The Pulaski citizen. [volume] (Pulaski, Tenn.) 1866-current, 1875-12-16
MAJ. SYKES SPEECH.

y
which am announced to speak, but
will also discuss some other matters
which are german 70 the main ques-
tion. 1t always affords me more
pleasure to utter words Of encour-
agement than words of discourage
ment. I would rather look on the
bright than on the dark side of a
picture. Things are bad enough in
reality, without making them worse
by uttering complaints, or indulg-
ing in fits of gloom and despon-
dency. I reiterate the sentiments
expressed by me in speech, deliv-
cred in this place, on the first Mon
day in January, 1875, Another
cause of hard times is the disposi-
ton to croak and complain. This
creates alarm, and causes people to
hold on to the money they have,
through fear that times are going to
get worse, and thus times are made
much harder than they otherwise
would be. There might be millions
OF dollars among US, and if it did
not circulate it would do no good.
Restore confidence by a liberal pol%
icy and it will cause the free circu-
lation of the money now among US,
and thus afford great relief The
cry of hard times, like the panic in
an army, creates needless alarm,
and brings about the danger which
a bold course would avoid"
The quantity of land now in grain
gives assurance of abundant food
crops this year, and if you farmers
will continue to SOW grain-spring
wheat-and not plant any
land in cotton or tobacco, except
what you have thoroughly prepared
and can cultivate well. though you
will have fewer acres, you will have
more abundant crops. The ''hard
times will force economy, ard you
will be compelled to rely upon your
own farms for food and forage, and
not send all your money abroad to
purchase that which you can raise
at home"
Have these predictions not been
verified? Are not the food crops
much more abundant than they
were last year? Has not your only
disappointment resulted from the
failure of the cotton crop, which you
were warned against time and again.
Continue the policy you have pur-
sued this year in regard to grain
crops, and soon your troubles will
be at an end. Abundant grain
crops, if continued, will produce
abundant hog and cattle supplies,
and then if you have little money
you will not have much use for it,
because you will have very little to
buy, having raised your supplies at
home.
PUBLIC INDEBTEDNESS.
You are sometimes told of the
enormous Indebtedness of the coun-
try, and when you read the startling
figures you are filed with terror and
alarm. The debts are large, it is
true, but the picture is not so dark
as is sometimes drawn. 1t cannot
be denied that much of the indebt-
edness of the country was needless
ly, if not in many instances, cor
ruptly contracted, but bad as it is,
it is not so terrible as many seem to
think.
will give you the amount of the
Indebtedness. and then will present
the increase in the wealth and pro
ductIons of the country.
National debt s 100000, ,OOO
State County and NUM-
| cipal debts -. 1,5OO,OOO,OOC
Total .........$ 3,6OO,OOO,OOC
Interest upon this amount
! at six per cent ....... S 2lS, 100000
INCREASED WEALTH.
Let US now see what has been the
increase in the wealth of the coun-
try since 1850.
Value of real and
personal estate in
1850 ...... 49,. 5 1000, ,0O0, ,0OO, ,OOC
In 1870 ........... 30,000000, ,0OO, ,00i
If the value of real and personal
estate in 1870 be reduced to the
gold standard by taking of ever
twenty per cent. then the account
would stand thus;
Value of real and person.
al estate in 1850. .... s 7,C00,000,00t
In 1870. ....-... ........ z4,OO0, ,00O,OO'
Increase. -: SlI,OOO,0QO, ,OO'
The value of farms in the Unite,
States was:
In 1850 ..... ....-... .$3,37l $50 ,42i
In 1870 ....-..... 9,263, sos, SO
Increase. . $5,9sl ,22s, ,4SI
If we take off twenty per cent
from the value of farms in 1870, OF
account of what is called a depre
ciated currency, the account vii
stand thus:
Value of farms in 1880 BIZ, ,575, ,42
d" " 1870 z,4l0, ,243 ,0S
Increase .........-.-. 81, lbs, ,e67 ,66'
1t thus appears that the value o
farms in 1870, when reduced to tn
gold standard, was $4,13S, ,667, Go
more than it was in 1850, and tn
value of the real and personal estat
in the United States measured b,
the same standard, was $l7,00O,O 900,
600 greater than it was in 1850.
The interest on the public debts
as before stated, is $2Is.o00.00O.-
ANNUAL PRODUCTS.
Let us now see what is the value o