The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1856-1888, 1863-09-24
Military vs.. Mercantile Success.

Our Federal arms have at length achieved q series n brilliant
aid substantial victories, which would seem 70 be dec sivs Of the
fortunes Of the war, and the popular heart 10 swelling with ar
dent hopes Of a speedy return Of peace and national unity;
long deferred, and involving sacrifices the most costly q civt-
rred people we're ever called to make. the BLESSINGS which It
a critical thing to eng, * in war. so it is a critic~, operation.
relations which a state Of war ensendsrs, ahh emerge suddenly
into the full sunlight Of peace. There Is no such thing under
ward to The event -heh above ali others is uppgrmO.t in the
aspirations Of every patriotic breast, It becomes US 20 100. aso
10 the dangers which envfon cur new position, and 70 o pre-
In the general .taguation Of business caused during the past
week by the announcr nsut Of Federal Victories We have exPe-
ri<ncrd a foretaste Of ne commercial arrangement and depres-
ei1i s1isa and and ne ,eG resa% Of Z the Ssasss to their peaceful Tsls-
lions Ho=ever successful the North may be ir This struggle,
the ultimate cessation Of hostiEiies, bringing with ii a sudden
and violent transition from that order OF things &c which the
iusted. cannot fail 70 be temporarily disastrous 70 the interests
n.ar Is not, az asserted By some philosopher, the, normal
condition Of the human rae, with Us it has become, a. least for
the time being, the normal condition Of traffic, Of finance and
industry, which, equally with our army and navy. are placed
on a war footing Operating on this basis, the I0,ai portion Of
Toe country as bern and Continues tn he prosperous in Gil its
enterprises and reiattlns and We question whether there has
ever be, n a period in its history when more wealth has been ac-
eunuiated IN mercantile, manufacturing and agricultural PIT
cults, than during the Continuance OF this var.
But with = radical change in this basis must Cote a reaction
Of the two former cIa-s-s- Enterprises which have been evoked
or largely stimulat-i BY the exciting condition Of things will
some incidental CT artificial wants VII vanish like the morning
iioni prom snG specuItti1us will come TO naught, and stocks of
goods Of various kinds will be q rDwn upon the market at q
rutnous sacrifice Sellers will multiply or every hand. but buy
es will be equally diminished: and NO to that merchant and
MANUFACTURE Who from i graspiug desire TO Orestall the mark
cts ~ monopoly and accumulation. in that day of decline in
eozmeret'I values shah be caught with heavy STOCKS, either Of
fabric or raw material on his hands. which, during the rule of
high prices, he might have Converted into gTevubscks and
satrd down In real estate, stocks or government securities
Equally faaI viii be ;he dawn Of peace 20 the aoarder AMI
Spectator in specir-ss gold at l31, after a favorable turn IN
the tide Of war, vii hear witness. Nearly the whole govern
nent debt viii then lie funded; the excess Il pa,er currency
vii at once be converted into int.rest-paying Federal bonds,
an the gold dollar will be worth 100 and nothing more
The people, who hold the Governments promises 20 pay bear
INK no Interest, will not be 81 stupid a to use them for currency
ami are not at the present time. q 3 the immense current sale
OF DDS Clearly denonstrates-Shen they can just a. well ex-
Change thrm for interest bearing obligations; and the result
rlust Be that, at the close % the war, legal tenders SIi be with
crawn fTn circulation and their place supplied by seieenaoIe
oans paper, 50 that gid will rule AZ par and conEle=ciAI values
stand uDou a specie basic
Peace mu : come sooner or later. Il will be 4 gea; gSin
% The Country, though necessarily attended With some
snail loss. IS every good has IT'S attendant ILL., Tn. sooner it
comes the les violent will he The transition from the established
order OF things To the new reriue. which IS 20 succest u.
Hence e admonish our commercial friends TO lie prepared for
u a well az may he practicable under the circumstances, and
az any rate. 1os 70 De caught In the prviicanent Of The 4" foolish
virgins" who, WHEN the bridegroom came, lad no oil Sh-resith
% FsPls1ish thsE lamps-BostoH Gem BuHstin, Jaiy II.