Marshall County Democrat. (Plymouth, Ind.) 1855-1859, 1857-12-03
rom the CINCINNATI EnQu
The Panic kigasieG.

1t is an old adage that the darkest hour
is just before day. 30 1t has proved in
this period of monetary disaster. Until
within the last few days there has been 10
prospect of clearing up in the commercial
sky. Dark was the aspect all ever our
land, while depression OF spirits among
business men, and a want OF confidence,
caused by the appearance Of bankruptcy
where it was least expected, combined TO
make matters worse than they really were
But now there is every reas III for believ-
ing tina, the crisis is over in our monetary
fever The national pulse beats stronger
and firmer. Hard money the sovereign
remedy for hard times, has been admins
tered to our people unit! they begin TO feel
its reviying effects. There is magnetic
power in metallic currency which restores
depressed trade, gives an impulse to sus-
pended commerce, and strengthens weak
backed currency. Government has dis
bursed lis bullion with free hand The
sub-treasury, our bulwark of national cred
it, has paid out gold and silver to the
amount of more than nine millions Of dol
lars in three months. Europe has sent
back large sums of our specie which we
paid her for luxures when in the full en-
joyment of our shinplaster prosperity. And
our only reliable banks, the gold fields of
California, have supplied the treasure
which has i'll turn supplied that confidence
which worthless paper currency had
nearly destroyed.
Therefore, when sulficiency of hard
money had been taken, in large doses, the
signs of a healthy condition began to APP
pear. Our national fever caused by too
free use of paper money, has been check
ed by the strong portions of gold and silver.
This is a simple statement of the case
This crisis is over Good news comes
from all parts Of the Union. Banks (the
best of them )are resuming specie payment.
Trade is reviving, and there is prospect
that ships viii no longer remain idle at
their wharves. There is more specie in
the vaults of the New York banks a. this
time than on any previous occasion in
their history. The discount-houses have
commenced granting loans to their custom
ers, and country merchants begin to pay
their debts. There is no doubt but the
darkest hour is over and better times are at
hand for all classes. One-half the strin-
gency which existed was the work of note
shavers, brokers and money lenders, who
were glad TO keep upa panic SO long as
they could make rich harvest by the OPP
Grafton.
Tie storm which has passed over our
NEUTRALITY-SUSPICIOUS. it is true-wiIl leave
purer and better atmosphere. and, in the
end, prove a great benefit Many worth
less firms and rotten concerns have been
forced to the wall, and hundreds Of unsea
worthy crafts are ingulfed in the Of
bankruptcy. We have had notorious in
stances in our midst-although Cincinnati
has maintained her mercantile credit most
nobly all through this stringent period
And now, that we have sesn the worst,
and come forth from the miseries Of hard
times and bankruptcy, shall we not, rs in
dividuals and as a people, take warning
against overtrading, extravaganza, debt.
banks and brokers? Hard has been our
experience-bcught at the sacrifice of
peace and ploperty--and shall 1t not ba
needed? Now, that brighter days have
dawned let us all resolve 10 work more and
talk less: earn our money and take care of
it; establish gold and silver currency and
keep away understanding debt and de-
lusions of paper money. Thus shall we
be saved from the fluctuations of hard
times which come upon us like a curse,
blasting enterprise and turning our pros
poets into want.