Dayton daily empire. [volume] (Dayton [Ohio]) 1850-1865, 1859-10-04
c!nolnnatI correaponaenoe.

CINCINNATI, Oct 1869
It was predicted last Spring that money
would become plentier as soon as wo could
have a good crop. Accounts from all parts
Of the country represent the wheat, oats
barley and corn crops to be above the aver.
age. Wheat and corn has been, it is true
injured greatly by the frost in some local..
ties, but it is admitted that there is u large
surplus. The staples of the South, cotton
and sugar, also promise we'll still money is
scarce and some pretend to say that it is
scarcer than ever
The cause of this scarcity does not seem
to be understood Young America lives as
fast as ever, and boasts Of the vast resource,
Of our country, He says that we have the
best and greatest variety Of climate and soil
the largest prairios, forests, lakes, rivers
mines of gold, silver, lead coal, iron, and
other minerals, in the world; that no ma.
ton ever before made such rapid progress in
civilization, wealth and population lie
points eNultingly to our large cities, church,
es, colleges, school houses, store houses, no.
tells, dwelling houses, and other improve
ments in proof of this. He justly feels
proud Of the noble and heroic deeds o
Washington, Franklin, jefferson, Madison
Monroe, Benton, Scott, Clay, Calhoun, Web
ster and others, and asks; What country evci
produced such mighty men and vast improve
mi in obn -
America inheriting freedom and large es-
state from his ancestors, thinks that "UnclC
Sam is rich enough to give us all farm -
He appears perfectly happy so long as he
has the means to eat, drink, and be merry
and says that this cry Of hard times is con.
fined to the laboring classes who are never
satisfied. In this Young America is greatly
mistaken One reason why currency is SC
scarce is that exchange is against us, and il
likely to be so as long as Young America
wears costly foreign fabrics, drinks liquors
smokes cigars, and makes use of other arti.
cles that he had better dispense with, The
banks cannot safely issue more paper than
coin in their vaults to redeem it with. The
increased demand for coin in France and
England is draining our country of the
precious metals, and the facilities afforded
by rail roads for "sortersp to return every
dollar of our paper currency for redemption
in very short time, This is now being done
The products of our hardy California miners
have all been shipped to Europe, and about
S20,oO0,00o besides, to pay our foreign in
debtedness, This indebtedness has beer
incurred by railroads and the Extravaganza
of Young America, who thinks there is nc
end to our wealth, and boundless resources
He has been spoiled by coming into posses
sion Of too large an estate, He has lived
and is living too fast--far beyond his income
and it is high time for him to give up his
foreign luxuries, and husband his resources
or he will become a bankrupt, and end his
days in poor house.
California gold has enabled US to build
Railroads and improve our country, but oui
foreign debt is also increased, and it must
paid. Young America had better rely
more upon the labor of his own hands, OF
our farms, in our workshops, in our manu'
factories, and in our iron mines, and lesi
upon the gold of California, for cur nationa
prosperity. He must become producer az
well as a consumer, and consume less thar
he produces if he expects to pay his honest
debts, and hand down to posterity, unim'
paired, the estate which he inherited from
his noble ancestors.
1t is true that we can boast Of having tn,
largest public domain; the most productiy,
soil; the richest mines; the larges. rivers anC
lakes, and variety of climate that produc
es all the grains, fruits, and vegetables O.
the Northern as we'll as Southern ATTITUDES
but the resources Of all these may be squan
dered by paying tribute to foreign countries
and we now begin to feel the effects o
Young Americas extrayagance. 1t is tim
that we become more sell,reliant, more in
dustrious and economical, and less depend
ent upon foreigners and foreign productions
or it will shortly require all the produce o
our great resources opay the interest on on
foreign debt. 5:
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