Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1875-03-30
BUsINEss THE SOUTH.

For years past our people have been
lectured semi-occasionally, and some
times scolded, for paying too much at
tention to politics, to the aeglect of
material industrial progress. But when
government policy is the main obstacle
to material development, the subiectof
politics is forced upon the attention of
a suffering people. 1t may be said fur
ther, that whenever the people, either
North or South, become too busy with
their private affairs TO watch and help
shape those of government, the Ameri-
can system must fail. We have no d.
vinely Amounted kings nor patented
nobility to look after public matters
for us and if we neglect them they
must go to the dogs. As striking il
lustration of the close dependence Of
industrial prosperity, upon sound poll
tics, we subjoin an extract from last
Saturdays issue of the Nelg York Econ.
onist and Dry Goods Reporter, a jour
nal devoted exclusively to the CONNER
cial interest:
Intelligence from a number of
places covering observations In nearly
all parts OF the South and Southwest,
shows a decided improvement In the
aspect Of affairs. This improvement
dates from the settlement by Congress
Of the political feuds of Arkansas and
Louisiana, and also from the failure Of
Of the Force bill. All these Questions
exercised a perturbing influence over
the entire South, and induced feeling
of distrust and uncertainty that exer-
cised baneful effect on business. In
fact, the bitterness Of politics seemed
to extend to every pursuit of life, and
paralyze1 all enterprise and speculation.
But the settlement Of the issues by
Congress seemed to produce an imme-
date soothing effect. It is true, that
the basis of agreement were far from
satisfactory to any party or faction.
But all were heartily tired Of the con-
tention and disposed to accept the ac-
ton Of Congress as a fnality. These
points settled, the peculiar American
characteristics Immediately manifested
themselves. The people set themselves
to work, and commenced preparations
for planting, buying and selling. The
change appeared to be sudden and COM
plete. Within a week the opposite -ex-
tremes of stagnation and business ac-
tivity prevailed.
The results of this change were soon
visible In the increase Of freight traffc
between Louisville, Cincinnati and st.
Louis, and the various towns in Arkan-
sas. The railroads and river boats
soon had all the freight they could at
tend to. In New Orleans similar re.
suits are visible though not In so mark
ed a degree. The process Of business
recovery seems to be slower in that
city, owing probably to the severity of
the ordeal to which'it has been subject.
But still the improvement both in that
city and IN other points Of the South Is
sufficiently marked to inspire the most
hopeful anticipations. Credit is re-
vIving, and it Is not too much to affirm
that business Is now better IN the
South, and promises better than at any
period since the close of the civil war.
And now, in view of the effects Of
the final closing up Of the political
issues Of the civil war, it Is apparent
that a grievous mistake, not to say
blunder, was committed IN allowing
these issues to remain so long unset
tied. Without going into the extenu-
ating circumstances that may be Of
fered on this point, it is evident that
the North has relatively been no less
sufferer than the South in the business
losses sustained. The Southern trade
was formerly the most profitable and
important branch Of domestic indus
try, and its long continued prostration
has seriously affected almost every
branch Of Northern industry. Our
financial panics were intensified be-
cause we had lost thesupp0rt and credit
attainablo from the South.