The Nevada journal., 1857-11-27

CduSco OVER WHICH, not ike natural
scourges that visit at intervals the in
habitants of earth, we have control
From each and every monetary calam
ity the world comes out wiser and bet
ter in its twn estimation, and congratu-
lating itself that from the stock of valu-
able knowledge gained from sad expe-
rience no like misfortune can overtake
it. Yet with all our supposed wisdom,
the same troubles come upon us and
with redoubled force The present fl
nancial embarrassment affecting all
parts of the civilized globe to a greater
or less extent, far from being softened
in its effects to the experience gained
from the past, is the most destructive in
its course of any yet known. Its rigor
is felt and to be felt most in the United
States, but its influence must reach
wherever commerce spreads her sails.
The causes of the mighty panic lie in
our own country-in speculation and
extravaganza, in false political econo-
my too faithfully carried out.
1t is patent fact that in the United
States we have, not, it is true, titled
aristocracy such as Europe furnishes,
but so called upper class which strains
to ape the superior castles of monarchi-
cal countries. Lords, Dukes and Earls
are unknown to our society, but there is
an aristocracy of wealth which is not
less evil i'll its effects than the legalized
nobility Of Europe. In countries where
caste is recognized as an institution of
government the subject strives to gain
position by performing great deeds or
attaining prominence in the arts or sci
ences. In the United States wealth is
made the stepping stone to distinction
among the majority and we have become
nation of money getters, falling in
with the sentiment Political prefer
ment and power is also passion among
the American people.
The observation is often made that in
New York society the merchant of ten
thousand dollars keeps up an establish
ment as expensive as his neighbor worth
one hundred thousand. The latter nay
be able to indulge in costly fabrics from
foreign countries. His purse is suhi-
GENTLY long to bear the depletion. But
the family of the former is DESTROYS of
keeping up appearances equal to any.
They are ambitious Of moving in the
circles of the upper-ten and pass as mil
lionaires. Their appointments are there
fore on magnificent scale. A house
on one of the Avenues, furnished COM
plete from across the waters, superb
carriage and beautiful bays, rich dresses
and costly parties contribute to the graf
ification CT the merchant and his house
hold. His style of living is beyond his
means, and the disease is contagious
The whole country is given to imitateit
to the infinite benefit of foreign work
shops and importers. The government,
instead Of checking the ruinous custom
of purchasing abroad what can be man
ufactured at home, fosters it as a policy.
The value of goods purchased abroad
during the last ten years is incredible,
creating debt due from our merchants
to Europeans, which, according to the
London Times, requires thirty millions
dollars per annum to pay the interest
Yet if any one will watch the shipment
of gold from New York to the old world,
he will find it to almost rival the expor-
tation from California. The people of
the United States have been living be-
yond their means. The products of the
soil have been squandered, and an enor
nous debt created, to crafty extrava-
gance. The country has been prosper
Gus beyond precedent, and speculation
has been rife to satiate longing to
join the aristocracy of wealth.
Were the articles for which millions
cross the Atlantic to purchase monthly
produced on our own soil, the money
would return in its circuit, again to fer
tilize the channels of trade. But once
away from the nation, small moieties
only return to buy the raw material
which is again returned to us in the fin
ished article for an advanced price
Thus we pay millions of foreigners to
labor for us at their homes, whereas
were it the care of the government to
bring that class of workers among our
selves, market would be found at
home for our raw produce which now
costs immense SIMS tO aYDOrt and rp-