The Rhode-Island Republican. [volume] (Newport, R.I.) 1809-1841, 1840-05-20
Established A. ID. 1900.
The Weather Breeders of Traffic.
Br WAshiNGroy LAYING.

|, in the course Of a voyage from England. ]
once Tell in with a CONVOY Of some merchant
ships. bound for the Wes, Indies. The weather
was uncommonly bland aad the ships We'd
WIN each other in spreading sail TO catch a
hsht' iavoring breeze, until their huiis were
a'msst hidden beneath cloud Of CANVASS
hS hreeze went down with the sun, and his
last yellow rays shone upon a thousand sails.
IDLY Tapping against the masls.
iekulied in the beauty Of the scene. and
augured PROSPEROUS voyage but the veteran
master OF the ship shook his head. and pro.
nonnced this halcyon calm weather breeder
Aud 50 il proved. A storm burst forth in The
n'ght' the sea roared and ragged and when
the day broke, behed the late callan, CONVOY
scattered IN every direction; some dismas,ed.
o'hers 'euddine under bare poles. and many
hilng signals of distress.
have since been occasionally reminded Of
'his scene, by those calm. sunny seasons in
The commercial world, which are known bv ,ho
name OF " times of unexsmped prosperily."-
They are the sure weather breeders oe ,r,s,.
every no" and then the world is visited by one Of
these delnsive seasons when 1.-The cr.di, avs.
ten''' as Il is called. expands to full luxuriouc@:
every body trusts every body bad debt is a
'h'hg unheard Of; the broad way to certain and
sudden wealth lies plain and open and men
are tempted to dash forward boldly, from the
facility OF borrowing.
Pfom'ssory notes, interchanged between
Schem'ng individuals. are literally discounted
at The banks. which become SO MANY mint, =,
coin words into cash; and as the snpply of
words is inexhansible il may readily be sun.
posed what vast amount Of promissory capi-
tai is soon in circulation. Every one now
talks in thousands; n",hng is heard Of bu,
gigantic operations in trade; great purchases
and sales Of real property. and immense sums
made at every transfer. All. to be sure. as We,
exists IN promise; hut the believers in promises
Gale the aggregate as solid capi,aI and
tall back IN amazement at the amount Of public
wealth, the unexsmpled state of public pros.
perity."
Now is the time for speculative and dream.
ing or designing men. They relate their dreams
aud projects to the ignorapr and crsdulous, dag
xle them sitb golden visions. and set them
madding after shadows The example Of one
stimulates another; speculation rises on spec
nlation; bubble rises on bubble every ono
helps with his breath TO swell the windy super-
structure and adnires and wonders al the mag.
ni'ude Of the initiation no has contributed 10
produce.
Speculation 10 the romance Of trade, and
casts CoDtcmDt IDon al lie sohex x..l;,;aa
II renders the stock -jobbsr magician, and the
exchange region of enchantment. IL eIevates
inc merchant into a kind Of knight errant, or
f"'her commercial Quixoto. The slow bu,
sure gains OF snug per centase become dcspi-
'aD'o Is MS eyes: 40 "operation" Is thought
worthy oil attention. that does no, double or
treble the investment. No business is worth
following. that does not promise an immediate
fortune AS he sits n,using over his ledger.
with pen behind his ear, he is like La Man.
chas hero in his study. dreaming over his
books OF chivslry. His dusty counting house
fades before his eyes, or changes into a Span.
sh mine; lie gropes after diamonds, or dives
after pearls. The subIersnsan garden Of
Aladdin j, no,hing 10 the realms Of wealth that
break upon the Imagination.
Could this deluson always last the life Of a
merchant would indeed be golden dream:
but it is as shon as il is brilliant. Let but a
ioubt enter, and tho "season of unexampled
Drosperiry"is at m cnd. The coinage Of words
8 suddenly tutaed the proinissory capital
,.Rns 10 vanish into smoke; a panic succeeds.
md the whole supers'ructure. built upon credit.
md re,red by speculation, erumbles to tho
,round, leaving scarce wreck behind
II is such stuff as dreams are made or"
When man Of business. therefore hears ou
very side rumors Of fortunes suddenly aequir-
d when he sees adventures flush OF raper
spltal. and full Of scheme and enterprise; when
e perceves greater disposition to buy than
ell: when trade ove,fows it's accustomed ehau.
els. aud delnges the country; when be hears
{ new regions Of commercial adventure Of
is,ant nar,s and distant mines. swallowing mer-
handise and disgorciDg gold; when he finds
'int stock companies of all kinds forming; rail.
Dads, canals, aud locomotive engines, spring
~ up on every side; when idlers suddenly be-
ouies men Of business. aud dash into the gams
{ commerce as they would into the hazards Of
he faro table when he heholds the streets elii.
irng with new equpages. palaces conjured up
y the magic OF speculation; tradesmeu flush.
with sudden success. and vying with each
thsr in osteuts,ious expense; in a word. when
e hears the whole community joining in the
lemc Of "unexamped prosperity" let him
sk upon the whole as a .weather.breeder."
I'D prepare for the impending stern.
The forgoing remarks are intended merely
) prelude TO a narrative am about 10 lay
.fore the public. of ons Of the most msmors-
10 instances of the iulatuation OF gain. to be