The Davenport daily gazette. [volume] (Davenport, Iowa) 1856-1869, 1857-10-26

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0SoAav moen1nG.. ......-Oes. -, lssy.
~ 10ea - eeeUoe - ~ eeoe@y'
That The financial times have been sadly
out ii JOINT during the lest two mouths, ev-
cry business man, indeed almost every men,
Der q - csnmSnity, con realize. But
that the worst b.. past, and public conf
dent u becoming in some degree slowly but
surely restored, We now have evidence
from the beat or most important coa.mer-
cial sources. The New York papers unite
in saying the crisis u over, but that busi-
ness is left dull and lanquid, and il will re-
quire some time to restore Il to ordinary
healthy vitality. The commercial body Of
the country hes been Frustrated BY disease
the crisis has passed. but It will be long
before perfect health can be restored. II is
useless ct this time to enter into sn inses-
tigsti0n of the os.sss III the serious financial
troublss which have resulted in 80 much evil,
although every newspaper has its iinan-
cisl metAphysician, who In his own way
and To his own apparent satisfaction, has full.
accounted Cor the evils under which We have
been suffering. Editors who have but =
faint idea Of what really composss the cur
rency Of their own neighborhood, utterly
ignorant Of the laws Of trade aud Of the
mutual dependence Of the markets and DIFF
ferent departments of business, and who
uske no pretence 10 m acquaintance with
political sconomy--havs suddenly become
Doctors Of Finance, slscidAts . diagnosis
Of this great monetary disease which Ia
gnawing 1t the utsls u the county, aud
suggest their remedies When We find the
shrewdest finAnciers and best political econo-
mists Of the country differing NJ widely
in their views of the causes u tho present
or recent panic, and suggsssing such oppo.
site recommendation Cor relief, We thisk
there ere questions the investigation u
which may better reward labor and though,
on our part than this.
But We are glad ~ announce that the
times are improving, public confidence !,
becoming gradually restored, and there II
light shsad. The American People ars u,
elastic in their energies, too determined !,
their sal, 70 long remain upon their back
under sny financial pressure. The pani'
hes stirred them up, till the whole oountr,
il like On aroused bss hive. Here and ther,
bubbles have burst, and men have faller
like rssds before storm, but the great "
gregaee maas u the people have been i'm
pellsd 70 remarkable activity, to the prac
tice a healthy ecooosny, and 70 the display
Of every sseeEy within the compass Of their
natures. This financial lssson will prove
useful TO The people Il will tosch them "a
place more reliance in themselves and less
in monsysd inssitutions and in those of their
fsllow-eisissas Who pass current ~ moneysd
men. IL will give them more faith in legit
inats business and les in speculation and
shove I'll, tsach them that economy is vir.
tue - well o the almighty dollar itself
A - People Il tells ~ plainly, whether We
heed the lesson or not, that hereafter w
must b more dspsndsnt upon ourselves, and
upon our own means II production and
manufacture, and lsa upon foreign countries
We mast produce more and manufacture
more, and buy lss from abroad. The Bank.
Themselves have learned . lessoa, which
England and France hong since presented Il
their consideration, that when = panic I,
threatsnsd, thsir policy Ia To ezpasd and no,
wkAe>~a. eh. ..s.S...t r.....
of the evils under which We have labored
the short-~ighted policy OF our banks Gre
ated out Of those evils the very panic o.
financial crisis they cndeavorsd to avoid
The banks Of England and France, II times
when they had just - much trouble ahead
- We feared two months ego, threw them
selves ia the breach, and stopped the ripen-
ing u the panic, BY expanding, not contract
ing . oar hanks have done. hut this il
imnsassriAl 20 our article.
Ths cosatry was mover really In better
condition physically than 1t present; aud Il
shows thers 10 sonsthiag wrsag in the
financial condition u the times and the peo-
pie, that with the most sbuDdant crops, and
the gssasest crov with which our country
Aas ever Lssn bleas<d, . perfect frsedom
from oil rasagiag epidemics, snd with peace
NJ hnsss and complete harmony with foreign
powers, such panic - that we have just
passed should grasp our throats unawares,
and choke the lie fsoa pase II oar hest
enterprises, most important manufacture,
ssroagsst hawking institutions, aud apparent
~ safsst baainsss Asms but the country
y I'll right. Every Asld has just yielded iss
goadsa harvest. Osr gsanAsiss are over
howihg. 0sassAl Asaleh prevails. Peacs
reigns at hoas and crowns our connections
ahrsad. Tie psopls ars ~ crushed. They
ere alive nd wids swshs, and sagsr 10 make
w fae ~ losass. Capital h flowing In
upon ~ iron sbreed. Public confidence y
daily gsswiag better. Our grain markets
sre bsginaiag - stir. What then can Gun
sinss IT, svils under which " have lately
% severely suGerrdl We ~ the skies are
alrsa1Ay hsighesaing. There y soehiag in
tAs void 70 cause discou,gensnt. The
tinsa, sAs psop,s and the country will soon
- sajoyiag ell shsir original prosperity.
81 To Burlington Gazette is vastly
Outraged q ~ idss u several merchants
N Dsvsaeast iassiag shispisassss Sor snAll
change, and hopas thss Burlington may
never BE- curssd In this manner. And yet
Basliagtoa long time sgo, and before any
aaAncial crisis outaide oC her own Corpora
tioa justified il, issasd "city scrip" and it
y now circulating freely among her citizens.
What = eAis but shiuplassers- -corporafse. |
shinplasssn Davenport hes refused 10 |
"curssr hersslf in any similar manner.
FvssD.-Ths Dubuqus Rspstisca. oatcs
has been merged into the 7ribs.s, by the
purchase Of the former BY the proprietor VI
shs latter. This 10 good move, and Will
result u the benefit of the Republican
party. The Republican, Of Dubuque would
u beetsr a with one Thorough -eo,nv organ