The Council Bluffs nonpareil. [volume] (Council Bluffs [Iowa]) 1857-1867, 1857-10-17

HE NUM- Is
W. ". MAYNARD. IAlss~.
COUNCIL BLUFFS i
SATURDAY, So: OCTOBER II, 1857.
Msasmry-TAs Prospect.
1t is very generally conceded, that this
country was never before in 50 prosperoas
a condition ss at the present time, and
vet never before was itso fearfully menaced
with direful calamity. Every branch Of
industry has been crowned with remunera-
tive success-there 10 more money in the
country than ever before-there is an abund-
ancc Of energy and everything that is requir-
cd to make business move on in its usual
course, except confidence in business and
mcu.i Why, then, are We threatened with
general bankruptcy and imminent ruinS-
Has there been any real cause for the panic
that is now ragings We opinc not. 1t has
been brought about by senseless runs upon
Banks and individuals, BY INSCRIPTIONS
speculators. The effect has been to destroy
all confidence in monetary circles, and as a
consequence, the arrangement OF all species
Of business. Had it not been for these
scnsclcss runs, many, banking institutions
and business houses that are now numbered
among the settings that wcre," would have
pursued the even tenor Of their way, doinga
prosperous business, and inspiring confidence
in all matters pertaining to the general man.
agemcnt Of trade. That the country is in q
prosperous condition, there are none so
fool. hardy as to gainsay. Even the n. Y.
Herald, that most virulent enemy OF public
credit, is satisfied that the assets Of the
four hundred firms which have failed during
the past month, would cover their Liabilities
All that is wanted, therefore, to restore bu-
sincss to its former equilibrium, is general
belief in our solvency, and as sequence,
univ ersal confidence. The press OF the
country and business men generally, are oil
the opinion that the panic is over. This
may be true, and we hope it is, but the
smoke Of the carnage has not yet disap-
psared, and we cannot yet see the way clear
for an immediate recovery from the con-
fractions and arrangements caused BY
tho reyulsion that has taken place. I'd e..s
It il generally believed that the worst is
over. and that from this time forward, there
will be decided and general Improvement
in monetary affairs. The signs of the times
indicate as much, and We are glad to note
that the eastern world is beginning to breathe
free and easy comparatively, but it will be
sometime before the arrangements IN our
currency will be restored to anything like
clearncss. Money is tight Mt home ana
abroad, and will continue so for some time
to come. With the restoration OF cohn-
dsuce abroad, the times will become easier
at home, and from present appearances, We
NAV congratulate ourselves upon expert
encinp no harder times, though the money
market NAV continue close. We have ex-
nor;e,ced no serious disturbance here yet,
and we apprchend none. To the credit OF
our citizens, we must say, that they nave
exhibited u remar kable degree of confidence
and forbcarance, and to this course Is due
our present heal,hful condition, noswlth-
standing the stringency of the times, calcu-
lated to awaken suspicion, at least, rs 70
the solvency Of all concerns. All improve
ments projected, or under way prior to the
appcarance of the "panic comet" are be-
ing faithfully prosecuted to completion, as
though nothing unusual had happened
We believe and hope that all our business
men. will be able to weather the gale. The
Chicago Press, on this subject, says, the
first duty which the citizen owes to the
public at the present time, is the mainte-
nance of good courage and faithful ap-
plicston to his regular business pursuits
Wore each man to be guided by this rule,
our troubles would DO already more than
half conqured. There would be no tale
bearers on the street, no prophets Of disas-
ter haranguing at every corner, no crowds
exposed to the contasion Of fear. Herein,
everybody knows, lies our only true danger.
This community can pay all its debts anu
have an immense surplus remaining, with
half a chance given it. Our banks are am
ply able to redeem all their issues, pay their
depositors, and afford relief to the business
public, if men will only stay at home and
attend to their business. Nobody doubts
this who has any clear knowledge OF the
condition Of affairs. The notes OF warning
have not been UNDECIDED by these institutions,
and they were, perhaps, never before as
strong as they are to-day. Give them
clear field, and they would soon lift every
deserving man who now finds himself en-
barrasscd by the difficulties Of obtaining
money to meet his liabilities, up into the
sunshine of prosperity. Everybody knows
this is so, and knowing it, they ought to act
like rational men.
We appeal to the sterling good sense OF
our people. We urge them, by every con-
sideration of public good and private ad-
vantage, to be governed by private coun-
sells, to exercise at once the demon of panic
from our midst, to pursue steadfastly their
regular business, and to mark with the seal
of their scverest 'disapprobasion every man
and every net calculated to unsettle CONT
dence and precpitate financial disaster.
Cuts both Ways.
The Clarion compliments Judge STREET,
upon being candid man, and says, that in
h;s sneech last SATURDAY. che did not dis.