The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1864-06-30


become impatient, childish and unreasonable.
This truth has seldom been more observable
than now. We stand on the threshold OF great
events. The sky is full Of portents, and the
hush Of expectation In the air. Two cam
paigns are already in progress, the results OF
which cannot fail to be Of the highest impor-
lance, not alone to our beloved country, but
to all mankind, now, and in coming time.
Gen. Grant, standing on the vantage ground
which he has gained by approaches SO steady
and skillfal, is coolly preparing to deal his adj
versary what he intends shall be final and
deadly blow. The shock OF battle cannot be
long delayed, and Its result is to decide wheth-
er we are TO hope for an early and lasting
peace, or whether we are TO brace ourselves
for new conflict with this hideous monster OF
rebellion which seeks the nations life.
In the North, too, conflict equally momen-
tous is already begun; one of those fierce but
bloodless contests which in their extent and in
tensity are seen only IN this country. just at
military question thrusts this other somewhat
out OF sight. Yet its importance must soon
assert itself; and every inch OF the field will
be contested with grim tenaelty surprising,
perhaps, all previous encounters. For the is
sue Is one OF tremendous moment 1t Is
Freedom and Ssvery joining In the death
grapple. 1t is the hand-to-hand conflict be-
tween the powers Of Darkness and OF Light.
BY its result the American people are to de-
clare whether they are willing 10 renounee the
glorious principles for which their. fathers
wrought, or whether they are ready to re-af-
firm them to the death, in the face OF every
traitor.
And while In the military and in the polit-
ca world such forces are gathering to the on
set. the financial question becomes hourly more
pressing. In saying this We do not mean to
DIN in the cutlery OF those who are prophecy
ng for US all kinds of financial disaster, who
sell US that gold is steadily mounting and pa
,er currency viii soon be good tor nothing,
hat trade and industry win be paralyzcd, and
hat universal bankruptcy and general starva-
ion are just at hand. Such direful prognos
les are from one OF two sources, either the
malicious misrepresentation of those whose
sign is 10 cause disatiection or panic, OF from
ne exaggerated fear Of the nervous and over
ind.
We earnestly beg OF all good people not to
.llow themselves to be frightened out of their
-elfpossession. 1t is quite true that gold is
lancing up and down in the most eccentric
nanner, aud that from over imitation and 9TH
II causes, the paper currency /. deprecated;
out 1t is also true that business is unusually
sood, that trade fourishes and manufactures
Increase, that wa es are high, and agricultural
PRODUCTS command the best prices, and that 10
,pite of all unfayorable circumstances, mer-
:hants, ma auacturers and farmers are grow
lag rich. 1t Is also true that the gold 10 the
COUNTRY is but minute portion Of the nations
present wealth, barely appreciable percent
,ge III in fact, and that the greatest resour-
,es Of wealth are as yet almost untouched. For
Ehree years past the nation has not staggered
md groanei under the burden OF war II has
fitted that dread burden lightly on its young
Atlas shoulders, and borne II onward with the
sasy, elastic consciousness of a reserved
strength which /, equal to all emergencies.
But with all these facts in our favor, which
we enumeratc for the benslt OF the timorous,
II must be admitted that there is in our midst
an element OF danger which we are too much
Inclined 10 overlook. This Is the insane spirit
IF Speculation and extravance which seems TO
nave seized on all classes of the community.
md which maniiests itself in almost every de-
1artment of life. Notwithstanding the high
price OF gold AMI the deprecated currency,
here is recklessaess OF expansion In all the
circles OF business which touches the verge of
madness. The inevitable drain upon the re-
sources of the country which results from war
$ ina measure compensated by the stimulus it
lives to new forms ofindustry, and the open
ing OF new channels of trade, and 50 we have
continuance of prosperity; but II these adj
vantages are 10 be pushed beyond their natur
a bounds, If this prosperity is to grow fever
ish aud giddy, the disastrous consequences
cannot be ayerted. We seem to see u glaring
red light out ahead, sure signal Of an inevita-
Die destrpction ifthis headlong speed is TO be
maintained. Let business men take warning
in time. And the folly is not confined 10 the
circles OF trade. II msnifests itself in lavish
ness Of private expenditure such as We have
never seen. Tie demand for Injuries was aev-
er greater; the hauuts Of pleasure, and the
places OF amusement were never SO full; the
rivalry OF fashionable display never more ca
ger Extravagance rules the hour. lin these
unsettled times such course Is censurable for
its imprudence, what shall we cay Of its heart
'essness? When the nations lie hangs tremb-
ling in the balance, when anguish and mourn
ing are in SO many homes, when so many thou
lands OF our sons aud brothers on hospital
beds, in lonely night-watches. in the thick Of
he deadly charge, are Offering up their lives
or US, is it at that we whose safety Is purch-
aSed hv thar sarrificas ahould oiva orrsolras