Year: 1875

ASPeoo " 9ovu mOtlFe 20 pul


the matter 10 as cheerful an aspect a:
the truth of the situation will allow
, We are not going to attempt 10 deny
, that times are hard. But, IL ths7 are
hard with US here 10 the South. the
!, | people of no other section of the Union
are in much better condition. Obser-
: want political economists ascribe it, in


a great measure, to the mismanagemeat
OF our National financial system, reck-


less contraction Of the currency in


pursuit of the iqais ftttuus of specie
resumption at fixed date in the near


future, begetting universal want Of


confidence, diseouraging industrial en-


terprise and fostering money monopoly,


resulting In the suspension of man


ufaetures aud public improvements,


and throwing millions Of people out OF


employment.


IF this bears heavily upon the eoun-
try at large, with how much more


severity is the oppressive burthen felt


in the South, so fearfully prostrated


and weakened by the late war? And


yet there are reasonable grounds for 4


beneficial reaction from which the


South may take hope. Just for a mo-


ment briefly review the terrible ex-


perienees We have gone through with,


and consider the remarkable vitality


of the section. With no other losses


by the war than the years wasted and
! the fearful cost of it, together with the
destruction of improvements, burning
Of cities and towns and devastation of
fields and forests, the South would
have suffered an impoverishment from
which it might not have recovered for
q generation, but for the geniality of
its climate, its prolific soil and the
energy and pluck Of its people. No
peoplein historyeyer suffered heavier
drain-pluuged from the extreme Of
prosperity to the very depths Of desti-
tuition. Upon the heels Of this came
emancipation, BY which millions ofthe
wealth and credit Of the section van
ished, as it were, ID night. The loss
was not only in the money value of the
slave property. With its loss came
the incidental and inevitable depre-
citation of the lands of the former slave
owner. No matter how individuals
were affected, here wass destruction
of wealth and credit resources which
fearfully crippled the whole section.
Directly and indirectly il was loss
felt by every member Of the Southern
community. So much capital was con-
sumed-so much confidence destroyed,
and as a consequence 50 much the less
disposition or ability to 50 employ the
wealth Of the section ss to give re-
munerative employment to the labor
and enterprise Of the section


Then followed the political vandal-
ism of the carpet baggers, and political
vagrants completed the pillsge which
camp followers of invading armies had
neglected. The protracted reign of
foreign adventurers unsettled every
thing and kept the section in contin-
ual turmoil of excitement and uncrr-
tainty. This added to the impover-
ishment already produced by the war
left the South in very feeble con-
dition to withstand the monetary press
ure brought abous under ths bungling
or knayish management OF the tinace5
of the nation by the party in power.
And yet the South has passed through
the erueible and still exhibits vitaii-
ty that is marvellous under the cireum-
stances. --.


Our hope in her future is this very
manifested power of endurance. So
far as the experience of hard times
goes she has touched bottom" and
could hardly any further go. Itwould
be difficult to conceive Of a more de-
plorable condition than that which she
has happily survived. We believe she
has seen and known the worst, and is
at last on rising ground. Her crop
yields this year promise an abundance,
without precedent or parallel IN our
history. If her cotton and tobacco
should turn out as we'll as her growths
of wheat and corn, and other staples
and there is every reasonable prospect
that they will-the South will actually
be rich again. The South is really on
rising ground again. Whatever change
awaits her now, must be for the better.
With this hope comes the prospect of
a change in the management Of the
finances Of the people, that must, In
the very nature of things, swell the
tide of prosperity. 1t begins to look
like a great joyful awakening, after
long, dreadful nightmare. This IS not
merely the rose -colored dream Of the
enthusiastic optimist. The signs of
an improved and fast improving con-
dition are apparent every where. Ii
is beginning to be felt in the returning
confidence in commercial circles-the
retail tradesmen are beginning already
to get in orders for fall business, and
wholesale dealers now have their rep
resentatives hard at work in the East
erE markets. Everybody says, and
everybody feels, that we are going to
have heavy business this coming fall
and winter. A few weeks more of hot,
crop maturing weather, and the activi-
ty and hustle will begin in earnest.
As people generally exhibit more con-
6dence and faith in the future. and
summon to their aid little more in
diyidual pluck and dash, the situation
will continue 10 improve. Prosperity
depends, after all. a good deal upon
the temper and disposition of the
people. Croaking and forebocing
would make times hard, where there
was no justiiable reason that they
should be. t.


Even the real estate market, which
has been depressed mora By the fnan-
cial policy of the Government than
anything else, is beginning to show i'm
proyenent. The real estate transfers
show larger sales and larger lots. Ger
tainly there is no better time 70 invest
ones surplus in this species of proper
ty. when it is down to bottom prices.
Upon the real estate Of the country at
large il based the wealth and credit OF
the nation-its currency, revenue and
ali of its resources. Iteannot hy away
nor be wasted, nor be swallowed up by
repudistion. When money becomes
more plenty from the sale Of the pro-
ducts of the fields, and capital less
timid under an abandonment of the
contraction policy. and the legislation
of the country is not any longer in the
interest of the moneyed few 70 the de-
triment of the industrial many, then
men will invest in manufactures and
the improvement Of real estate, and
thousands will find employment who
are now idle, and prosperity will again
every whore prevail.-Nashciite Ban