The Union and eastern journal. [volume] (Biddeford [Me.]) 1854-1858, 1857-10-23

l.....,.M ,iiv 'al H..i iad. .t
r SPEECH OF HON. n. P. BANK
In Fs.e.il Hall, Beeie., On the
FINANCIAL L CRISIS
On Thursday evening Of last week, Fsl
euil Hall, In Boston, was crowded to its o
most capacity, to hear Mr. Banks, on topi
relating to the present financial embarras
mena.r We propose to give in this, an
o subsequent number, some portions Of b
speech, printing from q yerbative repo
given by the Boston Journal. The meetiu
was presided over by William Wilkins, Est
who introduced Mr.. Banks to the meeting
Mr.. Banks was received with tumultuou
applause which was continued for som
time. When quiet was restored, Mr.. Bank
spoke as follows. e a.g l.s-r..--r.ul
Mr.. President and fellow citizens I ris
tonight to present some considerations up
on the policy Of the Governments unde
which we live, both State and National, bu
without special reference to individuals, a
to their party relations or as to partizan or
carnations. Irise in this presence and il
this place with feelings Of trepidation
know not what manner to clOthe my thou't
in the garb most fitting to the time and tn,
occasion. l associate with this Hall The
spirits of the men who IN past time enlisht
ened with their sentiments OF wisdom and
patriotism. and it is the strongest hope that
bears me up tonight, that may DO able "a
present such thoughts as will be ever in the
memory of their history fitting topics for
consideration upon this occasion. u. "
am aware that VIC are assembled under
circumstances that arc Of o trying charac.
ter. ...f .... .I.
When l Grst accepted the Invitation to
address you upon this occasion. it was Far
from my expectation that that period Of dis
tress through which the country has just
passed would be at its crisis, or that the
wave of misfortune would just now be pass
ing over us. 1t is consolation, though It
brings with 1t feelings ofsorrow, though It
challenges the sympathy of every man,
whether he be within or without the imme-
date circle that is affected, it is q pleasure
to recall the manner in which, in tins try.
ing emergency, the city of Boston, the me.
tropolis of New England, has borne her rart
and discharged her duties in the CONNER.
cial crisis that has swept down men Of for.
tune, rs it may cities and States. Gap
plause.) The strength, tho fortitude, the
intrcpidity with which the merchants Of
this metropolis have breasted up against the
storm, entitle them to our respect and the
consideration of the country, more especial
ly the harmony existing between the mer'
camille associations and the monetary asso-
Citations, which have in other parts Of the
country been less cooperative and less unit
ed in Their views and policy and action-it
is u satisfaction that here these interests
have been brought, they are alike satisfied
with the course Of policy pursued BY each.
And, Mr.. President and gentlemen, al.
though we witness what seldom Is witness
ed by the people Of this country-fortunes
that have been built up through the hard
labor of half q century, swept away like the
dews of the morning, and manufacturing
and mechanical establishments closing their
doors upon labor, and men wandering away
from their accustomed places of occupation,
sorrowing, without immediate employment,
not without fear for that which Is immedi
atcly before them, and looking upon the
dread winter which is coming upon us, for
scenes Of suffering and sorrow, perhaps Of
starvation, what New England man does
not look With pride upon the order and
quiet exhibited in every part of the State.-
We ought, however, to recollcct. amid these
inisfortuncs. that the country itstell, not
wi.hstanding the oppression that rests upon
Ms. never was richer than it Is ut this mo
ment. 1t is not the wasted years nor the
wasted lives, nor . miscalculatins course o
conduct on tho part Of public or private
men, that has brought us to the suffering
which we now experience. Here at home
and elsewhere in the country, there is an ex
hibitiou Of thrift, and an accumulation D
property, which will at no distant day b
added to the country, sufficient to relieve al
from suffering. ...O -ai n.ul n..r.....
The agricultural productions Of the coun
try for this year will make o value at tn
rates Of former years not less than two thou
sand million dollars. The manufacturing
interest, the seat Of which is chiefly in New
England, yet which permcates through al
the Northern States, and extends more
less towards the South. has an aceumulatc'
product this year Of fifteen hundred millio'
dollars. Men ofall classes and interest
have been closely and steadily engaged, il
the employmcn.s Of their lives, and the
will yet reap the fruit Of that toll, thoug'
for o moment, from circumstances beyon'
our control, and the origin Of which wo Cal
hardly yet appreciate or understand the
have been deprived Of the immediate rcwar
of their labor. There 10 no sensible con-
parison to be made betweon tho commei
cial crisis Of this year and that Of 1887.
Men were then engaged in building y
paper cities, our people have boen erectin
States and planting tho iron ways, upo
which they win hereafter d,yclopc the ma
terial prosperity Of those states Then ther
was an amount Of spoaein the whole coun
try Of SO, ,OOO. 900 only; now there Is i