Daily Nashville patriot. [volume] (Nashville, Tenn.) 1857-1858, 1857-09-30
From The Cleveland Herald.

|
Common Sense IN a Money Paaic-Mopeyed
men tue vrrest craveus on tarth; SO timd that
the least alarm they pull their bead, turtle-ike
within their shell. and, snugly housed hug their
/ gttering treasure nil all tear is removed The
consequence is, that few days disturbance
Of the monetary atmosphere brings on a pert, CT
dearth not only OF the preciOus tails but Of even
! paper money, their repres, NATIVE.
Four weeks ago th re was, comparatively speak
/ ing, an abundance Of money; now there is none
| which means that before the Ohio Life and Trust
| Company failed moneyed men and corporations
loaned their treasure, but it is boarded in long
| stockings aud dark vaults.
Moneyed men never adopt the tactics of mutual
support; hence, a shot is fred into the
aock they scatter, each looking out for himself
each dstrustlul of the other, and each recognizng
only the great law Of selhshness, which is TO take
care OF number one. Courage has saved many an
army even when ammunition was low and many foe
has been scattered by yell of defiance Wnen
there was not cartridge left.
But, after all, these checks upon extravaganza
are valuable as dearly learned lessons. We have
built too many railroads and bought too many for
eign articles of luxury, and the present calamity
would have in a measure been avoided had ae
procured our iron and our clothes at home. But
the patronage of home manufacturers is not now
under discussion. The question is one of present
deVerance from impending danger. In many re-
spects we are much better able TO meet the pres
ent crisis than any which has occurred within the
recollection OF this generation. Twenty years ago
the same disturbance would have brought about
general suspension of the banks Now, however,
the people, owing to the security furnished the
bill holder, not the least concerned. This one
fact testifes the advance made in the science of
banking. Secured bil-holders make no noise but
where unsecured their clamor is disastrous In the
State OF New York personal liability, too, enters
into the banking system, and there also the alb
sence of excitement testi6es to the wisdom Of ma
he
But is there any reason for suppOsing that this
state Of mon tary affairs last long7 writer
in the New York Commercial Advertiser, over the
signature of Peter ScFber, gives a cOmmon-sense
answer 20 this question::
The calamity (it it may be called such) now
upon as cannot by any possibility be of long dura-
ton. 1t is traceable to well known causes aud
they will correct themselves. On the other hand
ell our crops-eOtton, tobacco, sugar, aud food Of
all kinds-bave never been more abundant. Our
exports cannot fail to be enormous. We have on
ly to exercise little economy in our use of for
egn articles foe few months. An average OF
only Eve dollars of this economy of our people for
one year would save one hundred millions of dol.
lars. Our railroads, though runous to entetpri-
sing people who have constructed them are of vast
national benefit. Our roads, though costing vast
sum and yielding nothing to their constructors.
yet in cost very far below the amount of
some European palaces, which yield nothing TO the
people or the country, but mere monuments of
the skll Of the builders aud the folly of the Gov
ernment; while our roads, which TO be sure are
nothing 20 the owners, constant source OF profit
to the masses whose interests are promoted by
them through cheap transit and rapid intercourse.
''tn conclusion, have Ouly 20 say that the pres
ent head vino is of but temporary character, and
the Only way to meet it is mutual and kind for
bearance. Let him who can aid out Of his album
lance do so. Avoid all uncalled for panic making
He who aids panic is a bad citizen, and should De
10 regarded by all good men.
"The only right way is when the wind is contra.
, to DO as Capt Cutie advises, Lay yoor head
lose TO aud bang at IT, aud when it shifts square
he yards and 90 ahead with experience OF tue |
last"