The Caledonian. [volume] (St. Johnsbury, Vt.) 1837-1867, 1857-10-10
Tho Times.

The country is To-" passing a commercial
crisis. The pressure il the money market
which. & few weeks age. Was fit Only iii tie
cities and large commercial towns, is row llt
i'll every State and Count! a TIC Union. Il
is impossible th&: ;lcrc s.lruld be disease 1t
tie heart ui;ho,,, netting the arteries and
veins and so j, i Impossible fer or CON-
mrrel"I centres 70 experience a financial
"preSsurc ard "cri>i>" without matcr;al,
injurih. all kinds IF hr-incss in the country
without We except shaving votes.
AID nov, Willie there :, l '1%ua,;oa e al
business. We have ,'.a..l mt tine an! ojpor-
,u..iiy too lcoA about US and see villa, is Tie
cause Ct all the 'li>arrointmcu.S and suffer
mos when now threaten IL" people # our
whole country
There VS. once . party in this co"ntry-
md We mn! as we'll Say here that tie old
Wig party bore all tho oAun-that pronlnl-
gated the doctrine Ct protection to home
manufactures and home industry generally:
that thought It better fer the country to man
ufacturc our own silks. vclvc:s. AID broad
cloths. AID keep or specie here at home
! That doctrine was laughed at and ,iN:rulctl
Now we scC--Wli;lt We sec. The fact is too
plain to BE- cainsaycd that We have imported
too many Sooas-:oo many Injuries Aid cx-
/ trava%anc:cs--and exported TOO much gold.
III" merchandise imported into this country
dur;rg tie last fiscal wear amc;:ntcd to S;:lS.-
|2S;,i"". while the exports were 500. So
cc2. thus leaving q balance against Us Of
Sjt.GlG 100, which We were obliged to
pay in specie and bullion. til" excess CT S,,s-
Gle exported Over t:lat imported being $50
G'I.i25. Tins enormous expectation of th"
precious metals exceeds by more than fifteen
millions tina! Of the year ls5;!-G. and. carri-
ed tc the general account Of specie imported
and exported for seven years past. gives as a
balance the enormous s;I.a of !S2G9,1j2 jjo3
exported.
Another cause uf our cmbarrassmcnts-
though intimately connected with our import
ations-is attributable to that large class of
persons who have "Nothing to Wear and
"Ncthing to Do" Let that class of persons
represented by "Miss MFlimscy of Madison
, Square, dress as did orr good old grand
mothers. and there will be no call for such an
importation Of foreign goods. And compel
that other class, no less numerous, who have
Nothing to Do,' and who have representa-
tivcs hanging around every grocery and tav-
ern i'll cur land, to go to work tillins the soil.
. and 'twould not be long before our financial
pressure would no longer be known, and vice
and crime would rroportionaby cease The
price of bread, as a general rule, regulates the
business affairs Of life. IF man can earn q
! given quantity OF grain for days labor, he
can easily determine his gain or loss; all he
saves beyond the cost of living is SO much
wealth. Men get into debt because they OK
pend more than thcy earn; and no man is
permanently prosperous who does lot live
within his income
We have only mentioned few causes of
, ali tic financial troubles that agiate the coun-
try. We might go on and speak of spccula-
tlon--morc especially at the Wcst-as one
great causc Of Tie panic and hard times .
that are now about to visit us; but We have
not time Tor room. One good effect howcv-
er, OF The present pressure, will be to break
down all speculation, and we hope the time
will soon come when spectators will have to
work for their bread, as do other folks.