Fremont journal. [volume] (Fremont, Sandusky County [Ohio]) 1853-1866, 1853-01-27
Signs OF Commercial Evil.

Our Merchants have never enjoyed such
uninterrupted prosperity. breaches Of mer-
cAntlr tA;h, or failure tp meet commercial en-
2aSemrnts, have been almost unknoW n, and
thus the profit and loss account exhibits y
range f entries ali upon the credit side
NV hat n"Xi - is the question asked. ar an
I"u>y ronsi Tered on 'very side. Have W.
reached Ills igh: of prosperity only /,
nuke our fall thu more disaster0us Is the
course OF commercial atfilrs always like the
segment nf circle described b, "A chd's
swing. and can there be no progress without
u corresponding reaction? Has the world
Sf"wn M wiser with agr than thus TO toll up
The hi!l with the certainty that the ground
viii all be- lost again? Thes. are thoughts
which will com Ia many during the long eve.
ninss that close in upon The days OF the new
year
There are, il is TRUE, some signs of evil pur,
tent. We regard as the most dangerous the
rapid Increase OF new banks. The principal
danger from this SOURCE is not in the expens-
es OF legitimate banking will be great in
creased. while the profits will only be divided.
Nor is 1t So much in the h allhy expansion
which will be created by the increased issue
of pager money, although this is an egil of
great magnitude. The great danger lies in
The TACT that the control of the currency and
the direction OF the monetary affairs will pass,
IN great measure, from the hands of the iu-
dlclous and experienced into the hands Of a
new set uf men, too little accustomed to such
change. The new banks are managed in a
great degree by new hands, undiscp,ined by
torSe- revrrseS, and unaccustomed to the
dangers which are sure to be encountered.
Like Inexperienced mariuers, they will carry
too Each saII in fair weather. and way to too
sudden panic when the storm ovcrtakes
them. a large class of the new banks, too,
are originated BY borrowers instead of cap
italislss and this will add neither to their eau
ton nor stability.
Another indication of evil Is the rapid
formation Of new houses by young and inex
perlenced clerks, who ought to b. kept under
the control Of wiser heads until they are more
Tito be trusted to their own strength The
REQUESTS for the successful management Of
mercantile business are greatly moderated
by majority of the young Business men in
this countryi and the melancholy diasters
with which our commercial history in the
past is Sd thirkly strewed. seem To have no
influence in deterring the young and adven-
turous from cmbarking in the same desper-
ate unt"rpr Sc AMI many even Of those who
have some reason in setting up for themselves,
show but little judgemen. ai the outset Of
tb-ir career. They have no patience for the
small beginnings, the slow and sure earnings
which have laid the found ,tion Of all legiri.
mate success in mercantile pursuits. They
Law nu' their sch"me on scale Of magnifcencs
trnly dazzling. AMI their expenses ARE gener.
ally In - ra'i' Universe TO their profits This
multiplication Of mercantile houses will be
one OF the most trying of all the assaults up
on our prosperity for the coming year
Hanrs Asrchants' Asgariss