Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1856-01-04
RetrOSpeCtive.

The last day of the year 10 be fitting Pc
rod TO cast glance over the events by which the
character of the time must, in future ages, be est
mated Eighteen hundred and 6fty-fveis not yet his
torical The feelings of excited partizanshp in
evltable TO all times in which history is acted, must
measurably subsde before that history be rtten,
and even then, need hardly say that infalbility
is no attribute of ocalled history.
But there are events in the history of the year
now passing away that alb must have seen, and
drawn their differences from. The great European
war is staring and significant fact too deeply i'm
portant to be ignored, even by those who have no
Immediate connection with it. Blessed with peace,
and with wisdom enough 10 let other people fight
their own battles without involving ourselves in en-
tangling alliances futile sacrifices, the United
States still feel the effects of the terrible struggle
We feel it here in the depression of our leading
pies, and in the Brightness" which is the inevitable
result of such state of things To US peace is de-
sirable only less than to the actual combatants.
Taking out of account the terrible waste of human
life, from which the Christian and phanthropist
must shrink with horror, the waste of capital, and
its diversion from The channels of commerce and
peaceful enterprise, is matter deeply 10 be deplored
by the statesman and the merchant Allied by in
terest the world Isl the loss diversion OF the
capital of any of its separate communities is felt by
all as so much distracted from the common fund
And this war, has so far been fruitess of results,
save in the way of mutual exhaustion and distress.
The rumors of peace with which the year closes may
amount 10 nothing. We think that they will even
tuate in nothing, for the present. but the eagerness
with which they are caught up, shows the general
longing for peace pervading the public mind of Eu-
rope, and we may add, of America.
How 10 classify the year with reference to the ex-
perience of our own land, will be found somewhat
difficult. 1t has not been year of disaster, but
neither it be regarded as of positive pros
perity. There has been no actual " crisis, but lei
Their has there been any hearty buoyancy. The
tendency of nothing has been upwards, if we except
the cost of living. AS general thing, real estate,
whether in private hands represented by sock in
public works, bears lower money value than it did
year or two ago The European war has, no
doubt, had much to do with this, by Fastening the
inevitable reaction which must sooner or later, have
followed the undue expansion of the credit system,
and the inflated values consequent upon such undue
expansion.
There is little or no question that, people, we
have gone it with rather too much of rush-that we
have bought ahead of our available means of pay
ment-that we have lived in leetle bigger style than
cautious prudence would have dictated-that the ri
vaship in building fine houses, and doing other fine
things, has carried many out of their depths, and
that pressure must have with settling day.
No doubt, circumstances have brought that day on
sooner than it would otherwise have come but the
thing has been merely matter of time and, upon
the whole We cannot see but it is as we'll at
later period. Some people think have not seen
the worst yet We think differently, that is. if the
lesson of the times be improved If this be the case,
think that the coming year will place US on the
ascending scale of more healthy progress.
Politically the year has been one of isms-of ex-
periments-of professions and notions, and pretty
kettle of fish has been made Of ii. The year goes
out and no Speaker. But healthier tone is among
the people Drfted out on the wild sea of excite
ment they turn again to the old land -marks-to the
safe and time honored principles of the government
and the man who has stood and who now stands
foremost by those principles will find that be
has acted well, and also wisely. The people are
tired of isms and pretensions and squabblngs. The
Democratic convention at Cincinnati has plain
course before it. 1t must take high ground-the
higher the better The more totally regardless OF
temporary exctements, or temporary expedents the
better the more broadly boldly, nationally Demo
cratic, the better. Fling that banner once to
the breeze and there will be found safety in lis ev.
cry fold.
Tho