The Nevada journal., 1857-06-05
gsbaaa yaurnal.
Friday Morning, } une 5th.,
The Depression in Trade.

The causes OF the apparent decline OF
business is, perhaps not plain and OBJ
vious, but the fact Is patent that every
day is apparently bringing afairs to a
fearful crisis. Hard times are not alone
confined TO this city and section Of coun-
try round about, orllocal causes might
be plausibly assigned sufficient to satisfy
ourselves for the present and permit
stray hope for the futlire. But falling
off in almost all kinds Of trade is a COM
plant common to the State.
1t is useless longer to hold cut fatter-
ing tales of the good time coming. We
have arrived atthat point where it will
not do to hug delusive hope. The
time has arrived when wise men must
look about them for remedy to evils.
the whole body polite severely feels
to-day, but is suffering but foretaste of
what Is in store. Prudent men, if they
cannot devise means of checking the
downward tendency of things, can, at
least, eight up the candles of econ
my" The commercial world under
went a reyulsion twenty years ago,
which shooksociety from foundation to
frieze- from the honest laborer to the
ornamental man of kids. We under
took TO show, more than eighteen months
ago from facts and figures glaring upon
the sign posts of passing events, that
unless change of policy were resolved
on, sooner or later, a crash would inev-
itably ensue to which the commercial
revnlsion of '37 could not compare
The present tightness in the money
market, and decay of business every
where, mark the time as too imminent
ly near.
Doubtless the edge of the impending
doom may be turned aside by the time
ly application of wise expedients, but
what these expedients are to be, who
is 10 move in the matter, and how, is yet
to be determined if at all
1t must be obvious to every observer,
that life has comparatively fed our busi-
ness streets, where once was hustle and
the din of trade. He who has given at
tention to the laws which govern a
country's progress, could have hazarded
little in predicting years ago the fate
that seems ready to befall us, even now
casting its black shadows before. The
prosperity of State depends upon the
fostering of varied and productive in
Ndustry by a judicious use af capital, and
such capital must be employed harmo-
NOUS and Commensurate with the mus
cular wealth of the State. Such has
never been the case in California. The
first corners drew from the resources of
our mines with but a slight investment
even of muscular capital. The first
placers yielded quickly, and the crop
sought a market east. Golden capital
came at the bidding Of brawny arms,
and often left at the impulse of braw-
ny legs. Wealth was created in untold
millions but left the State at the earliest
moment. Nine tenths of our popula
ton have striyen to see which could
skin the country of the most in the
shortest space of time. In process of
time the shallow diggins were compare
lively exhausted, and the true enter
prise of the country, about to tempt the
hills, found itself cramped for necessa-
ry capital. The credit system received
its heaviest drafts in consequence, and
years have not been able to square the
books. 1t is true that the country, than
which none in the world ought to have
more spare capital, is without the cash
to carry on its absolutely necessary
trade, and besides is headlong in debt
:. It is downright folly to wait and de-
pend upon the introduction of water.
improvements in mining, such as the
use of hydraulics, have robbed thousand
of miners of employment, and the COM
pletion of new water courses will inure
to the benefit of but portion of that
class whatever, it may do to the State
at large. Mining is fast getting under
the control Of men of means, and per-
haps to-day there are as many miners
in this country working for hire as for
themselves. Instead of hanging upon
vague hope Of coming prospects, a
large share of our population should
turn their attention to other pursuits.
Unfortunately there is little encourage
ment. Capital is not found among
those who have long fed on hopes of
better times, and the cleaners and alb