Southern standard. (McMinnville, Tenn.) 1879-current, 1890-01-11

Can you form a conception of that
amount? These 1907 ,057 enamel
pated people, without dollar oftheir
own; with all the crime, poverty,
ignorance, and disturbing conditions,
that were naturally incident to their
sudden political transition, were pre-
cipitated upon the poorest, most
wretched, and most dlsorganized Sec
ton of the country.
Was there ever people weighted
with such burden and confronted
with so many and such complex
social and political problems? They
themselves were DISTINGUISHED, and
had no voice in the control of the
remnant Of their fortunes. Hordes
of creatures-Goths and Vandals,
leeches and vampires-poured in
upon them and devoured their sub
stance. Offices were farmed out like
Roman provinces or Persian satra~
pies. 1t is related that one of the
carpet>bag judges, thrust into Office
for political service, who had ac-
quired all of his Knowledge of law
at party conventions, on the first day
of his assumption of the judicial
ermine, upon motion being made
to dismiss a bill for want Of equity
on its face, gravely asked if the mo-
ton had second. A lawyer, APP
preciating the humOr ofthe situation,
seconded the motion. WhereupOn
his Honor, amid the ripping merri-
ment which ended in riUtous laugh
ter, said: Gentlemen, you have
heard the motion. All those in favor
of it will make it known by saying
aye" The most reckless legislation
prevailed. Overwhelming State,
county, and municipal debts were
created, for which no benefit was re.
ceived except by the knaves who
manipulated them. The great seal
of the State of Tennessee was taken
to New York, and State bonds were
: there manufactured. War wa:
terrible, but it was glorious. The re-
construction period had not single
rift in the black pail, that hung ovel
I the people, to show there was silver
lining behind. In the darkest hour
: of his fortune, when his friends hat
deserted him, Wallenstein eXclaim
ed: "Night must itbe for Friedland''
star to shinew 1t was in the long
, gloomy night Demonstration, wher
e even hope had bid farwell, that thu
+ splendid qualities ofthe Anglo-Saxor
e displayed their greatest luster. A
e first it was struggle for the bares
g necessities of life. Accumulation
was almost imperceptible.
The tax valuation in Tennessee il
1869, after four years of recuperatiOn
: was $lj5, S2l ,6ll less than when tn
| war began. The slave valuation il
$ 1860 was $l14, 1854 Thus, in add
: ton to the loss of the slaves, ther
was in 1869 an unrepaired loss G
u $40,S45, 23S. 1t is far easier to destro
: than to restore.
In 1870 we in Tennessee, by
coup d etdt, got control of our ow
! affairs. That was the beginning of
" new era. Our population, from 1876
to 1870, increased but 1874 per cen
y From 1870 to 1880 it increased %.
> per cent. From 1860 to 1869 our Ia
g valuation decreased $155, S2l GIL fror
!, 1869 to 1889 it has increased $103, 543
. 1870. In 1860 the banking capital {
! Nashville was So, 100000; in 1860
:, was but $350,0O0. Today the capit'
g and surplus is s., O74, 4S7. All of GU
III
- national banks pay > per cen
! quarterly dividend, and the stock
=, at a premium of from 20 to 40 pr
ir cent. One year after the war ii
=, banking capital of the entire Stat
~ was less than $1,000,000. Today Il
y capital, with surplus, is l5,996,OO
Our laws governing mortgages an
. deeds of trust render such inves
- ments as safe and the collections ;
n expeditions as those of any State
. the Union. | have never know
~ usury to be pleaded but twice, an
: that was by creditors of the borroN
a. ers, and over their protest.
ta In 1880 there were used in OF
j. cotton mills II, 1886 bales, and in 1873
81, 6l0 bales. In 1854 Tennessee mac
a 4O,3O6 tons of iron. In 1880 we mat
1873 tons of iron, while in 1888 Il
g, product was 100000 tons. In IS
@. she did not make a pound of crucib
10 steel while in 1888 she made 1,2
1d tons.
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