The Kanzas news., 1857-10-24
For TnE Nrws.
The Crisis.

The Crisis.
Eastern papers are at present all crowded
with accounts of suspensions, failures and
bankruptcies, and each unites with others in
the cry of ssa crisis - ga crisis 20 These
monetary paroxisms have become so COM
mon that the cry of ..crisisl'' has ceased to
disturb the equanimity of the majority Of
our people. They have become SO aecus-
toned to the cry of s.wolf !" that their fears
are no longer excited by it. But this We
are told is really Simon-pure crisis-tht
great crisis, which is now making US Its
third visit, at the predicted time; that its
recurrence is as regular as the appearance Of
comets, and that the period required to per-
form its journey is twenty years. Well, tc
be sure, there was quite disturbance II
money matters in 1916, caused partly by
the war with Great Britain, and partly by
the war among the banks, over what was
supposed to be the dead body of the United
States Bank And again, IN 1887, when
banking had got to be such a rage, that &
man was considered of EEno account" unless
he was Pres. or Cash. of bank when
banks were established at every roads
the sum total of whose specie consisted ol
suRdry and divers kegs of old horse-shoes
and nails; when shin plasters, those mise
rable apologies for money, were so plenty as
to be used for cigar-lighters, when specu-
lation in western towns and cities had be-
come mania, which carried its victims to
the poor-house by thousands, and to the
mad-house by scores and hundreds-then
there was a crisis But who will pretend tc
say that the same or similar causes exist
now which plunged the country into such
deplorable state twenty years ago? A few
banks may have issued too largely, and thus
run.
A large amount of money has been In
vested in western lands, but generally witt
good Judgment, and at fair rates-totally
unlike the wild and reckless adventures o
go '37. Many banks have suspended, it il
true but only temporarily. Nearly all art
bound to redeem every dollar of their issue:
at least, and they viii be able to as soon as
the panic subsidies. No bank of issue cal
be prepared at every moment to redeem Its
whole circulation.
Our imports for the past year or two hav'
been too large, but they have been, for tn
most part, necessaries, one large item beins
railroad iron. We are at peace with all tn
world and 'sthe rest of mankind - the crop
of the whole country are unusually large
there is greater quantity of hard specie IL
. circulation among the masses than was eve
before known; ''the hand of the diligen
maketh rich' and honest labor meets its ful
reward Wherefore, then, the crisis? VIII
some one tell us the reasons for any seriou
disturbance in the financial world. Is tn
fact that the Bulls have gored the Bears il
Wall street going to bring on crasisE be
cause the Philadelphia banks are jealous Q
the old banks of Pennsylvania are we t
have financial CONFUSION Is the grea
esPacificator'' to be the cause of as mucl
mischief in the business world by his tarii
of '46 as he has in the political world by hi
dxplichy of '57?
But, seriously, if capitalists are afraid t
trust their funds in Eastern banks, let then
come to the grand and glorious West; ou
banks never fail; no run ever exhausts thei
resources; their (alluvial) deposits ar
boundless, and they honor all drafts mad
upon them. Their rates of exchange ar
most advantageous, giving the most bounti
full harvests for the least labor.
Come, then, where your capital will no
only be safe, but will rapidly accumulate
Come from the dusty streets, hot pavement
and ceaseless turmoil of your crowded cite
to the fair, free West, and, my word for il
you will live longer, sleep sweeter, eat heart
Ter, and die happier for the change.