The Camden journal. [volume] (Camden, S.C.) 1836-1851, 1842-10-12
From The Rrliimore SIN.
AMERICAN CnEDIT ABROAD.

which an agent has bccn sent out, VIA. : " W."
my aspect American credit abroad, IN conh-
tries where it once stood higll, is not Only CO..
ccednelv low, but evidently in a co"4''lon TO
forbid The hone of y srecly restoration Uur ma-
tional aren't, sensible OF this, ar'i iac.'N'r aSsIr
ed. from the crsas avcr.op manifested ty TIE
Enrlish nublic. towar,; ;hc in;rn:l !c''nA % any
American stocks, that il was quite useless 10 o.:
fer the government !oa1, had, 1T iin las accounts
from him, moue on 4 pi"qs;rc cXcnriioI 10 ir
Rhine. Another evidence ri the io" cn"ijun
of our credit il EnfG,aa, Is iOua! IL the lac, orc
of credible report, Il III when tic !a!.ure o: Penn
sylrana 10 pay her interest was announced "n
the Exchange il Amsterdam, so Enca iG2tih|
was evncah that ~, senior partner @! tie ho"*n
of Hope l. Co., Uas t;irCajaDGj "Eh I.ii.' ana
abuse, from which he was with difficulty protect
ed by his friends: ani why! Fo' Tic rcason'
and that only that the firm Of which nc is mem
her had been instrumental in in Producing IhoSc
securities, which in The general apprehension
had become insecure. TAis spirit oi dtS;rG"i
was prevalent, and manifested l;$2!l ho'l IN inc
public prints and private letters, ~ a way to
Neyince the fact that the credit @. ms coh@try
never stood lower in Europe than ii noH doe;
and this, notwithstanding we did not N i!';!c past
make the most prudcnt lie OF our crc'i,, we
consider at once circumstance TO nc HHp'"Ft!''
and subject for crave reflection. II /" I" DC
depored, because it is 4 disgrace 10 "uf ci!arac-
ter. We boast Of our prudence and economy
both individually aud as community; in sool!l,
we Law special claim to these virtues, as we pre-
sumo we may call them, in both our social and
civil capactics. The social extravaganza Of
monarchical countries is not known among us
generally; and it is quite certain, clearly suscep-
tible of demonstration, that government costs lar
less here than amongst them; yet our credit as
nation is there so fallen, that our agent conii
find "none so low to do it reverence W Nhat
Individual would not deplorc such Il proStratIon
of his credit! None. What nation would not
deplore it1 None. It would in either case ha
esteemed disgrace. attributable 70 s1'i" aH!
in the party Obliged to submit 10 Il: "r c:"A
though it might have c0ine OF :ravl aii'2 ;nI#.,.-
tune vet as the world generally inn..S - -" -
the condition than TO tie causes .L' "r'd u: -
the public would not iccl it 10 - 1,: du 80 .2h:
excuses for those who stand t. - m''r'-,- ih
the light of delnquca's. It w7's'I ie"vn 'r1'
business to the parties ::icmScitcs, l3'9 WNiii ."
likely to treat them as We are no" tT;.2:c i-Hi-
worthy of credit, and 20 he so held HH'i "s'%cms',
until by our own efforts we re-estah!!sh oar
character for integrity and good Iaith Ii The
state of our credit in Europe be, as it clearly *,
deplorable, does not this condition OF 1t present
to the American people a subject for the mos:
serious refection! Who is there, having al
heart the honor Of the country, even though is
interests should be left out of vicw, that is will
ling to fall into state Of cold Indifference and
unrefectinr apathy, in view of the NATIONAL dis !
grace1 There may be some; indeed We are |
forced to admit the existence OF a few: hut how !
ever painful the admission, there is consolation
in the well-grounded belief, that not only can /
such apathy never become general among us,
but that the active, though very limited opposl-
ton to the principles Of public integrity ana good
faith. does not now, and never can, receive any
thing like general coun;enance or EXTENSIVE en- |
ccurs~ement It-Istrue that we have been iau- !
", that is: we have erred in the calculations
based on combined view of our credit and oar
resources, but as people VIC have deliberately :
planned course of dishonesty; and though these
who led some portions OF oar countrE liio the .
gulf of difficulties, in which they now ii!d them
selves, may seek impunily for themselves III
that general feeling Of dishonesty w'.Ich they
would fain produce, those who Eaoic he paorl"
of this country, and who have Il" selfish cause (
or sinister motive 70 either m.slcad or msreFrc- /,
sent them, arc abundantIy satisfied al o"ce o'
their sterling integrity and honesty OF purpose, .
and can prophecy of their course ms cof;c*ron-
dent with their principles, without any fear oi
failure OF LneIT pEeuIStioHS' ''''"' "'I'''"''''
may in few local cases-and ihey Will find
them "lew and far between be able TO turn
the improvidence or the knavery, or boih, OF their
predecessors to some accoHn'; bat if they un-
fortunately should, they will find their jIl-@"icn
political prosperity to be of hu; short dHrai o;l-
The people ,cW reflect; reelection is part OF
their character; and when they discover the fact
that national and State credit abroad is rot so
good as commercial credit which is that oaiE Of
a large number of individuals, and which l.; based
chiefly upon their integrity and the productions
of the country, we apprehcnd they Will no' here
after permit themselves TO be used as the lnsiru-
ments of their country's disgrace, merely that
some descriptions of men may find lmpunIty for
past msdeeds, and others obtain through their
dishonesty the political elevation for which their
ambition is so thirsty, and which with them IS
an end to be sought without any regard TO the
character of the means. Il is, then, TO the char
acter of the people that we look for the rescue OF
that of the country, now in peril abroad; 1t is IN
their general, genuine, unaduiicrated integrity,
their abiding sense of right, ofiuStIcc and oi good
faith, that we find warrant or the assurance To-
our transatlantic brethren, that. notwithstanding
the Juggling and the knavery OF trading poii',
clans, dishonest spectators and accomplished
financers," the people o the United States, true
TO their own character and their countrys honor,
will permit no stain to remain upon either; and
ofo with and udiUn1tIOu