Belmont chronicle. [volume] (St. Clairsville, Ohio) 1855-1973, 1858-10-07
Thinking Men,
Read and Pom.
der.

Of all the furnaces in the Union, one
half at least must be closed-the remainder
being only partially employed So, too, is
il in the rolling mills and machine shops
not one half of their productive power be-
ing now in action. In the coal region, as
we learn, the distress among the working
people is likely to be greater than has ever
yet been known. Last Winter, they had
the little savings OF the Summer, but this
season they have been but half employed
Our railroads are likely soon to pass into
the hands of the ndhoiders-the original
proprietors being utterly extinguished Our
farmers have little wheat, scarcely any oats.
and but small supplies of corn. Heavily in
debt, with enormous interest to pay, their
farms must pass Though the sheriff IS hands.
Our shipping interest is now, of all, the
most ruinously depressed; and yet it is like
ly to be still worse-the carriage OF really
valuable commodities tending to pass en-
:irely into the hands of owners Of foreign
ships. As regartss our Irctories and their
owners generally. the following paragraph
from one OF our exchanges exhibits, as we
think, the lrue position OF great majority
of them:
"Thcre is TO be an immense sale of pro.
perty b. the Sheriff of Burlington Co., N
j., on the l7lh OF September. All the ex-
tensive mills, factories. prut-works, ard the
whole village of Shreve"ille, some two
miles from Mt. Holly, are to be sold under |
forecl sure. There is an elegant mansion
and twenty dwelling ouses, beside the |
water power Of the Rancocas, and in fact
group of Improvements on which an i'm
mense amount Of money has been expended,
much of which has been hopelessly sunk.
The proprietors were both deceased before
the hard times come on. But though co.
years they have manufactured about the
best article Of spool cotton ever made in
this country, yet they had to struggle on
under all the disadvantages of competition
with British capitalists, who, under the
VI ilCC N'O'S Jul |
own manufacturers to the wall The once
aonrishing village around these extensive
works became silent and idle under tie
crushing blight, and now, when manuiact-
uring IN so many other places is stagnant,
it is absolutely desolate. The cotton thread
business is carred on in a small way at Mt.
Holly. but il has hard lime to keep up and
earn what it ought to. Worse than a Il this,
there can be bu; little hope that these fact
oriPs and Improvements will fall into the
hands of parties courageous enough to put
them in operation while this curse of tree
trade hangs over the industry of the nation"
The Treasury is rapidly lending toward
bankruptcy--the expenditures being at the
rate of nearly $4,000 900 per week, and
the receipts being likely not to exceed
$1,000
In the midst OF all this, what is the Ad- =
doing! The President is y
shutting the CARDS, in the hope of obtaining Y
4 re denomination, that being the object next
MS heart. The Secretary of the Treasury +
s assuring his frie nds of his extreme sur =
'rse that trade so very Obstinately refuses n
o grow and revenue refuses TO iEcrease.- i
SO far, however, as regards the condition Of :,
he people, or the country, both are as calm
IS Summers morning--being, ike slijaw-
'er, quite content to wait, in hopes that
omelhins may turn. up. The history of d
he world may be safely challenged for the Il
reduction of so utterly contemplate an W
Administration as that Of james Buchanan. al
Such being the manner in which the peo, te
lie interests are managed, il would seem
0 be time that the people themselves should tn
ook into their own affairs.-N Y. DaHg
'iibHns, 2ob M ia