Clarksville weekly chronicle. (Clarksville, Tenn.) 1873-1890, 1876-04-01

THE Gallatin Examiner, In an arti-
Gle on State credit, concludes with the
following, as part of the reason why
the State can not afford to repudate /:
A leading merchant of Nashville
stated to US recently that goods were
sold in Northern cities to Ohio mer-
chants at an advance of about 20 per
cent; to Kentucky merchants at about
p per cent, to those for Tennessee at
u figure above that to Mississippi
merchants at 40 per cent, and to Texas
merchants at about 60 per cent. The
reason of the difference consisted in
the relative promptness and business
habits of the people of the several
States. Those of Ohio might not be
essentially a more honest people, but
they have higher sense of the sacred
ness of contracts, paid their debts with
more promptness, and thus made it to
the interest of the seller to sell them
cheaper. Place Tennessee on the list
of repudiating states like Mississippi,
and it will not require a moments
calculation to see that every single ar
ticle of consumption imported into
the State will be charged accordingly.
Put US on the forty per cent list, and
let US see how it will work. We have
no statistics of the actual importation
of goods into Tennessee, but we do
know that the census of 1870 gives US
a population of about one million and
a quarter of inhabitants, These peo-
pie all wear boots and shoes, and at
N of fvun L.,
Two dollars pair, a good merchant
assures US, is about an average cost, or
four dollars year for each person.
This estimate would make the boot |
and shoe bill Of our people at five
millions OF dollars. Now an advance |
of fifteen per cent would be $3.50, 900, |
or three quarters of million of dol |
lars. The same merchant estimates !
the dry goods sold at FIVE times as
much more. This item would foot up
$50, 900, 900, and an advance of ID per |
cent would give US So, 10000. The |
agricultural implement trade is over
one million dollars. The grocery
trade in articles imported from the
North enters into its millions. 1t is
safe to put the Importation at 500 000,-
600 and very reasonable to conclude
that the advance that we have spoken
of would appreciate the selling price OF
goods from fue TO screen millions Of dol
lars annually, In other words, the
material and direct consequences of
our reputation would be that the
farmers and others of Tennessee would
have to plank up four or five times
more of their hard earnings to pay for
than they would for hon.
esty.
In these remarks we are looking at
the question merely from a selfish
point of view. We are not consider
ing now anything in reference to the
question how to pay" That will be
the subject of another article. We
believe that it is best for a State to be
honest as well as an individual. And
no more certain is it that "the wages
of sin are death" than that the Com
that repudiates it's private
debts is bound to bring disaster as
we'll as dishonor upon its people,
SUMMARY.
Cost of honest policy by paying the
interest upon the public debt per an
NUN, $l,250,0O0.
Cost Of dishonesty, being advanced
cost upon purchases for the farmers {
ind property holders of Tennessee, !
. 600, 600 to 81 100000 per annum. ]
By the policy of honesty, the inter- !
st upon the public debt can be met,
md, as "a penny saved, is penny t
enough can be saved 10 few c
ears 10 create a sinking fand to dis a
barge the principal.