The weekly Portage sentinel. [volume] (Ravenna, Ohio) 1854-1861, 1857-11-12

the terrible pressure is accounted for.
Some of the Old line Wigs, after ,ng
and deep study, have decided that it was tor
the want Of high protective tariff. They
say that the specie has all been drawn rom
the country. This is why the bst - have
faiIed-why the merchants and Ga mess
men Of the cities have failed. TEcy forget
that it is the duiy Of banks TO live up to the
requirements of their charters, and koop on
hand a certain dnd specific amount Ut gold
and silver prop5riiOned to their circl lion.
These failures are an argument against the
banks, and mol against cur foreign cem
fnerce.
Other Of the Old line Wings hold That
the cause Of the fixtures is the want OF
United States Bank, Thus they would re-
vive that worn out question which has been
dismissed and settled By the people'years
ago. To cure one evil they would intro.
duce another more gigantic and disastrous.
Others caim that the panic has grown
out of moral causes enti,ely. The. want Of
truthruness, fairness and integrity in busi
ness dealing; the universal desire for wealth,
over leaping, as it does, all the wGrnings'o OF
conscience, all the barriers of principle,
and all the regard for the rights ind inter-
ests of our neiglIbors; or, in other words,
the avarice of the people is the rock upon
which their barks have stranded. They
point to the mad speculation in western
land-the visionary schemes of thousands
who are making haste 10 be rich. The
present generation is rot content to gam
/ large possessions in the plain, slow ard Ia
borious path which was troddcn by their
| fathers. There is some truth in this, and
wise men may profit by contemplating the
headIong rush Of our people after wealth
and supremacy.
In sermon, the other day, we heard the
the preacher assign as the chief cause of the
panic, the existence of slavery! He stated
that the President was perpetuating and sus'
, staining slavery by every means in his pow.
er-that the United States Supreme Cou t
on account of the covetousncsS OF itsaiudges
lad legalized and sanctioned slavery. Many
other false and ridiculoas statements were
made of similar nature, and these were as
, fsigned as one of the important causes OF the
money crisis. The premises were strange
t and strangely stated, ard the coscMsIon, a
least, doubtful. ii etavery is the cause o
the money panic, why has it come upon u
, Just al this fime; and why is the panic
greater in the free states than in the slave
states; and why has it extended TO Eng lard
Prussia and France!
We are not in favor Of slavery by any
J means; but we may, perhaps, be permitted
D to make suggestion to some of the Free
dom Shyiekers. 1t is this: In the North
= among the free states, thousands and tens
r OF thousands of free laborers are thrown ou
OF employment to shiver, and s,orVe and die
] No one feeds, or clothes or cares for them
J In the South, the slave is kept and clothed
and fed and cared for by his master, just u'
r much and as we'll during a monetary crisi
as during time of plenty In the North
t hundreds starve in consequence OF the pres
$ sure of the times; in the South, the slave
8 will hardly know there has been any sucl
t thing as money crisis.
Another cause assigned for the panic i
the universal extravaganza of the people
tOld and young, rich and poor, oil strive fo
pre.emnence in the race Of Glshion. The
!, gentlemen charge The ladies with extTava
: gance, and the ladies retort upon the gentle
f men with the same charge; and verify, thel
8 are both right. Each one should pluck tn
n beam from his own eye, before he can Sc
s clearly to Ptck the mote from his brothers
] During the year 1857, we have importe
8 thirty one and quarter million Of dollar
? worth Of dress silks; six and a third million
1 for silks and embroideiies; more than tw
and half millions in shawls; over a mil
lion and third in gloves; five-sixths of
. million in furs; the same in jewelry, mil
e lion and one third in silk and worsted piec
/ goods, and forty odd thousand dollars 70
: perfumed soap. Besides this, twenty o
e thirty thousand American women 60 abroa
e annually, and smuggle home with then
t probably million dollars worth.
=. But look at the gentlemnn's side OF tn
u question. During the same time, we i'm
ported four millions of dollars worth Of ci
gars; seven millions worth in wine an
spirits, and an immense amount in tn
shape of French cloths and other articles
: all entirely unnecessary to the use of plaiI
; men of business and prudence, and entrel.
incompatible with the old fashioned ideas 0
:. our fathers. Look further. Our unneces
sary expenditures are not confined TO impor
'r ted articles. We build houses fit for princes
= and which cost four times as much as tn
ID comfort, convenience and elegance o. GU
ct families require. This is SO, particularl
l. in large cities. Men toll, and sweat, an
y wear themselves away, in order to make
show. We drive fast horses, and feast oul
selves with expensive public amusements
The age and country are fast-too fast, u
together. From the amount ami n'ually e1
pended for food, clothing, houses, horse
: etc., ETC., BY the Americans, if we were
J.,h. - al ony,o uhat ia rponirad in seem