Bedford inquirer. [volume] (Bedford, Pa.) 1857-1884, 1858-07-02
a GRAND. DISCOVERY /.


ssSlGMFrdANT The great money banc
which last fall prostratcd tie business Of the
country, had its origin in the failure of the
Ohio Trust Compaag, an institution located in
Black Republican te.n--GGzeffe.
We consider this decidedly rich. Business
of nearly all kinds eas Frustrated last fall by
financial storm, and remains prostrated yet;
and that too, without any hope of speedy re-
coEery. Our great manufactures are closed
and idle, or working on half time, and reduced
wages; commerce is paralysed, so that our
merchant marine is rotting at the wharves for
want of something to do; the price of agricul
tural products has fallen below living rates,
there is DO demand for labor at even half the
usual wages, and the whole land is covered
with universal complaint Of scarcity of
money and of 'hard times" Many have in
qufed and speculased into the causes of these
evils. Some attributed them to the suspension
Of the banks, but the banks have al, resumed,
and things remain unchanged for the better
Others, for want of some better reason, have
attributed these evils to s;overtradiag, :" sex
pensive living" &c. But more recently the
convictions Of the country have settled down
in the opinion that the great trouble has been
occasioned by the unjust tariff policy of the
national government. We have no adequate
protection for American labor, American agri-
culture, commerce or manufactures. Such l. /
the voice Of ;hc press Of the country, aud such
was iTe voice Of some five thousand mechanics,
artizans and laborers, who met in council, ir-
respective Of party, at Philadelphia, week be-
fore last, and unanimously resolved that the |
government which refused to protect its citi- |
zens, was unworthy of support BY its citizens.
But it seems that the people, the press, and
the working men of Philadelphia, and all who
think with them, have been mistaken. 1t re- |
mained for the philosophical, the wise, and the I
logical editor of the Bedford Gsz tte 10 discoy-
er that the whole trouble shad us origin IN /
the failure Of the Ohio Trust Company -
And what makes the matter still worse, is the /
fact that this Trust Company IS san institution
located in a Black Republican State" Isn't
it dreadful. We hope the five thousand Phil
ade phians, aud all others concerned, viii jast
make note of this, and amend their opinions
and practices accordingly. Ouo-half of them
may have never beard of this tremendous SIN
stltution," called the 'Ohio Trust Company"
and We much fear that those who have heard of
it, may be altogether unable to perceive or
any connection between it and the
great financial embarrassments and distress OF
the people, no matter. The editor Of the
Gazette has both made and proclaimed the dis
coycry, and that should be the end Of contro-
versy and doubt Let us have the matter set
tied. That be Is right, is ''as clear as mud ~
The fact that this constitution" was "loca
ted in a Black Republican Siate," ought OF
itself almost be sufficient to settle the question.
The further fact that this company was char
tered in Ohio by the authority and in the palny
days of Locofocoism in that State, ought not,
we think, make any difference in the conclusion
arrived at. When we are asked, hereafter, the
"origin" or cause of the present hard times, We
can Just blame it all on the ''Ohio Trust Com
panym