Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1861-08-22
FA1LyREs-M AKING UP THE ACCOUNT

FAILURES-M AKING UP THE ACCOUNT.
The South are making up fearful account
for future settlement Every day is adding to
the enormity and wickedness Of the greatest
and most inexcusable rebellion the world ever
saw. Millions and hundreds of millions of
money are to be wasted, and the whole nation
North and South, East and West-will feel,
for an untold number of years, the pressure of
n debt contracted during this eventful period.
It's burden shall fall alike upon the rich and
upon the poor; and what burden of sorrow
it will be in many cases Every article of
dress and almost every necessity, Of life as well
as every luxury must be taxed to meet the
greatly increased expenditures of the Govern
ment.
The way is now being rapidly prepared for
this future thorny path. Hundreds and thous-
ands OF business men are falling on every side
sacrifice to this great rebellion. Men who
thought themselves rich year ago are now
through no fault of theirs. poor and dependent
upon friends for daily subsistence. The city
of New York passed through terrible ordeal
in 1857 but, terrible as it was, it cannot be
compared with the present Not only very
large number of failures have already occurred,
but if the present ate OF things shall continue
much longer, q general crash must inevitably
sweep over the whole land. Those who DO
stand will be the exceptions to n general rule
Men who owe comparatively but little, have
large means and host Of friends may go
through. We would that facts could justify our
taking a more cheerful view of things-but
they do not.
The f lure OF ClaHin, Mellen & Co., dry
goods merchants OF this city, the past week,
has shaken the very foundation of credit and
confidence. IF they could not stand, who
can ?" is now the exclamation on every side
They have m mayed an enormous business with
great sagacity and prudence, and they have, as
their assets show, steadily made money from
year to year. They may be repronched by
some for doing such an extensive bushes, but
are they worse off than others who were sun
posed to be more careful and less extendedp
Certainly not. Small failures are quite as nu-
mersus now as large ones. Can any business
man be expected to calculate upon such whole
sale regulation as that which is now the ldlo
of the whole South? Certainly not. In ordi-
nary or even extraordinary times, good live
surplus of capital will save any business firm
from even the thought of trouble but now no
man is safe who has not the money at com
mand to cancel every deb; that can be brought
against him. A surplus of property will not
do A surplus OF notes and accounts will not
do There must be a surplus of money.
The failure of the we-known firm alluded to
is a great calamity. Thousands will suffer by
il here and elsewhere directly or indirectly,
and other failures must follow, easily traoeable
10 this. Where is this unparalleled distress
and wholesale robbery to end ?-for ii is Moth
ing better than robbery. How many more must
fall sacrifice to "satisfy the demands Of the
South ?" There are now other fields of battle
besides those of Manassas and Bull Run, and
if they are not bathed in blood, they are wet
with the sweat of honest and manly labor To