The Cadiz Democratic sentinel. [volume] (Cadiz, Ohio) 1854-1864, 1854-11-29
Monetary and Commercial.


AT las. dates, Ohio six per cent. stocks
falling doe'n 1856, were selling in New
Iork at 95 ceuts. The recent failure of
several of the Ohio Stock Banks has been
Chiefly instrumental in producing this de-
probation. The Board Of Control of the
State Bank have also, it is supposed, been
crowdlng into the market that portion of
their stocks invested in the Safety Fund Of
the State Bank. Should the Stock and State
Banks continue to explode, Ohio stocks will
of course fall in value; but as its an 'iII. wind
that blowF nobody good, the State, which
is I'qnidating its debt, will gain BY gather
ing in its stocks at very advantageous rates.
The Stock Bank system in Illinois is SHY
erIng in the blast. A meeting Of merchants
and Others was hel in Chicago few days
sluce, which endorsed their solvency. Such
meetings generally Immediately precede the
explosion of Banks. Indiana was full OF
such meetings, called to endorse and swear
to the immaculate rirtuo Of their wild cats
about three months since. We put down
this Chicago meeting and tie white wash
ing of the IIIinos~.Whig papers as bad
sign for Sucker rags. D. '
IdTouching the monetary pressure, and the
prospects, of The future, the Philade!phia
Leayer has the following; ....a
The impression is daily strengthening that
we have not yet reached the crisis in our
monetary troubles. The sooner we know
this tie better. The weaker Incorporated
banks continue daily to go by the board,
and with their suspension the failures of pri
vate individuals and business firms are on
4 increase.
1t Is idle to disguise the fact, and worse
than folly to attempt 10 stultify ourselves
with the idea that the worst is over, and ths,
stock prices must from this time forward
improve. The country is too oyerwhelm.
ingly in debt to render any speedy resus.
citation probable. 4 Time, economy. and
great labor can only bring business and
prices up to what they have been.
Now that the banks have commenc ed
breaking no one can tell how rapidly..bank.
ruptcy may overrun the country. Every ad /.
ditional failure makes the next more proba.
Ole. There is daily growing distrust.
Credit is daily weaker.
II is useless to deny it. Panic will but
aggravate it, and that panic may be avoid
ed. we would have the trouble while vet at
some distance, an while it may be con-
troled, boldly faced. Banking must be
materially narrowed or it will be entirely
uprooted by failure. The bonds Of unpro.
ductiye railroads must be Withdrawn from
the market, and every merchants and man.
ufacturer's business narrowed 10 as near
cash basis as possible, and this must be done
quickly.
We heard yesterday Of two more failures
in this city, both in the iron business, one
Of which j. that Of quite large concern.
Paper of al kinds is negotiated with much
difficulty and only al very high rates. Tie
banks, as ever when their aid is most want.
ed, can do nothing towards relief.
On the contrary, they greatly aggrayate
The pressure by B coming grasping in their
demand, and remarkably close in their &C
com4lodations. Necessity forces this con-
dition Of things on them. They have no
It's inseparable from the sys.
tenn Of banking, and affords another illus.
traticn Of The folly Of making bank accom-
modations basis Of business. sF
/. The trader who has least to do with
banks, invariably comes out best in the end.
Banks have money when few want Il, and
seduce the unwary into enterprises that Of.
tener than otherwise swallow them Il, ruin
aifording no relief in the hour Of trial. will
prudence and economy on the part of ali
the financial crisis may pass, leaving the
country little tarmel.