The comet. [volume] (Jackson, Miss.) 1877-1882, 1879-08-16
INDUSTRIAL SITUATION OF
MISSISSIPPI.
TBE CAUsPs OF DISTRESS AND
THE REMEDIES.
BYA MISSISSIPPI TAXPA YER.

The presC 1t condition of this State
such as to demand from each one of us
thoughtful and candid enquiry into tn
causes of the prevailing distress, and tn
consequent discomfort and search fo
remedies, if there be such.
do not pretend to know more of thes
matters than others, or to havo discovered
an infslliblo remedy for tho ills which of
flict us. l Assume that the causes of oul
distress, and the remedy deeply concern uf
all aud propose only to cont ibute to
the common fund of knowledge the
thoughts which have occurred TO ms. If
they bo consistent with truth, they may
do good If they be erroneous, they may
at least provoke thought oud discussion
from which the ruth may be made mani>
| fest.
The stern truth is, we are in bad way.
Evidences of decay meet us at every step.
In the count: y the dwellings aud barnes are
in dilapidation, fences and bitches out of re-
pair, and much land, once cult waited, aban-
doned. There is but little remaining tAen
to make home life comfortable or dosira-
ble In the towns, the sound Of the an i
and the hammer and the noise and hum of
indust: y are seldom heard. Wherever we
turn we see evidences of decay, end hear
comploints of the hard times-of the pres
sure of debt. and the inability to procure
tho meP as for successful enterprise aud
labor.
The farmer, under tho influences Of hort
crops, unreliable labor, low prices OF fis
products, high taxes, End the high prices he
ID compelled to pay for all he buys-as the
result of tho system of credit now in vogue
is disheartened and disconsolable. The
merchant, by failure in his collecti ions-the
result of an improvident credit syste,n,
which seeks customers among the insolvent
md dishonest, with view that the high
'rices charged may cover all the lo1soa AIT.
rot yield profits also oppressed The
finds no ability in his customers
or employment, end is therefore unim- {
'loyed. The lawyer, owing to the stagna-
ion of ade end commerce, is without '
ees and the doctor, with no lack oi pas
tents, finds it eifficr't to live from his !
canty collections. Even tho saloon keep '
r has discovered shat the univorse' distress
as enforced er unusual abstinence f:om t
lie inebria;; 'ng cup. t
There is discomfort everywhere and !
espnir is now no uncommon sentiment. L
here is restless desire for change of b
me sort. Many wish to emigrate further 81
est. Many wish to try their fortunes 4
me other occupations. MFly-fsr too cs
ring of bettering their con''- 2
IN in private life, are looking to public VI
ice as the most reliable means of pecuni- bt
y Advancement, OF
In many places the negroes have the as
'nsas fover end VIZ 1t to go away. of
There e few who do not wish to sell in
Dir lands there are none who wish 10 tel
y them. The causes for FL this are mon va
Id. I'll
Undoubtedly great part of this dist 'ess alb
lR .ibutable to the too sudden and hasty un
umbtion by the Government of specie arc
7ment, whereby the paper currency was
de equal to gold. Many of the debts grt
v due, and which must be paid--if paid mo
all-in gold or i J equivalent, were con- me
cted when greenbacks were 10 and Is to of
per cent. discount By resumption the the
den of 'hese debts has been as much jn- mo
ased, as If the difference between green acc
ks and gold, as it ex sted when they were Gus
lted, had been added to their face. con
Ioney for f'l other purposes thr pay 8, q
1t of debts, is moro valuable now than the
r before. 1t viii buy, for the same suff
mt, more than at cry former recent tain
but it takes as many dollars worth rect
cents to pay debt as were reqr red to valr
the seme debt when the legs' tender adv
ar was worth only so or 80 cents. sree
unfortunate debtor must Sc" at gold of
es, his property, to rG'so money to pay Lane
bt contracted in a currency wor'l very His
h less. at 81
his ia hards' p and a g.eat one; s1d and
with great force on the people of the fa.l
h who have always been in tho main to b
ors. But it was probably lavoidable for
RESI- t of res- mp on, unless Congress pay
taken advantage of the present depre from
on 4 the value of silver, and provided II
be coinage of severn millions of the driv,
grrin9 silver dollar with its lege' tender the (
city restricted TO 'he payment of II in th
J con- acted before the resumption. II who,
had boon done this coin would have had as p
title more value than the pr.co in tho dem'
.et Of the brllion contained ia it aud tionC
ebtor world have had tho advan &c of not L
Inference in = 5 Vi ne md gold the losse
lent Of his debts. ers b
nv tI's wpl never done no- eyer pros 'le (
|, never oor'd understand. As am impr
D ''tical economist, nor IN oz, present, happ
ospective member Of Congress, shall meme
mt myself with 'ie suppoG.tion that are k
len is, for some reason unknOVl to in u
dealt
. suggestions made by some, that We meny
, have an vnlimiIed issue of green It is