The mountain Democrat., 1864-06-04
From The n. 7. Journal Of Commerce.
The Financial Frenzy,

not be tolerated. When this initiation
began, the first experience was a sense of
cxhilaration. The experiment would have
been far less dangerous but for its intox.
icating character. Were the beginning
oil a debauch attended with monitory
pains; did the first draught taste of the
awful bitterness which comes with the sad
reaction; or could the reason continue
unclouded until the limit of pleasure was
reached-surely,no one would be drunk.
ard. The danger lies in the seduction Of
the senses to which the first miniStruiion
is one Of delight. The cases are parallel.
When Mr.. Chase inaugurated his policy,
the warnings Of experience we're drowned
IN the popular ordinations which follow
ed the pleasant excitement. AS in the
first cup there is fresh hope, increased
riches, and less recognition Of pain or
weariness, SO the inflated currency car.
ried Stimulant which, at the first, was
doubly welcome, because Of the prevalent
depression. The second draught was
quickly swallowed and there was glow
Of generous excitement. Mr.. Chase had
discovered the tonic which was needed to
establish the nations strength. If here
and there one admitted that too much oi
it might carry the nation off its feet, few
were found to deny its sovereign efficacy
as an invigorating remedy for the weak
ness that had come upon us in the sudden
call to the field Of strife. And the bowl
was drained.
Then came another stage and the quick.
cncd circulation needed more Stmulant Ia
prevent an unpleasant reaction. Again
the cup is filled, and this time there is far
more enthusiasm. The smile has given
place to laughter the pleasure has deep
cned into hiIarity. Caps go up, and the
chorus OF praise to the inventor Of this
specific is louder than ever. Even the
most thoughtful are half.convinccd by the
popular JOY, and begin to question If the
stern laws which punished such excuses
in the earlier days may not have been re.
laxed for this generation or if the Law
Givcr is not about to make an exception
in our favor by special miracle. How
trade thrivcS and values increase! There
is scarcely need of severe toll, property
gains SO fast. There is no call for ccono.
my in the midst Of SO much abundance.
Who said that war was a dcsolatng
Sconrge! Why, 1t is positive blessing.
since we never were 50 thriving, prOSpur.
Gus, rich, rolling in luxury as now How
dainuly we live, aud how poor seems the
pttance which rewarded the old indus.
try. Let not the conflict end too soon {;
once, the establishment Of ri.htful author.
4 ln,,. soA !
the Su'iugatiOR oil all o:hcr interests if
you will; we are rich enough to aiIurd
THIS treat to those who have brought such
resources within our reach
But there is no chance 10 pause, and
there came another stage. Then some
hesitated and would have gone back to
>obernc>s again hal they only possessed
the necessary courage. As they took a
few steps their hearts failed them. a rrac.
tion is 81 painful. The relaxed nerves,
the Sunken features, the tremuous hands,
the shaking knees. aud the consciousness
Of pain, and weakness, and poverty
thcs- must all be met and borne in that
return Ia sober realities. Better have
another drausht Of the Stimulant; it will
. w hlliIS Nlh'uEli " OS SOOCI W lICll TIE " ~
is over. Mr.. Chase protested that his in.
vcntiun was designed as a tonic, aud not
fIr a constant beverage; but he >iiil kept
the cup Ia the public lip, and ti!icd As Of
ten a they would drink. Aul then mad
ness came. We need not describe tins
scene for it is before uS now. The rcvcl
is gayc>t in all the large cities, but the
excitement is the same in kind through.
out ail the country. Oar exchanges eve
rywhcrc describe it in glowing language,
and We do not care to dw,ll on The pi...
turc. The luxury and extravaganza, id
by side with wa':t and drStitulinn the
tccming millions and the cmptcd purse &;
the wa>Sail in the gi'ded saloon, and the
>al vigil in the deSolate garrct; the frrE-
~ OF speculation which is the natural
outcropping of this unhealthy excitement,
drawing into its mad whirl all classes, Ike
mighty malrs.rom-thc>c all mark the
progress Of the general intoxica;ipn.
i Now there is alarm, and nany mi>giv.
/ ingS in regard TO the future. Here an
I there one will still insist that imitation i,
very good thing, bat mo>t Of its stcadi.
est advocates praise it with bate d breath.
Some will admit that it is an evil, bat il.
siSt that it could not have been avoided.
and urge that t he let alone until the war
is ended. Nearly all of the ranIil and
thoughtful will confess that it waS a sad
mistake, and one which is likely to cost
us dear. They must do something more
than this, however, If they would prevent
the final catastrophe. For there is an.
other stage, even beyond the dcliriunl
which marks the present hour. That
stage Of intoXicatiOn resembles death toe
much TO neel de>ci iption here. Snutting
our eyes will not prevent its approach,
and it will not be let alone if We shrink
from it ever SO nervOusly. There will
come time when the stilnulant fails and
then imitation ends in sudden collapse
! 1t needs no prophets pen to de4slibl
the closing scene, if the process goSsSShn a
little longer. We will not give il, lest We
seem to create tat which we should but
depict. The people need arou>ing every
where to sense Of impending peril. 1t
will not do to trust the Congress to cx
tricate us from the dangers that environ
Us. That body is variouSly composed
some members are mere politicians; 9th.
ers are reckless; and those who are hon.
est lack practical knowledge Of the way Of
escape, or are too diStruStful of each other
to act in concert even il they had Suli
cient numbers to control the legislation
And the nation is tritling with its destiny,
while men Of influence and practical wis.
dom shrink from assuming the respon,i.
biIily to which they are called by the cx-
igencies Of the hour. Let none say that
it is now too late; this paralyzng plea
has ruined many whom vigorous effort
might have saved And let none be de-
ceived with the hope that it will he time
enough to act in this matter when the