Tama County Republican. (Toledo, Tama County, Iowa) 1867-1872, 1869-11-04
Financial.

The depression in financial circles
although not quite as stringent as last
week, is still acute and fast becoming
chronic. The lateness of the season
and probably early close OF the Erie
canal, renders it extremely proDlemat-
ical, whether there is to be very much
of let up before the opening of navi-
cation in the spring.
That there is an abundance of prod
uce IN the country to liquldate all the
pressing Indebtedness Of the commit
nifty, even at present prices, ifaveraged,
is not to be denied, but the extreme
slowness which attends the threshing
and moving of SO vast a crop, and the
low price at which greater portion OF
it must be sold will not bring in money
as fast as its transmission east is deman-
ded to discharge eastern indebtedness.
For this and other reasons we might
adduce, we see no prospect OF any I'M
mediate ease IN the money market
Hence we conclude that the situation
must be accepted, bad as It is, land we
should be thankful that it is not worse,
and that we must take the sacrifice,
pay our debts SO far AS possible, and
save litigation and costs, which must
follow refusal.
Our present situation as we have be-
fore stated has been complicated, by
our over anticipation of our income,
which in nine cases out OF ten is sure
to disappoint us in the realization, and
subject us to sacrifices to meet. Ii
this toretaste OF hard times will have
the effect to curtall expenses and learn
us to anticipate nothing, it will work an
untold good to this community. Pay
as you 90, then you are ever in posi-
ton of independence.
Our farmer friends have discovered
ere this that there is some sharp dun
ning as well as sueing going on, and we
wish more fully than yet has been
done, to explain the reason why oul
business men, whose hearts are large
as well as noble, are compelled to push
their customers. The business man us
ually buys his goods and groceries on
80, 80 or so days, as the case may be
giving his note, which is usually dis
counted at some bank, ana when due Il
not paid is protested and collection
forced, by compelling the party to &C
into bankruptcy, which of course ruin.
hlm. We give acase as anlilustration:out
OF our merchants finding himself with
his protested paper, thought OF course
to take advantage OF time i'll obtaining
a judgment and stay-but he soor
found that under the general bankrupt
law he would be forced into bankrupt
cy, and of course financially ruined
the money had to come no matter Al
how high a rate OF usury. This is the
situation our business men find them
selves in to-day. Is 1t any wonder
that they lun and ,hrcaten.-thcis very
existence AS business men compels then
to resort to the law. The sensible read
er can see from this thallenity on the
part OF the business man is his certain
ruin, and cannot be expected. Sci
preservation is the first law OF nature
We are sorry to feel compelled tc
chronicle such astatc of affairs, yet Just
ice to the worried aud distressed busi
ness man, demands it. Pay up ant
that at once. is now the word-,host
who do'it will continue to be tayorct
by their creditors, while those who IL
not will be cut OF with bad name
Marshall Times.