Daily American organ. [volume] (Washington, D.C.) 1854-1856, 1854-11-29


Yes the times are hard; that Is to say, money
10 scarce In proportion to the amount needed TO
meet engagements entered into when II seemed
to be more abundant. But as there Is no effect
without an adequate cause, what has produced the
present state of thingss Extravaganza, reckless,
needless, criminal extravaganza. The American
people, in the midst of great prosperity have been
extravagant in speculanons, in buying and selling
city and town lots and in building houses. They
have been extravagant in their expenditures in
railroads; millions have been invested and ex-
pended, and other millions promised, for railroads
not called for by the businessrto be done, and
which were only intended to create business, not
to meet its wants, to give additional value to the
town lots at its ternini and to the land along its
borders In this branch we have been going alto
gether too fast; we have gone beyond our means
we have invested all our surplus capital without
completing the works begun, and now find that
what is completed does not pay, while we must
still advance more or lose great portion of what
we have invested This Is the case at least with
many roads, and hence the great depreciation Of
railroad stock.
The American people have been extravagant for
some years past, too, in dress and equipage; in
their furniture and style Of living. In these re-
spects we have not only We'd with but outstrpped
even the princes Of Europe. Silks, satins, bro
cados, Brussels and Honton lace, silk yelvets, furs,
splendid shawls, bonnets watches, and jewehy I;
the most elegant and costly furniture gorgeous
sofas, chairs, curtains, mirrors chandeliers; houses
which cost fortune, fitted up in the style Of royal
palaces have taken the place Of the plain, substan-
tia Dress furniture, and houses of thirty or forty
years ago.
But this is not all. Those who have palatial
dwellings and princely furniture, must show them;
they must therefore have their splendid sorees their
fancy balls their dinners their boxes thercar
rages and blooded bays, their footmen, their coach
men, their cooks, laundresses, their funkies," to
attend them whenever they ca. They must also
have their town residence and their country resi-
dence and, in addition to this, spend a month or
two at some fashionable watering place or places,
or perhaps make the tour of Europe, and So
journ few months in Paris, riyalling the most
wealthy in that centre Of fashion and folly in Dress
equipage and general style of living. Is it very
surprising, then, in view Of all this that we should
both see and feel hard times in this country?
But there are still other causes for the present
state Of things. There are, probably, greater
number Of idlers, Or those who are non-producers
in this than in any country in the world. We de-
pend almost entirely upon foreigners to perform
our manual labor. Americans are now rarely found
among day or monthly laborers, either as farmers
or mechanics, but especially the former and as to
hired domestic help there is scarcely anatiye-born
American to be found in that capacity in the whole
country. Labor therefore, is scarce and high, and
the consequence is, that farmers and mechanics who
are compelled to pay such exorbtant prices for it
must be remunerated by holding their respective
products at corresponding rates. The consequences
of all this is, that in this country, where food Of
every kind is 80 abundant, and we wallow in such
profuson that we waste almost as much as the pop
ulation of any one nation Of Europe consumes, the
general expense Of living is much higher than in
the Old World, where the yearly rent Of land is
more per acre than the price Of the fee simple is
here. There must be change, reform in our
habits, or we may always expect to see hard times.
We must adopt more rational and less extravagant
habts-dress palmer, live palmer, hire less help, "
travel less, and enjoy more. Seek happiness at
our own re-sides, and not at fashionable watering
places; look for it in our family and social cir
Gle, and not at theatres, operas, masquerades,
soirees, and parties.
To the foregoing causes of the present hard-timcs
we may add, that of the boarding up by the gene
raj government of large portion ofthe specie in
the country in its vaults and strong boxes The
amount thus held by the government is Withdrawn
from circulation, and, for all business purposes,
might just as well be embowelled in the EARTH from
whence it had been mined. There is, also another,
and very serious one, which has operated to bring
about the present state othngs this is the
destruction ofproperty, by fire and water shipwreck,
and conhagraton--that has taken place within the
last eighteen months, or two years. This loss falls
upon individuals and insurance companies, and 1t Is
estimated, by some ofthe bestinformed married men
in New York, that the loss thus sustained by indi-
viduals and companies, in that city during the past
year. win not fall short of twenty-five millions of
dollars. This destruction Of property is clear,
dead loss to the community; not a transfer of it
from the hands Of one man to the pockets Of
another as in the case ofspecuations and, we can
not but think, is, in general, the result of sheer
carelessness; and that devil-may-care disposition,
which generally belongs to "a fast people, who
rushes on reckless Of the present, and needless Of
the future.
Much of this loss, as in the case of the Arctic
steamer, has been brought about by the prevailing
spirit Of the times; the desire to rush through the
world with the speed Of sound, and, IL it can pos
sibly be attained, that of lightning ITSELF To this
spirit SACRIFICED not property alone in such profus
ion, but hecstombs of human beings almost weekly.
Whether our business is urgent not, when we
start upon journey, are impatient till arrive
at its termination Speed speed speed no
matter what the danger, we win run all risks of
that, only "put us through by daylight let
us go with the velocity Of the ball, shot from the
lannon's mouth, and no matter il the cars are
driven to everlasting smash, half the passengers
killed. and the other half MANNED for life; that's
matter Of no moment whatever there's enough
more TO take their places; and SO we go, like "a
fast people," as we are, both in travelling and