Year: 1873

Prosperous - Industry and


Commerce Increasing.


The darkest day of the war was
that which preceded Gettysburg and
Vicksburg. Yet the end of the war,
its ultimate success, the triumph
of the nation, the establishment oi
human freedom, and the growth,
prosperity, and glory of the country,
were events as certain as any of those
which God has established by the laws
ofnature. Why were they certain? Be
cause behind them, and making them
certain, were the exhaustless resour-
ces of the country, the indomitable
energies of free people, the faith of
a Christian nation, the mighty force
of republican government, guided by
educated intellect.


SO now, when the financial crisis,
which is apparently so disastrous,
and disheartens so many, is upon us
the end is near, and the result will
be greater prosperity and wealth.
Why? For the same reason as in
the war. There is pressing forward
to the rescue the mighty resources
OF the greatest country upon earth;
the skill and industry of a people who
never fail; and that divine providence
which has given US success in peace,
and victory in war. In fact, SO little
is this present financial affair compar-
ed with the great struggle through
which this country has passed, or
with the resources to meet it, that
we are almost ashamed to mention
them together. Yet, there is in one
department of life great couvulsion,
and there are men who are passing
through great struggles, and there
are families who will feel sadness and
want for this cause. On their &C
count we will endeavor to point out
the causes which lead will to a speedy
and successful return to financial
prosperity, and, as we believe, to a
greater industrial and commercial
progress than the country has ever
had In the war there was for time
most wretched generaiship, and for
the last year or two we have had
most miserable fnanciering; and in
both cases for the same reason-the
want of correct knowledge of the re
sources of the country, and the modes
of action. Everybody can 'eOao see
what has caused this financial crisis
that it was, first, the n1aIadnainistrG-
ton of the banks, and, secondly, the
the aoa'at of elasticity IN the cetrre',-
ce. The first ministered to the
gambling of the stock brokers, and
the spectators, without seemingly
knowing or caring about consequent
ces, and the last was caused by the
want of foresight in Congress. But
neither are now important, for the
lesson of experience has been too
severe to go unheeded for many
years to come. Let us rather attend
to the causes of a better and brighter
day. We must turn to figures, dry
rs they are, for there is no source of
accurate information upon the state
of the country but statistics.


1. The EAaR1cULTURAL DEVELOPMENT,
AND CONSEQUENT EXPORTS. have
not the statistical returns for this
years crops, but we have information
from every quarter which sustains
the general proportion-that is, the
aggregate. The crops are remarka-
bly, good, while the contrary is the
fact in Europe England is short,
France is short, and Germany is
short, and Italy-is in danger ofstar
vation. There may be more or less
axaggeration in the accounts, but it
is certain that every bushel of grain
and every pound of meat we can'spare
viii be needed in Europe at fair
prices.


In the mean time, let us turn to
prosperous Thus, the negro has
indicated himself in the only way
possible to one whom the prejudices
Of the people, and the malice of poll
ticians, continually maign. The
effect upon the country is most favor
lble The cotton and sugar crops
although sold at something lower
orices-will produce ready money,
md this must, in regard to cotton, be
three fourths paid in Europe. That
would, it is true, produce no great
effect, if we continued our enormous
importations, but we do not. Impor-
tations in the last month have fallen
off fully one third, and they will not
be renewed for many months to come.
This brings US to our exports, which
is the broad sheet anchor of safety
when the balance of trade is against
us.


2. The EXPORT TRADE AND ITS Eff
FEcTs. Ihave never had the least
faith in the increase of foreign com
merce as a source of strength OF
prosperity, but unquestionably if we
can get ready money for exports, al
time when we greatly need it, thai
will be beneficial. If any man expects
ever to have specie payments, he car
only hope for it by equalization o.
exchange. AS well might he expect
to keep his crib full of corn, when i
is continually fed out, as to keep golc
for payments when every ship carries
it to Europe. That is not the cast
now, and will not be for a few
months. That it is not, thanks tx
the tariff and our own great crops
NOT To any financial rI115ance or +,