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tat o YOLXXII. MO. 22. RALEIGH, N. C. TUESDAY. MAY 31, 1892. PRICE $1.2'. PER YE.VB. in J l ll The Credit of the South. The address recently delivered be- ore the Commercial Club, Nashville, renn., by Mr. J. X. Williams, Rich nond, Va., on The Credit of the South, contains some very interesting itatistics showing the remarkable pro gress of this section of the Union. A ull summary of the address appears n the Richmond Dispatch of the 25th, and owing to the importance of the ilibject we present some of the salient points from that journal: "Mr. Williams began with a eulogy pt the Old South and its civilization, which had given the country many of Jits greatest men, under the domination pf which our government had been jformed and our people had'risen to strength, prosperity, and power. The jbasis of that civilization, he said, was jthe basis of all credit, character, and jhigh and jealous regard for personal honor, This had been illustrated by khe care with which the southern states had protected the interests of Jjaeir creditors. He gave the figures of the debts of these States at the be ginning of the war and showed that Jthe first effort of their people amid all jthe rum and dangers following had been to maintain their credit by just settlements. He rapidly sketched the means by which the debts were so enormously swollen during the recon struction period and urged that the ad justments made were far more gener ous than were to have been expected, especially as the people had the power of repudiation and a somewhat decent excuse for it." Referring to the credit of Southern feities and the rapid decline in the rate f interest they pay, Mr. Williams said: "Cities which a few years ago bor rowed at 10 per cent, now find eager buyers for their 58 at par. No south- lorn cities had ever resorted to the wholesale repudiation of obligations such as had been made by western cities after the panic of 1857. He had keen a list of the- defaulted securities of sixteen cities, counties and townships in the statft xrrerty per ckpR&o? tKIrTy crease of 200 per cent in national banks in the South against an increase of 7 per cent, in the New England States, and the capital of our State banks and trust companies has doubled in the decade." And in agriculture the figures tell how industrious Southern farmers have been in the face of the laws passed by the republican party, discriminating against them in favor of Northern protection ists, who have grown rich while their industry has gone without its proper ! reward. "The census of 1890 shows tht the increase of population in the South was practically all in the cities and towns. The same number of people who, in 1880 grew 5,400,000 bales of cotton and 250,000,000 bushels of corn, in 1891 made nearly 9,000,000 bales of cotton and 500,000,000 bush els of corn, besides receiving tens of millions of dollars for truck and fruits, which made but a small item in 1880 Another interesting fact is that the average price of corn in the South in 1891 was 57 cents against 37 in the West, while wheat here averaged 99 cents against 82, oats 50 cents against 28, and potatoes 70 cents against 30." 9 Mr. Williams thought that one of the needs of the South was immigra tion of the better class. "The intelligent farmers from over crowded Europe, he said, will find here a soil that will quickly and bounteously respond to their intelli gent care and an atmosphere which knows no extremes of heat or cold. Mr. Williams showed that the ad vance which the South has made has been accomplished almost entirely by ner wnue people, ana although so heavily handicapped by, 7,000,000 negroes the relative increase of Wealth since 1880 in the South has been far greater than in the North and West. The average percentage of increase of per capita wealth made in 1880 to 1890 was 100 per cem.more than in the New England States or in the Central West." Railroad Ownership, Beferring to this subject in his re cent speech at Asheville, ex-Judge James H. Merrimon estimated that it would require an outlay of $20,000, 000,000 by ths government to pur chase the railroads. This sum is larger than all the silver dug out of the earth within 500 years, which is estimated at $14,000,000,000. In 1890 tb$ :i A , f i.i a. j t. -''da ittiuuaus ui me cuuuiry owneu u v t Inn a x x-v B-w-h nl . 