Daily State sentinel. [volume] (Indianapolis, Ind.) 1861-1865, 1865-08-19

twenty thousand 'o"@'s Vi " al '"@i
bills"
Mr. cattnach. noticing one package marked
$40 900. said, ~ ell, that's not very small;
see it's marked $40 900. and there's another with
nothing but FIVE hundred dollar bills in il"
"Ot, we'll" said Keichum. never mind
how much money there is: ! wan. 70 &c, toilet
bag"
A number Of toilet bags we're then shown
him, ard, after examining them he said: 81
guess III purchase plain bag; let me see what
you've got"
HshSall, selected a No. 4 Pelessier bag. about
tveaty inches in length. foot in width, aud hav-
ing an expansive capacity OF about loot. lie
paid SIC for il, sI dollars Of which be took
from bis pocket book. and ten dollars from one
Of tie packages OF money.
soLAcK ron TEAkFUL FIsAScIKRs.
Let US stll remember that il is almost an 10
fnitesmal fraction Of people doing business
vho have been In any way connected IN the re
cent failure. and foliies Ten thousand checks
are on the market every day; not hfty have been
proved unreliable.
rHE LAST LEssoS.
We do. however, see the cousumation oil TIE
prophecies long uttered, and by too many re
ceiyed With sneers, of the danger Of an unlimited
paper currency The country 10 glutted with
greenbacks; they fill the peoples minds With
vague and unveritable hopes OF immediate wealth;
they degrade labor and defy speculation; they en-
courage lavish expenditure and large accounts
aud make economy useless virtue; they mako
money attainable but not valuable; they have,
despite the approximation they have attained in
quotation to gold. proved that the capital OF the
time il very uncertain, and this is further devel
oped by the enormous difference in the price OF
real estate, rents and necesssries. which should
exist. and which exists. The money we have 10
regarded as something to spend; not something
TO keep.
THE MORAL LKssOS Oh TEX DETAULrtR.
Ii has been pointedly said, also, that these
failures and financial crimes show how intimate
ly are associated the monetary and the moral in
terests Of the community Too much money
makestoo much luxury; too much luxury too
much license. The fruits OF gaming. whether on
Change or At the card table, are always expen-
ded in base pleasures.
THE Evils or THE SUMNER FASHIONS
To appreciate the directness of this inference.
let anybody follow the chronicle OF pleasure at
the watering places Heretofore we have sought
the mountains, the springs. aud the seaside, IN
der the plea. however specious, of health. eIer-
else, retirement. This year has marked a series
Of festivities as wild and dissolute they are
uneIampled. The republican simplicity Of these
not represent the national temperament of the
country; ito gravity scrupulousness, sobrieiy and
quietness-rather the fetes OF Baden Baden. the
eItravagsnce Of Nice. the vulgarity of Brighton
and Ramsgate, the excuses Of Schwalbach and
Homburg.
The Quaker solemnity of Cape May is revo-
lutioned by summer masquerade; Atlantic
City is given over to importations Of mechanics
wifes in scarlet; Saratoga is filled with faro
not Of nd Al
rioutously az Chan,illy, or Epson; Newport is a
city Of ,oues, not OF invalids our hotel system,
which was orr boast, has degenerated to a pro-
fesson Of monstrous extortion. and those who
cannot eclipse their neighbors in display strive TO
do so in coarseness and crime. Even the minor
watering places must have their q" courses
where mob beneath tina ladies' stand fights for
largess distributed by the disciples of shoddy.
We owe this business carelessness. this sacrifice
of propriety this recklessness of that formal Ell.
quette which is the outward symbol Of moral
dignity. to the curse of paper money with which
the republic is deluged
THE PATRIOTS RETkIBUTIoN
And here we may see that the vice Of specula-
ton in the national disgrace is working out its
own terrible retribution
The father of the latest defaulter is Morris
Ketchum. who is generally regarded as the New
York adviser of Secretary Chase, the attributed
father OF greenbscks, but their real progentor
was the New York capitalist. His policy
mistake, we NAV grant, and not q private de
sign but its issue is no less personal and appall
ing; his old established house is one Of the
first to be crushed; his son among the fore
most to example the paper contsgion. Whom
the gods wish TO destroy they first make mad.
The Ketchums. father and con, we're prom-
nent members OF the Loyal League, an orgsnza
ton which branded malcontents and traitors
all who raised a voice against the wastefulness
of the Executive and the prodgslity of the Ma
tional Treasury. The greenbscks they multi
piled have sufiOcated them.
HOW THE GREAT rANics BEGIN
We may also recall the fact that all great
financial panics commence with private default.
Individuals go first and the community tumbles
after them. This was the case in 1851 where
the primary calamisies were criminal and not
accidental. So in previou. crises. There is
seldom physical terror which is not aggravated
by a moral one. Business is not succession OF
isolated enterprises, but thing of unity
From natnre's chain whatever link we strike
Tenth or tenth thousand breaks the chain alike"
And so with our monetary system: il 10
scarcely possible for three or four such episodes
we have had to occur without a general open
ing of the fountains of the great deep.
Tux SKw AMERICAN ARIsroCRAcY.
Apropos of these latter Developments we may
remark that almost every one Of them shows the
tendency OF business men to fight the tiger .
The faro-banker is received by many stock play
ers as knsman Last week We read that sn
EI President. Senator. and several other dis
tinguished gentleman. took dinner, at Saratoga
with Mr.. Morri,ssy. A gentleman may still remain
gentleman after every association but this init
macy OF great folks with one who, whatever hi:
geniality and good manners. does not deny that
he plays cards for living shows a change in
the social charity of the time and an extension
OF gentle1snlIness more startling than refresh
ing The whole lesson of this folly il told in
the case of the late A r. Stone, Of Columbus
who ruined himself and his creditors first, and
then killed bis body A newspaper account
says:
he was quite too fond of drinking and card
playing. and played for money His fine ner-
vOus organization was easily affected by LIQUOR
then generous and free-handed as be was, b,
was an admirable pigeon for gamblers 10 pluck
About year ago it was observed with deep dis
tress and unessiness by his near friends that hs
bad taken to hard drinking and gambling. An
effort was made TO reform him and for time il
seemed 70 succeed. he was sober and attentive
TO business for perhaps three months, but re
lspsed. and from that time his course was "a
| pidly downward.
"On Monday night. July 81 Mr. Stone made q
last effort to retrieve his fortunes st the gaming
table He spent the entire night at a gambling
house in Columbus, and lost 50 600 Two day.
afterwards he was no more"
Aud gossip says that young ketchum's embar
easements were not entirely dissAssociated FINN