine. No one appears
to be IN hurry to part with his Gov
eminent bonds, and the cables are all
provokingly silent as to the anticipated
return Of United States securities for
sale in New York. Evidently the for
eign bondholders, if they know of our
political revolution, are indifferent to
it and to its consequences. They are
not frightened by the terrors
of Democratic reputation. The
view of our contemporary is that
capitalists had already lost all conf
denee in Radical legislation on the
finances. The utter incapscity of Sec
Rotary Richardson, during the panic,
and the indifference and ignorance
manifested by various members of the
Administration as to the real causes
and remedies of the financial excite
ment. ahenated and disguised bankers
and capitalists. Then again, during
the summer, delegations of the fore
most business men in New
York, Boston. Philadelphia, and
other cities, visited Washington to
protest against initiation, and seek mod
iications In the revenue laws. 1t is no
secret that what these gentlemen saw
and heard during their visit was not
calculated 10 impress them very forci-
bly, with the capacity either of the Of
ice-holders or of the Legislature, and
many came away impressed with the
idea of the necessity of a change. 1t
thus seems to be as much revolt of
capital as of labor against gross mis-,
management. The Economist remarks,
with the emphasis of italics:
As to thewell known timidity of cap
ital, and its dislike of changes, The i'm
portant fact is to be noted that long be-
fore tkis change had taken place, capital,
so to speak, had closely b1atoned up ats
breeohes pocket, and refused TO hare any
thing TO do Nth Affairs and things as
they s0ers. And it was probably owing
to this very action Of capital In bring
ing the factories, mills and business
generally to a stand still that the revo-
tuition of Tuesday last was consum-
mated at last.
On the question whether capital viii
now open its purse-strings, so as to
start up the many factories that have
been closed, give impetus to anguish
ing industries and employment to idle
workmen, our New York contemporary
anticipates a cheering response. 1t
says ''the Democratic party appears to
have outlived the distrust it excited by
its financial policy, just as it has out
lived the distrust of its loyalty. The
great weight Of Democratic tradition
in favor of hard money commends the
party to all safe and prudent men.
Resumption, 1t is to be remembered,
involves great many corresponding
changes in the tariff, banking laws,and
above all, curtailment Of Federal ex-
penditures and reduction in the num-
Der of holders. The Economist,
therefore, cannot resist the conclusion
that the change viii be for the best IN
terests of the country, and that we may
soon see the results in returning conf
denee and business activity. The sus.
pense is now over, and that at least is
a gain.
The Netr York Bulletin, another
commercial organ of high repute, notes
specially the good effect likely to de-
velOp in the South, arguing that, astbe
present unpropitious condition of the
material interests of the country is
largely due to the prostration and gen.
eral impoverishment of the Southern
States, the matter becomes of general
interest. 1t rests with our people aud
press to demonstrate that there is no
such thing as a real antagonism of
races, and that, but for the meddling
of self-seeking mischief-makers, the
reconciliation of interests, as between
the whites and blacks, would be per-
feet. That we have already given
many evidences of this is recognizedby !
the Balletia, which cites one instance; |
We might point to the fact that at |
the recent election In Louisiana, the |
names of white and colored persons
were, In not few instances, upon the |
same ticket, and that, too, at the formal
invitation of the former. What better
assurance than this could be had that,
aside from sporadic cases of violence.
lying sometimes at the door of the
white, and sometimes at the door of the
black-just as often among ourselves
here at the NOrth-there is no such
thing as an antagonism of races, or
that if the country ever was menaced
by a calamity of this character, the
peril has passed.
With better understanding of our
situation, the road will be open for
such an influx of home and foreign cap
ital into all the long sluggish arteries
of Southern industries and Southern
commerce as cannot fail to work for
them, as it seems to us, wonderful
transformation The Bulletin thinks
the time is peculiarly propitious for