The daily Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1841-1845, 1842-03-11

1t is difficult to say where and when the financial
embarrassments of the country will stop Gloom
settles upon all our commercial citations, and
but little prospect at present of brighter day The
evil affects all classes and conditions, and the poor
widow who depends upon her weekly earnings for
support is made to feel in her proportion equally
with the merchant the pinchng contractions OF the
times. To seek out the causes of these difficulties
would aid us but little in averting them. They have
been sprngmg up from variety of sources, and are
in measure born OF the very prosperity of which.
we have Of late years been much Boosting This
unnatural stimulus OF wealth, by magnfyng each
mans means, gave fictitious value to property
which, in times of soberness, has recoiled upon bot
buyer and seller with tremendous evils. The failure,
of so many banking institutions, the honesty of so
many of their officers the great embarrassments OF
the United States attending the falling oft of State Sc
curities, SC &C. have largely tended to this terrible
disarrangement in the affairs of the nation and the
general pressure upon the people. When it win
cease, is question difficult to answer than how
1t began, and we can only say in general that legs
late States and Congress may upon the subject the
gloomy condition of money affairs will not be changed
until individual corporate State, and national homes
ty become more manifest and encouraged and hon
or instead Of selfish interest, rule with all the peo-
pie.
The moral effects of these sudden contractons am
expansions in mercantile affairs of fearful ma
ture. universal feeling of disrust is engendcred
and man looks suspciously on his neighbor Mutual
confidence, which so binds together and harmon2c,
communities is destroyed, and each seems upon the
look out for the others downfall.
The tone of honesty in our country has also sadly
declined through the agency of these financial causes
The numerous absconding Of connected with
moneyed institutions the breaking up of those inst
tutons, and the comparative venality of the offence
of defacation which seems to obtain in both the high
and low places of the land, have done much to de-
stroy the wholesome morals and probty of the PEG
pie, and render migratory the barriers which Of old
virtue had thrown up as intrenchments around our
character.
But the increase of crime consequent on these en-,
barrassments is one of its most alarming effects
These are the stagnant times which spawn the do
stroyers OF peace and order These are the tim,.
which invite the spoler and the feon To prey tooo
society in which crime wears bold front and n
goating eye
NO man can carefully survey the condition of thing
around him, without feeling the truth of our remarks
They force themselves. upon at every turn, they
are verified by the occurrences of daily life, and We
cannot but see IN them good and no bodings OF
good, unless the people people determine to sup
port their credit and honor and by personal effort
and legislative enatments guard society from those
vibrations which keep like pendulum swinging be-
tween opposite extremes.
We truly hope we have seen the worst Of these
pressures that il is the nadr of our pectnary trou
bles as community, and that though the darkness
may yet hnger for little, will inscns 81, Nv.
place to a meridian day