The Orangeburg news. [volume] (Orangeburg, S.C.) 1867-1875, 1873-10-11
paCettsn ana slae sdrlngency.

Ths advance in cetton ID healthy
! eign Of the times It shows the influ-
ence Of the great staple in restoring the
meRetary condition Of tho country. 1t
tFss almeat proyijsntial tist the fnan-
eiaI crash did not occur month or two
later. Had the cotton crop bten
clipped aud the crash come
Mish the drafts against il in the hands
:, Of the banks and cotton houses through
out the South, this section would have
been Fuined-absSlutcly ruined. There
would not have been prominent bank
ashat could nave survived, and they
!, Szould, have gone under before the de
Pssitofs could have made gun upon
;thssR, An Il il. the North, with al its
wealth, win suffer more than tie South,
.heceuse Il has so such powerful reserve
10 bring into the field. AZ this time
g,heFs Heyer iis any very considerable
amOBnt Of eurrsncy ansng &c; inasmuch
o. the supply has bOsa exhausted in
raising the crop md every interest Is
sookiag forward 90 the harvest which
mass eammaad its tRo hundred and
6fty millions of money uader any cir
synstancea. There u, ID is true, great
stTiDgency in curreney--for any other
. psEpoae than to buy eOstea.:
These who have money are holding
for that-xery purpose, Aad others who
tags bdFawp .heir deposits from the
haRks are holding tIback, while those
Shq receive it from any source are also
hiding it away against thu crisis Hu
Pan Rpture is controlled BY sslfinterest,
and II ageh ,smeEgsnsiss becomes much
more selfish than sensible. Every man
tninks that he must lock ous for himself,
EunD to che bank, pulls out his money,
aaa baries it away in mis- strong box or
tFask.. There is no bank in the country
hateepld stand q persiStept ran, because
the very natur. of iss brsipsas requires
chat large poftiSn Of It's deposits shOuld
HsT Invested Ia securities which cannot
10 e'fsaliasd upon in moment. The
nGsiSaGl banks, TOO, are under the strict
ess1 Uaised States law, aud may bo
thFoWn into ths hAsds oFa seseivsr at
any nnlsmsatS in ease Gifts violation
An thsse incidents attsna and increase
Fanic, aad The trouble in eommunity
liks Slrs ibsAat essrybOdy gets scared
esd wants to dc sOmsthiag, instead of
keeping oquist and cool. Tbs whole
basiGsas Of iise is system Of reciprocal
yalatioh and mutual dspsadeuec, aud, in
seasons of 6naaoial trouble, ths undis-
sprbed lnainssnance or this aosmal con.
&itloA l. mere essential thsa ever. The
. EaAp who tills the gsund in this section
10 the ceraor stoRe of our wbale business
suPerstEpctpre. He and the merchant,
and abe bank, and the factor, and the
maanfseturer, are like the hands of
eloOk--all moved by the samo mAchiD.
eng aud at the Same time. Obstrucs or
dsfsas the harmonious working of any
OF either Of these component parts, aud
ye0 disturb che whole construction. To
maks ) run on . bank in which you have
placed your trust for years, Of such
siae, b to strike and ipjure che faithful
t
ftieSa who served yos IN difficulty. The
ysEy shsE hour 10 which to draw from
yous bank, both as matter Of good
sspss and fair dealing, Is VhSp the
cOaatEy ID in trorble With hnancial
Pssis. However, in 8he Sou.h We can
not bshutt much, for We hAys the entire
crop ii our hands thank God!