New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1854-11-25
PECUNIARY DISTRESS.
To as Editor u The n. y. Tribsss

To q. Editor u Th n. y. Tribsse
Sir; A merchant desires to address word 10 resi-
dents Of the South and West through the medium Of
your journal II is not probable that our country
friends are quite OF the extent Of the pressure
that now rests upsn the business men OF NewYork,
or Of its causes II is probable that they read some
panic money articles, and receive pressing duns,
which they look upon as something 10 the ordinary
way and possibly they suppose that merchants here,
with good facilities raise the funds necessary to
sustain themselves. But few Of them feel that il 49,
TO many here matter Of life or death whether they
do or do not receive promptly fair proportion OF
tteir dues fom the country. The merchants OF this
City have sold goods, In the regular way OF business,
10 men repuied responsible, and who, 10 large ex-
tent are really 60. The time has arrived when the
City merchants must pay for such portions OF those
goods as they have not already paid for. In order
to do this they look 10 their debtors but receive only
triApg amounts Of money but plenty of excuses, to
The purport that cash is scarce that drouth has pre-
vailed that rivers have been low that cholera and
fever have prevented movements Of cotton-and so
on Our merchant then turns 10 the banks for reiief
but is told I'VE do not discount, except moderately,
to those who keep large Gepositsj specie Is going
" abroad, country depositors have drawn all their
funds, and tho,e in good credit In the South have
largely oyerdrawp" In the street, favorite sig
natures 20 at IL to 10 PEI cent but operators are
yery cautious" Now If a man has not capital 10
pay for all the goods he buys, what is he to do He
cannot collect be cannot borrow; he cannot convert
goods or pawn stones into bar bills or specie. He
may be az sound ultimately, az chest Of dollars,
but Disgrace loss of credit and Of peace stare him in
the face. Ii he does not meet bis debts to the day
he il said to have failed, burs,ed up" or
cayed in ;" be is a ushed, perhaps broken-hesrt-
ed man. Not 30 with those who Owe him, and who
are the real Of the calamity. At least If they
purchased on open rotss, they comfortable, and
will take their tine. Perhaps they holding on for
rse in produce or perhaps the farmers indebted 10
them are doing 90, and meantime the victim here is
in agony, and suffers tenfOd the pangs Of death.
Country friends, right feeling as well duty require
tina, you should pay al you at once. There is
large amount OF produce in the land and the price il
bears is high. 1t shoud be disposed Of to qGidste
iroeb,edress. Il is the means upon which the City
must rely for relief Every little helps" and many
small streams will make a river. II farmers have
money, let them purchase their supplies while geols
are cheap instead Of pocketing the cash beeaHse
scarce, and thus ncre ssiDg the evil or ie' seu'
bring out their gold and bay STATE stocks 70 rehsVe
the bsnks The States viii pay in due time and
many ofthe railroads viii Jet give large diVdeods'
prrdentIy managed. II r. only distrwt snd fear Of
ib.ee ,bines ,Aat reduces their value. The mefcan-
tile debt G, the county .s iagr nate sad INST be