Lexington weekly intelligencer. (Lexington, Mo.) 1871-1887, 1873-10-15
rEY rrsA1crAL sEEuAT1oI,

The financial s,tuatloH impfoves
slowly, but, We srast, sescly s.ssl9ssls
idly. Tho Cincinnati, Cttcag" a'Itt'
country banks genera " have esa.h
cd bustncss fully. In our own city
no doubt IL entertained that the worst
ID over. Tho failure OF tho GaIon
Na,iouai OF st. Louis last week ere
ated q considerable degree Of ap.
prchensiou, which was speedily dis
|sipa,ed by tho prudence aud jads.
mcnt Of our bankers and business
men. Robert Auli, tho presideit 2 .
tho disruptcd Institution, spent '"e,
early years Of his lifc In hss cry
and here accumulated q fortune ~
the banking business. Il was Tor
time feared that many of our u s-
mess met would Be Involved In the
misfortunes of the bank. and hence
the anxiety. This fear was without
foundation. The amount Of individ-
ual deposits in tho bank from Lafay.
ette county were quite Insignificant.
land our local banks r u%ninjurcd. II
ia now believed that tho asscts of the
Union National are ample to meet
every liability aud return to the
stockholders 60 per cent. Of their
stock. Business revivcs slowly. Con-
idcucc is provcrbially of slow
growth. 1t is better, however, to
proceed Slowly and surely, than by
overhastc to bring OF q relapse.
The croakcrs In the cities arc still
at work, but their voices grow fechicr
every day and the response in the
country is no longer audible. Hope.
fuilness seems to peryadc every Sec
ton OF the country, especially the
West.
Tho following extract from a pri-
vate letter written from New York
on the 18th inst, is a little bit dol
%orous, but not discourasing;
"The frat effects of the panic were
in this city. The country was the
last to feel IL, Now we are experien-
cling the reaction aud It is depressing.
! Our merchants complain of the i'm
possibility of getting remittanccs
from country customers. The panic
has stopped circulation in the extrem-
.ties and shrivcled the public coniid-
ence, SO that everybody who mas
~grcenbacks clings tenaciOusly to his
hoard. Tho effect OF this is obviously
business paralysis, aud our merchants
complain OF difficult straits tins week
more than they did during the panic,
which Frustrated the stock market,
but left them unscathed.
"Anotlier circumstance adds to the
embarrassment OF the financial siiu-
tation: the banks have omitted their
usual stat ements for two weeks past,
ano The failure Il poPu&w-lSLattrihut-
ed to the fear of the officers to go hc-
fore the public with such oil exhibit
as they would be obliged to make.
The idea is, they are afraid TO confess
their weakness. The gross incom-
potency of secretary Richardson 10
universally exccratcd. II is believed
that every act and %uttcrnnce Of this
ineddiesOmc official has tended to in
crease the confusion and distrust.
The announcement that he is now
issuing the $44, 900, 900 was received
with general disapprobation. Infla-
ton is not the remedy for the evil,
and if IL is persisted in, results TO the
business of the country Of the most
disastrous character may be up
pretended"
We would simply call attention to
what appears an inconsistency in
this letter; money stringency is COM
planned of in pection and initiation
is denounced in another.