The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1845-07-26
MISC ELLA N EOUS.
From the u. S. Juynal.
SHALL WE EVER LEARN WISDOM

llhere IS CLASS oil ihdii lduals IN society upon
whom present warning and past admonillon fall
nike unheeded and in vain They are those
whom the tanacal spirit of speculation has made
reckless, wild, iinprovdent gamesters, whose eyes
are dazzed with the splendid fortunes which seem
floating i'll every breeze, really to be possessed by
only reaching ont the hand to take them
But few short years have passed, since hun
dreds and thousands left their farms and work shops
and plunged into the maddening vortex, with the
vain hope of growing rich in single day. The
temple of malnmon was crowded with ardent
worshippers from morning until night and from
night until morning. The paper money manufac.
tnres expanded their issues of promises to pay. to
an unheard OF extent; men were allured in almost
countless mutudcs, from the steady pursuits of
agriculture and the mechanic arts, and joined in
the chase of those glitterng stock bubbles, which
cheat the eye with the appearance OF valuable
substance. but turn to worthless nothing i'll the
grasp. Hundreds aud thousands left the pure air
and sober minded people of the country. to mingle
with the sordd crowds in the noxious atmosphere
OF city, 10 seize the opportunity of bargain aid
build up fortune by the low and debasing arti.
fees OF trafic. They left sphere where they
might have filled useful and profitable place. and
became restless, vuIture-eyed cormorants Of trade.
The farmers son, in an occasional visit to the
city, remarked the outside tinery of the gaudy
coxcombs Of commerce, and he returned dlscon-
tented and unhappy TO his former vocation; this
increased by the mind dwelling upon tho contrast,
and he too must turn gentleman ahd get his living
by his wits This mania became well nigh uni
Nersa All classes, sects, parties and professions,
caught the maddenng infecton honest pursuits
and slow gains, were held in utter contempt; no.
tells were built where there were no travellers,
houses where there were no tenants, and cities
where the foxes burrow; paper towns and paper
villages were stereotyped over every cabbage gar
den; towns were laid ou, in the west, within
short distance OF sunset and the world seemed to
have run mad. The banks flooded the country
w.th their rredecnable debts, called money; men
not worth thousand dollars in the world import.
ed goods by the half million, giving boated
fictitious prosperity 10 trade only to plunge the
country iuto bankruptcy and ruin
In three years there was an excess of imports of
in the year 1886 alone, there were SIXTY MIL
LIONS of dollars worth of goods imported, over
and above the demand of the country. The banks
enabled the merchants to over-borrow, over-trade,
over-speculate, and general bankruptcy the
consequence. All the stupendous evils that fol-
lowed were predicted again and again The pilots
at the helm were repeatedly warned of the threat
or Il 4.
voice of the coming hurricane, but the warnings
were disregardel. The signs and tokens thicken
ed; prophetic andcipatons of national ruin fell
unheeded upon the ears of those who were drunk
with their tanatcal schemes of eXtravagant specu-
lation, and these monitory cautions were expended
in vain The vessel Careered on, crowdng all
sail; op-gaants and royals were unfurled 10 catch
the current Of higher atmosphere. fore and aft
proud streamers lutered in the breeze, when
CRASH! her mass are shvered, her seams are
parting, her timbers are trembling, and her late
reckless crew clinging to the rigging for life.
Who wrought all this astounding ruin' Who
expanded the air-bubbe of the paper promise-to-
pay money credit system, until it bust, scattering
desolaon and Iismay, throughout all the borders
of our land' Who were the authors and abettors
of all the heart breaking misery which filled SO
many hitherto happy habitations with insupporta-
Bile agony' When we were pointed at from
abroad as nation OF bankrupts, who ought to have
borne the damiing infamy of the deed'
Reasonable people would have naturally suppos-
ed that this terrific tornado, which swept over our
cities like the besom of destroying angel, would
have taught us a salutary' lesson; one that even
time could hardly have elflced from our recollec-
ton. One would have supposed that it would
have induced profitable reflections upon the eva
nescence of property; upon the egresious folly
of those who base their hope Of earthly happiness
and distinction, upon wealth alone, which mere
breath may at any time destroy. Is this the fact?
How many parents have learned to profit by the
lesson that the millionaire of yesterday may be
the beggar Of to-day, and to educate their children
accordingly? How many fit their children to meet
these sudden reverses of fortune with calmness and
resignation How many of them are prepared to
maintain themselves by some useful employment t,
when the season of adversely comes? How many
daughters prepared to superintend the concerns
of household with prudence and ecunomy' OF
what value under such reverses, are those rihes
and fooleries called polite accomplishments, com
pared with knowledge of domestic economy'
How many of these delicate dolls, fashionably
termed yO,tng ladies', can even hem pocket hand
kerchief, much less make their own cothes-or
even mend those that are made' And yet they
haze finished their education!
This great period OF national bankruptcy should
have taught other lessons: it should have turned
away the minds of men from their hallucnations
TO the sober realities of life it should have taught
Us that honest industry is the only true way to
wealth, and that competency with contentment
is wealth. 1t should have read US moral upon
luxury and extravagance which we greatly
needed; il should have swept away the corruptng