Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1819-11-05
Franklin county, 18Th Oct. 1871

70 THE EDITOR or. THE EN0UIRER.
SIR. ..1he'complaiui of hard times is
not confined TO the towns in the United
States, but is heard every where in the
country. Te come at The cure, we must
ascertain the origin Of The disease. and
avoid lie course which brought il on.
Now the causes, that have led to these
diihculiies, IT known, are not generally
admitted. 10 me nothing is more clear,
than That all our difficulties have their
origin, IN The uneXampled eXiravagancies
oil lie people extravagancies, which
grew out OF the wealth suddenly thrown
on us during the late bloody war with
Europe, ANA which have been fatally, and
IN some instances, most wicked!y indulg-
Ell I'm by too many, after The means of
dong so without ruin 10 themselves, and
Others. were Withdrawn. But for the
Carrying trade which we enjoyed full 10
years without interruption, and events
during that period that opened ready
and uninterrupted market for all our sur
plus produce, the SO6riety of manners for
winch our fathers we're so celebrated,
might still have prevailed, and government
saved the perplexities they must noa en-
counter for years: the gaudy equipages
"hich every whore met the eve, exciting
the envy Of some, the emulation of
others. and the contempt Of the wise ::
aud the emigralions Of the most en-
trrprlzing part of our citizens. Ia the
western country, emigraiions which If
continued, will sink us numericalIu az
we'll as intellectually to a secondary rank
among the states, owe their origin to the
same TELL source. Yes, the prodigal ha-
bits OF the people have nmrsed The East
India trade, ill il annually absorbs Sc
ven millions of dollars. And | mention
II with regret, that as many more millions
arc spent every year abroad by impOrta-
tons OF wi"e> and ardent spirits. have
beard II estimated, and believe il true,
That SINCE The war, balance has been
growing against us IN favor of Great
Britain, till II now amounts 10 little short
Of two hundred millions Of dollars; not
wIihsiandlng our exports of foreign and
domestic articles, have in time OF peace.
seldom fallen below sixty, and in 1917
mounted az high as S 81. SOL, 566.
Let no one he surprised at these state
menis. Tie year after the late war, our
imports amounted TO one hundred and
nifty millions. Congress was admonlshed
OF The consequences, but they neverthe
less sui red the death blow 10 be gwen
To- our manufactures, and TO national
frng"lIty. Wiat followed has been pre-
dlcttd. Our great manufactures have
been ruined, homeSpun cloths have
become nnIaslIionablr, and the sacred
obligation OF promise (more especially
10 paH money! has been lessened in the
eyes OF our youth, aud ifthe affairs OF re-.
| lIglOn have not been overturned, II is be.
cause religion is proof against immortality,
and although it may be Gbscured," il
csnsot be Obi'crated.
The banks may have done some mis-
| cblei III furnishing money ior the East
| India trade ; bat even the banks owe
| their origin TO the extravagant habits OF
ihe people. As events in Europe made
~ rich, we became more greedy OF riches
more dissIpated and more exiravaBi /;
| and those who could not grasp the sub
slaHce, confented themselves with the
shadow. In this spirit lire banks were
| created, and tie new order Of things went
| OF iusOmucl that a rivaIsbip existed who
| should tread on the finest carpet or rcpose
under The grandesl canopy. The plain
man became Questionable. The lust
dominion Of intellect and good morals
was TOO often overlooked, and wealth the
attendant on birth, The result of accident,
sometimes the evidence Of. depraviiy, be-
cause The acquisition not OF honest indus
trs ,bu' uDlu,iiiiable speculation, was moi
| uHirequeplly the standard Of private and
| political worth. II is this spirit OF extra.
vaganee HAL has caused silver dollars 20
| disappear that oblIges The banks 20
| curtall, and TO continue 10 Guriail. II
absorbed all The paper the banks issu d
as far rs they were allowed 10 emit il
and hsd ihe panSs beeu permitted to is,