Sunbury American. [volume] (Sunbury, Pa.) 1848-1879, 1873-11-07
HARD TIMES AND WHAT CAN DE

Democratic editors of small calibcr or
gross dishonesty, arc busy in their purpose
of creating the ides that our present calam-
ity is the result of Republican mismanage-
ment or dishonesty, while men of brains
place the fault where it belongs viz, extra
vagance and speculation in stocks. For
years past extravaganza and speculation
have been INDUCED in, and it was noticed
everywhere that sooner or later a crash
was inevitable. Rings were formed of ev-
cry description for speculative purposes,
and capitalists anxious TO make fortunes
in a day, overreached the mark by invest
ing in the widest speculations, while 9TH
ers persstcntly INDUCED in extravaganza
and folly of every form until the crash
came upon us, and the cry Of hard times
is heard everywhere. BY this sudden
check in business great lesson is taught,
but how to remedy the present co,dition is
a matter never looked after before The
Ne,o York Tribune, in speaking of what
can be done, takes the following sensible
view of the situation:
"The hard times of which we warned our
readers are upon us already, and the signs
of them may be read by the most igno-
rant to whom the reflex action of capital
and labor and Of currents of trade are in
scrutable mysteries. They can see that as
sudden paralysis has fallen on business !;
that half the meat is left on the butchers
stall that the dry goods stores with their
purple and fine linen are almost empty of
customers at this the busiest season of the
year that rubies and diamonds are left to
blaze unnoticed in the jewelers. cases, and
worst of all, that in every manufacturing
town thousands Of unemployed men and
women are swarming ready for starvation
tomorrow. The millionaire broker locks
up his check book when the millionaire
manufacturer comes for loan; and the
tradesman's wife draws her odd hundred
or two out of the savings bank and con-
dides it to a stocking or teapot. Both of
them, as indeed all of us, are quite con-
WINGED that there never was more money
in the country than now better crops,
,more foundation for solid prosperity, yet
every man looks askance at his ueighbor.
There may be no reason for the panic so
much the worse; as shrewd financier
said yesterday, you can fight reason !;
but this is prejudice Yet there is after
all some reason for the prejudice, or whim,
or terrier, whatever we may call it; and we
have to look for it in the fictitious basis on
which all business has been carried on
among US for years the fever for specula-
'tion; the restless ambition which drove
every man, and still more, every woman,
to live in a style befting a larger income
than he or she possessed. That the first
great failure was that of a mau trusted for
1his integrity and high principle may ac-
count for the electric rapidity with which
the chill Of alarm penetrated through the
country to quiet country towns and farm
'sosses, where great financial operations
were unknown, but where Jay Cooke li.c-
rallyrepresented the religious part of the
Government. ifthere was something rot
ten in this part of the State of Denmark,
what part is sound Who can be trusted /?
In that uistrust is the secret of the hard
times in no failure of crops or other ra-
tional cause beyond our own consciousness
of misdoing. We stand like gamblers ar
rested with the cards in our hands, cycling
each other suspiciously. Perhaps tic sus-
pcion may last long enough to teach us an
effective lesson. When A will not lend to
B, nor G credit ID as far as his weeks ex-
penscs, the day of destruction will have
come to wildcat banks, Hypothetical rail
roads, fraudulent insurance companies.
The millionaire will not make us absurd
abroad by aping royalty, tie clerk will be
satisfied to live as clerk, the mechanic as
a mechanic; the laborer's scanty wages
will SO TO buy bread, instead of sleazy
silk for his wife's Sunday wear. In short,
we shall all be driven perforce TO conduct
our business on prompt cash payments, in
stead of interminaole debts on paper--to
honesty instead Of sham. Whether when
the same is over, and the money actually
i'll the country oozes out into its dccustom-
cd channels, we shall 60 back to our false
system-to bnildng, each for himself, top
pling gilt palaces on sandy foundations
remains to be seen. 1t is To be hoped that
the suspicion and real, biting poverty
which many Of us must experience will not
fail of their salutary effect, but leave eau
tion and fair dealing as their wholesome
fruits.
In the meantime, let us urge upon our
readers the prompt necessity of rendering
the coming pressure as light as possible. 1t
is TO people of moderate means and the la
boring classes that the panic will cost most
dearly, and it is from their domestic lives
the cost must come. Much can oe done
by the prompt payment of all small bills,
and the immediate adoption of cash pay.
ments in our daily expenses. BY this
means large quantities Of currency will be
thrown from these innumerable sources
into the under strata of social life, where
they are so much needed, and the whole
IN ltZ.I 4 -