Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1875-09-28
AUGUsTA.
WHAT DEX0CRACY MAS COST TIE
SOUTH. N

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WHAT DEK0CRACY MAS C0ST TIE
SOUTH. wv
Democracy has been to The South an
expensive luxury. Its false teachings
brought abou, the rebellion. Let us see
what that cost The Southern States.
Al the close ofthe war the debt OF the
@so.cailed Confederate Government, was
g., s45. 297. 1925. April l.. 1865. E1
With the surrender OF the rebel armies
every dollar of this vast debt was wiped
ont Of existence. 1t was dead loss to
those who held its securities
Butfhis was not all.
The. loss 70 the States in property, funds,
assets and increase Of State debt in aid OF
rebellion more than doubles the amount.
When the late insurrectionary States en-
tered the rebellion, their debts and contm-
gent liabilities were S102, 5l6,I1 8o.
They held trust funds, assets and balances.
S7O,147,747.73. These funds and assets
were on deposit or in stocks OF banks
railroads and other internal improvements.
The banks had capital, over S61, 100000
coin. over SIS, 900. 900; circulation, over
e51 ,OoO, 600. The assessed valuation OF
property, real and personal, was $4,363,-
O3O, 347. O5. Included in this is the as
sessed valuation Of slaves, 81 1854, loo,34l
Valuation of property. excluding slaves
92.72s. s25, Oo6.o5.
Z When the Confederacy surrendered.
State debts and liabilities had increased to
e222, S4s, 1872. 90, an increase in five years
Of 1920, 331, 35502. OF this increase
sSg ,56r1 ,s57 As were Tor debts contracted in
aid of the rebellion. This was wiped out
by Constitutional authority. and became a
dead loss. The assets and trust funds
we're reduced $37. JAG, 45s.l9. The as
sessed valuation Of property was reduced
to 81, co., 400, APO. A loss of $l.125,52
577.05.
Add TO this the assessed valuation of the
slaves in 1860, and set free by the war.
81 ,634, 1O5,341. and we have total loss
in property valuation OF $2,759, 627 ,9ls.o5'
ia Therefore. the account of the Southern
States with democracy would stand as
follows:
Loss in valuation of prop
erty by rebellion S2,759, 627 ,9ls.0j
Increase OF valid debt 3O,7b3, 6.o9
Reduction in trust funds, ,o
Fl etc. 8s- sAs- Of ,l4o, FOOLS
State debts in aid of rebel :.
Debt Of Southern Confed-
eracy, April l, 1865 2,S4o,2Si' sza.ot
Hos Total loss IS, 1852, 400, 553 26
In addition to this vast amount, there is
the Indebtedness of Southern business men
to Northern merchants. in 1860, estimated
at over $500. 100000. Although this fell
upon the North, It may justly be added to
losses suffered BY the South, for, in point
Of honor it still remains charged against
those who incurred it. Thus, with these
commercial debts added. we have the
enormous sum Of S., 562, 403. 553. 26 lost ny
the Southern States during the democratic
rebellion.
Here was an amount, lost in less than
five years, in following the teachings OF ;
false political doctrine, greater by 81 ,1l9.'
$40, 2O6. 21, than the assessed valuation d
property in the eleven Southern States in
1860, and $3, 959, 00l, 124.26 more than the
assessed valuation Of property in 1866.
This Is what The fatal State Rights doc
trine has cost the South. Is it surprising
that such fearful sweeping away of
Values brought in its train general bank
ruptcy and ruin? 1t required prompt
measures on the part of the General Gov
eminent to prevent widespread suffering
among the Southern people. With the
close of the war the hand of help was ex,
tended by the Federal authorities and by
the Northern people. In 1865 bureau
was organized to extend relief. and under
its supervision $l3,230. 277.40 were ex-
pended in aid to people of both colors and
all conditions. In addition to this. mil
lions were donated by charitable associa-
lions and citizens OF the North. Governor
Patton, in his address to the people of Al
ALBANIA, July 10, 1868. in referring to the
destitute condition of his State at the close
of the war, said
at is but simple justice to say that in our ex-
IRENE destitution we found most timely relief at
the hands of the General Government. In the
course Of the years 1866 and 1867, supplies were
furnished US from that to the value Of more
than million dollars. In addition TO this relief.
large and generous donations in money and pro-
visions were made by individuals and charitable
associations. These donations were placed at the
disposal Of the Governor, and distributed accord
iag 10 his best discretion. Inasmuch as relief TO
large numbers Of our people was an absoln Q ne
ces.ity, TO prevent wide spread suffering we can
not but feel grateful for the bountifu assistance
extended from the sources mentioned" 4.
Only ten years have passed since a des-
olatc war closed on the wasted fortunes Of
the South, yet we venture the assertion
that history affords no parallel 10 the won
derful recuperation which has taken place
in so short period of time. Every en-
enlargement has been given by the Cen
elal Government 10 those who were in.
clined to rebuild their fortunes. The
spirit OF lawlessnes- which followed the
49, xxa 4. .nnro.va1 ir,,pn Statp (,nyprn