The Caledonian. [volume] (St. Johnsbury, Vt.) 1837-1867, 1854-12-16
TIL. TINES.

TIE TIMES.
The signs C. depression IN certain Branch
e; ot' IT," !r mess If the country a,r 50 pa
pai'y plain that airy one at al! acquainted
with TIE state Of ai!':iirS cannot fail 10 real
:hcm However much we NAV wish that Tie
sky WIS clearer in this respect. we still see
the cloud. Its approach has been Hcrrcp;i1*
for some time. Slowly !'ut s!rc!v.i !: ha< bee"
gathering closer and closer: AID Il il !.;,s no.
vet reached It's full, depth Of darRnc>-. in Ger
tain .~tions of tie country. We pity il.o>c
destined! T., cn'"r" s:i'' "reatcr oFSe;',:,:5 II
Of ;h"r !.o%,.
For months MONEY A;s been close IN 'h,'
cities. Thc rates Of interest have ,aH,:"l tie
p,st season in Go:toH 'roN 1910 II per cc:.t..
willie now Tie hc>t names coIrnau! loans 4:
rate no les: than /. rcr cent, ID cr'!;nar,
rancr is ea>Acd as h;.!t rs >: percent. Me-.
must .r in argent ,ircu!2, .a"yc> & be con-
rc!ic'! TO borrow money d these re-. .: q!
bankruptcy if !.:s state Of ''.;"%f s'.o:.>; con
tinue lon.:, VIII surely ovc.l.le ~ =. i,
Business Of no kiuI w;N warrant The ;,ay,ncn'
Of suh rates for The u.c q. fuu!> Mar. -
less Of business mcn hayc already i:.;ly,i OH
crs, u.!or1;cd!y, Viii f,I.ow III t'c:r .,2t-
step.
The pressure is mainly felt IN Die CITES.
Business men in TIE country, depending ui'-
on city markets for the d>rc>ition q; them
manufactures, ard the realization Ct cash
therefor, feel the influence Of the s,a-na;ion
more or less But will it reach The country ::
Money l.: more plenty in :!.o coun',y, com
paratiyc!v. than in the cities. ,:u,t o; inc
productions of the country now command.
and have for long time past, COMMANDED!
high prices. There is money in the conn-
try. The country is rich. The ti!crs Of :h,
soil have been in high feed" Their Y9ck-
cts stand out with i.:ncaS. They VII rcta.t
what they have gained; an! II! TIE no""t;,..!
affairs Of the inland States are coudurtc,, up
on legitimate prnci pies. we hope ard believe
tia: tie present pressure viii main. y >;'cn'
its force in the great mar:s of trade. -"
there is danger tha:. with the inauccluc"t, OF
the ruling rates OF interest in tie cities .!ou
cv, to some extent, vii! be attracted 20 ~
cities. individuals -venturc$onlc men wi,
take or send their money where t!.ey can oh
tain the larrcst SIM iOr its use: and Unica
some Of the country banks E.end their :.an
ncrS, more or less OF their available fnn'!
viii take the same direction. In ibis va,
scarcity Of Money riav be created IN tn
couHtry. greater than any other i:l.:;e:'.c-
n:,,icr pr,>ci.: circumstances, would - Ike.
to producc.
I;ut what is Tie cause OF dc ti.!.tncss i,
the mom"v market? There is, in orr mind
one leading cause, which, though, is not with
out its roi..;;.:erals. Two facts revealed in IA
I,::c message issued by President Fierce, OK
plains this one, aud principal cause. He tell
Us that we have purchased o! goods, &C., -
600 $50 more of other countries than we hav
sold to them of our own productions. Srcci,
of course, to this amount. has been take
from this country to pay this balance ac;i'.>
us. A.ain, he further informs Us that Their
is about All cqua! sum in the treasury OF Ia
United States, locked up beyond the rc;.c
of the people. in the stron" boxes Of Tie Su
Treasury. Specie, with all that we get !ro.
California, is scarce. 1t is the basis OF b,;,
ness. 1t is the basis Of tank discounts. Wit
this scarcity the banks dare not venture upo
plentiful discounts, nor can the people d
business without it.
Here, then. arc some $j000O.000 &C srcci
withdrawn from disable purposes, from the b:l:
nc>s of the country. Is it strange that nlch
mare rests upon some OF HE leading branch,
of business. requiring the use OF large su,.
. Of money?
y good share of the gold brought frol
7 aillUfni: 10 tEc -At.nllc states scarcely IA
res over night. 1t is shipped to Europe t
pay for unnecessary and unhealthy import;
tons. The amoun: brought sem-monthIy il
the steamers from California, is nominal
: large: but it does not all come from Il!
mines, as did that received FROM the I.c.
regions for a year or two or more ;!jc: T.!
gold discovery. Now, inucl, OF ii is the an
. that hal before l,..rn in the Eastern Sate
and taken to california Tor bI.>iaes: and otl
cr purposes. There is therefore an in>l.l
. cheney Of specie 20 lay Our foreign ba!aac,
. and TO supply the lone demand Bat :,r Il,
: heavy receipts ior ;ile last hall ,iozca YEA
We ,,:oli. ere :!,is have Eccn IN >,:;,c. col
o:;:. tines 80 now arr. as i..c H. i,!aatc ii.
positive l>>,!; # the l1:c:.n ,,r,::aaar
W. do nr; ,..ow ~i.cn !: viii be o:hcta j.,
:.,.,:. I..ott;,.: :, VII. il cr. g.. free ;I.,..
;da! ;s">,ra!:u:..:..At: m ,,a;;.: !. .oc>:t.o.
-. -, t..... T.: 81; 49,. 49,. ::... ~
p