1 A I luiico ui wuipicicu ruau iracit, vth:rh vet Be Vigilant. The advocates of the St. Louis plat form, hating failed to have it en dorsed by the late convention, will now go to Omaha, and soon we will have the St. Louis Omaha combina tion in North Carolina for the purpose of dividing the democratic electoral vote of the State. This combination is destined to fail as did the efforts of the schemers and plotters who in habited the purlieus of our convention, from the operation of the stiuds threunt they 8aw defeat in the force of receipts- amounting to $l.y is in th'i the honest and manly sentiment that Says the Elkin Courier: h" I dominated it. Notwithstanding the care "Take this and put it beside ac tual valuation of property in all North Carolina and you will see what is the poverty of this State and its people. Take these mere earnings of the rail roads for a year and consider "the ac tual banking capital in this St?e and you will see better how foolib. how impracticable it is to talk of buying all the railroads. The banking capital of this whole State is less than eight mil lion dollars." Such is the character of the pecuni ary burden the St. Louis platform and resolutions would place upon the already bended shoulders of the staggering in dustry of the country. Such is the platform upon which Col. Polk and hie third nartv followers stand. They expect the democrats of North Carolina to vote the third party ticket in order that such monstrous legisla tion may be enacted. They cry out against oppressive laws and high taxes while advocating doctrines that would hopelessly oppress every industry and bankrupt the whole country. Besides there are nearly 1,000,000 men en gaged in railroad work in this country. It is probable that many of these do the work of two men. Cer tainly if the government should buy the railroads it wojjid acturiusr tg m u -CTgxiry err ve principal southern cities in 1890 couraging, and prove that the Southern ad increased 25 per cent, over 1880, pe0ple are realizing the importance rmte tne maeDieaness per capita in , ... r maneonrnn ,u0 ff I a v a. m 1 4. 1 . A. n rease of over 12 per cent, per capita. ne7 ew- uas lonS ueen lue" UUB he average debt per capita ot these torn to grow tne cotton ana sena it to lties in loyu was against an .Northern lactones to be made into verage of $70 for New York, Boston, filoth for the Dr;viie2e of buvinar it Pittsburg Cincinnati, Jersey City, back &t & fifc tQ the.manfac I Ur-, rl x-v-n rtrrl Vf I A111J onH art otiur. L 1 lUVlUCUtC 11VJ. UK. iJUU'O, ciuu ei vi - i .... ase of $120 for Antwerp, Brussels, turer. rom jur. v imams ngures Liverpool, Manchester and Paris." the mistake and loss ia such a policy Speaking of the per capita mortgage has been seen : indebtedness in the South and West, "The increase in the number of Mr. Williams showed that it was $170 looms and spindles since 1880 has been mn tii:: jin more than 300 ner cent. And the in JVanSMB, iu uimuio vivi . . . -r aiu on DOUtn is now consuming ueany as in lowa, wmie in - - h mw cotton in her manufactures and m lennessee only Zd. Ana tne a8 wag consumed by the whole country information regarding the comparative in 1866. The development of cotton real estate mortgage indebtedness iu manufacturing in this country in the the South and West is equally as favor- future, Mr. Williams insistea, must in i o .1. ri the natural course of things take place able to the South. The census returns . . ,r, flnv1-n(T :n I III j k JV7U bUt A AAV VB- W m- m-m w. were quoted from to show the South's frejgut of three quarters of a cent per orosperitv: pound ot the raw cotton otten repre - - - . . r . i . i "This section has 43,000 miles of sentu the entire proht ot tne nortnern railroad against 20,009 in 1881, and mill. The numerous advantages poss- 1 J c ' 1 ' ,1 . V C-viii-1 4- V mmtlcman coir? the improvement in quality anu iacui- chscu uy iuc ui-u, h"111""" ties has been enormous IV fact, brought out by Mr. gJ,'M iamr ,iruaoyriyrtigjgta cotton -nst-T reas)?uip cat ixaA'irWf- Kmkxz -w rcTr Tlo e au- ixi tue oourrr thority to appoint more than 1 ,500,000 office holders how would it be possi ble to arrest the dangerous tendency of such a power? The party invested with it could easily perpetuate indefi nitely its term of office. Aside from the peenniary burden, which would prove intolerable and unheard of in all history, that the St. Louis convention would impose, the principles involved are dangerouarJrom every standpoint to our form of government, and if car ried into execution would destroy con stitutional liberty and erect upon the ruin a centralized government, de structive of the rights of the States, and with a virtual dictator at its head. The Omaha convention may go a step farther still. We await its action with some curiosity. exercised in selecting delegates for the j caucus of the 17th, it was soon acer tainedjthat even in that body th( re were men who had minds to do their own thinking. This fact alone carried tr ror with it, for when it was discovei i that the alliance could not be made an agent to destroy democratic unity, the leaders in the disreputable movement confessed failure. Some have had the good sense to renew their fealty to the democratic party, while others seek by their action to alienate still further the confidence of their former political as sociates. It is this latter class that the alliance and non-alliance democrats of North Carolina