Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1867-01-24
FINANCIAL TROUBLES AHEAD.

prehension of heavy financial crash at the North.
In New York one firm, which last year paid tax
on an income of millions, will this year have nc
income to pay for. Other prominent firms in that
city report sales very much diminished in amount
from those of last year. Trade has been dull-too
dull for large importers and manufacturers to dis,
pose of the wares which they have accumulated to
meet the anticipated heavy demand. These stocks
must, in many instances, be sold at great sacri-
fee, to enable their owners to keep afoat in bust
ness, unless some now unforeseen stimulus to trade
shall dispel the present stagnation.
This threatening state Of affairs is attributable to
various causes, prominent among which is the
hampered condition of the South. When the
war closed the people of this section, shut out for
four years from all opportunity of obtaining many
articles for which they had always depended upon
the North, had about used up their stock of Yam
kee goods Nearly every article in domestic use
was of the class known as "Confed, which was
not in very high esteem, as it was usually badly
made, in-suited for the intended purpose, and only
used as make-shift until something better could
be procured Of course, when peace came, this
class of home made conveniences were found to be
too zone horse" although they had done very
well in war times. Everybody who had little
cotton must forthwith sell it to buy Yankee goods,
and those who were not so fortunate must borrow
to keep up with their more lucky neighbors. The
result was that the greater part of the cotton on
hand found its way to the North for the most part
in exchange for the necessaries of life; though
some oft is now represented by fine clothes on the
70. -bo 9th north q
red cent.
This sudden demand for goods from the South
produced corresponding activity at the North to
meet it. Manufacturers and importers exerted
themselves to supply the innumerable wants of the
people whom their armies had plundered, and who
were just returning to intercourse with the world
from which they had been so long excluded. And
had the South been then restored to place in the
Union, had no impediment been placed before her,
in the shape of extra taxes on cotton &C., the COM
mercial relations might have been kept up, with
mutual advantages to both. But Radical avarice
over-reached itself here While Northern merch.
ants were with both hands gathering in Southern
money, their legislators were racking their brains
to devise laws which prevented the South from
making any more money. The obstacles thus
placed in the way of our people proved so insur.
mountable that we are not able to buy all the
knick-knacks provided for us by our loving friends
and trade has languished simply for want ofmeans
on our part But though this is one cause Of de-
preston, it is not the only one, for there are many
Others Conspicuous among these is want Of
confidence in the currency, owing to apprehended
troubles-and even revolutions, in the government.
The threatened impeachment of the President has
awakened grave doubts as to the stability of the
government. He is regarded as man quite like,
y to raise storm, when too closely pressed by his
enemies, and if Congress really attempts to dis
place him, civil war is feared. Such termination
of the glorious victory over rebellion would GER
tainly reduce ''greenbacks' nearly to par with
the present value of Confederate money.
The reckless style Of legislation in Congress is
another drawback to sound financial condition
throughout the country. A nation must be pros
porous indeed to stand the burdens which that pro.
found assemblage of statesmen would put upon it.
Almost every article of domestic production has
been taxed, except babies, and as THAD STEVENS
and SUMNER are bachelors, it will probably not be
long ere the little innocents must have stamps
placed upon their backs if they would be classed
loyal infants.