  A one-dimensional quantum N-body system of either fermions or bosons with
$SU(n)$ colors interacting via inverse-square exchange is presented in this
article. A class of eigenstates of both the continuum and lattice version of
the model Hamiltonians is constructed in terms of the Jastrow-product type wave
function. The class of states we construct in this paper corresponds to the
ground state and the low energy excitations of the model that can be described
by the effective harmonic fluid Hamiltonian. By expanding the energy about the
ground state we find the harmonic fluid parameters (i.e. the charge, spin
velocities, etc.), explicitly. The correlation exponent and the compressibility
of are also found. As expected the general harmonic relation(i.e.
$v_S=(v_Nv_J)^{1/2}$) is satisfied among the charge and spin velocities.