will have to watch. Believing that these third party ad vocates will not confine their at tacks wholly against the democratic electoral ticket, we caution those on the State ticket to watch well the movements of the political foes opposed to them. We use the word foes, be cause it is evident that republicans and third party men will combine, directly or indirectly, to defeat the nominees of the democratic conventions. And hence it is important for all democrats, not only to watch, but to act promptly in preparing. to secure the election of meit -v representing principles whose : ia- essential " t unsL ocrats confidence is A Comedy of Error. The National Economist says: "The St ite democratic convention of the Old North State was also held last week, and it seems that the capture of the democracy by the members of the alliance has been to some extent at least a failure, but the organization of the people's party was not a failure. The democratic delegates go to Chi cago uninstructed. It was expected they would go with ihe alliance de mands in their platform, and in the event they could not get the same into the national platform they would bolt and go to Omaha. This was what Alliancemen were expecting to hear, but nothing has appeared in the papers which will justify such an expectation any longer." Upon which it is only necessary to remark, that while there was no pur pose by the alliancemen in the late State convention to capture the democ racy, there was no failure; and while the organization of the third party is ostensibly accomplished, practically it was a failure. The democracy and the alliance harmonized throughout with the purpose to work together to the common end of defeating the re publicans; therefore, these made no failure. The third party worked to use the alliance as a cat's paw to de feat the democracy, and was therefore disappointed. Thus the Economist is wrong when it says the third party was not a failure. We care nothing for whom they send to Omaha. Their forces are as visionary as those of Fal staff. They fail in all the elements of party strength numbers, confidence, enthusiasm and the justice and ration ality of their cause. Henceforward the third party is a mere bag of wind, a brutum fulmen, a bodiless shadow. m in The "Force Bill." It is not to be disputed that if the ! republican party is successful in its present endeavor to regain control of of North Carolina, but there is bill to regulate lectiunrr, commaly too muctrat issue not to be vigilant, at all times: " Democratic Duty and Opportunity Is the title of an admirable and states man-like article in the June number of the Forum. We refer to it because The average proclaimed to the thinking mind where it brings in review, with admirable nlinp in nassenser rates on Southern will be the future centre ot cotton clearness and force, the plans and pur- mAa in ten vears ha3 been 31 per manufacturing industry of the world? DOseg Gf the republican party to make i vyt-v-. J I ... -i II cent, against 8 per cent, decline m the lhe development ot the cotton seed in- theip triumph of 1888 permanent North and per ceni. mine wesi. uuanjr uo w npPnAtiial The article is bv Hon. Freight rates had declined 50 per cent, product a value greater than the annual and perpetual, lhe article is Dy Hon. rregiit r. . . e n u miaa th Wm. F. Bavard. and he introduces it v. nnt ti Qnuin qt. z i npr r.em. in uuiuut ui an iuo stiv """ " i 111 iuc Kjxj - r - I . .." n . I . . .. c r tbp North, and 37 per cent, in the country. Another manuiacturing in- by a quotation irom tue mcesagc ui West. In 1880 Southern railroads dustry of great importance is that ot president Cleveland of December 5th, rried 7.300,000 passengers; in 1889 wool, lhe capital em pioyea in wooi ft . . . embraced one of they carried 35,500 000 They moved 8mCe AOOU tho8e pregnant sentences which stamp !J.UUV,VVVJ l U 11CS Ul iiClLl XIX ivvv, wv, r and 70,000,000 in 1889. Passenger No true Southern man can read transportation has increased 382 per fi without & feeling of pride cent, m tne ouuiu.agiuuBv iu fci . c cent, in the rest of the country. Freight and increased admiration of the won tnnaffe in the South had increased 244 derful recuperative power of our peo - C3 Free Coinage in the Senate. Says the Baltimore Sun of the 27th: The vote of 28 to 20, by which the free coinage bill was brought before the Senate yesterday, and the attitude of the majority of the Senate to the measure promises its passage. Its pas sage by the branch of Congress which is controlled by the republicans would hnvp nolitical conseauences. New r York State and the other Eastern States will doubtless take note of the sincerity of the party which is respon sible for the action of the Senate when it professes to be unalterably opposed to free coinage. ,The House, being democratic, prefers the tariff issue "One at a time" is its motto just now. After it