The Kanzas news., 1857-10-31
By p. B. PLUMB.

CONFUSION and trouble with unfelgned
amazement, as reckless, needless, wanton
icowardiee. The business men of this
country at this hour are suffering from a
contagious cowardice ! The whole CONT
nent is unstrung by nothing but fear
Nothing, say; for that of which speak
by-and-by, and which is the ultimate cause
of this iniquitous evil, was not of any such
proportions of power as to justify any such
breadth of effect: and fear has been added
to real trouble In such unwarrantable pro-
portions that it is scarcely immoderate to
say that We are all lightning struck with
fear.
And the cure, if it could be taken, might
be eHectual in one day, as much as in a
month or year. Hope and trust to-mor-
row would set the blood going again, and
bring color to white faces. For the mis-
chief is not in the business, but in the bust
ness men-it is not in your affairs, but in
you.
The country is like ship under a stiff
gale in rolling sea; in the watch of night
the man at the wheel and the watch think
they see ghost and abandoning their post,
they run gibbering and tumbling headlong
down the batchway. The ship falls off
and rolls in the trough of the sea, until if
some one does not help her, she will roll
her masts out, or come upon her beam ends.
But if there be heart of oak among them
that can cure these frightened sailors with
the thunder of imperious scorn and indig-
nation-if they will 60 again upon duty,
seize the wheel, set the sail, and bring the
ship out of her wallowing to her course
again, all will be well And speak my
honest conviction when I say, that all
which the country wants just now is manli-
ness.
Your banks can't cure you. The gov
eminent can't cure you. l come to your
bedside and feel the pulse, and pronounce
the patient to be in a prostrated condition,
from causeless excitement of fear, and my
prescription is-let there be MEN for nurses,
and give them large doses of courage, to
take every hour until the blood comes to
the skin, and the patient can use his feet
Then turn him out, and say, rise up, walk
and work.
Mr.. Beecher proceeds to point out the
causes which have brought about the panic.
These are, in his opinion-stock gambling
and want of moral integrity in boards of
directors. He ought to have added the at
tack of certain journalists upon both public
and private credit. On the lack of moral
integrity, and the necessity for it as an ele-
ment of financial permanency, Mr.. Beecher
remarks
A relaxation of moral integrity, and
special development of it in connection
with the management of stocks, and the
vast interests which they represent, have
introduced an element of profigacy and
untrustwortbiness, which threatens 70 move
the foundations of trust of man in man.
Ind unless there can be the infusion Of NOR
al integrity in the transactions Of business
men IN tie immense interests represented an
markets by stocks, unless these ssoanaps can
be drained, and highs0ay Of moral integ-
rity be cast up for them to aCalk on through
the poisonous gro,gfhs of this forest, the
land aOiU suffer season by season aOith mala
ria-and commerce WiU neUer be free from
chilis and fevers until tonics are used. The
conscience of stock dealers needs 'quinine!'
The board of directors, in our greatest
enterprises of this kind, railroads, have per-
mitted themselves to employ their power
for selfish ends, by unscrupulous methods.
believe myself to be strictly justified when
I say that the revelations of the last ten
years show that, in the management of
these great and useful corporations. our
most eminent business men have not scru
pied to do or to wink and connive at courses
of conduct which involve, directly or indi-
rectly, almost every crime against property
known to our laws. I aver my solemn be-
lief that business men, banded together, and
acting as boards of direction, having pur-
sued methods which, if single man in his
private capacity should pursue, would con-
yict him irredeemably of crime, and crush
him with ignominious punishment.
Of the sin of stock gambling he has this
to say-(L Let the reader bear in mind that
it is equally applicable to the sin of gam
bling in grain):
There is no more sin in buying and sell
ing stock than in buying or selling bank
bills, or any species of property. But it is
one thing to buy and sell legitimately, and
another to buy and sell as gamblers do.
Many honorable men pursue an honorable
business in the brokerage of stocks. But
it is quite notorious that millions and thou
sands of millions of dollars of stocks are
sold every month under the lawful form of
the stock brokers' exchange, which can be
shown to differ in no moral or material as
pect from undisguised gambling. 1t is not
necessary to enter minutely into the distinc
tons between right and wrong in buying or
selling of stocks.
1t is enough to say, that he who buys
stock as bona fde method of investing
his funds. looking for dividends, or for
some benefit from the interest represented
by the stocks, buys legitimately and with
out moral blame. But that whole scheme
of buying stocks for no other purpose than
to make money upon the bet that they will
rise or that they viii fail, is a scheme of
gambling Men that do it are gamblers
ALI the soft names on earth cannot be dis
solved to make yarnish strong enough to
cover the real wickedness. Men viii resent
the imputation. No man likes to be called
a 1.a-. Il --a.- a a.-1.:I Al. IL