The daily union. [volume] (Washington [D.C.]) 1845-1857, 1853-06-28

. NJ
Many OF our well informed commercial men have ex-
messed spprehensions that Preseui high state 81
sIy was 10 be succeeded by OF those revul.
lions ia tIsds which spread gloom and disaster The
Ind We have INDUCED such spprehensions ourselves,
.sd are still dsrosed 10 regard such an occurrence
:, sufficiently probable 20 make il prudent TO examine
.asaly into the chances Of continuance Of our pres
.,nt commercial prosperity. We fDd In the money ar,
nele OF the New York Herald able and interesting
discussion OF this subject and. without coneeding thai
The writer has removed all apprehens!ons. we are
rrsi6sd that our prospects aiiterng. Our read
=. will hud the following extract highly interesting
. W. have had such long period OF prosperity, hs: the
.ion is daily gaining strength that we must soon
.eoes a reyuson-a reaction in financial and GEM
F,sl affairs Those who do Lot see any indications Of
- .nproaohng revolution think that Il Is abont time
oIhsr crisis should be upon US Many have been IN the
of anticipating periodical evnsons, and on that
80, they think IL 10 about limo we should have another
nh4r. who look closely into the matter. exhibit con-
sbe anxiety relative TO the future. IN conseqn oil
~ ssdy expansion which has for several been going
- IN pubic and private credits The numerous projects
lh have from time time been put upon The market.
- IN. immense amount OF capital which they have alb
nod induce tue more cautious 10 suppose that We are
soviny upon an unsound, dangerous surface, and
before the pse OF many months, be brought up sud
Win temendo crush These fears and anxieties
"a ns,ral enough and we not disposed TO make light
Them The effect is rather of favorable character than
Ayse and we more in favor OF frequent moderate
ck, tban any sudden. disastrous withdrawal OF public
.onsaence We have had, il is rue,a period of about
w wears of great commercial prosperity we have within
hat time enormously extended cur system oil internal
nrovemeuts have projected and completed lines Of
.amships extending across al The great oceans, ana
20 constructed fleet of clipper ships, surprising IN
nher the navy Of Great Britain We have enlarged and
no,oyed our cies, and have filed them with splendid
,alaces aud magnificent storehouses Our great staple
have Ike pl with he progress OF other things,
end consu,n pon is fully up to the supply Amidst all this,
,ces for the necesares Of life have preserved uniform
nv unusual In times Of prosperity and extravaganza Lux
u,ies have become expensive and those who have
heen dsposed indulge have had 10 pay well for it, The
mower 10 live within moderate means has, however, ex-
srd phout, and the poorer classes have not been
obliged 10 20 without OF these ordinary comforts In
,hi, uaucuar least the present state Of things differs
materially from those periods when speculation was ram
mani and production appeared TO have been lost sight OF
s,,irey The movement is natural and real then il
was artificial Il was at that time speculative now II Is
,a I'd, and Legitimate. The effect aoge deienr
and the result W i'll differ materially from what is generally
anticipated In former times the basis OF any expansion
,ss sper now [ is something more substantial Then
SPECULATION took hold OF visionary hings now tends to
,he development Of our most valuable resources The
ea speculative movements in past years have been con-
nned principally unproductvo kinds OF properyo real
estate or lois located one knew where Benunulyen.
,,yed ma ps consulted 10 learn the situation OF lots
svbicb had never fore heen heard Of capital and
credit lavshed upon property which in itself had
actual value. All was unreal, artiicia-a bubble Now
we are working upon different foundation and upoh DIFF
trent principles and the result must, natural
auence be entirely different. Every great Interest Of the
country is at present In sound and healthy Pro.
ducton has been arrested, but the contrary go.
ing on more vigorously than and prices for all o
geat staples but moderately remunerave This is ia,
yorable for the consuming classes, aud preserves healthy
SAFE of these interests The basis OF prices is gold sill
yer and SO long that is the regulator shall be
abrct those violent changes and geal which
have heretofore been disastrous. SO long the sources
Of all national prosperity sound may rest as
.ured that no general revision So long as the
industrial into Of the country healthy 90 long
cur prosperity will be permanent"