American union. [volume] (Morgantown, Va. [W. Va.]) 1855-1859, 1857-10-30

as today, in men, women and children,
cultivated land, good roads, of earth,
wood, stone, and iron, in ships, houses,
shops, factories, tools, the useful met
ais, and minerals, never so we'll suppli-
ed with food, clothes, furniture, carri-
ages, schools, books, and all manner of
things for use and beauty. 'a '
Yet, in spite of all this general abun-
Dance there is great crisis in the mon
ey market; there is distress in all COM
mercal circles, from Maine to Louisiana.
All the departments of commerce and
business are disturbed. Money, which
Is commonly worth from six to eight
per cent. a year, is now hard to get at
twenty-four per cent. Men pay a
famine price for gold and silver. Hou-
ses OF the first responsibility fail, or
else suspend payment for time, loav.
ing others to pay. Men of handsome
estates, even of great fortune, find that
their property is all gone. In whole
cities, in whole States, banks suspend
specie payments-violate their con-
tracts, solemnly made, and pay in pro-
misses to pay-not in certificates of
property, but certificates of debt. Mills
shut down their gates, and men are
turned out of employment by the hun
dred or thousand, with the prospect of
immediate idlencss, and remote hun.
ger. r.. T.
Money lenders, who are always dip.
ping into the stream of commerce, and
ladling out what thence they may, now
refuse to lend on any terms, on what
was once considered the best security.
Our own city's ''promise to pay" fails
to command the needed coin. What
is the cause of this trouble? lie should
very i'll discharge his duty as a philoso-
phic thinker, and teacher of religion
II he did not try to point it out. 1t
Was true he was not a business man,
but for many years he had studied the
history of commerce, and, living a.
mong trading men, he had had his eyes
open to what they did, thought, suffer
ed and felt. He did not, however, pre-
tend to speak with authority. Com.
monty, in his teachings, he could say,
"I hnoso this is true" To-day he
could only say, "Ithink this is true. "
10 understand this present CONNER
clal trouble, and be prepared to mako
use OF its consequences, it was necessa-
ry to look deeper than the surface at
some things. which lie great way of
and fur down. All mans conscious
activity was at first an experiment.
an undertaking-of which the result is
not known until after the trial All
experiment is liable to mistake. There
are many ways of doing thing, but
only one way of doing it best; and it
is not likely that every individual Of
the human race will hit the right way
the first time trying. What succeeds
we keep, and it becomes the habit OF
mankind. He took it. All the expe.
rlments ever made, however ruinous tc
the individual man, have to the human
race been worth all they cost, and il
was not possible for the human race tc
to have learned at u cheaper school
thar that dear one which experience
has taught. . ...'
In the military period of mans his.
tory, war was the chief business. The
great families were founded by "sons
of thunder," and kept up by war. The
great estates were got by robbery
aristocracy was died blood.rcd. Now
all this is passing away. The military
period IS giving place to the industrial.
Germany, France, aud England, are
the European leaders in this industri
civilization; but they keep the old ii.
ties baron, lord, duke. Here we have
an industrial democracy. The dollar,
not the sword, is the badge of aristoc-
racy. Great families are founded by
trade; great estates are got by buying
and selling; and social rank common.
~ depends on money, the only be.
qucathablc excellence. Nobody asks /:
What ancestors have you got in the
grave & but, what money in your
vault; what houses, lands, stock g.
HENCE, property is sought, not only
tor the comfort and luxury which it
brings, but also for the social distinc.
ton which it confers. 1t takes the
place OF all the virtues. 1t is in Amer.
lean society what "imputcd righteous
ness is in the church--the social sal.
vatlon OF man. Titles are nothing. 49,.
No American Mr.. Macaulay would
care to be made baron, lord or duke.
Every penny-a-liher from Maine ia
Nicaragua would laugh at him. Money
is here what title is in England
patent OF nobility, 1t can ennoble
ioois, and sots, and cowards." So il
is the only object Of American desire.
VI course, all men are eager to get it,
and SO rush into trade, the fayorite
\ hII1innuo ,.E N.