Elizabeth-Town gazette. [volume] (Elizabeth-Town, N.J.) 1818-1821, 1819-12-21
From the Richmond Compiler.
THE HISTORY OF A YEAR.
was the beginning Of the year

soue co'bPttebce. was young, III health
and spirits, with wife dearly loved,
children the pride of my heart, friends
whom ! esteemed, and reputation which
had never been blown upon by the breath
of calumny. My business was good
my credit excellent. was industrious !;
and had spirit to submit 10 every priva-
ton with cbeeriulDess. Fortune smiled
upon me and if. industry and good
conscience gave any claims to her favor,
deserved it all. But in an evil hour the
tempter came and 10 how my fair pros
poets have been 10 few months blighted?
II was at this moment of prosperity that
the banks began to pat forth their greatest
influence. Money became almost as
abundant as the leaves OF the trees. You
had only to write name on the face or
back Of piece of paper, and you might
command almost any sum you wanted.
Then the banks gave you SO long time
TO repay it, that you almost thought it
was your own. There was so much of
1t, that men scarcely knew what TO do
with it. Some began TO indulge the most
capricious inclinations. Houses, iuroi-
ture, equipage, servants, dresses, wines,
became the objects of general ambition.
Who could live the most snmptuousIy
could support the genteeIest rooms; could
give the largest and gayest parties; could
make the greatest splash; became the
honorable matters OF competition with an
intelligent people. The same rage ex
tended to business as well as pleasures
Men dashed out into the widest specuia-
tions. There was scarcely any corner
in the whole field OF enterprise which was
not sought out. Bedlam itself seemed TO
have broke out. Every article of mer-
chandize rose TO All astonishing. pitch.
Dealers went on without discretion or
moderation. The first adventures were
successful. Their good fortune but tempt
ed others to embark in similar enerprizes.
The fever of speculation ragged worse and
worse. Men plunged headlong into the
most absurd adventures. And many, find
ing money so easily made by speculation,
became disguised with the sober iog-trot
paths of industry. They were almost
ashamed to be seen a; work. Economy
was characterised as meanness; and la.
bour was denominated piodding.
And what then became of poor Muley
Moley? His head was too weak not TO
turn round with the rest Of them. He
bought property he did not want, at prices
which half century will not produce.
But where was the difficulty? Where the
obstacles which requiring to be snrmount-
ed leads TO reflection and sober calcula-
tion ! There was none. Blessings upon
the facilities Of this boosted paper credit
Either the banks would lend you the
means; or means were easily coined by
giving your own piece Of paper at dis
tant credit.
My friend, too, or rather my friends,
who had specuIations of their own; they
who had not the industry OF the business
of Muly Moley called upon him for his as
sistance.-M Money was out of the question.
All that was wanting was to take my pen
in my hand, and write the letters Of my
name upon the back OF piece ofpaper!!
Here then was l, possessed of a business
which gave enough TO support me, if had
known how to be contented here was l,
launching my little bark into the wide sea
OF speculation, Drawing the angry pillows,
if any should arise. / mas we'll enough
off. l was getting as rich as ought to
have been. | was not ambitious of being
distinguished for my chairs or my horses.
| had a pride far above that. was able
to educate my children in the best man.
ner; nor was / anxious to leave them a
large fortune; because the sou of very
rich man is generally fool, a proud,
pampered, motiveless coxcomb.--I had
these rational ideas 10 the midst of all nv
delirinm; and yet idiot.like, I went on.
in the career Of wild speculation. At
sea, | was at the mercy OF the first angry
billow that assaulted me. But, it was not
one billow it was billow after billow. un-
Ill the whole ocean was dashed into vio-
lent tempest. A moment of unprecedept.
ed pressure and alarm came over the de-
luded country. The banks began to call
in their debts, andthe bubble burst. This
visionary fabric of paper credit melted in.
to air, like tie castles Of the clouds. The
stoutest hearts walled the roaring of the
storm. The firmest fortunes, as they had
been thought, began TO sink. 1t was like
one Of those tremendous hurricanes 10 the
West Indies, which swept almost every
thing, (every thing which had not stuck
its roots to the very centre Of the earth
before Its desolating fury.
Then what was | to do? / who had
waded out Of my depth, like Woolsey's
child in search of bubbles? could es-
cape The banks curtaiIed my paper
worked on, but paid them. Paper after