Columbus Democrat. [volume] (Columbus, Miss.) 18??-18??, 1839-11-23

-, powSrlrl OF SFEcUL,T'OS.-~IhanA
- The ieTgeCg ejaculation ot thousands,
l,~. NJ speculation ara over However
e'.' ..,.se the fel.ciiauoa, the fact assumed
81. -...r in4s1u,lble. We appear, Tor the
s-l.' has bdIen aieu TO the imPu,-es, the
.,8 ne prospects Of the years immediate
--7e'' -, 1887. We have entered upon
FP', Win a contracted aud diminishing
So 20 here i an inevitable tendency to &c
'A'1' I.cl,ne OF prices. Now speculation
1,'l - define as the buying Of an article, not
s.4Sa el,,e business use, but " tn the hope Of
. o., I, again at prOf,--can only flourish with
H''..s I'D no or equabls currency, and such
q ~ ,,orress in production, commerce, &c.
s'.,,rr,g, the expectation that the property
.h, lo.day at reasonable price, may be sold
''-s., c,T a. much, and probably for some
e. more. THIS expectation u not warranted
~ he currency is in process OF ceniraruon,
W. .h,,b M limit can safely be assigned In such
".,o0 nrooerty has lIttle value unless lmmedi-
aS,,ll--,d,c,ye. and labor meets wiih a more
nsP 3 demand. Produce, too, and goods Of
mn ;" I,n5, will generally be lower, and at any rate
~ I'M 10, uniformly meet ~Rh 50 ready sale.
~ :. the case a, present. With the heaviest
,,l,n,,l arodaci ever secured m one season,
1.,,,,y rsahaes family that feeling of relief
'' r,aj,nce wh,ch should arse from IT. Ons
anu ~ ,e,soo for this is based on the fact that, the
.a,s. ,,.re medium is inadequate to the wants Of
L...,,,,gy We have a heavy Wheat crop, and
a., ,,,s,e.t, Of all classes urgently demand tina,
n. surplus Of the producing districts should be
i ~ Il OF hafn ho
',,o hand. Of winter are upon us. Yet the grain
ZANE, forward very slowly--hr too slowly-for
van, OF money whercwlth TO purchase It. The
Ranks are compelled to curlal by the exlgencles
# the times, and cannot loan to mllers and olkel
b,yers; tho price is low and the demand dull, SC
he farmer lets his grain he IN the sneai. Muct
has been said of The Instability and unsaleness o
Banks, the mass of producers would rather have
Bank notes than any other notes in payment (or
,lsr crop. These are not forthcoming, exeep
olnadeuuate prices, and they hold back. Thi,
an error il would be better, in our judgment
those Who owed would pay debts with thei
her crop nj current prices, and those who do no
would take the best pay offered, and push the
crops to matket-belter, we mean, for them
snce there is no doubt that it would MATERIAL,
aid business and strengthen confidence on ever
side The price is not at all likely to be bette
next spring than now. But men are slow to a
dopt an indifferent method of accomplishing a ne
cessarv end, having been accustomed to a far bet
ter one; or to accept low prices for heir handI
work or It's product, having been accustomed t
LIBERAL ones. But if to this complexion we mus
cone. it is idle md childish to procrasinate.
is manifestly absurd 10 expect now, the prices c
former years.
But, the spectators arc down. The fac
you'd seem nndoubled Speculation, whether i
lands, cities cotton, wheat, pork, wool, or an
thing else, is pretty decidedly used up; aud ma
nv who lately rode in their carriages and boasic
al their millions, ROW walk IN sullen despordel
cy, or look through grated windows. Gloriou
c,n,nmmationn exclalm thousands. The exu
uiou nav pass but Is not the triumph burre
onel l. the labarer better paid and fed, an
more cel,anl Is employment more abunda
and more amply rewarded : Do the4umer, ii
mechanlc, the artist, reap richer reward for the
tolsl Does the young man find the avenues
usefulness and competence more widely open
himl Does the embarrassed man dispose Of /
property more advantageouslyl Does the esta
Of the deceased man of business afford bet
support to the widow and the orphan
There are many questions like these TO be pr
lered. Let US study them coolIy. Speculate
IS dead for the time being; and something
good a. well as evil has persisted with it, '
rejoice however, at knowing that more Of the go
.toccasoned has not persisted. We have lhr
thousand miles of Railroads, probably two the
sand of Canals, and thousands Of miles Of roa,
called into beng by the spirit of Speculate
the parent may die, but the offspring will live
enghten and bless. We have hundreds Of thc
sands Of acres changed from bowling wildenc
TO beanteoas and bounttul tillage by this sal
spirit, which may die but cannot be said to lea
no sign We have many substantial cities a
Vlllages-a little too rapid in their growth, p
haps, bu, now gaining solldIty and strength in
crucible Of adversely, and likely 10 pass the
dea IN safety. Still more we have some h.
dreds Tor thousands) of embryo cities, which ,
not be built yet. but which are captaly laid
Tor future operation. A great fault has hIthe
been, that We have built our cities before we
laid them out; and the amount of aflerw
which this oversight rendered necessary was Y
great. More money is often expended TO strai
len single street. than would have been req
Cd to lay out the whole city properly at the
ginning. Grant, then, that we have laid out
les and villages for fifty years ahead the mis-
caaton IS on the right side. Al the work n
cone will save ten, twenty, perhaps fifty times
much to the next generation.
Let us not, therefore, ueat with savage ind
he corpse of poor, delunct speculation,
nls faults cannot be buried with him, but must
olazoned from the house-tops, 1t is but fair
nis virtues should bear them company.
.Ve,c- Yorker