Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1854-09-11
Approach of the Anticipated Cri

GA crisis ahead" is an era SO far on
ward in the future in the minds of business
men, and especially of persons largely in
debted for lands, stocks and merchandise
that they never think upon the subject
and least Of all talk upon the matter. The
idea of "a crisis" has so many terrors that
it is cast from the mind, like unrepentinq
sinners are in the habit of evading all allu
sion to death. Both events must como
however, but as to the precise time enc
man knoweth' exactly. That the time Of
a monetary crisis" draweth nigh, is evi-
IDENTIFY clear to some-even to a mathe-
NAUTICAL precision, there can be no doubt
I da sd ana pGabs66f o f tRs RaFf
Note and Commercial Reporter bearing
his name, after describing thirty new coun-
terfeits, and abiding to seven Banks just
broke, alludes to financial affairs as follows
"While we would do all we can truthful
ly to allay the panic and save the people
from unnecessary losses on paper money
we must speak out in relation to the finan-
clal and commercial dangers which sur
round us. A settling day has come
Those who can pay will pay, and those
who can't must fail. Nome Merchants
and more Banks, more Railroads, some In
surance companies and Savings Banks will
fail. Extreme prudence is our motto, and
it should be the motto of all. IF you take
paper money, pay your debts with lit
you owe nothing, convert it into gold OF
the notes of Banks that you know are
good; and don't place too much confidence
in what Bank officers tell you, for our ex-
perience is, that, the more worthless and
rotten the Bank or other institution, the
more strongly it is recommended to public
favor by those interested.
The panic in relation to Bank failures is
subsiding. In week or ten days Illinois
and Wisconsin will be 1f2 cent. discount.
and Indiana Free Banks 3f4 cent. discount.
We don't believe there will be Bank fail
ure in either of those States. The war on
Western money is an unjust and ugrateful
one. The East has long flooded the West
with paper money; now the West have
their own; and what do we hear and see
We have no information tending to throw
discredit upon any other Banh-but while
there are doubtful Banks in various sec
tons of the country, it would be prudent
to reject Tennessee and Georgia money
not well secured-the good Banks in those
localities do not desire a Northern circula-
tion-it is only those of doubtful character
that forces out its circulation at the North
and West.
We would advise, in this locality, the
rejection Of all Michigan rnoney-the
good Michigan Banks find ample OPENING
at home for their issues. We feel conf
dent that the Free Banks Of Wisconsin
Illinois and Indiana will not fail; we are
buying, lndiscriminately, Wisconsin and IL
iinols at D P cent, and Indiana at s ID
eent.-but we do not advise holders to
part with any Of this money at these rates
Tor we believe that few days will bring it
to It's former uniform rate of discount.
Our quotations for Uncurrent Money are
haoie to change any hour, so that the rates
gwen N the Reporter for the present. are
not reliable. We think all Western and
Southern will, for a week or two, rance
from 2 to s ~ cent, except Indiana, which
BIDS far to depreeiate even more than 8 a.
cent"