The weekly pioneer and Democrat. [volume] (Saint Paul, Minn. Territory) 1855-1865, 1864-04-01

SAINT PAUL
Saint Paul, Friday, April 1. 1864.
ga Penny saved IL q Penny Earned.''
Now n tho limo to Practice IL.
Every exchange we receive from the
larger Eastern cities has lately been des-
canting upon and warning the people
against the inevitable consequences of their
present unexampled extravaganza. There
seems to be something about the reckless
manner in which many of the Inhabitants
of those cities squander their legitimate in
comes or lily acquired gains, that is actu-
ally appalling to every prudent and reflect
ing mind. As though the present time
was an appointed season for one grand car
nival Of spendthrift indulgence, these PEG.
pie, in sort of mobilize extravagance,
rave and contend in wild rivalry of ex-
cess. Houses which heretofore were con-
sidsred palatial, are demolished, seeming
ly for no other purpose than to make room
for structures, whose style and ostentation
affords opportunity for greater and even
fabulous expenditure ofmoney. Diamonds
glitter on hands that lately were familiar
with the wash-tub and the anvil. Wives
roll in gorgeous equipages whose husbands
were but yesterday the drivers of .drays;
and respondent dresses shine and flaunt on
backs which have scarcely dried of the
reeking sweat of toll, in the kitchen or at
the mangle-
These things strikes the mind of the
patriot and political economist with an al
ternate sense of the dangers Of sudden
wealth, and of the popular want of appre-
citation of the real condition of the people,
as individuals and as a nation. The wise
and cautions viewing these incubus like
scenes of improvident folly. are constrained
to ask themselves, do these people be-
lieve.these unnatural and unhealthy orgigie
of sudden affluence can endure forever?
or have these people in the bewildering
frenzy for acquiring riches lost with their
patriotism, all confidence in the future so
that like the refined barbarisms of fallen
Rome, with morbid, cowardly selfshness,
then have given themselves up to the ex-
travagance and self indulgence of the pre-
sent times with no care or hope for pos:
terity or their country?
1t is true this epidemic of folly has not
to any such degree as that of which we
have spoken spread ont to the communi-
ties of the extreme west, but let as re-
member what experience has always sooner
or later taught us, that whether we may
have any share of the sweet but deceptive
fruits in which our eastern neighbors are
at present INDUCING OF not, yet We are
sure of experiencing our full complement
of the evil consequences of thei. indisere-
tons. Without having any great partici-
patton in the benefits or temporary advan-
tages that grew out of the immediate
causes that lead to the revulsion of 1867,
still, very contrary to financial prophecy
and much against the wish and will Of us
all the consequent hard and stringent
times did at last come along like the lava
of an erupting distant volcano, creeping
into every city, village and hamlet with
slow but sure destructiveness.
But before this may happen, there will
be many an example of similar extrava-
gance in our midst, which, with all the
force to pervert and weaken, that evil ex-
amples usually have, will assist, along with
their own direct consequences, in tempting
our people from that inhexible economy
and provident forecast which we fear can
alone be able to carry them through what
seems to be yet inevitably to come of f.
nancial distress and hardship upon the
country, throughout its whole extent from
East to West.
1t needs no argument to show how this
uudIlCIdl CIlSic 10 " tOuic III IL IS fclnem-
bered that the failure of the Ohio Trust
Insurance Company and the suspension of
specie payments by the banks, caused
monetary shock throughout the whole ma
ton, which bankrupted all classes by the
thousands, and in our own State literally
destroyed one half of what we regarded
the actual value of all the real property in
the State, we can very readily discover
what will be the result upon cur property
and currency when the ultimate necessity
of direct taxation is strenuously put in
force, SO that property shall bear one halt
of ito present value. For, notwithstand-
ing whatever partizan or sophistical dill
tamil fianciers may assert to the contrary,
there is no scheme by which the great
debt eft the Uuion can be paid, or even
kept down by discharging the accruing in
terest, without detracting just 50 much