True American. [volume] (Steubenville [Ohio]) 1855-1861, 1855-01-18
The Crisis Over.

IilC lOllOMlhS dllVlO hO SoPJ AiOhA 'AAN
Methodist Protestant, Baltimore:
The crisis of the commercial difficulty
it is generally believed, is reached, if not
over. The New York journals speak hope
fully of the future, and, whether they be
endowed with the spirit Of true prophecy
or not, are laudably cndeavoring to inspire
courage under the pressure that yet bears
heavily upon the people. The year 1854
was really historic year. It's mark will
be lasting. Its memory will not soon fade
away among the annals of the past. 1t
will be landmark to the future. Bright
and promising in its commencement, it had
not advanced far in the march of the sea-
sons, until clouds gathered-storms burst
hurricanes swept by furiously-and gen
eral disaster and calamity fell crushingly
and almost hopelessly upon the heart of
community.
The whole country was living too fast.
New York, where the blast has been most
furious and the desolation is most marked,
had become city Of goddess corruption
and most extravagant dissipation. God
has rebuked this folly most signally.-
Other cities shared her guilt and extrava-
gance, and they too have shared in the
fear and trembling that has seized her in
habitants. The past eighteen months
seem like dream. So rapid has been the
transition from pomp and pride, masnif-
cence and plenty, to humility and degra-
dation, exposure and beggary, that we can
hardly believe the like could have been ac-
complished in so short period.
We are glad to see in the press the dis.
position to lift men up and stimulate then
to hopeful endurance and energetic action
The country is not ruined. "Heart within
and God o'erhcad;" this passing rebukt
to folly and mad speculation may be tho
instrument of saving us from still greater
evils as a people. We begin the yea
with very different ideas Of the worth o
money, of the certainty of calculations
upon stocks and rentals, from what we hat
this time twelve months ago. Retrench
ment will be the order of the day. Their
will be, for a while at any rate, less credit
less speculation and stock-gambling-les
living on results yet to be worked out |
is as true of masses as Of individuals
that they may easily live beyond thei
means; pay day will come, and that to
at the most inconvenient time imaginable
And it is just as true, that by rctrcnch
ment and careful economy, communitie
! may recover the consequences of rapid an
extravagant living, as that individuals ma
DO it. The continuation of war in Europ
may rctard the wonted ease and prosperit
g of things in America, but cannot possibl
prevent resuscitatiOn if our countrymen b
: hopeful and frugal. With the blessing {
God, better days are before us, and now
the time for energy, honesty and ration
living. America has been intoxicate
d with prosperity, California turned HI
t, head, or filed it with images of exhaus
l. less supplies Of gold. She has lived
find out that all is not gold that glitter;
and as adversely, not prosperity, is Il
time to devclope character may We n
# hope that the lessons of the past year W
t, be worth all the apprehension they ha'
excited, and the disappointmcnts tn
1t have wrought.