The republic. [volume] (Washington [D.C.]) 1849-1853, 1853-01-12

SIeNs OF CoMMERcIAL PERIL.-Hunt's Mer-
chants Magazine for January touches briefly upon
two or three topics which at this moment possess
more than ordinary interest. We extract the fol.
lowing suggestive paragraphs:
sour merchants have never enjoyed such unn.
terrupted prosperity. Breaches of mercantile
faith, or failure to meet commercial engagements,
have been almost unknown, and thus the profit
and Loss account exhibits range OF entries all
upon the credit de. What next? is the question
asked, or anxiousy considered every side.
Have we reached this height of prosperity only to
make our fall the more disastrous? Is the course
of commercial affairs always like the segment of a
circle described by chid's swing, and can there
be no progress without corresponding reaction?
Has the world grown wiser with age than thus
20 toll up the hill with the certainty that the
ground will all be lost again? These are thoughts
which will come to many during the long even
ings that close in upon the first days OF the new
year.
There are, ID is true some signs of evil portent
We regard the most dangerous the rapid in
crease of new banks. The principal danger from
this SURGE is not in the fact that the expenses of
legitimate banking will be greatly increased while
the profits will only be divided. Nor ia it much
in the healthy expansion which will be created by
the increased issue OF paper money, although this
ia evil of great magnitude. The great danger
lies in the fact that the control of the currency and
the direction of monetary affairs will pass, in a
great measure from the hands of the judicious and
experienced into the hands of set OF men, ,
banks are managed in great degree by new
hands, undisciplined by former reverses, and un
accustomed to the dangers which are sure to he
encountered. Like inexperienced mariners, they
will carry too much sail in fair weather, and give
way to too sudden panic when the storm over
takes them. A large class of the new banks, too,
are originated by bor0to.rs instead OF capitalists,
and this will add neither TO their caution nor sta
bilitY.
"Another indication of evil is the rapid forma
ton of new houses by young and inexperienced
clerks, who ought to be kept under the control OF
wiser heads until they are more tit to DC trusted
TO their own strength The requisites for the sue
cessful management of mercantile business are
greatly moderated by majority of the young
men in this country; and the melancholy disasters
with which our commercial history in the past Is
90 thckly strewed seem to have no influence in
lettering the young and adventurous from EN-
barking in the same desperate enterprise. And
many even of those W ho have some reason in set
ting up for themselves, show but little judgme mt
at the very outset of their career. They have no
patience for the small beginnings, the slow and sure
earnings which have laid the foundation of all lie
Ultimate success in mercantile pursuits They
law out their scheme scale of magnificence
truiy da zzling and their expenses are generally in
ratio inverse to their profits This multiplication
of mercantile houses will be one of the most frpng
of all the assaults upon our prosperity for the COM
ing year"
st1