The Columbia Democrat. [volume] (Bloomsburg, Pa.) 1837-1850, 1843-01-14


sai'fives Of The Commonwealth of Pennssl
. Vania sg s&g tf ais.isJ
-ls@ FELLow CITIZENS Having, in nv
afnrmer messages ,enered very fully into the
.sfpancial condiuon and other general inter.
es,s, Of the slate. ! deem il unnecessary, 10
repeat the views then submitted TO the Leg.
'islaure,. bn. simply 10 refer to them. and
SAY, that they feinan in all respects Sub
esianiially'ile same asshereiofore expressed.
,hIsta'l proceed at once local your, attention
10 those matters Of public policy which
seem 10 require, in the creates, degree, The
attention Of the Legislature. In common
with every state in JIle union. and with all
parts OF the commercial world, the citizens
qof Pennsylvania are now undergoing The
severe ordeal Of pecuniary emba rassment.
Business of all kinds is crippled and para
1yzed; private and public enierprize has
'abeen arrested; the timid alarmed. and even
The bodest staggered at impending evils.-i
But u is some consolation for us to reflect,
that these difficulties are the bitter fruits, SO
far as Penusyivania is concerned or me rash
- HHp0IiHc legislation OF q single year. and
that none OF The responsibility rests upon us :,
For upwards OF ten years Pennsylvania
had been gradually Improving her condition
and enjoying all the advantages iha, can
arise from substantial currency, and ,he
entire confidence Of all paris Of the world.
AZ an unfortunate period. The banking cap
isal, which had been, during the hourishing
season, about twenty millions Of dollars, was
increased 10 near sixty; and. as oae OF the
most fatal, consequences, many unwise and
lmpoilic public Improvements undertaken,
,Ecorporations ,crea,edfor purposes far be.
yond their means 10 accompish-indyidu.
ais contracted responsibilities and entered
into spccnlations, which they were totally
unable to bring 10 a successful close; and.
finally TO render the catastrophe more de.
s,ructive, the explosion Of this enormous
bank bs9ble has crushed all these enlerpri.
zes, public and private, and Ief. in every
quarter OF The state some monument of bias.
led hope and pabic folly. Il will require
little time TO recover from the panic, and 10
estimate. with precision. the ex,en, of the
mischief. II will probably be found far less
than has been generally supposed. The
vIgor and industry of The community, sus.
tanned as they are by our immense natural
resources. will soon overcome this lempora.
ry repnlse, and go on, as if il had never
happened. Some win be unfortunately
ruined, but the great mass OF the communi.
" will in the end be hitie affected. The
portion Of the community engaged in agr-
cultural pursuits is comparatively free from
debt and embarrassment, and possessed Of
n all the Benefits that arise from favorable
seasons and plentiful harvesls.
can myself see DO Just ground for that
4 Iespondency which seems 10 pervade, so
generally, the minds Of the people. The
inJury TO our credit abroad, although produc-
1--WE OF much temporary Inconvenience, will
ultimately be scrviceable to the community.
Fl II viii teach us to rely on ourselves, 10 turn
our attention o'the developement of our
I own resources, and TO obtain that, BY our
A own labor, which we have hitherto bought
npod trust Whatever may be The fears of
'ha' portion OF our community, who are al
ways predicting iuin, aaa bcmoaning The
Effects Of causes which they do not under
stand, time will soon prove, that the resour-
ees oi'Pennsylvanls, her ability to meet all
her engagemenls and the respect Of her
c'u1ens loi the piighted faith Of The state.
have no, been in ,le slightest degree shaken
by any Of the misfortunes urder which we
aIe now suffering. In nearly all instances,
these fears will be found TO have had their
|3orisin in the croakings o( unpiincipled dem
agogaes. who are willing to underyalue her
mesns, and the integrity Of her citizens. if