The Petroleum Centre daily record. [volume] (Petroleum Center, Pa.) 1868-1873, 1873-10-07
"LOOk Otst tor the Loconc-
tivc.s,

tivc.n
That this timely warning, seen on . mil.
lion ctossways, 10 often UNDECIDED Ia duly
! at'es'ed ny . Thousand coroOei's inqnesis
every year. But The greatest calamity tha.
has ever bsfallen through neglect Of this
kindly admonition befell Wall street The
other day. A disaster so wide spread IS to
be national, and 30 lasIing in i,s effect on
| oil circles of business that the opening buds
and blossoms Of tbs vernal equinox vii,
hardly ace the stringency OF the money mar
ket relieved.
Here 10 the United States Q long career
Of uuexsmpIed national prosperity is our
record. Year after year crops of every kind
ell over the land were abundant and plen.
tiful. Manufacturers, especially OF glass
and iron, fourished Merchants every
where transacted large business sufficien.
" lucrative. A civil war seemed only to
multiply the resources Of great aud grow.
ing nation.
The national banking system added to the
volume Of currency, and 60 far increased
the facilities for doing business, ss TO enS
large greatly internal trade apd traffic, and
hereby came into prominence the "Loco,
motive" transportation by means of rail-
roads got into great favor With the local
public for the advantages It offered to every
hamlet 1t passed, while to the stockholders
II was alwA va ro0a ri od and .no,o..,,.a =.
safe investment, while TO the bankers and
brokers and ciques and rings who manipu,
lated the stock, 1t was always an iuexhaust<
ible mine Of wealth and resources.
just here, however, an evil began. Rail-
road enterprises absorbed the floating capi-
tai needed by the merchant, the manufae-
turer and producer. Bankers over,reached
themselves by loaniug immense sums to
corporations with inadequate security. A
the circulating Medium can not be incress-
cd ct will the collision Of 10 terests resulted
10 untold disaster, affecting intimately every
legitimate and honest pursuit 10 the couu.
try and invoIvioga q mul.itu dc OF hapIess
and innocent parties 10 hopeless ruin, and
perhaps setting the hands on the dial Of
material progress in this country back for
some yesrs.
Still this collision Of the locomotive with
Wall street speculstors aud their allies and
abettors oil over the United States 10 not
likely to prove altogether sn evil.
The locomotive had OF late become srro,
gsns and tyrsouous. 1t had appropriated
the lions share OF capital. 1t had laid
heavy imposs and burdens upon the people
It had deaau.Iy corrupted eur Legislators OF
every degree State and National. II threat
ensd 10 become the Cesar that would de-
privs Us Of our liberties either by q single
despotism or forcing us into anarchy.
The West was waking up, in fact was
'Iooking out for the locomotive" She bad
pretty much resolved 10 run Il off the track
or to take charge Of Il. But strange to ssy,f
much apathy prevailed and politicians Of
oil parties were only too willing to shnt their
eyes TO the growing power and daring as>
sumptious Of this new and dangerous snl
siue.
But happy for us all the railroad men au
their friends had not estimated the danger
Of the crossing, financial or political, fully,
and the locomotive lies now in the ditch and
mskes it less necessary--to look out for the
locomotive.