Southern standard. (McMinnville, Tenn.) 1879-current, 1885-07-25
Is the Spell Broken {?

ness affairs? The strain upon many
people is very great, hardest upon the
poor who have been thrown out of en-
ployment. We shall not trace the hiss
tory of the depression, nor undertake
to show its cause, further than to say
that the general opinion is that it was
disturbed confidence by the breaking
of a few banks-gambling banks. In
legal contemplation there is no contrac-
tion of the currency; but the alarm by
the breaking of few banks has practi-
cally contracted the currency to the
extent of many millions-s63, 100000
in the banks of one city. This con-
traction put people where they could
not buy, and there seems to be an
over-production. For two years the
cloud has grown darker and darker.
Is it rifting away? is the important
question. The aggregate loss and suf-
fering by this long oppressive financial
strain cannot be told and will never be
known. The shrinkage of values has
literally crushed out thousands upon
thousands who were in good condition.
1t has reduced others to state of pain
full anxiety as to the future, and it has
made the homes of the poor labOring
people places of sadness instead ofplaces
happiness. The waste of physical en-
ergy and mental force, to say nothing
of other infrmities which want and
dissipation have brought, is telling up
on the whole country. The suffering
is distributed and hid out of sight, so
that people in afiuence, and who do
not share it, scarcely know of its ex>
istence. But the deliverance will be a
year of jubilee. Is it coming? The
signs indicate it. These signs are many.
The crop prospect is the most note
worthy. Such a cotton crop, corn crop
and fruit crop were never known-cer'
tainly not for many years. The talk
about this crop is inspiring. 1t buoys
up the respondent. 1t is not the
actual cotton and corn and fruit that
improve the times so much as it is the
knowledge that we are going to have
them. 1t inspires confidence in the
future. This bottom fact, with others,
has already developed other signs, the
greatest of which are advancing prices,
demand for securities, people with
money willing to buy something, bid.
ding against each other, and running
up the prices. Substantial stocks of
all kinds have gradually advanced fot
two weeks. This is waking up the
bankers, who generally concede that
the cloud is passing away. Some of
them are enthusiastic over it.
There is another class-safety valves
men who are natural bears, men who
known how to make money and how
to keep it, but live in dread of disaster.
If the sun shines they say there will be
drouth; if it rains they say there will
be a food. If it were to rain silver
they would swear it was pewter. These
men, of course, have discovered moth
ing. The signs are mighty dark, they
can't see any light; but there is just
one hopeful sign about these men. II
YOU see one of them on the streets
everybody knows them. there is just
little smile on one side of his face
he would not confess it, but it's there
and so, taking all the signs into con-
sideration, the outlook is by no means
so gloomy as six months ago. The
whole question is simply one of conf
dence. 1t is not question of over
production, nor of defective legislation
nor change of Administrations il
simply question of confidence.
Confidence restored, the inactive
money will become active; men vii
no longer lose their interest; they vii
press the men Of enterprise to take
their money and use it; the offer vii
be accepted people out of employment
will 60 back to work; they will begir
to buy things for their families, and the
cry of overpoduction will be RELOCATED
to the next panic.
A few weeks will determine whether
the pointers are correct. We are great
" encouraged from the fact that Will