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

" The advance in cotton is healthy
sign Of The timeB. It shows the influ-
,ence of the great staple in restoring the
,inonetary condition af the country. 1t
gss almest proviiantial that the fnan-
eial crash did not occur q month or two
later. Had the cotton crop b,en
clipped and the crash come
. with the drafts against it in the hands
, Of the banks and cotton houses through
out the South, this section would have
been ruined-absolutely ruiced. There
would not have been prominent bank
that could have survived, and tkcy
would have gone under before the de
rssitols could have made run upon
them. As it il, the Nesth, with all its
wealth, viii suffer more than the South,
because it han ne EGeh powerful reserve
to bring into the feld. At this time
YthsFs never lis any very considerable
amount Of currency ainsng u.s. inAsmuch
- th7 supply has been exhausted iu
faisiag the crop and every interest is
Booking forward TO ths harvest which
msst epmmand it's two hundred and
6fty millions of money uRder aey cir
cgH,Etancea. There IL, 10 is true, great
striDgency in curreRcy--foT any other
purpose than to buy cotton.
,aThose who have money are holding
for that very purpose, and otherS who
hare hdraWn their dsposits from the
baAka are holding :it back, while those
Vhe sEeeeiVe &c fEOm any source are also
hiding it away against ths crisiB. Hu
naA RRturs is controlled by sslfinterest,
sRd in snch csmergeaciss becomes much
more selfish than sensible. Every man
thinks that ho must look out for himself,
runs 70 the bank, pulls cut his money,
eaa baries it away in his strong box or
trunk. There is no bank in the country
thAt cOpld stand persistspt run, because
the very natur. Of ito business requires
chat large Portisn Of Its deposits should
ASR invested in securities which cannot
be- realized upon in moment. The
national banks, TOO, are under the strict
est Uaited States law, aad may bs
phEoWn into The haads sfs rssciver T.,
any mOmsntsgiH ease Gifts violation.
Al these .ineidsutn attend and increase
panic, .aad the trouble in eormunity
like elES is9hat everybody gets scared
snd wants 70 do something, instead Of
keeping quist aud cool. The whole
buRiasas Of life is system Of reciprocal
gslatieh and mutual dependence, aud, in
seasons OF finaacial troable, ths undis-
tpFbed maintenance Of this aermal con.
6islon 10 moSs essential than ever. The
: nan who tills the geund in this section
ID the eoEqor atone Of oBs Whale business
SaperstRuctare. He and the merchant,
and the bank, and the factor, and the
nannfactnrer, are like the hands Of
elock-all moved by the same machin.
cry and at the same time. Obstruct or
dsfSat the harmonious working of any
OF either Of these component parts, aud
yeS disturb che whole construction. To
make b run on bank In which you have
Plsesa your trust for years, st saoh
tirae, b to strike and ipjurs the faithful
frieka who served you in difficulty. The
vssy lass hour 10 which to draw from
yOus bank, both as . matter Of good
Ssnss aud faiF dssling, is when the
country Is in troable pish finaacial
paHio. However, in the South ne can
not BE- burt much, for We have the entire
crop In our hauds-thank Godl