National Republican., 1873-10-03
UNITED srAyEs AND nnlrIsn WEST INDIES.
THE FINANCIAL CRISIS AND TIL
REMEDY.


REMEDY.
Dispatches from reliable sources round the
compass-East, West, North and South-are en-
couraging. The prompt decision OF the Presl-
dent and the Secretary OF the Treasury to afford
all legal aid to the business community in the
sudden and unexpected emergency has operated
like charm. The rock was smote and streams
OF relief followed. In this the President and
the able Secretary are unit In extending the
legal remedy. Numberess kilograms to the
Secretary announce that the nerce tidal wave
has subsidized that the worst features OF the
panit have passed, and evIncing glad tllngs Of
confidence and hope that the regular business
Of the community will soon resume It's wonted
channels Of onward prosperity throughout this
glorious republic; and why should II be other
wiser
II we admit that certain prominent banks and
bankers, long time enjoying unbounded conf
dence in our leading cities and throughout Eu-
rope, had, In an evil hour, advanced too far and
too much capital IN shouldering vast railroad
projects from the Atlantic to the Pacific ocean,
with view to the general prosperity and wei
fare Of the republic, and had thus temporarily
crippled their legitimate resources for prompt
cash obligations In the financial tornllo, yet
they have been able TO demonstrate abundant
resources for the nnal settlement of all their In
avaunt, despair. These puolic.spriteI capital
lists-adventurer and spectators, II you
please-are but one In u hundred thousand Of
the community.
We are q vast Republic of Industrious enter
prising men, counted by millions, all bent on
successful business. Merchants, manufacturers,
| citizens, professional men, farmers, agricul-
turists, and last, but not least, common day
laborers, who have families to support-all arc
enlisted In the common cause OF unveral sue
cess. The season OF the year Is, moreover, aus
pcious. In general, the harvest has been favor
able and abundant throughout the country
more than an average crop. 1t Is now In the
market awaiting cash remuneration. Cotton,
rice, tobacco, beef and pork, fiour and other
| cereals; hay, coal, petroleum spouting spontane-
ously from amid mountains over the plain; the
best OF iron ore, coveted by England-all pro-
dueed In abundance over the land. With such
ready resources, Is 1t possible for the mistakes
or the misfortunes Of few capitalists (however
respectable In themseves) to involve such q na
tion In ruln7 Not a whit Swamp who may
the Republic, PhGnlx.lke, will rise from the
embers and speedily resume Its onward career
Of prosperity and happiness. Exchanges be-
tween US and Europe bid fair to be more fayora-
bio to us. Already gold Is flowing hlther
abundAntly from Europe, Qast New York gold
quotations 1000 and hAcyon days may soon be
at hand. Business men and oil others are only
to follow the advice OF the Executive, and all
will be well, and general prosperity will prevail.
The run on the banks by tlmld small deposit
ors was a senseless waste OF time, doomed soon
10 slide, and resulting In the return OF deposits.
But as the President, after doilg all he could for
relief, suggested, all parties, and especially bank
ers and business men, creditors and debtors,
must unite In the one common cause OF conf
dence and mutual accommodation, and speedily
Hon RKVtlI NINA ia T1R - n
perity and happiness beyond all former expe-
Uence,