The New York herald., 1876-09-08

Two or thfeo yoaru and TO the same neces-
sty thai our Pilgrim Fathers experienced, only worse
because the present population of Massachusetts, could
not at once get subsistence from IFS own soil, II
forced 10 work With only as much capital IN the iorm
Of tools as the Pilgrims brought over with them
souRcKs or PROSPERITY
prosperity CONSISTS much In the method OF spend
Ing as in saving 10 the quick distribution OF mod
crate quantities OF thngs that promotes general welfare
far more than great accommodations Each years. work
gives each years subsistence and freedom OF exchange
Is the most important factor in the good subsistence OF
communities or nationA
Our wage fund, consisting OF cotton, WOOL lumber
leather corn and all other crude products, exists thm
very year greater quantity than ever before IN 'he
more want IN the midst OF this abundance than wo
have witnessed for many years The force exists that
measure wages their purchasing power but We can
direct this force because whole system OF dis
bad system of taxation and by provincial insula
tion In the world Men want wages ihs year IN pars
Of the very abundance OF tho means OF paying
them Our true difficulty consists IN restricted DIS
tribuIion and consumption, very different thing, and
this restricted consumption happens no! ioF
rect the means to the end Again, when wc
consider the insignificant proportion which capital
bears annual production ind tho most profound
disrust all attempts divert that capita! by
means OF tariffs and other artificial methods 10 occu-
patlons that would not DO ireey chosen ana we Also
more fully realize the grave injury which arises from
the abnormal stimulus that war gives 10 certain
branches OF industry. In gwen year, not many
years since, tho combined stimulus OF war and OF an
tariff caused the savings OF several years 70 DO
accumulated in the form OF iron works and wooien
the labor saved IN those years was manly
wasted. Our attention must DO given main-
iy, as 1t seems to mo, neither TO greater accumua-
tion, 10 greater economy is II not true that much
OF extreme depression grows out OF an en-
forced economy that need not oxis' IN inc nature OF
the cases We been shut out from commerce with
the world, but the world wants all the substance wo
have to spare, ana viii give US In exchange greater
abundance OF comforts and uxuries that we all desire
We have been devotng our attention TOO much to ac-
cumulation and production, too little to wider dssr-
ssns anr .Da the very aSna.Do
Of productions has become an injury.
houses mills, no more railroads. no more mines
works Of any kind were ever TO be needed The sx
treme of confidence has been followed BY the extreme
distrust and the OF old capital must be to-day
going at far moro rapid rate than the accu-
mutation OF The destruction OF to-day is not that
OF invention and improvement, such as constitutes
progress but rather the modern destruction, such
Is caused by IRE and flood. What Is the present abun-
ALL What call money Is but bad measure, an unit
symoo OF the abundance OF commodities In existence.
The sOcaed money which one can borrow at the banks
three cent per annum Is not money II 10
title TO bricks, lumber iron, COAL corn, cotton and
all the other primary forms OF capital saved for fu
sure use at very low prices. Why ara these forces
idlet why Is there want In the midst OF plenty
Why is not this existing substance being consumed
more evenly? Why do the few have so much that
they know nor how 10 use. while the many who want
and willing TO work cannot obtain ny There can
be but one reply 10 these 81 ne
OF value and has substituted lie for q true stan
dard 1t has assumed that it can control and give d.
has eliminated IN obstruction and disaster Abundance
never yet ruined naton and every cause Of want In
this country can be removed II We apply ourselves to
the work
Mr. Nourso, OF Boston, read paper on the relation
OF currency to prices This and the address Of Mr..
Atkinson were warmly debated by Professor Sumner,
Horace White, Elizur Wright, and others.
SoRDHoFP's PAPER
Mr. Charles NordhoT read paper the condition
Of the South, from which we give the following
tracts:-
In what am TO say the subject assigned mo II
should be understood that speak Of six cotton and
sugar States only, naming Arknnsas, Louisiana Mis-
sissippi, Alabama, Georgia and North Carolina and
that the observations which found my conclusions
were made during the spring and summer OF 1875,
more than year ago.
the last census, 2,945Ss6 Of white and 2s42, ss2
OF colored people These colored people were,
It VIII be remembered, when 9ss. set ' FREQ abso;
nothing but the rags they stood in. The
experiment OF setting FREQ 1000 900 OF slaves with
out making any provision whatever for their suhsist
eucc without giving them houses to live in land TO
cultivate s bclieve unprecedented in the history OF
civilized society Russia da venture on any such
cncprsc she provided BY elaborate system Of reg
uiations for the maintenance of her freed serf..
bsriv ten years thew had in that time not ony lived
and raised tamil lies, and migrated In great numbers
from State TO State and engaged in an almost unesas.
ing turmoil Of politics, which moro less interrupted
tho resumption OF their labor, but they had besides
this everywhere accumulated considerable amounts OF
returns madc to the State government in 1874, owned
at that time a3s: 7ee acres of farming rcal estate
g. ZOO ll5 worth Of city and town real estate and paid
taxes to the valuation of 50, lb7, 79S.
In the States Of which speak the greater part OF the
colorcd people are engaged IN ssrcu'rse They form
the greater part OF the cotton, rice and other
exports OF these States This Is sufficient proof, Of
industry. In TACT they are tho most prosperous
class in the South. In my judgment; by
household in the States OF which speak probably
In his hands at the closc OF the working season. when
his crop is harvested larger surplus than the
larger surplus than the average mechanic or farm
laborcr OF the North He is a more prosperous being
Partly this TO the fact that tho negro engaged
in agriculture seeks the richest lands which often
Diseases partly Is due to tho fact that the negro
willingly works hard and still lives con-
ma,"ri;y Of cases ,ho eolored man is no, ,hs
owner land which he cutivates but he prefers
to be tenant, and he raises cotton either or nafa
tain number Of dollars por aero per year as rent. In
the and rice country they receive wages Moro
and OF them are buying farming lands, and there
Is difficulty in tno.r making such purchases any
where.
In the cotton country the land owner or plantor
lets his land from $s TO $40 an
per annum to tho negro; or moro frequently
houses fencing the use OF the gn tools and animals
and receives specified share OF the crop In all
the planter gives general supcrntendenco to affairs,
advises and insists upon the various operations
being performed at their proper times and in proper
manner; and this is found necessary 1t is done with
the free consent OF the colorcd people, The planter in
most instances also keeps store his place. where
the coored tenants allowed to have running ac
count IN advance ior their necessary supplies He
thus takes certain amount CT risk and II the crop 10
failure he expects loso because he docs not expect
his tenants pay out OF the following crop in TACT n
he did his people would probably leave him the fall
ure Of the crop
In this arrangement which cxccen, and suited to
both parties, the negro tenant, or renter as he is
called will havc good year. over and above his years
expenses at tho of the season. cotton value
OF from 800 $780, and in some cases even as nigh as
1850 or S4O0 This is actual surplus from the years
labor With that he can do what he pleases
In the and sugar country they spend their wages
pretty much in the way and there Is no doubt
that when some years ago wages were very high the
amoup, of money they saved In their then cond
ton and habits dctrimcnt to them, because II pro-
dncc nm unsfcadlncss un In iher habits.