Clarksville weekly chronicle. (Clarksville, Tenn.) 1873-1890, 1877-12-15

quirer. There is always somethins
to be learnt from Gath; he has tn,
art of mixing and talking with al
sorts of people and, while his indi
vidual opinions are more often a
variance with ours than in harmony
with them, we get at the views of (
great variety of people in studying
his combinations. So we thank
him for his glimpse of Massachusetts
as a community of bondholder
who live on the interest of theil
bonds. This unproductive lounging
and loafng class it is the tendency
of John Sherman's policy toincrease
indefinitely:
| / met Timothy Davis to-day,
Democratic member of Congress
from the Essex, Massachusetts Dis
trict, in 1868.
"How is the Republican party
holding out in Massachusetts ?''
''They elected Rice by the aid of
the liquor vote. That gave him
pretty solid support in Boston,"
"Do the Republicans generally adj
here to Hayes"
"They did at first, but are falling
off. The tendency Of the recent de-
bate in the Senate has been to
strengthen the anti-Hayes or Con-
gressional wing, as the more reliable
I party of the governments
Are parties held together very
firmly in New England?"
mo. If the financial question
comes up in New England, it will
split everything to pieces. And /
think it's coming up very soon."
"Why has itnOt been up already?"
s'Because it has never been debat-
ed with us as it has been in the
West. The soft money or anti-re-
sumption side has never been vigor-
Ously presented.
"Why doesn't Ben Butler present
.it?"
"Butler was elected, as l under
stood, on pledge that he wouldn't
agitate that question"
"Why should the financial ques-
tion strike New England at this late
day?"
because the times are harder
there this year than last"
"What makes that ?"
"The great cause of New Eng
lands prOstration is in the existence
of 81, 100000 of Government
bonds, of which $40O, 100000 ara.
said to be held here. The capital
and the business capacity which
used to be put in commerce and
business finds a better security in
those bonds than in enterprise. Con-
sequently, the ablest men we have
mainsprings of our communities
are doing nothing, or travelling in
Europe, and the laboring and me-
chanic class is idle"
"GiYe me an illustration ?"
"Take a ship-owner or CONNER
cial shipper. He built ship every
little while, employing sailors, ship
carpenters, rope-makers, sail-mak-
ers, calkers, ship-store supplies,
painters, &c. On a capital of $780,
600 he did 81 900, 900 worth of busi-
ness. That interest stretched all
along the New England coast from
Maine to Long Island. Now he
goes to bank to borrow $4,000.
The President says: 'Our Directors
are disinclined to take any risks.
These Endorsements of yours seem
to be good, but in these times we
hardly know who is good. l would |
rather take your own obligation |
than these Endorsements. Just |
give me some Government bonds |
and you can have what money you
want at four per. cent So you see
the brain has almost gone out of the
society. 1t is the class having the
enterprise and capacity, and moves
the whole society in ordinary times,
which is tied up in the bonds"
"What is the remedy?'
sEFOr that condition of things per-
haps nothing. / am in favor of ex-
tending the use of the greenhaoks |
to the payment of One-half the GUS
toms duties. That would break up |
the gold speculating shops"
PER CONTRA,
/ repeated part of the CONVEX
sation to an eminent New England |
merchant, who said:
"There were three departments |
of American production: the sea,
manufactures and agriculture. Ag-
riculture is better off than ever it |
was in this country. The West is
supplying the world with wheat to |
eat. Ny relative has been shipping |
corn to England; it Is used there |
now to feed all kinds of stock and |
to make Scotch Whiskies. He was
reprimanded theOther day for ship
ping new corn, which had come
into market so asst that it had not |
been expected when he received his
English order. So with butter and |
cheese; sixty million dollars of it is |
the years increase.
.As to the manufacture" added |
the gentleman, "they were greatly
oyer-stimulated in the war and in
the constructive period following it.
They are now relatively fat every
where, and we are exporting their
surplus products, often under cost"
"As to the sea, we lost that by the
Rebel privateers and by the appre-
citation of interest during the war,
so that money would earn twelve
per cent. on land, and could not loan
it in commerce. The English took
our carrying trade and built iron
steamships, and they are now earn
ing immense sums, carrying our
crops and produce. But interest and
labor are again low, and we can
build vessels and sail them at re-
lative profit over Investment on
land. Our merchant marine Is al
ready reviving, and will be the next
thing to come up. GATH.