Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1837-06-15

Extract from w Niews OI Duty auaPteu
to the Times" A Sermon preached AT
Portsmouth, n. II. May l4th, 1881
by Andrew p. Peabody.
Aud, first, | would have you coDhde
in the productive industry OF free and
energetic people. Value is the creation
Of labor The broad ses M national
wealth derives its fulness and increase
from the rills of individual indust ry; and,
however hard the pressure, however sud
the aspect OF peculiar times may be, an
indust rious nation is all the while grow
ing richer. A vast amount "t value -
annually created by our mechanics,
. manufacturers, and ag'iculnrists. ana Is
still in the process Ofcrention by m,lli"ns,
who iill their own ground and work with
their own tools, aud whom oveiturns IN
the greut world cannot therefore throw
out Of employment The number of
these sure contributors to the general
stock is rapidly increasing, both by the
natural growth of our population, and by
the progress Of those great moral reforms,
that are replacing idle and worthless by
diligeM and thrifty citizens. The pro"
pery thurs created, even at deprec,ai"d
prices, must shortly by lis very quantity
restore the delicit in nominal value which
the reduction of prices has cauSrd.-
Credit, in order to he sound, must be
based on property. The excessive Gre
dit of recent times has indeed shot up
without n sufficiently solid basis, like the
islands that have suddenly sprung into
being III mid ocean; but our rber, quiet
farmers and artisans are constructing, us
fast as thew can, II foundation for the
lettering fabric, just as the coral insects
beneath the wave are laying deep aud
firm the sunless bases of those same new
born islands. Thus, while dIs,rus, is de-
molishing the flimsy outw"'ks, the sky
embracing towers and pillarless porches
of the huge rdltice, industry is hewng
aud placing lis corner stone, and prop
ping its walls with piles OF SOLID masonry.
or The increasing national wealth, every
operative member u: the body polite
unjust receive his share, ,and realize pro-
portionaie advantage. 1t is not there
fore without Just expectation oi Increased
ability, that the honest and worthy debt
or is consli aimed t" say, Have patience
with me, aud ! will pay thee all.
Again. would bid you contidc III each
others rectiiude and honor. Men IN
general are not knaves Most men are
honest, ,--sone from policy, more from
right naturnl impulses, many from an IN
ward pribcipIe TOO firm for s,orn,s Of for
tune 10 shake. The proporion OF really
untru,tworthy members Of the conmunl-
ty il very small. And now, with the
vast majority Of those, who throughout
our land are crying, Have patience
with me, and will pay thee ALL the
promise il az sincere as the pe,it'on.-.
Nor is lhe promise merely sincere, but
earnest, whole he a,ted, cnergeiic.---
Those who make it, mean to pay, and to
pay all. This they cannot do, IT seized
by the throat, and arrested in labor or in
enterprize. But, if the opportunity be
left them, If they be lorborne with and
indulgcd, the will TO pay will create the
ability, and the merrilul creditor will re-
ceive the uttermost iarihing.
In our own little community, let each
confde in the good faith and fair pr"m-
ses Of every fellow citizen, who has in
time pas, proved hm-.G u man Of his
word; and all may he safe we may be
spared the dread commissions, which
have sha.en ihe larger cmporlnns OF
commerce. But let any one violate thus
confidence IN those who deserve IT, and.
no matter how firm his mountain now
stands, he will soon rue the hour, when
he put his hand on his brothers. throat;
for an equally merciless hand will sasten
upon his own. We all are creditors; we
all are debtors. Let us trust, and for
bear. Let us present an unbroken pha-
hnx against the pressure oi The times;
and the confidence, which we repose in
each others integrity, we shall ere long
look back upon with gratitude as the
raft, ON which we rode out the gale,
which foundered many a gallant ship.
May not add The exhortation to con-
fdence particularly and emphaticnlly IN
the honor of the mercantile community:
Ii is they who have TO bear the brnnt of
every storm. II is upon them, that the
pressure first falls, and only through
them, upon the public at large. And Of
ten would they bear it alone, and throw
of the burGen without its being felt by
others, If their brethren would only have
faith in their well tried rectitude and n
bility, and would listen to their demand, ,
Have patience with us, and we will pay
all The mereaatiie profes ion deserves
well of humanity. The name of mer-
chant is an hoDorable name. The mer-
chants general standard Of probity and
generosity is n high one. There are ip-
deed exceptions to this remark; but ex-