Green-Mountain freeman. [volume] (Montpelier, Vt.) 1844-1884, 1864-02-09
The Probability of a Financial Crash.

al States appear specifically to be in prosper
Gus condition, that such is not the fact. That
while the government is engaged 10 the sup
preston Of rebellion Of unexampled 6erceness
and magni tude and is constantly draining the
country of its Iaboring and producing popula-
ton and diyertlng It's mechanical industry from
works Of permanent value to the construction Of
implements Of warfare while cities are crowd
ed and the country is to the same extent depe
ted, and waste and extravaganza prevail as they
never before prevailed in the United States, the
nation, whatever may be the external Indca.
lions If not prospering
The war in which we are involved is stern
necessity, and must be prosecuted for the pres
eryalon OF the government no matter what may
be its cost out the country will unquestOnably
be the poorer every day it IS continued. Tho
seeming prosperity Of the loyal States is owing
mainly TO the large expenditures OF the govern
ment and the redundant currency which these
expenditures seem 10 render necessary
Keep these facts cons antly in mind. aud
manage The affairs Of your respective banks
/ with perfect Consciousness that the apparent
! prosperity OF tile country will be proved to be
unreal VIII the war is closed, ii not before
and BE- prepared, by careful management OF the
srust committed TO you, to help to save the ma
ton from financial collapse, instead Of lending
| your influence to make il more certain and
more severe"
Whether this apprehension is a just one, to
the full extent setl forth in this extract or wheth-
er It's to some extent exaggerated, i. is At lsast
worthy OF serious consideration by the CONNER.
cai interests and the mouied institutions Of the
Country. Iii hardly Wise, and certainly not
strictly correct to speak Of the financial condition
OF The Country IS healthy, though apparently
prosperous nor is it, on the othor hand, either
truy Or wise to declare that the nation is rapid.
ly becoming bankrupt, and that is apparent
prosperity IS wholly delusye This real truth,
doubtless, les between these extreme views III
The opnmists on the one hand and the croAkers
Oh the other but wherever it is, il Is worth
hunting after BY prudent men, who may thus be
ablo to hide from the evil which they foresee
The Prominent fact to be considered in at.
tempting to reach a correct conclusion respect
n5 the real financial condition Of tho Country.
y that q, least milioa Of men BY the necs.sl-
ties Of the saF haye bseo Withdrawn from the
community Of PRODUCERS, and become wholly
s'''''''''s hNue''' 'h' D'ay OF men, repre-
''''''s . p'P''''''" = nearly y not quite i've
IMMUNE '''' ''PP0''eu g '''eNe' ana their
families ~ actua.y creating a. much wealth,
''i- - ''o' 'i'ls +Ay'"lAs % Ihe aggregate ac
ouin.'o'' rs ~ 'ov oouh'fJ'S q ieast taxing moth
w IRON 'nem' ioi' y now undoubtedly 81
F7iy ne"'y 44alh upon we resources OF the IA
''ol.
Du' '--'o 10 -A1'"oi 'a'so scarcely ie" in
amount thah th' foregoing W. Che trsmen-
O'u' INSTRUCTION y al A'Ads 81 pF'psFy' espe-
''AnF material 2 var, IN the process Of sup
pressing reason "l'aout oAlti9 TINS waste
: 'u'' mus 'A4 Y ny iAlu ''uBh' Ali1 u al.
ln's' u7ues computation war 49, at tho best,
wy y ''' 'H's' i'.'' 1''''' asgnel" s'' on loot
y '""' anu '"u'' any "nefe oe prosecuted
"'N0l' sever a'A'n upon 'ae FINANCES OF the
~ y "''1 op' - s'sau"V 70 l's if0'
''"s 's0 oo0''n'' o's's more
-''"u "'3 e's' enSAseu ~ oeiofe'
'"' S''' u '"' war, 'ne destruction OF prop
'''sn''Ns ~ anu 'ne 4eSsshea
F'0-'' ''''' '''''i " y arg represented 70
s'n'leFaOi9 extent " The debt which the gov
o'"'He'.. j. every oa! mourning although there
arc ou's'le OIL 'a''' 'he large sums paid 10 local
anu o'a'a u9Ahhes, the CUTS 10 The soldiers con
tnutHi SEM lotrard lfoI nome, and the CHAIR I
'''s ~ I'ooFa'iy bestowed through the Sanitary
anu NnF's'i@a COMMISSIONS ior the help ot the
SICK ana wounded OF tho army sod these sums
WIN p'ooAoi' amoan' IN al TO o hundred mil
Mons "nhuA'iy
lhese gigantic disbursements OF the Federal
oo'ofament ha'e greatly sumulatei several do
pa''meo's Of labor and many branches Of BUSH
H'sa' "4u' many men fich through great adyas-
0e' ~ prices Enhanced tho value OF labor and
given 'no country gu appearance, not altogether
""'0''' u e''a' ilo'perlty' we hardly think,
uO"V'ef' Mr' mccullough " right IN saying
'"A' waste anu e1Ta'aganee exist now as never
before, those who have mossy spend it freely
J0'' Us NOSE WHO nad 1t before The war used
20 0ss II literally, but there Is another class and
mueh larger one, who are obliged to, and DO
employ every possible mesn' to make the amount
81 Their annual expenditures no more IN the
present currency than they were when GOLD ana
sliyoF were the standard Of value. We do not
believe that individual Indebtedness is aecumu-
iaihg any more now than formerly, and the ex-