Sunbury American. [volume] (Sunbury, Pa.) 1848-1879, 1859-06-25
Mistellaneons.
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A BIT OF CAUTION.

We copy the following bit OF caution from
the Philadelphia Ledger, preached from a
practical text, from a source (says the above
paper) that should command respect, even
though its truths we're less apparent than
they are. We hope it may be read by both
banks and borrowers With the care it merits {:
LOOK OUT FOR TUE LOCOMOTIVE" !"-Riding
listlessly along quiet road the other day, my
attention was suddenly attracted to O sign
board at crossing, bearing the inscription,
Look out for the Locomotive" A sbrll
whistle announced the near approach of an
engine, and in an instant afterwards train
rushed BY with tightening speed Aroused
from my istlessuess, remembered the saying
Of Solomau the wise 1.-The prudent man fore
seeth the evil, aud hdeth himself; bu: the
simple pass on aud are punished" and the
incident gave rise to reflections which have
not yet been able to dismiss frosl my mind.
| said to myself, 1T is not alone in our quiet
journeyings along the shady lanes OF life that
we should look out for the locomotive We
should observe the same caution when ira
yelling along the tboroughfares Of business,
and when we 60 upon the mart, or the ex.
change" Yet how many 'simple Ones" heed
less OF the "sigu. boards" that meet them at
almost every crossing, and regardless of 1.-THE
whistle" "pass on and are punished" Let
me ask il the signs Of the times are rot now
sufficiently plain, and the shriek OF the whis
tie from the other side Of the Atlantic suff.
cieutly loud to cause every prudent man TO
hide himself?" Why, the locomotive is even
now upon our very heels! Ho, ye simple
ones pull up your 2 40 horses-look out for
the locomotive, or depend upon it you will be
destroyed. In plain language, We are all in
imminent peril.
We are a people of wonderful energy, and
withal of astonishingly short memories. Ma
nv of us have long since forgotten the gloomy
days OF the autumn Of 1857, and the tempest
which at that time overwhelmed so many oI
our bravest mercantile houses as we'll as our
banking institutions; and with our wonted
energy (caH il reckiessness) we have agair
been running race against the locomotive
importing too many goods on credit and pill
ing up indebtedness, without rejecting
moment how it was TO be liquidaied. Well
the time to pay has come, "and there is NJ
pitch hot" as the sailors say. What are VI
to do2 The troubles 10 Europe have check
ed the demand for our cotton there Gnd re
duced its price. Our breadstufs and provi
sious we have no surplus to ship, and if W,
had, our energetic spectators have run thu
prices so high that they cannot be exported
without loss TO the shippers. (Our own pso
| pie are now unnecessarily paying starvation
prices for all articles food. and ore conse
Queutly compelled to put themselves on shor
allowance for the benefit Of the spectators.
In this state Of things, the bills drawn upoI
the shipments of cotton, breadstufis and pro
visions, cannot be negotiated for want Of con
fdence that the proceeds OF the Shipment
will realize the amounts drawn for. Beside
this, large amounts of American stocks be
long TO European owners are being sen
back upon US, with orders to sell and remi
the proceeds thereby constantly adding L
the already unmanageble amount OF our in
debtedness. This is our condition, disguis
it as we may. land yet, not many days age
one of our newspaper wseacres prophose'
"peace," "peace p 1--WE have nothing 10 fear.
They must take our cotton, breadstuhs ant
provisions at high prices, and send none
over to buy our stocks" 1--WE shall have th
carrying trade OF the world, and go ahead an
prosper amazingly !"
Beguiled by these and such like fallaciou
representations, many OF our simple one
rushed into spsculatons in -four, proyi
sions, &C., resulting in losses TO themselves
and the unnecessy enhancement Of prices {
the domestic consumer.) We have nothing
therefore, that we can send to Europe in Ii
quidation OF our indebtedness but gold; an
that is going from Us with alarming rapidity
The banks (those Of our own city especially
being, as We suppose, managed with NOR
prudence than formerly, have caught tn
sound Of the whistle afar of, and have, 70
some time past, been looking out for tn
locomotive. They have been reducing thei
discount lines gradually, and must continue {
reduce them so long as specie continues TO q
out Of the country Those who profess I
see the farthest into futuritv, think that tb
shipment of specie to Europe must continu
for 30 days to come. They reason thus
We cannot now send anything else that wi
pay, and the growing crops Of grain, howeve
abundant they may be, cannot come to maj
ket fer several weeks and will then, prob,
bly,, be held on speculation at such high pr
ees as to put them out OF the reach OF pu
chasers for shipment. II, therefore, the e,
port of coin should not be checked by Il
return of coin in payment OF bills now draw
on shipments Of cotton, &C., 1t must contir,
for three months. These views may or mt
not be correct. Time will show. II th,
be correct 1t behooves the banks, snd eve
man in business. TO bs wide awake. and Lo'
out for tie Locomotive.