Daily Nashville patriot. [volume] (Nashville, Tenn.) 1857-1858, 1858-01-01

zssLrd ri1uss.
This is i coppendions phrase, which
fsesses broad and fearful meaniaG
ne past few months It has fond 5ccs sional
expression, hut ii has pot been used with
the fill and terrible {Bifcation, Involving
scarcity of faoney, Of provisions. of labor,
of prodscfiob, and absolute want and hard
ship Pie fnahciaI arrangement has not
yet gone so far; but it is evident the times
are hardening, and the Interior conseqnen-
ces of panic, crisis, or a revulslon, are
showing themselves In the manufacturing
districts these results are rapid and even
sudden in their approaches; in the agrlcul-
tural they are slower and perhaps less GER
tain, as a general rule. But in the pre-
sent instance, it seems that our own pre-
eminently agricultural State of Tennes-
see, must feel the results of the late
reyulsion, and heavily feel them. The
business modes of our people require the
payment of more money on the hrst
of January than on any other day OF
! the year. Our liabilities are arranged
for payment at this time. We are ac-
/ customed to guage our expenditures by
the present plentifulness of money-and
not what it will probably be at payday
We did so at the beginning and during the
first half of the year just expired. Our
liabilities therefore are such as the none
tory condition of affairs warranted yeal
ago. But the means for payment have
been suddenly and Unexpectedly contract
ed. The Bank statistics show that there
is uniformly a greater demand for money
on this date than any other-their circula
ton is greater, while their deposites ar
: smaller, than at any other season. But OF
the LIST day of January, 1858, the Bank exhi
bits will show that they have a smaller Gil
culation and less deposites than at an
time within a year past. The Banks {
g this city, and we are informed that tn
: same is the case throughout the State, hav
. in a great measure ceased to discOun
even for their best customers. Hence OF
circulating medium is in adequate to til
real wants of the people. The produce {
;. the past year is either already gone out {
t the State, or will go out at prices so r
. duced as that, it will not supply the pre-
u sing demand. Retrenchment and anotht
is crop will extrcate MS from the difficulty
d but this will come at the end of anotht
y year. In the meantime we will have
: wait and suffer-not for the necessaries
Z of life, that we would believe impossible
: the great hog, corn and wheat CROWN
e State of Tennessee-but suffer duns-
most exquisite suffering-and impaire
Il credit, and for many of the gewgaws an
g luxuries we have been accustomed to. I'll
: Banks cOa,ld extend relief, if they wei
If permitted but it is not to be supposed
g after the unremitting assaults that hay
d been made upon them, they will be above
g to do So The convenience of the Peep
:, is not to be regarded, while the keen glant
:, of power burns with hatred and is fixt
q on revenge.
:. Our Merchants will have to curtail the
d Stocks, exercise a more strict scrutiny oV
r their books, and be more wary in deliveril
ie their promises to pay. The people thel
y selves will have to measure their expent
IS lures not as much by their fancied want
IN as by their ability to pay out the yea
budget, as well as all arrearages. T
n, great, and in a free country omnipoter
nd agencies of industry must be employ
AZ with renewed energy and assiduity.
ms But we are far from counselng tho
re- who have not the means to pay all th
,olai debts, to fold their arms and pay nor
Ter Let what money we have, circulate t
to more freely. BY its vigorous applicable
ia a few hundreds will be of greater serv
ed than as many thousands boarded. WI
10 we are debtors we are also creditors
his each other. If we have hundred OF
,ht thousand dollars, let us send it forth on
,;n proper mission of debt-paying. Let it
of as far as it will and economy and indus
will supply the balance in their season.
New Trick Against the South.
Il. r II