The star of the north. [volume] (Bloomsburg, Pa.) 1849-1866, 1864-04-27
NUMBER q
Our Ffis+af.tal Dane,r.


as the Niagara liver approaches the plscs
where il sheets over the rocks, the boa:maa
is warned of bis danger by siie incfessing
svitiue.s Of The current. Fl he gives heed
in season, he may steer hi. boal safely 10
land, bui il sometimes happens that he al
lows himself 10 be carried SC far. towards
the precipice that no stfengi5 of arm can
avail him to escape, and he is swept over
the tails.
We of the United States, financially
speaking are in a boatiwhich rapid cur
rsnt j. hurryins towards precipiee. We
sneak not SO much of the credit of the gov.
eminent as OF the sra,s Of onr cnrrency--<
A. q measure OF value, our currency is per-
forming the sane par which il performed
tweniy-fve years ago The cessation of
specis payments has hrnush, into foil play
its quaii,y oi elasticity, and its expansion
has changed the price of everything. The
necessaTies'oi life grow desreF in night.
Those who live on fxed incomes, those who
receive salaries, lhos. who csnno; easily
increase The compensation toS he services
on the inieres, {. Moderate sum Invested
in any manner, wake up on foe NOM
ing and End themselves soddenly poor
The evil Increases fson dEy 10 day, and We
see no remedy likely 10 be applied. Wheih-
ef the mischief is beyond the reach OF
remedy ws VII not undertake TO say, bnt
,his we must say, that tie curren, is rapid,
thsl lie ss7ifiness and force are increasing,
and the boat il which we sii is drawing
nearer and ncss-r 10 The p.ecipice, aud that,
unless tomrihing effec.nsl be done, i, slIi
90 down with lhs " s,e:s 81 which it is nos
hoaiins.
Ths nania Of speculation and iha infla.
ZION of our paper currency reactins on each
olher, with ,he fa,l leerss which al ex.
smpuon from The necessity OF paying sps-
cis gives them. ex plain ;he p5e.en, Stale Of
the money market The is.Ie Of Govera.
mont paper no dou5t has been kept within
| moderate bounds, bu; the liberty, which
The Government has claimed, Of rot paying
It's foles in coin, has been initiated By the
| banks ali over tbs coaaIry, and there never
yet vas a suspension OF specie payment
| wilhoGi az inflalios CT The currency. fic-
| ,i,ious rice OF prices, speculation s;imuls-
ted 10 madness, tpecula;ors suddenly be-
| coming rich or ruined and The moro indus
| .rtous aud regular Part of The community
| i'm 3overi,hci. The CID State banks are
ponring lourih their Issues with no resfon.
sibiiigy FOR The psyrueoi Of their noes, the
! new banks, created under The law OF Con-
gres. and called natiosal banks, are imilai-
ING their example, stocks rise, tho gamblers
of ,he r1ocey market beat backwards asd
for yards tho shuulecock OF speculation,
striking il higher into Ihe airqwith every new
| blow. The nece.ssries of life grow deaser,
the STEAMBOAT. increase iheir tsre, The very
omnibus owners nearly double theirs, and
he v no paid filiesp ces,a-s ponnd for su-
gar ten days since, pays twenty five cents
a pound to-day.
When wilt ,hi. k,nP and where's II will
not probably stop I'LL il is checked oy
| panic and : cra.h--by the ruin OF many,
! general loss -oi coulidsne- and sulien ane
/ gloomy le,hatgy pervadtng ali branches OF
j coinmeics That is The ordinary expeTlenee
IN such ea.es-,hs, is The naluG resnli OF
| all The e1perimsn,s made OF bnilding credit
| on any other basis than the old-fsshioned
one OF prompt and due Psyr'en,,
/ But is ;hcre no renseJr, it wIll De asked.
I no way cf preSeniips The evil from reach-
! ing 4 pr.aier hsieh, bringing back the cur
! reacy TO a more wholesome stats, aud curb
! ing This madness Of speculation, without
I convalsion4 Oor readers know what our
! opinions Of ihis matter have elvsJs been,
/ and We have s-eu 40 reason to change them:
( The easlJsf the mistaken step oi currency
! without basis IS rslraced. the less violent
will be the CONSTITUENCIES 70 be aP?re-
/ hendeG. We know that SOME ecnie ihink'
ers are OF opinion lha, the;e are other meth.
ods which will eiTec, geatler cure. lsi''ns
down spec elaiion easily from iis fal.e alt-
/ ,ude. instead c. dashing il in pieces, III
! there are, we should be most happy TO see
them ;.ied The present state OF things
; should not be allowed 70 last
y