The Opelousas journal. [volume] (Opelousas, La.) 1868-1878, 1873-12-12
Changes of Fortune.
COME EASY, GO EAsY-THE SUDDEN LOSS
OF SUDDENLY ACQUIRED WEALTH.

COME EASY, GO EAsY-THE SUDDEN LOSS
OF SUDDENLY ACQUIRED WEALTH.
From the New York TimesJ
The changes of fortune during the
past few weeks in this city and other
cities have been such as to strike even
those OF US accustomed to see the most
sudden elevations and disasters among
the "men of the street, in New York.
Two months ago, in the view of the in
experienced, the, great Philadelphia
bankers were the leading national bank
achieved an unexampled success in ne
gOtiating our national loans during the
war, and had, by their enterprise and
skill, not only enriched themselves, but
done an invaluable service to the ma
tiOna1 cause. Had they been content
with this honor and with their ordinary
business, they might have retired with
each member of the firm possessed of
millions. Unfortunately the senior mem
Der of the firm was inspired with the
ambitiOn-an honorable ambition, too
of doing for America what the ROthS-
childs have done for Europe, and pro-
viding, by their own energy, the funds
which should support enterprises Of. a
national scope and Importance.
The house undertook q project which
many a European kingdom would have
been unequal to-the connecting the
two oceans with another railroad, and
opening almost a new continent to agri-
culture and civilization. At one time
a leading banking house Of, Europe
would have taken willingly part of the
load from their shoulders, but Mr..
Cookies ambition led him to decline the
offer. He undoubtedly reckOned, and
with reason, on the future assistance of
the United States government. In per-
fectly fair weather and good times he
might have carried the project through.
But the financial storm came and all his
largo enterprises were wrecked in a
moment. Other instances of changes
of fortune are quite as striking. MI.
Horace F. Clark's estate athis death was
estimated to yield an income of $1,000 q
day, and to be worth seven millions.
Now it is believed to be worth absolute
ly nothing. The great commodore
stood at the head Of the stock operators
of the union, and controlled an enor-
NOUS capital. His position now, If cur
rent rumors have any foundation, is
most perilOus and awkward. Whether
he weather the storm or not, he has lost
all prestige and influence, and his vast
apparent wealth has melted like snow
before the sun. He certainly has not as
yet met his obligations, resting on no
collateral securities, to the Union Trust
company and many fear that his own
tools and agents on the street will be
left with loads of stocks, to escape if
they can. Those who remember Mr..
Vanderbilt's operations with his steam
ers to the isthmus know that he is ut
terly Indifferent to public faith and pri-
waite contracts. He would leave his
credulOus friends, as he would his most
bitter enemies, to utter ruin if he could
thereby escape himself. He is simply a
bold, able, INSCRIPTIONS and selfish
stock Spectator and adventurer, and
over his ruin, when it comes, there will
be few tears. 49,.
There are other and smaller disasters
throughout the community which in
spire more pity. Men who have for
years enjoyed ample fortunes and held
a high business position, and have used
their wealth wisely and we'll, find them
selves suddenly near an old age of pow
erty, and their children driven to unaG,
customed labor, through no fault or
neglect of their own, but from the en-
Observation-Disclosures Such shipWrecke
are the pathetic chances in the "voyage
of lifen and New York business. They
can excite no other feeling than those OF
sympathy and compassion. The fall of
some Of these men brings with it disaster
to many who depend on them-to the
poor who depended on them, and the
helpless who were supported by them.
Thousands of Others are trembling on
the verge ct bankruptcy. Merchants
with hundreds of thousands of the best
securities can absolutely obtain nc
money upon them to meet pressing de.
mands, while their own creditors in the
rural districts can not or will not pay
their debts. Danger and difficulty sur,
round every business man now, and the
chances of life put on their worst aspect
The old and weak break under the
strain all classes feel-the trouble, and
care knocks at every door, 1885,.
1t is useless now to mOralize over the
disaster. The lessons will be read evel
by the wayfarers on Broad street. Eve,
ry n dabbting in stock speculation
has had warning enough. Irredeemablt
paper money was known to make al
atmosphere of gambling and venture
The explosion of such dangerous oper
atiOns has beenpredictedby every fnan.
cier for the last ten years. Nothing new
or uneXampledhas occurred. We NIGH
hope that the mad hunt for gain woult
be arrested for a time by such great dis
asters. But We are quite sure that i
win not be. What has been before viii
be again. After the Vanderbilts anC
Goulds and others have vanished from
the exchange with ruined fortunes ant
blackened regulations, other adventu
rers will appear, with new hope ant
courage, and with o desperat,
schemes. Even the lesson of the cur
rency will not be learned. Wisdom, a.
least in this matter, must wait to be JUS
tilted of her children. ~. ..-