The weekly Portage sentinel. [volume] (Ravenna, Ohio) 1854-1861, 1857-10-15
Present Times not wholly Disns-
trOus.

Present Times not wholly Disas-
trOus. /
The great fuct Of last week is such an ut
ter annihilaiion OF credit as this city has nev-
er beheld since the times OF the War Of ln.
dependence, il then. In 1857, our banks
had concert OF action and faith in each other.
Now their utter failure to act in any concert
at crisis like the present has prostruted
confidence utterly, and far beyond what there
was any occasion for in The nature of ,hings.
There must be q reaction rapidly. Certified
checks on some banks will form at least a
city currency, with the double security Of the
bank and the firm, But in the meantime
there are several valuable lessons TO be learn.
ed, and the permanenee OF any beneficial re-
action depends entirely upon these les sons
making an immediate and lasting impress
sion. , ..... ..., ELL. ..r. ...... -.-tsr #.
A very large proportion Of men have, for
some time past, been living on visions OF
wealth; opium eating. They have been
able to get larger credit than ever before
in their lives, and therefore fOncied they were
getting richer, while daily making Them
selves larger debtors, and therefore poorer
Now the bubble has burs,ed, and tile vision
has vanished more suddenly and completely
through The whole community than ever was
knowa. Skep,icism all securities is as un.
due and excessive as the confidence has Tor.
merly been. Credit is wiped out, aud he
who owns most property, il he owes a tenth
of what he owns, is to day really poorer for
practical purposes than the man who owns
| the least. ...
There are stine things in regard TO which
| think ing TOO much is us disastrous as think
| ing too lttle-and one of these is mercantile
| affairs-the debts that he owes others and
that others owe him. Let him think of them
4 before lie makes them. But once in debt let
him go boldly and steadily through with as
little disturbance as possible, and beware Of
being frightened or frightening his neighbor,
or failing in anything which can disturb pre-.
sent relations,
These are (he times when just the same
qualities are needed among men Of business
that requisite to form good general in time
of war. All the virtues of the battle field
are here Gu lied into play, and all the effects
OF war, both for good and vii, are measure.
bly, Produced ON the exchange BY troubles like
; the present. .
1t is remarked by Allison, in his History o
Europe, that in long continued peace, there
is produced a relaxation of morals and cor.
ruption of manners in the highest degree in.
juri US to society. Effeminacy, luxury anc
2 fraud becume common. All this class OF vi
u ces we have seen increasing amongst u.
u rapidly within the last few years througI
:. Mercantile prosperity. Dreams Of Weatf
4 have been ndGlged, and every man ha.
d been walking il vain show. Fiaud ha:
= abounded. Bank presidents, and the direc
0 tors OF railway companies, BROKERS, and deal
= crs IN securities OF all kinds, have beguileC
= the public ond deceived themselves, aud fan
q cied they were making immense fortunes
y and many of them living lives OF fraud, prot
}, legacy and Corruption. ,...
q But, ss it has Been remarked that war, wit!
d all its h,rrors, sweeps away many OF Ties
r vices OF luxury and peuce, so, in battling wit
/ cOmmerclul difficulties now in play, we ma
u hUpe for the obliteration of mBny OF thes
y ,lces. Courage, sincerity, honor and com
II passion ire the very Qualities that Will b
t. called into action and restored to society
y the scourgihg Of the present candidates.
ef " e know, indeed, that the first e&hbtio
IS of character that will astonish everybod
y sill be the selishnesS and waHi of princ
'p pie in mutitudes who hahe appeared to stan
&c tair. Those who would be COW ards on th
u field of battle, will be towards in the Stor
e and in the counting rJom, paying only WIN
y thoy cannot help, and hotdng gold, pIayin
y all sorts of usurious praEks, trusting rob ID
.' md looking only at gold as the real good.-
", " But this will only make matters worse.
VI The men who will best succeed in the
:. j" times will be IN of courage, who will stru
~ :. gle to the last to pay every claim. Compu
" SION will also be mu h needed, tor there mu
III aud will be much suffering. And of al ii
T. coin munity, he will be the most deservil
= who C II find profitable. employment tor Il
III greatest Number OF workinl people Alb
IT. all things, let personal honor aud inlegrt
-. ~ be kept above suspicion by those who ha
i.e yet retained it. There is no loss 80 great
-, 20 injurious to society as the loss OF these
'u The word u an honest nan, his beari u Il
.s' his very look, will spire whofes me con
{" dehce when banks tail, and all securities q
PROSTATE. The reaI bankruptcy OF the cou
, try would be the bankruptcy o these ST. uu
at they dil.. Alas! they have already failed
nt' individual Cases ot nigh trust; but The gre
on mn 'r'ty OF cur people will rise from all the
troubles with tirmer convict N that" "righ
r. oasr"ss exaIteth nation."-- Miadetph
lis Ledger.