New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1861-04-10

property, $9,5E, 4lO-a total Of $45, 1885 II
wa, the same in Philadelphia, where millions OF
shibplasters as small as FIVE cents cash,
were required by the total disappearance Of
specie Tho coal operators of Pennsylvania
were crushed outright-snines were aban-
doned, furnaces closed, ard desolstiOn settled
down upon the whole region. Millions we're sunk
in this single interest alone. Throughout New
England the ruin was widespread and most dis
astrous. Tens of thousands Of men, women, and
children were thrown out of employment. The
Boston SoHtiRd said it was " hardly possible TO
give correct account Of the state OF affairs
in this city. All sorts of business seems to
" be at a stop" The West experienced its share
of suffering The failure Of Yeatmau, Woods Il
Co., whose notes made up third Of the cur
rency of Tennessee and Kentucky, carried ruin
aDd distress into the homes of thousands Every
body seemed to be in debt. We owed y3st
amounts TO Europe, and Sir. Bidde asserted that
the people owed the banks nearly 500, 100000.
The wrecks of the crisis, represented BY an In
debtedness Of $500, 100000, were cleared away
by the Bankrupt Law of 1912.
This summary Of the leading facts which marked
the progress of the reyulsiOn Of 1881, cannot be
familiar to the generation Of croakerS who now
continually announce that we are utterly ruined,
or on the point Of being so. If familiar with
them, they are deliberately and with wicked in
tent, exciting apprehension and alarm. The facts
give the lie to all their allegations. Dull as
business may be around us, cannot every intelll-
gent reader see how wholly different our present
condition isl Treasury notes are selling at u
premium-spece is piled up in bank beyond all
former experience, and more is cOming-cotton
almost at its maximum exchange at its mini
mum-manufactuIng only sluggish, not pros
trate--no coal mines abandoned, no public works
in this region suspended but many actively
prosecuted-all the channels Of trade guted
with coin-no foreign debt to pagan honest
Government in pOwer-with tariff just en-.
acted. almost equal to that which lifted up
the PROSTATE country from the very chaos
We have described. All. these elements
Of strength aud rccupcratiOn were then
abscnt-now they are all present. The single
incident TO mar this extraordinary coalition for
insuriDg q brilliant rational prosperity, is the
presence Of mob Of traitors organized 90 de-
stroy the Government. But we forget that the
power 10 suppress is greater than the power to
maintain the organization; that though the latter
be- violent, hostile and aggressive rs oil mobs
are, yet that the former still lives and fourishes
with an undying vitality. Courage, friends
Weigh the disastrous past with the not hopeless
present, nor the yet blackening future We
have reached a great turning point in human
progress, and rest assured that there ia more
than one way by which TO go forward, main
tanning every principle yet escaping the Pecu-
mary ruin for fear Of which many Of us are so
unnecessarily alarmed. The Enforcement of the
Laws cannot ruin The North, and separation
will but cut us fairly loose from the very
curse against which We have protested.
Courage, fricuds Some redeeHiing alternative
-. hon