The Grand Haven news. [volume] (Grand Haven, Mich.) 1858-18??, 1860-12-19
The Coming Crash.


been felt in New York. Western curren-
cy is deprecated for two reasons: first,
ON account of its worthless system of re-
demption; and secondly, and chiefly, on
account Of the large decline in its stock
securities, which latter resulted directly
aud wholly from Lincoln's election. In
New York the panic has been Of differ
ent nature, although resulting from much
the same cause. State stocks, bonds rail-
way shares, bank rates, produce, wool, and
all that have largely declined, while dis,
counts and exchanges have gone up.
This very naturally produced a panic in
every thing, which increased in fury, and
threatened to swamp all commercial in
terests and produce want and suffering
again as in 1857 among the people,when
it was happily arrested by the liberal ex-
pansion Of the banks couple of weeks
ago. This staid the tide for awhile, and
many are sanguine enough to believe that
it will be sufficient TO avert the coming evil
altogether. But it is hardly possible that
it can BE otherwise than o temporary
check TO the storm that has been lower
ing and threatening ever since the cleo
tion. a mmtf
II is to England that the eyes Of the
public, and especially Of the financial pub
lie, are now turned for thence the coming
crash is expected when we have the re-
turns of the effects of our own comphca-
tons upon the commercial and monetary
world Of Great Britain. 1t is well known
that England has not been SO lily pre-
pared for the news of panic for years,
and the liveliest fears are entertained that
the first breath of ill-news will fan the
fame already kindled into deep and
wide spread panic. She has had a short
harvest, and is now exporting from the
United States million dollars worth of
food every week, when ordinarily she ex-
ports no more than quarter of that
amount. Her war with China costs half
million dollars per week. This country
is now importing little from her with a
probability of still less next spring; ex-
changes have turned against her; all
things act against her, and none for her.
To such q strait has she been reduced that
a recent requisition of France upon her
for a million and half Of dollars was n
sufficient cause for the bank of England
to advance its rate of interest from four
to five per cent. % er.a
Since these things are so, what will be
the result when the demands for bullion
that have gone out from New York are
received? If the demand from France
sent interest up to five per cent, will not
those from the United States Cor much
larger amounts send it up 10 ten? 1t is
difficult to see how panic is to be avoid
ed in Great Britain, and if commercial in
terests are greatly disturbed there it is
impossible but that the reaction in New
York will be much severer than the fur.
ry which has already been partially ale
waited. This is very much apprehendcd
in New York, and tho public should be
prepared for it. If the full force of the
storm can be turned aside, as it is TO be
hoped it will, preparation can do no
harm; while if it does come with full fu-
ry those who are the best prepared for it
will be the best off. Those who have
ont much sail had better take it in, for if
crash does come il will be hard enough
to weather under bare poles without a
yard Of canvas out. Free Press.
-S----
Human FOR "BRIcK."- editor Of
the Lacrosse (Wis) Union and Demo
crdt thus describes the result of the elec-
ton: rr.-l 70;
"The returns from this State come
pouring along like buckwhcat from the
taiLend of a tanning mill, and Just about
as comfortable To read as that triangular
grain is TO sit on. We feel sort of weak
ish about the gizzard We feel colo, chilly
and clammy-like just on the the small of
the back 10 read how this State-this
Badger State-has acted. oh, tempora!
oh, mores! Sine q'ary, ding dongL--
Il wish 1 was in Dixief If tho post
master puts another Republican paper in
our box until after Thanksgiving, we'll
steal his door-yard, They are SO mean
80 ~ riShO" dOh II anu IlVIU Nb nlm
If the Legislature don't divide this State,
the Legislature is a fool! Arnold is
Reymert is scoop.ed. lara
bee is scoop-ed. Hurrah for three scoops.
Manitowoc, instead of 1,400 Democrats,
gave Lincoln $50 majority. Oh, dearl
We arc in agony! Rock County that
wool growing section,' gave Lincoln any
where from 10000 too 7o0,0OO-we have
not time TO count it. ..,... .,-.t q.
Jefferson County has turned over like
a boy with the collie, and now lays groan-
ing, black side up. Wisconsin has done
it. Every thing is Lincoln---even the
rails must have voted. He will have
more majority in this State than you can
roll down hill We have three hundred
pounds Of figures, but not enough TO give
half tho Republican majorities in Rock
county. Go on with your old scow---it
won't rain long.
T" For President in ls64-STEPHEN
A. DOUGLAS"