has reformed the tariff satis factorily it will be time to tackle sil ver. It will be noted that Senator Hill yesterday avoided going on the rpp.nrd. and Senator Gorman was paired with an opponent of free coin Senator Gibson wasn't there.' per cent, against 87 per cent, in the Xsortn anu hcdi. In the growth of business the figures are truly eloquent: "The business concerns of the South had increased from 96,297, in 1878, to 170,759 in 1890. In 1878 this sec tion had one failure for every 68 es tablishments; in 1890, one for 79, while there was a reduction of 30 per cent, in the average liabilities. The reports of Bradstreet showed that Southern failures have been less seri ous than in other parts of the country. t 1891 assets in this section were 61 per cent, of liabilities against 51 for the rest of the country. Despite the fall in the price of cotton the failures and liabilities in the South in 1892 are less than in 1891, although the eastern and middle States show an increase. pie. Coming out of a war in which all was lost, save honor, the Southern people, following the example of the the distinguished man as a profound thinker, with unequalled felicity for terse expression. What conveys so well the idea of determined premedi tated tyrrany as this: "But the com munion of combined wealth and capi tal, the outgrowth of overweening cu nMit.ir nA selfishness:" how abruptly illustrious Lee, went immediately to J . , , , j the mask of magnificense is snatched fmm wealth! How dextrously and work with the result so forcibly told by Mr. Williams. And now if they will stand together in favor of just and equal laws it will be beyond the reach of human capacity to measure, even in imagination, their future wealth and renown. Congressman Cheatham The Washington Post refers in very high terms to Congressman Cheatham's effectually is communism stripped of its disguise and presented in its true colors! No longer the communism of the low, the wretched, the base, the turbulent, but the communism of the rich, the prosperous, combining to get more, to control all, and to retain all and that through the aid of Reed's au tocratic rule, the tariff laws, and the I f IMI 1 1 I V. nnr rfioent sneech in the House in favor of Iorce olil mwtburw. c appropriating $100,000 to collect sta- Uemplation of republican policy, and tistic showing the progress of the col- ereiore jusuiymg mC - Anrcr in th nastthirtv veas. sh sagacious patriots as Mr. Bayard An lmpotnl Fad to F :. The Montgomery A drvrtiter direct the attention of Southern farmer to what it call an additional dantr should another gTeat crop of coiton b prducvd. Imports Crura the ladinz grain states show that the thrt great cereal crop corn, wheat and oat, will be much ir$s this year than la,t. Should this proe true, and should the Southern farmer fail to growJJ ovi cereals, there will indrtnl be a ni impor tant fact to face. With foodituSfi J selling at a materially advutxvd pric. m , and the staple Southern crep conj... Jn Svw n th torn .nt , t n a .v ry . hU o at $wr TT Y V.J if- " aj;e. Democratic Conventions. Thursday democratic conventions were held in the States of Tennessee, South Dakota, Idaho and Kentucky. In Tennessee the convention was for Cleveland from the start, and its dele gates to Chicago were instructed to vote for him as a unit. In the South Dakota convention the resolutions ortntPl rnntain an endorsement of Cleveland's administration and express faith. The Idaho delegates are unin- structed. In Kentucky three of the four delegates at lare chosen are for Cleveland. T-i nmn no 1 11 l. D'll Congressman' "jumisou, ui niumim, is a close friend of the President and a leading republican in the House of Representatives. He made a speech on Wednesday and we clip from the Congressional Record the following col loquy : Mr. Patterson, of Tennessee: I wish to know whether you still adhere to the "Lodge bill?" Mr. Johnson, of Indiana: I indorse the "Lodge bill" personally, and would advocate and vote for such a measure if it were brought in here today. I am simply expressing my belief as to the opinion of the President and the Ke publican party. Mr. Patterson, of Tennessee. Would your party do the same thing? Mr. Johnson, cf Indiana. I believe my party would do the same thing; and if my party would not do that thing, I should feel ashamed of it; I should feel that it had abandoned the high position which it has heretofore occu pied in the eyes of the civilized world. Applause on the Republican side. The above should be very interest ing reading to those men, who have heretofore called themselves democrats but who are now, by means of a third party, endeavoring to deliver the State and the country to the foul embraces of the republican party. ually declining the condition of our people would be far more embarrain j than it now i. Hut the Souther farmer can provide against such a contingency by making