Ellsworth American. [volume] (Ellsworth, Me.) 1855-current, 1873-11-13
her next,



Passing along the street the other day
w noticed an Irishman at work. digging
with ri-ht good will through the black
earth. a. il IN search Of hid treasure"
on asking what he was hunting FOR. he re-
I.liel the '-hard pan or solid earth for the
foundation Of building." We thought
the efforts Of tie honest laborcr APPLY
Illustrates the present attempt OF the bust
ness men OF the country. financially.
Whether willingly or otherwise the men
who have been pro-periug beyond all
former precedent. in their own and other
peoples estimation, all at once awake TO
the alarmin" tact that they have been
erecting supcr>tructnres with foundations
laid in made earth. rather than based upon
The hard pan which wiih>tand> financial
storms Of all kinds. The Spragucs. at
Providence. with 4 business extending
in-o half the States of the Union. establish
cd and kept running on borrowed money.
j. only 4 sample instance, though a nota-
he one. of the way the business of the
N''|4AAil t4iN ONtiA ~AtlAldAfi Nv Il Nf-liit-
ciaicd currency. and the vauIting ambition
Of speculative men
II the Spragua> had been content with
doing one half the business. which now
swamp~ them financially. no douht they
could have wca;hcrcd the furry now upon
Is.
Bur This notable instance Of OVERHEAD
iu-. aud Of unbn>ine>s Ike effort a. has
been remarked. j. only a sample TO be
found duplicated in every bushes, com
munity. on moderate scale. There has
been disposition to rush headlong into
an kinds of business. without due regard
j1 tie capital on hand to be invested. or
Ia the prospect ahead for success Slimu-
lated ,auri> in some instances succeeds
well. bu, in the majority of eases end, in
talurc.
The trouble with all such i that a day
o: reckoning viii come at Iast-come like
the di-asrecable washing and ironing days
10 The good Aou>cwilc-day> that Viii not
down al any Woman's or mans bidding.
and ou-ht not to, for matters would run
altogether too smooth without them
.'John Paul" the humorous and philoso-
Ihical contributor to the Trijl,ne gives hi,
experience OF 'le results ofthe panic which
We copy in part. II he treats the matter
lightly. seemingly 50. it so truthfully
illustrates much of the present difficulties,
that We may learn a useful lesson by hi-
eXperieuee:-
HoBokEN. oct 22.-Itw was very pleasant.
riding lei>uTcly across the country. AMI
reading about the panic. The foliage was
just changing. aud ] called Mrs. PauI's at
icLii"n - tie leaves. eiici,ing from her a
quiet bat sympathetic pressure OF the hand.
aud the remark that She got good many
ideas about her Fail dresses from them.
Then turned TO the newspaper again.
and rather enjoyed the details OF the
panic. For | was miles away from it, And
had nothing {" lose. anyway, had it been
next door. II d1 not seem possible that
Size panic could lesson my enjoyment. OF
interfere wiki my comfort in the slightest
degree. save and excepting as my sympa-
thy would naturally be enlisted in behalf
"t suffering friends. But sympathy is
someihHg which 1 never withhold from
tAo>e ia trouble. whether they happen 10
Ae friends or not; there's nothing mean
a1out ne. | lind, too. hat one can 20
around shedding sympathy on all sides.
for weeks ~ = time, without spendin" a
cent or being 1t much personal inconven-
fence. That | could be an actual loser by
the panic never occurred TO me: il didn't
-cem to lie IN the cards. "a to speak Well.
an getting home | found nigh upon a
1g-Ei Of bld> rushed in on me. The
jUIcl.er, the baker. and the caudlestick-
maker. all wanted their accounts liquidated
e. once. Worst OF all. my tailor. on whom
! had confidently counted for a new SUN
OF clothes. sent IN bill n long as your
arm. ia the ordinary course Of events
tits would not have come in till the IL of
January. and in the meanwhile NV credit
would have been "a good rs anvbedv's
looking al my position now. | don't see
Shat II differed materially from that OF a
.oud many men engaged in larger bust
Hcs>rs. could keep a@oing as long as
she tailor and my various other trade con-
sleciIous would trust ne. 1t was only
when they wanted their pay that had to
fail. They precipitated the evil By their
senseless behavior. Ii the idiots had not
seut in their bills should still be trading
with them-ail would be going on smooth
!y. i panic is simply want of conf
deuce. brought on by finding OF, that peo-
pie are insolyent sooner than is convenient
for thein-sooner than they Themselves had
calculated on. SO long as il is not known
shat they're ihsolvent. eyerything's lovely.
IL nobody wanted pay, there'd be no
panics. This Is clearer proposition by
tar then the cOgrate one that a national
debt i 4 national blessing. What use.
then. in beating round the bush and de-
.:ising long-winded plans for preventing
panics? Just suppress the people who
want their pay. aud you hit the nail square
Oh the bead az once. III il were so arranged
that ever body would give credit to every
body, that goods. instead of being sold on
time. were sold Oh eternity. there'd be no
panies. and financial waters would flow as
rapidly aad noiselessly as gravy over a
clean table-eioth instead of with the gluck-
giSlck that comes when YOU try to get
bdttermiik out of haf-empty jug.
-Messrs. q. X. Campbell and others of
Cherrytield have just commenced building
H., .Ia,ttla iaal Cd xasa.l - q -