Weekly Indiana State sentinel. [volume] (Indianapolis [Ind.]) 1853-1861, 1855-04-19
There is vast deal OF truth in the follow
ing able article from the Herald
The Comm ercial Revulsion in Cali
fornia-Comme rcial Blund ers.

The revulsion in California is Spreading
Merchants as well as blnkers are failing it is
quite certain by this time that the Pacific coast
is to have its 1887 at once With what amount
of dsasterit may be accompanied tits hardly
possible TO conjecture. We have seen enough
of California life from those who have re-
turned to these States to know that as a gen.
eral thing the social habits of the Californian:
were not well adapted TO encounter period
Of hardship or monetary strirgency. At Sar
Francisco. almost every man lived beyond
his means. Dealing in gold, constantly Ell
gagged in receiving it, weighing it, shipping it
recording it by the million, they had come
naturally enough to think lightly of eagles
and their aliquot parts, and having earned
them easily, parted with them freely. Theil
houses were magnificent their style of living
wholly incommensurate with the legitimate
profits of business and unsuited To the age Of
The State.
When they travelled hithsrward, they chal
lenged notice by their lavish expense, until
the vulgar belief arose that Californian was
necessarily rough-bearded man, with an in
exhaustible purse of dollars aud a never-fail-
ing knife. The events of the past few week.
are dispelling the delusion in only too lament.
able way. There IS something very mourn
ful in the account of the miners at Sonora
assembling, breaking open the vaults OF
Adams & Co., and distributing the funds dis
covered therein, through the hands of COM
mittee, to the holders Of certificates. Toe
certain it is that the resources which ought Il
be. available TO meet the present emergency
have been wasted that the money which
o..r,Is to1 h. ..uaI - Io1f
off bankruptcy has long ago foand its way 70
the Atlantic States in payment for silks and
satins. rich furniture, and magnificent plate
for all the thousand expensive luxuries that
civilized industry is ever ready to supply 10
unciviized extravaganza.
Yet let us not play the Pharisee over the
misfortune of the Youngest daughter of Amer
lea The history of California is our own.-
Her faults are those of no State more con
spicuOnslv than New York. If she has emas.
culated her young energy by wasting money,
so has New York. For every temple to ex.
trayagance in San Francisco, there are a dozer
here For every spendthrift from the Sacra-
mento to the Pacific beach, we can count 3
score. Not many months ago, the bell sound
ed for New York, and men loaded with wis
dom and experience, saw in the signs of tho
times clear symptoms Of second 1887. II
has not come But who shall say that tho
danger is past At the honr we write, :
fresh failure affords lamentable ground fol
suspecting that the patched up settlement
effected by the bankrupts Of last year were
unsonnd and cannot be carried out. A few
more such, and the panic wonld revive with
greater fury than befolc. On so slender ;
basis is private credit resting that few fail
ures would be quite certain to precipitatc ;
crisis far worse in its consequences than tina
of September 3ea