Year: 1873

A vast deal of the property Of the South
is fictitious She receives vast sums for her
cotton and her sugar, yet she is no richer
for it; she lays up no stores projects OF new
commercial enterprises, both in town and
country, is very low and well nigh unsafe
able. AS the South is almost exclusively
an AGRICULTURAL country, the low price Of real
estate conclusively demonstrates that her
prosperity is more apparent than solid.


No doubt much of this depression lin the
price of real estate is attributable to the u!n
reliable character of the lsbor which we are
forced to use, and the necessity which we
are under of employing two laborers in order
to get the labor of one, yet the fundamental
cause of the present state of affairs must be
looked for elsewhere than in our system OF
labor.


1t grows out of several causes. Chief
among these is the want Of confidence, which
leads moneyed men to hoard their money in
stead of putting it into active circulation, or
investing it in commercial and manufactur
ing enterprises.


Secondly. Itgrows out of the absured sac
rifce Of ofindependencc an comfort to the growth
of cotton and sugar Our cotton and sugar
crops are thrown into the lap of the North
west, and we are no richer by the exchange,
since we are stripped of our money buying
that which we should make The downfall OF
slavery, was, in ITSELF prodigious revou-
ton. History, full as it is of revolutions and
vicissitudes, furn shes nothing to parallel it.
1t suddenly put an end to the far nteste in
which the South had slumbercd, and threw
her white inhabitants on their own resources
it swept away her labor system and foisted
an entirely different one upon her; if 1t
pitchforked the late slaves into free
dom and citizenship, it also revo!utionlzcd
the condition of their late masters, and im-
posed new burdens upon them. The eXl-
gency demands steady perseverance, rather
than dash; energy; instead Of Incidence !;
cool.headedness rather than fiery passion,
and that sterncst and homeliesr of all virtues,
economy, instead o. the openhanded pro
fusion Of the oden time.


The first Of the grave duties dcvolved on
the white inhabitants Of the South is to force
the NOutn lnlO tnc new CIlIIHcI uIdl hVu '"'
for her by the downfall of slavery.


This new channel is a change in the en-
tire commercial, agricu cultural and industrial
system of the South, SO as to attract an influx
Of white population both from the North and
Europe-to open new avenues of commerce
-deveops our latent resources--utillze our
waste and unproductiyc lands, and keep our
money at home instead of cnrlching the
Northwest with it, To effect this mighty
change we must make up our minds to the
fact that slavery, with its customs, habits
and traditions, is stone dead, and is incapa-
bic of resurrection. Leaving the negroes to
work out their own destiny, we must arouse
the white men of the South to the necessity
of putting forth new energy and activity IN IN
order to escape from the "slough of dcspond
into which the war precipitatcd us. The
negro race never will be rcplenished and re-
cr1ited from the jungles Of Central Africa
and SO, must depend on its natural increase
to keep up its present numbers, while the
whites will be increased by immigration from