Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1857-10-22

and although compelled to feel money crisis
peryading the North, we believe that the only IN
convenience will be momentary suspension OF
the sale of produce. If creditors will only use
reasonable indulgence until England can send us
the specie for our cotton, trade will soon revive
and cheerful contentment diffuse its genial intiu'
ence throughout the country We have not specu
lated on such gigantic scale as our abolition
brethren. 1t is no wonder they now feel the fl
nancial crisis, after spending so much in African
Colonization schemes, under ground railroads, and
other benevolent humbugs. On the comparative
solvency of the two sections that able Southern
Rights journal, the South, remarks:
"We have learned from Philosopher Greedy that
the hay of the North was worth more than the
cotton Of the South, and that the introduction of
fax, under patent of manufacture in which hc
was interested, would soon supersedc the use OF
cotton. We can now ask where are the boased
resources of the North? Why does she not e1
mort clocks and shoes and relieve herself? Why
does she not send out few cargocs Of hay and
replenish her Golfers exhausted of specie.
The present crisis will show that the stare Mbor
staples Of the South will furnish the means of ex-
tricaton from commercial Indebtedness. 1t will
show the South comparatively free from distress
ar embarressment-able to ride out the storm
which the speculation of the North has caused
How then can the North censure that labor to
which she will owe her commercial existence!-
How can she prate of her independence when, but
for the aid of Southern resources, she would
stand branded bankrupt before the world This
financial revulsion, filling her land with beggary
and shame, will teach the North lesson OF com
mercial morality. 1t may cause her men OF
capital, and her disbandcd aborng thousands,
now contemplating an approaching winter with
terror, to recol from that chasm of disunion into
which such advisers and such arguments as we
have referred to would drive her, with indignation
and horror.
This cup of humiliation, bitter though it may
be, will be thus made sautary. 1t will save the
South from much persecution. 1t will prolong-
perhaps rather, perpctuate-the duration of the
| Union, By awakening the dictates of common
sense if not the impulses Of sectional gratitude.
We wish, therefore, the lessons of this financial
trial to be perfectly apparent, and will for that
purpose endure our share of its evils until they
correct themselves by the reaction of International
energies and the restoration of economy and pru-
dence. But whilst we are ready to cooperate In
any legitimate political or commercial measures
which may alleviate the pressurein any part of the
RepuDIC, we must uSSuTc OuI huoW '4NolHiHS
friends that we never felt less inclined to surren-
der our Free Trade principles and convictions for
the benefit Of the Freesoil shoemakers Of Massa-
chusetts than at present"
We can have no adequate idea of the reckless
ness of the Northern spectators. New York
paper relates the following instance of the Ira
matte rapidity, with which Fortune sometimes re-
verses her favors:
ga few months since the partner Of CONNER
cial house in that city was taken to lunatic asy-
lum, utterly deranged, as was said, by his unpar
alleled prosperity in business. During the year
previous his firm had cleared Sl,300,0G0. He
died in the asylum, and his own estate was valued
at 50, 500 900, all invested in the concern of which
he was a partner. The firm itself failed the other
day, and is now said to be utterly insolvent. One
item of the assets of the deceased's estate was
thousand shares of the Illinois Central Railroad
stock which was selling at the time of his decease
Mt S140 share, and which was worth, after pay
ing up the installments, Ss00,000 The same
property sold, on Monday last, at public sale, at
S50,000. All this occurred within eighteen
months-the prosperity, the insanity, the decease
and the insolvency"
These sudden reversions ore said to be the only
lu1uries in which the Miss FLORA McFLIMsIEs can
indulge. The piquant correspondent of the Char
lesion Courier very ungalanty talks in the follow
ing strain:
s'And, it is said the genter sex are having their
pleasures well as their pains, during these try
ing times Mrs. A., whose husband could not af-
ford to sell his house Eighth street. and build
palace on the Fifth Avenue, always felt despcnd
ingly jealous of Mrs. D. (when her name was
mentioned) whose husband did advance from that
pleasant locality, to the more fashionable one a.
bove mentioned. But now the husband of Mrs.
B. has failed, he has "smashed" badly, and she
has to "come down" both literally and fgurative-
ly The little strifes, the sweet revenges of social
and fashionable fe are just now the greatest lux
uries in female circles. There is not disaster
now, the crash of q once prominent house, at
whose fall there are not suppressed whispers Of
delight by the mothers and daughters of one side,
rejoicing that the starch of so and SOS stiffness is
now completely taken out at one avalanche Such
is one phase of human nature among the softer
SEX"
While we are not forced to the wall with the
same headlong velocity with which the money
kings at the North are precipitated from their
paatial splendor, it cannot be disguised that our
own affairs are beginning to look decidedly "bue."
Complicated and interviewer as our business is
with the Northern cities, we must either await
their extricaton from their crushing difficulties,
or find an outlet in q direct trade with Europe
If there is energy enough left in the South to
make the exerton, the present is the most favor
able season for inaugurating q direct trade with
England. Our currency is not so disordered but
that commerce would 60 on prosperously if there
was an outlet beyond Charleston. Some Of our
Banks have not suspended. The Bank of Char
lesion pledges itself to continue specie payment.
The bills of the suspended banks are as good as
ever. The very moment commerce, under the
pressure of on European demand, begins to re-
vive, our banks will be on their feet again. The
present crisis will prove salutary lesson to them
in the future. We have not the least doubt but
that they have not restricted themselves to
legitimate banking business. On this point
writer in the South Carolinian meets our views:
"The system of banking, which really allows
the corporators interest on their notes, and which
may be issued to the amount of three times their
capital, would seem to furnish profit sufficient
to satisfy reasonable men. Formerly, good hon
est men in Charleston were satisfied with semi
annual dividends of three per cent on their stock
In Columbia, when that well-arranged bank, "The
Commercial" was able to declare dividend