Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1853-09-14
Stand From Under.

During our late perambulatlens In the
city we frequently saw inscribed on the
wallsof some vast store house the words
Stand from UNDER and on looking up
we saw some immense machinery for
hoisting up and lowering down merchan-
disc. Although very often there was no
: danger, the matches being down and
the machinery not in operation, still the
warning was timely and kept US on the
lookout. 1t struck us at the time that
this warning would admit of more en-
larged applica tion, that it would be well
if we should apply it to our business
operat ions, individual as well as collec-
tive.
That there is crisis approaching no
one who has watched the signs of the
times ca doubt, and it behooves us to
be prepared to meet the storm. This is
emphatically fast age, and we are de-
cidedly a fast people, but there are GER
tain causes which produce effects that
no degree of ''fatness'' can possibly a.
void.
If an individual family lives beyond
its income, the time is sure to arrive
when ruin overtakes it, and the same is
as true of nation as of family.
Now are we in this position !? Are
we outstipping our income as well as
the world ? If we are is it not
time to stop? To look about us and
see if there is not some way to avoid the
danger?
1t is estimated that the amount of our
bonded Indebtedness abroad exceed ST.
600, O00,0 900 and is increasing with fear
full rapidity, over $50, 100000 worth of
American bonds Of various kinds are
now afloat in the European markets
seeking purchasers. This is all over
and above the large amount of our COM
mercial Indebtedness, which this year
must be large as the amount of imports
exceed that Of our exports by an enor-
nous figure. 1t will be safe to esti-
mate our present indebtedness at / 100
100000 of dollars, the interest on which
at seven per cent. amounts to $77 ,O0O,-
900 annually. Now as we buy every
year millions of dollars more than we
sell, this must be paid in cash, or by in
creasing our indebtedness. AS long as
we can pay in the latter, things will
move along smoothly enough, but when
the time comes, as it will come, for us
to pay the principal and interest,
or even the interest in cash then
comes the crisis then comes bank
ruptcy and ruin to all who are not
perfectly safe by being free from debt,
and it is for the purpose of inducing some
of cur friends to prepare for the storm
that we call their attention to this state
iof things. 1t is fact that this crisis
would have arrived ere now but for the
great influx of geld from California, that
stayed it for the time, but the time is
fast proaching when that barrier will
be overcome and we be left to reap
the bitter fruits Of extravaganza and
over trading! Our bloated banking and
credit system will have done its work
and fortunate indeed will be the lot of
those who shall be wise enough to
be prepared to stand the ruinous
shock. Our present system Of Ban
king of its elf is we'll calculated to in
duce those periodical commissions but ad-
ded to our extravaganza and reckless
habits of borrowing for anything and
and everything makes them as sure as
death. Notwithstanding our present
prospecting, our glorious harvest, on,
growing Cities, our great system of in
ternal improvements, the capitalists of
England alone have it in their power to
crush us. Let them foreciose on us, OF
even de mand their interest and the bal.
anoe of trade which is against Us in cash
and ruin and distress would be spread
over the country-such as we have new
er yet experienced. Never before were
we seemingly SO prosperous, powerful
and strong, yet never before were we
IN danger as we are now, because new
err before so much in debt, never be-
fore so recklessly extrayagant, never be
lore was our currency, our circulating
medium, our standard of value, based
upon our indebtedres
We know man, neighbor Of ours
IN 1886, who owned good farm. and
was not IN debt, times were good, pro-
duce high, money plenty, so he conceiy-
ed the idea of buying his neighbours farm
to add to his own; he did so, and
In four years after sold both to paw for
the one he bought ; nor is this an isola
ted case, but on the contrary, thousands
were ruined by trusting in the appearance
OF prosperity and its continuation.
We hore our friends will take this
lint, and so conduct their business that
when the storm does come, they NAV
be safely moored under lee shore, with
their vessels we'll anchored, prepared to
ride it out in safety.
! We DO not wish to be considered
croakers, but still we say, "Stand from
UNDER" for there is certainly danger a.
} head Evansville Free Press.
aIAnother person from New Or.
leans represents that
The strong sinewed man sleeps a
night revealing in beautiful dreams, but
, as ne wakes in the morn, all the fires Of
a volcano seem concentrated in his bur.