Delaware state journal. [volume] (Wilmington, Del.) 1870-1883, 1873-11-08
Delaware State Journal.


Although the present panic plnches
with especial severity the majority Of the
people, has caused much suffering and
promises more, we should not be dis
heartened nor cry before there Is absolute
cause for as surely as day fellows night
prosperity will follow this panic, and we
will be possessors Of valuable knowledge
acquired only In the school Of adversely
and bitter experience. The training Is
severe, Ills true, and the knowlsdge high
priced, but when great truths are taught,
Vexed problems solved and important
propositions established, they are apt TO
10 Impress themselves firmly upon our
minds and may be said 10 be cheap at al
most any price. In former years we
learned much from Lessons similar
to that which Is now being taught US,
and we have prohted greatly by them.
The panic which preceded the beginning
Of the last decade was nothing less than
q national blessing, for it taught us how
TO avert financial ruin In 1860 and in the
year following, the very eve offs great
civil war ard dlsmembered Union, the
time above all others during the present
century which shook the confidence Of
men of whatever calling or profession.
Some damage was done then and many
good men and excellent business houses
fell from the effects Of the storm, but
from the ruins great lessons
were learned and the general re-
suits were good. We became more
economical, beyond comparison more
careful, and Just conservative enough to
be prosperous. We reeuperated fasl,and
when the greatest Of modern wars precipi-
tated itself upon us we were ready for the
enemy and soon organized and equipped
great army and serviceable navy. For
four years we fed, clothed and paid more
than a million men, and when hostillties
ceased our resources at the North were
still abundant and our credit good.
But with that recklessness born of an
inflated currency, we overlooked, for thu
time being, past experience, and mad'
heavy investments not warranted by
either facts or former lessons, and bull
railroads which have not yet paid thu
interest on the moLey expended for thei
c obstruction, nor will they for years u
come. In the meantime, our currenc.
has been contracted while the demand
for more money has been daily increas
ing, and, as lthe business Of 10000 90
people must be conducted upon the sam
correct principles as Is the business O
two individuals, there lie, of necessity,
time for settlement. That time arrive
In September, but as A, who was b
debtor, had made bad investments, th
former could not meet the claims of tn
latter, and in turn, who was lndebte
to c, failed to cancel his Indebtedness
and so on to the end Of the chapter
each man knocking his neighbor dow
until all arc PROSTATE, like row {
bricks.
We shall come ont of this though, an
that soon, and be the better III TOR gu
temporary prostration. tits folly to thin
trade can long be inactlYe. The farm,
must furnish US food ana we in tuI
must supply him with wares and Inc
chandise, aud every day that busin ess
any kind stands still will, when trad
again fnds its legitimate channel, have
be made up, and this will require the cor
bned energies Of the thousands who a
to-day temporarily out Of employment
And if VIC will all be careful, condde
aud a little conservative, the sn spen
viii socn be broken by the busy hum
legitimate industry.