The New NationPaxson, Frederic L. (Frederic Logan)
History
The New Nation
Paxson, Frederic L. (Frederic Logan)
United States -- History -- 1865-1921
Much of the capital that was used in Southern agriculture came from the
North through the manufacturers and wholesalers who supplied the retail
merchants of the South. These merchants advanced credit to their
customers, measuring it by the estimated value of the next crop. Once
the bargain had been struck, the farmer bought all his supplies from his
banker-merchant, paying such prices as the latter saw fit to charge.
There could be little competition among merchants under this system,
since the burden of his debt kept the planter from seeking the cheapest
market. The double weight of extortionate prices and heavy interest
impressed a large section of the South with the scarcity of cash and the
evils of existing finance.
In agricultural method as well as in finance the South was oppressed by
its system. The merchant wanted cotton, for cotton was marketable, and
could not be consumed by a tricky debtor. Single cropping was thus
unduly encouraged; diversified agriculture and rotation of crops made
little progress. The use of commercial fertilizers was greatly
stimulated, but agriculture as a whole could not advance.
Tied fast to a system nearly as inflexible as that of the ante-bellum
plantation, the South suffered disproportionately in years when cotton
was low. Depression in the later eighties and the early nineties
intensified the suffering of the debtor class and produced an inflation
movement that allied the South and West in the demand for cheaper money
and more of it. The Farmers' Alliance, with its demands for railroad
control, trust regulation, banking reform, and free silver, was the
logical vehicle for the expression of Southern discontent.
The white population of the South, undivided since the Civil War, was
confronted in 1890 by an issue that bore no relation to race and that
divided society into debtor and creditor classes. For twenty years, by
common agreement in which the North had tacitly concurred, the negro had
been suppressed outside the law. Occasional negroes had got into office
and even to Congress in reconstruction days. One, who described himself
as "a bright mulatto," sat in the Fifty-first and Fifty-second
Congresses, but in most regions of the South the negro had not been
allowed to vote or had been "counted out" at the polls, while only in
sporadic cases, mostly in the mountain sections, was the Republican
party able to get enough votes to elect its candidates.
The Farmers' Alliance split the white vote and gave to the negro an
unusual power. From being suppressed by all to being courted by many
involved a change that raised his hopes only to destroy them. The South
no sooner saw the possibility that the negro vote might hold a balance
of power between two equal white factions than it took steps to remove
itself from temptation and to disfranchise the undesired class.
Public-domain text, read in full here on John Shaqi.
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