The Cadiz Democratic sentinel. [volume] (Cadiz, Ohio) 1854-1864, 1857-11-11
Ohio REerei,fsmts...s.-
J, have tqkenfome obserYsti0Hsgotqthe

we nave taNen soiaef o0serY ati9HS % 1tfletH-
nancial condition ofoT own meTchnnts IN Ohio
and from the best Information we can procure
are satisfied that as general thing they. stand
to-day 6rmer than those Of any other Shsee issls
the Union with less debts due NOES Stady5.
money and less embarrassment In Neg YoFkxt
the Jobbsrs aud Importers say thats' the OhbO-r
Merchants ask fewer f1Eors cf extension, atitf =
long time on bills, and possess capital 1efgo6dos
credit not elpaled by those efeitheT saOpeaEas. Z
tern or more Western Statesf This il q sub
lJect Of great c0ngratulation. It was. exp esed
that large number of Cincinnati, ACie aefand =
and country merchants would 60 upitw4sil1thSsS
general host of exploded speculatorss Ii tlrs;sF
we have been happily Disappointed. The res
ported failures in Ohio have been few and far
between. Here and there a merchant has been :
wrecked by adverse circumstances, bat we have !
hardly an instance which can be attributed. Is
the peculiar pressure and panic of the aay.-~se
When so striking and creditable an exception
to the fate ofcommsreial communities s'con-
spcuous, we naturally look for some reasohlio 81
the better fortune or better SUCCESS of oar Ohio "a
Merchants.
In those States where the greatest banking )
facilities have been extended TO the merchants,
the failures have been most numerous and dis -
astrous. This is particularly trueof New YoHlS e
city, where the merchants as body, use thu
banks more than in any other spot in the world.
Easy facilities for borrowing are at every nerl =
chants back and the consequence 4 is athat the
merchant witha capt9llof $4,000 0poupeauposa4T
a continual use Of $4,000 Of bank discount and. =
loan The imitation Of trade is In This ratio and
wherever these temptations have seduced thu
trade, the contraction has ruitIej hint! Howia
it in Ohio? The Banking capital Of Ohio lias Z
been Tar from being as large in proportion toth3
wealth, business and population Of the Stash 81
that Of any otIsrt5tate IN tf1ess niou~ In MI
these respects tho State ranks third sAs tie Iag .
otthe States. In its banking capital it has but
about seven millions, while no other Stata Svie1
one third Its business has less than that amount.
Even Indiana has greater bank capital with
less than third our people commerce and man
u6eturss. The result is, that tie Ohio BfeT,s
ehanthas not leanedupon, broken reed blss !
believing the gods help those that help tep.- <
selves, has been prudent, careful and free from !
extended liability. No one can doubt That tIit:s
happyan healthfa coadition.is'a 4 solid adyarl- Y
tage in these timessi There are Ilailroad stocks. Il
and other property in Qhio, the values of,BiGeAe
have been inordinately inflated by. speculation
encouraged and assisted BY Banks The crash
has now fallen severely upon their owners 7as
Ia Cincinnati SFhera there is not howva siilAIs 4
gle bank ofisSue the people are sngularIy fartu-
nate. Having ofcolrse, larger circulation 81.
specie, because paper money did not drive tin
to bank vaults, the money is now 4compafative- ~
" plentiful and easy. Here too out OF several NJ
hundred merchants, very few failures, not al half Nt
dozen in all have occurred ~
There are great lessons offlnaneial economy
TO be learned from these and other fcts sSAF0 -
day coming to light. The paper money which, -
Iereates fictitious values and the bank loans {
which create false bottoms for the business man :
are fatal to the steady prosperity ofthe country
The credit system is the bane of Commerce, and y
its benefits cannot butbe accompanied by abu- =
scs which parlyse and destroy legitimate enter =
prise and progress I2ainaealer. ...f. Z 4