Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1842-03-28
Communications.
FOR rHE yiRGiSIAN.
TIE PRESENT CRISIS.

mind calculated 10 increase its tcver,shness have
thought that true exposition OF the which have
led 10 the present embarrassmen,s would TO aay
tire excitement sooihe the public mind and conf
dence. If this can be done-and think ii canwe shall
be able 10 struggle through our present difficulties, with
ont much sacrifice.
| am an humble individual. occupying station in
pr bile life calculated TO give my opinions weight with
tho who have the management OF affairs; but have
mirl led, to considerable extent among the inhabitants
OF 4 adjacent Counties and have been III some degree,
fam VT observer of the commercial operations. inter
csts Am, wants of citizens, have determined Ia
undertake what have much desired 10 see IRON much
ADLER pen.
In attenp. rag to pourtray the true causes which have
copsped TO err tc the present Crisis III our monetary con
Germs il is not my design take comprehensive view
of the state the wole country. intend To conflnc
myself 10 the cond III of things iheyexst in our own
State and especially wi hin the boundary oil that portion
Of which trades with l. nchnnrg' ana 'h'hh, limited
is the sphere which | hn assigned 10 myself VIII
be seen that much OF whatl 'a' say WI" Apply 10 o''e
portions OF the country Ii N not he necessary there
fore 10 my present purpose ha should 90 back to the
unholy against, and final d, soeuoh Oh "e =. p
Bank, the morrcious and ita' come sl'on between
the Government and the Banks whc,' pegot all he2a
mate spurious and sickly currency, ''' has s had
the vipor to duse itself throughout the Il myth X breadth
OF the and spreading conagion wherever II las ci'P,
without the ability 10 relieve the wants OF Inc people
Nor is 1t part OF my design 10 scourge. as 'l'y ue
serve, those rancorous party leaders who have bee. ees
men Of party ends while the best the vital interests o
this great country have been sacrificed While stano
ing upon the crnnbng verge OF that irghiiu preepee
to which The madness and tanailcism ct party spirit IN
our ,onal and Legislatures has forced u.s. and
viewing e'hdisnay the disastrous wreck which threat
ems our fame, and security IN the destruction and
sacrifice Of the H. LIST earnings OF lie OF patient indus
try we could feel in ur indignant breasts, desire 10
execratc and analtnatl, these wolves III Sleeps clio
thing uho in the deceptive guise OF the 'peopte $
,r..
length and breadth Of our once pro '' 'ous anu hapP9
land But IL is useless ior to pause Il 1'houce lae
miserable and designing actioniss who hav, Zen Tue
busy architects Of ruin: need not point back 10 me
best currency the globe desroyod,-l need not AT
tempt 10 portray the most conened thriving and happy
nation broad surface robbed of the fruits oil It's tolls
ant brought 10 bankruptcythe iaest fabric that Was
eyer "A N in honor Of fair freedom, despocd OF its pro
portions- proud republic, the admiration OF all ad-
mircrs bumhIeo ..Nddegraded the estimation oia hon
r,l men The sno, a,'a would lie too hlm ltng, TOO
painful to contemplate dlo Nv present pnrpse aio"
time to dwell upon it. In 'Se'. emergency w.
disderdtnm Is. how 10 escape spcedh, mn -; wv m
peril that threatens We should thci as '%es VI .'e
same community, as patriots Of tie same county,, '''
common interest IN all that concerns genera WI :
unit the spirit OF mutual kindness and boihery low.
sacrifice or political preferences Oh the alter oithc public
good and, Try iotearance and concession, towards
another restore los! confidence and devise and recon
mend the and means for exiricatiun from the
cmharrassnens which surround us.
But, In order To define, explicitly, the view
which | tale Of the existing condition Of the
country and the remedy which propose, it will
be necessary to take rapid glance at the condition
Of things in State, and especially III our
own vicinity, for the last three four years. The
crops Of every kind, in 1898 and 1889, abundant.
and readily commanded prices which amply remnnerstcd
and satisfied the producing classes for their labor and
care. Money became plenty Real estate advanced.
The Farmers and Planters, i'll many instances, made
purchases relying great degree, upon future crops
to meet the payments. The Mercantile interest was
prosperous and the Merchant. instead Of pressing eoHec
tons. pressed sales rel ing too upon the marketing OF
future CROPS enable HIM collect his debts and pay
the Northern Merchant. But the crop oitbacco for $40
inferior in quality, and fell short OF realizing The
expectations that had been raised and TO add TO the
barrassmen Of all classes the wheat crops for $40 and
1871 almost total failures. These untoward cir
cusances left the producing classes largely indebted 10
the Merchant without the ability 10 pay, while the
Merchant indebted at the North-the one relying
the other to enable him to meet his engagements and,
as the Merchant is generally the last man 10 be pad. II
will readily be imagined that he has realized but
Ger portion Of his anticipated income What he has been
enabled TO realize has been, principally, in the shape Of
negotiable notes which he has had discounted at Bank,
in Anticipation of the tobacco crop 10 come in The
state Of the weather during the past winter was such as
prevent the Planters from preparing their tobacco Tor
early ,rzng; and this circumstance, IN connection with
the dstressinay low prices with which the market has
opened. will prevent and deter them from coming early
To market unless they forced by debts at home. In
the mean time the negotiable notes running TO matu
rty The drawer knows that his Merchants his ondor-
ser and that his credit at Bank of too much importance
to him to suffer protest, and he Ohe Paner.) gives
himself no concern abou, it, In this situation without
the ability to collect dollar, what can the Merchant,
with all his resources, do2 His only alternative Is to
offer other good paper until the crop gets to market 1t
turns out however that justa this crlsis,and suddenly
and Unexpectedly peal OF thunder in clondess sky
the Banks are threatened with instant resumption ;
and they order repare for the worst have come TO
the determination not 10 offer any further accommodation
in the way of discounts but to pursue the pocy oi IA
p:y curiailing their circulation W here Is The money
10 q nc from ? Ibelieye speak advisedy when say
there is moi money enough in circulation IN tfesonnd
inc country TO nav one tenth part of the Bank debt 1t
Is in tho hands or the Nohern Brokers' and how shall 're
oct it? II is well known that the Merchants abill-
lies are Al, n,yabe hrouo Bank and that consequently,
Bank credit is every thing to him Unless the Banks
at this mncure afford him reasonable relief he cannot
maintain that credit even with boundi,ss resources
he cannot collect money how can he payn' Is the ,hef
chant then to be sacrificed To whose heneh VIII le
sacrifice en,re2 Certainly not to the Banks-cerlany
no, to the Planters and Farmers tmay possibly enure
to the Svlock who demands his last OF flesh with
feelings of s,ocism that unmoved, the mother
weep over her fmshed Babes whose father his gripng
avarcc has brought beggary-l believe that with the
very short time allowed the Banks for resumption by our
sapient masters the Legislature they may safely ven
,c to relieve the Merchants until the crops OF tobacco
and wheat get to market.
1t will be seen from the view which ] take oil the
present posi- ton of affairs, that neither the banks, the
Merchants nor the Planters and Farmers are directly re-
sponslble for the panic which now irshens men ont OF
| llt oil orc