Wheeling daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1852-1859, 1855-04-17
oa,lses q Revulsion.


Ibis city ljeen the Aaton's rod which has turned
10 A serpenI and deSoutel everything else, except
the lawyets-a food lttle loo difficult 10 be swal.
lowed by sefnent-alitlle TOO tough lor the cane
even Of patriarch. But other professions have
been like ItoGs or toats within The Jaws OF these
two cnplcl:us, enguhhing evil!, ratesl and rentS.
No city, no business, no Trade, 10 industry, eneT'
ryOt perseverance, nor oil together, can fOt any
Considerable length OF time flourish, OF even stand
The enormous tale Of Eve, font OF three per cent.
ntt month California Is probably The only IN
stance IN the worlds history Where such cOndl'
lion VI things could have existed as long cs they
have. But the result Is at length seen, anu loo
keenly fell. The tenant has been Impoverished,
partly by The onetoUs demands Of his nnll1id,-
The borrower has been made bankrupt by the
rates charged lin for The loans he has received.
We have Il from very gOOd authority that Hairy
Meisgs paid in this city FIVE bundled thousand dol
lars III interest during his business OpeEallOnS. Tie
paid at the rate Of one per cent, per day, gen.
llenlan who loaned Inn from lime 10 IiWs large
sums OF money found himself mnlctGd 10 The
tune Of nineiy.seven thousand dOllars by lie
ptuhI finale 'Of honest Hairy MelsgS, and Vel he
boasts, II is shd that he Is yel lnEty.llTee lLous
and dollars ahead OF that enicEntlSing SpecnlHlOf,
EOr laily laD paid him one bundled ami lhlEly
thousand dollars IN interest,". We know one par.
| ~ who was woil property Two years ago valued
al quarter VI million, tut who has been rdlned
by interest anil depreciation oil rropsIly and stocks
WIN paid within eighteen months lofty thousand
dollars in interest upon money borrowed 10 enable
hin 10 fetain The property IN his roSeSlOn'
These ATE very significant facts, btII 1heY are
mol Isolated ones. They serve 10 SHOW bow nnwINe
nnIiy OF our business men have acte u s HhwSe
thus 10 borrow ii enormous Iulesin OfdtE 10 Ielal
property In hopes Ol its ultimate gtsni value Sell
In is Il thai real estate will justify any such posi-
| i've burden in hopes Of q TemuHC:aIluS advance
in tue future. Nor is il Often that any business
will Justify 10 The coil Judgment so dallIIS spec
uatlUn. In tie infancy Of this city such SrvcFe
,lraushlS upon ones means may hnve been wisely
buFne; but not now, and probably never again.
eau It 10 long sustained. Such interest, such
rents, arc the Ganker Which gradually destroys llis
whole 1rSh; tie Clnker which commences rm'
ple. hut which gradually becomes on eating and
wasting sore, durable only by the CIIItTe deSlEuc'
ton VI what il feeds upon.
Economists will answer to oil this that supply
and demand regulate rates aud tents Us wen as,
other transactions. This is tue. hut what Fegu.,
Iles OF Talher CreaieS aud influences the Ienandf
| With us lie denanl has been created ny lalse
estimate oil propety OE real estate III particular;
aud mol only that, The continued progress, pros
petty and trade OF this city hove been exceeding.
~ oyer.estimaled. Men IN itIde hive talked Ot
San Francisco as The New York, the London Of
the Pacific, and hive consequently assisted IN
'pIliDg up lie agony OF enormous rents upon the
Eiise tsiimqte Of tie absolute business, l%st and
Eprcseni, and pWiirubiriy in The future, which
they assign 10 this place. Now they begin 10 see
that tie three bundled thousand population Of lie
the State cannot build Up here at once city IKE
New York Ur London. WUurG now too large lot
the business which the necessities OI The State de-
manl.
TIE bubble has burst People now do moi eS.
meet, US they did n yeAt since, 10 SET lle whole
county between Clerks Point and lie MISSION
coveted within tGO years by continuous SreccS
sion Of buck nIld grinIte iInr'Sinty Ol0cAS Ol
buildings. i,OtSUf GISuIale sand aud InhosrlIaUle
ILLS three mites from The city are not just now
considered worth five huMiret dollars front loot.
Yhey Hay Be SOmC century hrnrr, hui moi IN your
day nur niine. let us Set Eack to rcaSoII' l.'"d
Is valuable Slll the city will continue 10 ProGtrS>i
bnt there Is a limit 10 the teal value Ol property,
and much uf that in this city has been held far
beyond what reason dictated. The clly's days VI
wonder have passed. Calculation, G$peElt nee,
and common sense should lenCefOtlh he The guide
If its citizens OvsT estimating, OvcE'lEadliE,
gas, and CANNON have had their day.
LII us get down ltOm our SIlIlSi they ATE unsafe
meInSO Of lucUmU.ion, aud Ute apt 10 t0ppln over
those wi q usa them, alteii they arc capable Of
rather long strides. The high InirS and tents ATE
unnItutaI, because orr calculations have been UNI
nature AMI rltOncous. We have lived too fast, have
lived in the lu,ute too ior. Luxury IN living, us
II expectations, has neatly ruurd every tmne.--
Lei men henceorh ibise their calculation u the
States and city business The teal estate, The tI"'e,
cnltuelcp, mining, aud consequently iheiE present
In.,. f,,tr "a las
and experience dictate aud the times will improve
Tie county and the city ole capable yet 10 achieve
a great destiny, hut they never Will while the
wild calculations which lave caused the !Is"p.
puinlnsn Mt ii not the ruin, Of thousands direct al
le rourses Of TIA IT, all tue estimates Oi tn present
and future. The city md State aud individuals have
live beyond means, aud this has been the "nn'ln'
ton Of our partial shipwIeCk.-.Sm F""Fi'e0
Chronicle, March To-