Republican vindicator. [volume] (Staunton, Va.) 1849-1857, 1857-07-04
The Daayars Of Overs Speculation, -The
ETarniae frprl tie RtgMt Quarter,


The following excellent article appears in
a late number Of the Nebrashian, weekly
paper published ut Omaha city, Nebraska
Territory. The warning comes from the
right quarter
'sAtsno period in the history Of our ma
ton has the Mania for becoming rich in u
hurry without hard and persevering labor
been so peculiarly the spirit of lineage as the
present. The field in which this DISPOSE
tion yages to the greatest extent is in the
western States and The Territories. Sue
cessful speculation il government lands, by
n few individuals, whenever it occurs, i'm
mediately flies over the whole country, and
Immediately there are hundreds who are
seized with the mania to double and quad
ripple their fortunes in few weeks, or
months at most, and so they abandon the
pursuits of their former lives and rush
headlong into the labyrinthine windings of
reckless speculation lfthey arc successful,
they are heard from again; if unsuccessful,
they fall back, it may be, far below their
former condition in society and with few
faint murnurs at what they call the freaks
u fortune, are heard Of no more.
s'The past few years have been to many
spectators in western lands golden age.
In Illinois, Iowa, and Wisconsin they have
.bopght,sthey have sold, they have counted
all6i nItfa3 hundreds of thousandss and
jls{fzall hff8 Iancied themselves rich but,
sihen one more bold push, and they would
be richer; they make that, and they are
ruined And so it will turn out with thou
sands who are to-day making haste to be
rich by speculation.
Tho history of the past is replete with
instruction by which we should profit 4
score of years have passed since great fl
nancial crash aeitated the whole country
Men retired at night confident in the posses
sion Of millions, aud woke in the morning,
10 find themselves bankrupts. That crash
was preceded by mania for land and town
LIT sneculations not greater than is Witness
Ell at the Present day. Then, as now, IN
improved lanls. aud town lots whore the
tail grass still fourishcd, sold at e2traYa-
CANT and even fabulous prices Nothing is
ever added n the public wealth by these
wild specllatioas. The fruits ofproductiye
industry are 10 more abundant the real
value Of these lands and lots is not ncroas-
cd hY passing from hand 70 hand in an un-
improved and uncultivatcd state; by-and-
Is the revHt5i5n came, and the whole nation
WIS startled ut tie report Of great failures,
the effect Of which was seriously felt all over
tie country The times suddenly, aud to
many unexpectedly, become very hard
money becomes more than ordinarily yalua-
lie, ard then i've aud even six per cent a
month IS paid for it, and still the crash
comes. and nothing can avert it,
Then let us profit hy the past. 1t is
high iiae that this reckless spirit Of spoea-
latien WIS checked and the useful pursuits
OF life received general attention. 1t is un-
deabtelly right and proper that men should
trade with each nIher-that they should
,haq ard sell AZ gain. but when this
tuYing aud selling mania sezes hold of the
great mass Of he community 10 the almost
t7tal neglect of the productive pursuits Of
fife. tie result eaun9t be doubtful The
SthgeneY uf the money market aud the
l.5sA prices e provisions shout convince Us
e. eaaaat re y spec llation al}ne.-
ehause every producer 10 the ptoitla.s con-
sumner AMI eaunt fuIine will shortly stare
us in tie face The great law OF labor can
mt BE- violated With inpuuity; and if We
will MT learn lessons from the past, the flu
tttre may Compel Us to listen to instruction
that MAJ H. mere EaTfihie than 6rreeable