Daily Democrat and news. [volume] (Davenport, Iowa) 1859-1864, 1860-11-22

THUkSDAH 8VNNAWV NVSs So 80Ov
Ous ueighbor does not feel disposed
20 admit that the election Of Lincoln I,
the Presidency has anything, whatever
to do with the present panic-with tb'
depression Of State stocks and the conse
qnent Extravaganza of financial mat
ters-the increase in the rate Of ex.
changes, the decrease of tie price Of
grain, aud general stsguation Of busin es,
not only in the Western but Eastern
and Southern Stakes likewise.
We did not expect the Gayette to
make an honest admission regarding this
matter; but it is . matter Of great in
difference to US whether it does or not.
The facts stand out in such bold relief
that it needs not our confederation to
make them more tangible, nor the Ga
sette's denial to render them Obscure.
A long time before the day Of election
the statesman, aye, even the common
herd, saw distinctly what effect the sue.
cess of Mr.. Lincoln would bring about,
and yet they hoped fer the best. They
saw that the bitter feeling which had
grown up between the North and the
South on account of the unfriendly acts
Of the former, would be brought TO \
head by such result, and that in CON-
sequence of threatened, if not actual
secession end national disruption, loss
of confidence would ensue that State
stocks would fall-and as a conse-
quence the banks and corporations based
upon them would tremble; that there
would be general distrust Of State. and
other stocks, and that general financial
distress would prevail throughout the
entire breadth Of the country. 1t has
coue to pass. What they foresaw is
fast being brought before the eyes Of US
oil. Not week had elapsed after the
election before the trouble was fully sp
parent. Those persons who had here
toforc dealt heavily in stocks, became
alarmed. They we're sure of q hea.
Wy depreciation, and consequently they
commenced drawing in their money and
piEng it in their pockets, rather than
run such severe risks as were presented.
And not only does the desire to hold
money from business rest with stock
dealers IN New York City it is general
from the millionaire who laws away
his funds in the iron chest down to the
apple woman who hides away her spare
shilings in an old stocking. Everybody
who can do so, is doing it with all
his might. This is what is affecting and
will continue to affect business iu this
country. Though every bank in Illinois
shonld burst up to-day, it would not
trouble Eastern money matters or East
ern business to any great extent, were
that feeling Of confidence which should
exist between the North and South,
firm and uLshaken.
The most wealthy manufacturers or
merchants in the country as we'll as
those who are not as we'll of, often sec
the time when they want bank or loan
accommodations,b but with lack Of con-
fidence on the part OF monied men, these
accommodations are not to be obtained
- consequently ruin ensues. This
causes more trouble than all the Illinois
banks, and we presume that our cotem-
porary will not fail to see how the cleo.
ton of Lincoln brings it about. All the
assertion and argument which he may
use does not change the fact. Had
Lincoln been defeated the financial mat
ters OF the country would in all proba-
bility have moved along quietly and
prosperously, but with his election comes
dietrust, discord, death Of confidence.
and general disarrangement of finau-
ces. The merest school-boy can cipher
this ont. 1t is but in accordance with
the doctrine Of cause and effect-ss
plain poison produces death.
THE Gazette still clings to the idea
thai MIR. Lincoln is not sectional. Il
any one asks Lincoln about his ideas OF
the future state of the government, aud
his course in reference thereto, he says
bianc'y: "Kead my speeches." You
are handed copy of "my speeches"
and you sit down to hunt AMONG then.
for the future policy Of the Rail Snl;,,er
Well here we find clue. Lincoln saws
in one OF those speeches, this coun,,y
''cannot endure halfslave and half free -
That looks sectional. Lincoln belou,.
to the North, but if the South persists in
holding slaves she cannot exist as DOR.
ton Of the same Uoion, Of which the
North is part. You read again in "my
speeches that this Union, in order to
exist, must be either all one thing or the
Other-sall Stare or ali freo0 na