Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1855-01-05
THE WILMINGTON JOURNAL.
WILMINGTON. N. O.. MoNDAY. JAN. l, 1854.
1855.

1855
We do not propose to turn preacher and "improv'
the occasion by homy upon the vanity of life ant
the certainty of death, nor sagey to inform our rea
ders that they are severalIy and collectively yea
older than they were upon the LIST of January 1854
and consequently year nearer the grave. Those
who feel the approach Of age, and the growing Welgh
of years. will need no remembrancer OF tme-tnose
who do not, will heed none
Few greater contrasts could be presented than vii
be found to exist between the auspices which have
marked the advent of the present year ana that o.
its predecessor One year ago and everything oofe
the flush OF prosperity-business was expanded
credits abundant and money plenty. That the re-
verse is the case now everybody knows and feels
the pressure having affected every department OF ou
siness Gripping its operations, restricting their eX
tent. and lessening their profits. IT, sometime ago.
there existed an undue expansion OF credits, oaseo
upon California gold, it cannot Re questioned thai
the present contraction is as much below the marx
az the most extravagant point of expansion was above
It To restore things to the extreme high point
would require concurrence of circumstances not
likely to take place this year or the next namely
Deace in Europe, and a general abundance of food
throughout the world
IF the state of the English funds be taken as any
criterion of the effect of the Eastern war upon mon
ev matters there or if its influence upon Puollc con-
fdence, we cannot suppose that the effect prouuceu
hos baon very great, or calculated 10 impair conf
5orco n anv nerceptibe extent The depression is
mere rfe and this fact proves that SO lar al IeaS'
no verv excessive pressure has occurred or Is apPr
hended Upon what foundation the confluence OF
Fund-bolders is based, we do not distinctly UNDER
stand but it is evident that some such confidence
does exist IF the conviction obtained in moneyed
circles to ANYTHING like the extent that it does IN 9TH
es that the present war going to be so potracted
ruinous and expensive, the credit of the begerent
government, upon whom the main expense must fall,
would be much more seriously affected The troubles
in Canada, some years ago, knocked down funoS
twice as fast as the Russian war. Even under the
existing pressure this country, the holders OF Gov
eminent stock refuse to have 1T redeemed at the
Treasury. even at an immense premium. This shows
that confidence in the real wealth and ability of the
country is not in the slightest degree impaired The
capital-he means-the productive power OF the
world is 30 enormously sweed by the accumulatlons
of long peace, and unprecedented industrial pro-
press that even war itself cannot seriously affect the
stale of things, unless by striking directly at the
seats of industry and production. 1t is, therefore,
reasonable to expect favorable reaction in the spring
to be confirmed and rendered permanent byan abund-
ant food crop in the Fall. Few will hail this with
more pleasure than ourselves Since the establish
ment of our paper here in 1874, there has been no
time at all like the present. and the difficulty of
collection is made to press more heavily upon us on
account of the largely increased expense necessary
to carry on our business, that having increased in
four fold ratio since 1850, the business, of course
having increased with it, Ii is hardly figure OF
speech to say that there is no money about. How
obligations, coming due at this time, are to be met
it is difficult TO say. We suppose everybody must
bear and forbear, and do the best they can.
We trust that the clouds that hung over the ad-
vent Of the year may be wholly dispersed before lis
close, and that 1856 may find everything on surer,
frmer and more prosperous basis than ever. That
such will, in fact be the case, we have hope APP
preaching 10 confdence-a belief that the accustomed
wish of the season will, to extent be realized
and if, financially speaking, 1855 be anything else
than happy ne,U year." il will be quite pleasant
old one before it goes out