The star of the north. [volume] (Bloomsburg, Pa.) 1849-1866, 1851-11-06
From the Erie OIeerrer.
What Causes Hard Times.

"Where all the money goes tol" and
"What causes the t2h:ness in the money
market ?" are questions as hard 10 solve, in
the opinion of some, as that Worldwide
problem, "Where is Sir John Franklin ?"
Does Bank break, or some mercantile
house in New York or Boston burst up
does some specializing visionary without cap
al, but superabundance of brass, succeed
in getting others es visionary as himself up
on his paper TO the tune of half-a-million or
so, and then, when credit can no longer be
got by hook or by crook, made Zone grand
falure,n and flourish in the newspapers as
paying but three per cent, we are immedi-
ately saluted from thousand presses with
the cry of "hard times )" and then it is that
the political trcksters of the Greeley school
seizes upon the event as evidence of want
of some kind of patent legislation. Their
stalking-h horse, the Tariff, is generally made
TO bear the burthen, especially if some i'm
portant election is about TO take pace-if
not, then we are told it is the want of more
Banking facilities, or some other modern
contrivance TO secure living TO the rapidly
increasing numbers of non-producers in the
country. Now, in our opinion, the whole
question is contained in a nutshell, and the
solution as easily extracted as The meat OF a
nut, if the inquirer will but go as naturally
10 work.--Over-irading, over-specula.ion, and
extravaganza generally, we take it, is al the
bottom of the whole matter.-Building cit
les on paper, like Dnu kirk, and then specu
ting in corner lo.s--bui!ding factories where
factories won; pay.-construciing railroads
where plank roads would pay better ard an
swer the purpose as well-bnying goods on
credit and selling them ON the same terms
all these, and much more Of the same sort
are among the causes that conspre 10 MAKE
'hard times and consequently, stringency
in the Money Market. Again, New York
er, a Bostonian, or a Philadephipn, is Q
mere nobody in upper-tendom now-a-dayt
unless he has made the grand tour OF Eu
rope-unless he has spent thousands in the
purchase of cold paintings in Italy, which
if the truth were known, are not as cold" a.
they profess, but have been manufactured
by some cunning artist 10 satisfy the parven
ne gullibiIity of such connoisseurs 90
thousands more in obtaining letterspaient tc
"good society" at home by giving CRANE
dinners or supet5 suppers in London ant
Paris, at which bis son or his daughter hat
the "honor" of dancing with the "accom
plished Lady Betty Nonesuch," /" or the "dis
tingulshed Lord Fiddlefaddlen And when
they come home the plain and simple style
of living to which they had been accustom
ed, appears insipid and stale, and ther
comes boxes at the Opera, grand parlie.
which cost not less than 81 500, according tc
the newspapers, splendid "tum OUTS" and
servants, in livery complete the receipt fol
Brightness in the money market,o SO for as
they are concerned. If the effect of such
extravagances stopped here, no one would
have righl 10 complain, but its influence is
felt down through every strata of the body
polite. In the middle walks OF life thous-
ands have been spent in single night
much of which no doubt oughi 10 have been
appropriated TO the payment of debts, upon
a Swedish singing girl and her troupe Of for
eign followers But why pursue the subject
farther-let this one fact suffice. According
10 the New York Herald ii apears that 81,
200 people attend the different places of
amusement in that city nightly, and the re.
celpts OF these places are over $1o,o per
evening. Add to this tn immense sum-
feceived by saloon keepers, gaming estab
lishments, and other places of equal inter
est, and we think it will not be difficult Il
answer the question, "What causes hare
timesW - E4 t8