the foodntut! neceary for his consumption. IU can grow on his farm the corn and wheat needed, and raise the meat he hat heretofore been buying from the West 'It would le a matter of inditferen to the Southern cotton producer wheat was worth f 2 and corn $1 a and meat 25 cents a pound V est if he raised enough of t cessities to meet his home dem cotton culd be regularly sold for &&0 planter to have his grain bin truf hor t. pens in tne est. liut, unfortunately the to pay and product at a price? below the cast In production.". . - W V;-f;n During tl yfear 1883-90 tie cottcb rn planters all over the South relived; Icient themselves ; almost entirely, of. debC man d for This appy:situat!on xfta the alt "'the turpon- Similar stances. . The Southern farmers r counties along a surplus corn! crop and a cottor, process of con just large enough to keep pn3 on account of to a living tigurc: C t westward are The truth is, ther h no farrre. Forty.three all the world so . fortunately . fity, generally due as the Southern farmer. He can stated, to low h - crwhigldSg-i,, the movement warr--Tr4" 4444.i- ; . - " rrtiw ot thelou0(rp, w:4twaril is ncted Additional to th'ajic Prodt'ntie.' pb nty when tne uay comes inatTav North will be made a purplus crop the ev " of the Southern planter will noOv !, r i i X. iounu anywnere. The world needs to meet its con- . sumption a cotton a I 000 bales from the Southern State, This is a normal figure. Anythin above this means lower prices. Anr 4. r V. 5 ind "In Abandoned. The Syracuse convention meets next Monday. It is reported there will be no contesting delegation sent to Chi cago. This will prevent much em barrassment. When the New York city primaries of the anti-Hill democ racy met last Wednesday it appeared, that instead of 76,439 names as claim ed by the committee as enrolled against the Senator, there were only 10,765, and this number is disputed by Senator Hill's friends. It is hoped that New York, after all, will appear at Chicago in good order. Division in Kansas A special from Kansas to the Wash ington Post pays: "That the Alliance in that State refuse to go into the third party. Mr. John F. Willet, State Alliance candidate for governor, and at present national lecturer for the alliance, published a letter in the AUiaiics Tribune in which he says that he has discovered on his return from the South an organized effort upon the part of the fusion fixers in the people's party to down him. He appeals to the Alliance men of the State to cast off the schemers who are now running the people's party. S. W. Coombs, a member of the State central committee of the people's party, published a letter in the Alliance Advocate charging that the maioritv of the committee had de- rf termined to force a fusion ticket upon the party, and that members of com mittees who are known to be against fusion are not notified of its meetings." thing below it means better prices U , jountrien cotton. In brief, the Southern plants 13 first in can decrease the cotton crop to a figure -.nt which will force not only a living price for it, but one in which there ii a profit, while reducing the total cot ton crop the acreage in wheat, cora and oats will be necessarily increased to give full werk to the hands em ployed, and, while making themselves leea dependent upon the AV est for pro visions, they will at the same time producing a normal crop of cottoa which can be sold for more cash money than can be obtained for a crop much greater than the annual consumption. This is well illustrated in the fact that the 4,700,000 bale crop of 187 brought the Southern planters $100,- 000,000 more than the 0;000,000 bale oflS'Jl. Think of it, a cotton crop. nearly sixten years ago, of one-half the size ot 1891. worth $100,000,000 more than to the Southern planters. The Southern planter has the situa. tion in his own hands. The question is, What will he do? Will he pay a tax of $200,000,000 to $300,000,000 for the privilege of buying his bread and meat in the West, or will he raise his own bread and meat and put the $200,000,000 or $300,000,000 in hit own pocket?" foil, rntion y- .1 Col. Sl'.ifirer, The Chronicle is unwilling to be lievethat this gentleman ha3 any intn tion of severing his connection with his democratic associates. If reports are true it appears that Col. Polk ii talking quite freely in Washington City, but it should be understood that every connection in which names are used may not be authorized. Col. Skinner wires us that "all will be right." Elsewhere will be found a denial by ex-Congressman Thomas G. Skinner that his brother, Col. Harry Skinner, intends to join the third party. "IIItor Kepeatw ItMflf," And so does Hood's Sarsapanlla in the remarkable cures it is continually ac complishing. If you will give this med icine a fair trial it will do you good. . Hood' Pills act ea3ily, yet efficiently. From looi to mere was an in evng sermon- t