Martinsburg gazette. [volume] (Martinsburg, Va. [W. Va.]) 1833-1855, 1837-04-26

WIG PRoPHEcIEs FrLTIkLxD.--it were use
less for us TO attempt 10 give our readers a full
account Of the trouble. enbarrassment, and pres
sure in the money market, and the numerous
failures that are daily occurring among the bust
ness men Of the country. From New Orleans,
from Charleston, Richmond, Baltimore, Phila-
deIphia, New York, Providence Boston-s and,
in fact, from every city or town OF any note in
the Union, the same doleful tidings are sent
forth. The pressure instead of growing lighter,
is, il any thing, more seysge than ever When
il will be removed from the country, whose bu-
sness and prosperity il is now destroying, 10
more than at present can be foreseen but from
the " lights now before f" the public. there is
every probability that 1t will continue until eve.
rx species of business has been withered and
blasted by its influence. The planter. the man
ufac,urer, and the merchant must yet feel its
sca,hinr influence upon their prosperity-it must
we fear, plague and torment the people, until
they arouse themselves, and demand. aye, de-
mord, of their rulers an abandonment Of the po-
lev which has brought the country to its present
depIorsble condition.
The pressure has already taken hold oil the
great staple of the South, Cotton, and the high
hopes which the growers Of that article had en-
tertaiued, are in a moment destroyed. Cotton,
which five months ago. in the city OF New York,
was selling for nineteen GEMS, is now in market
for nine and q half, with scarcely buyer a,
that price. In New Orleans, the price is down
to six and seven cents, and none 10 buy or send
it abroad to foreign countries. The cotton re.
mains in the store houses, because those who
heretofore have operated IN that article. though
they be the wealthiest merchants in the cities,
and are the possessors Of millions Of dollars
worth Of property, cannot obtain the means OF
continuing their business, without paying the
pound Of flesh to the extortoners. As il 10 with
cotton, SO it is with other staple products, with
manufactures and merchandise.
All these evls-all the distress and all the
panic, that the country is now experiencing. 10
no inore than prudent men fosesaw would come
TO pass, when the determination to overstep the
bounds Of law. take the deposites from the
Bank the United States. and distribute them
present state of the currency the stagnation Of
business that DOW sits like an incubus upon the
enterprise Of the country-and the ruin that il
spre aiding far and wide among all classes Of citi
zens. was seen and foretold, when the policy
which has been pursued by the administration
was first entered upon. Those who then warn
ed the country Of its approaching distress, and
admonished the people TO prepare for the coming
storm, were, by the ad ninistration presses, de-
nounced as incendiaries, as traitors, who only
sough, to prejudice public feeling against the
President, in order TO embarrass and perplex his
administration. How has the matter termiua-
ted, or rather from the prospect at present held
up to view, how will it terminate? Who were
the false, or who the true prophets? Mr.. Web
ster. in the session Of 1894, said, when intro
ducing bill for the temporary re- charter Of the
Bank, We slay that monster. the bank, that
We may defeat the unjust purposes Of the rich,
and elevate and protect the poor And what is
the effect Of all this. What happens 10 the
poor and all the middling classes, in conse-
quence Of this warfare? They are all at the
feet of large capitalists. They are in the jaws
ofusury - Three years have but little more
than gone by, and the fulfilment of the prophecy
is written in burning characters throughout the
whole country.