The Evansville daily journal. [volume] (Evansville, Ia. [i.e. Ind.]) 1848-1862, 1857-11-14
INDIANAPOLIS CORRESPONDENCE.
INDIANAPOLIS, Nov. 18th, '57.

INDIANAPOLIS, Nov. 18th, '57.
F.Y.. CARLILE-Dsar SIR! have moth |
ing very important to communicate. The
Board of Directors Of the new State Bank
has been in session, and adjourned yesterday.
The reports from the several Branches show
the Bank to be in very strong condition,
and most of them will be able to do some
thing in aiding movement of our great sta
pies to market. 1t must not be expected,
however, that their ability in this way will
be large. The state of the country and the
necessity for their continuing specie pay
ments-to preserve their franchises-while
SO many Banks in other States are under
suspension, will compel them to great eau
ton in enlarging their discounts. They can
only loan to a limited amount on short pa
per based on actual shipments of produce
Beyond this they cannot prudcntly venture
to 60.
The financial skies are surely Frightening;
yet we should not deceive ourselves, and
count on a rapid restoration to ease in busi-
ness matters. The old debt of the country is
yet large, and until that is extinguished per-
manent relief cannot come. And this ex-
tinguishment can only be gradual. The
storm has been violent, and time will be re-
quired to repair the damage done and place
business and credit upon solid and legiti-
mate ground. With our abundant crops and
prudence in the use Of them, we may hope
for great relief; but those who look for an
| immediate cure for the embarrassments OF
the country, Will be wofully deceived. And
those who look for high prices for our West
ern staples are equally deceived. These sta
pies are in too great abundance, and money
will be too difficult to obtain to warrant Of
allow Of old prices and it will be as wei
for those interested to make up their mind.
to this at once. There may be fluctuations
in prices and occasional advances, but ole
prices will not be reached nor even approach
ed.
The great mistake which people make il
accounting for a revulsion is that they al
ways charge it to somebody besides them
selves. The common resort is to charge i
upon the banks. This is quick and cas-.
way to dispose Of the difficulty, but the ide
is all fallacy. l have not time now to dis
cuss it. may do SO at a more leisure mo
ment. / will content myself here by sug
costing that if business men would owe les
outside of banks, all they owe IN them wou.'
give them little trouble. 1t is the genera
erpansion Of the credit system beyond tie &C
taul ,eants and resources Of the country, whicl
has made the break in confidence, 50 disas
trous in its effects. Had our debts been less
even half what they were, who does no
know that the calamities of the last tw
months would not have comet The truth il
our debts have been overwhelming-thoug
only 1.-the Of them were to the banks; an
even now the amount, after all our pay
; mcnts, is far from being small. Yet that W
shall all, who have lived thus far, live on,
clear-at least if we do but profit by the les
son which the past teaches, and avail of tn
opportunities which the future opens to Vi
Let us see that we fail not in either.
, G. w. r.