The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1874-01-28
CONFIDENCE.

The panic which was at first. as cloud
no larger than mans hand. spread over
the land with marvellous rapidity. and dire
full consequences. L is over. The storm
has passed BY; serene sky is again over
head. but the wreck and the desolation are
everywhere. Men still stare at each other
in establishment and doubt, and ask what is
next to be done?
As yet no practical measure of relief has
been adopted. Suggestions without num-
Der have been made, and financial plans Of
the most opposite character occupy the at
tention of Congress. Between the extremes
Of contraction on the one hand, and the VII
dest expansion on the other, no middle
ground has yet been found.
Nor is it likely that any viii be found.
nor remedy attained, until confidence, the
very principle Of recovery, is restored.
Expansion may take It's widest range. the
whole country may be flooded with curreu-
cy, Jet while distrust still lays its palsy
ing hand, there can be no Improvement.
The same caution which now boards and
withdraws from circulation the existing
stock of the medium. will add the new
stores 10 the buried treasure.
Yet upon careful survey Of the ground.
the reasons for distrust no longer exist.
Houses and institutions that we're intrinsi-
cally weak, went down before the tempest.
Those that we're strong. have had their
foundations more firmly liked. All the
elements Of weakness have been eliminated
BY the ordealto which they we're subjected.
The banks have fortified themselves. and
are now enabled to Facet tie people in the
restoration Of business.
The remedy lies in the hands Of the peo-
pie themselves. Il is their power 70 set in
motion the springs Of action, to unloose the
sealed fountains Of prosperity. 10 pour oui
again the streams Of wealth. There is no
diminution Of the currency. Unlike Spe.
Gle. it cannot go abroad. Il has only DO.
IN este value Yet up,n the very 6rt note
Of alarm, il went to cnver With kind q
false modesiy and coyisb alarm, as il i
really had the intrinsic value Of the pre-.
cious metals. Its only real value is in ii
circulation. IN its capacity for convertible.
ity. either into property, or government
bonds.
There are thousands Of dollars held b
our own people, locked Up in the recessc
Of chests aud other places Of concealment
drawing no interest. doing no good, but Of
the contrary. positive harm by drying u
the lie or business. Let these remembe
that the danger has now passed that th
business Of the country is now waiting i
move on in its old channels; that all tia
is wanted is the re-Ppearancs Of the cur
rency Withdrawn from circulation. An,
perhaps il may be added. that experienc
may have demonstrated the need Of Earth
er addition to the circulating medium, j
view Of the increased business and pOpula
tion Of the country. Bot there is enoug
for present wants. IL il is al put in motion
!. Nearly al that is wanted. is confidence
confidence in each other. confidence in .h
government. confidence 10 the banks. con
fdence in the resources Of thecountry. Th
exercise Of this virtue will soon dissipat
the existing stagratiOn, and make the yea
which has just begun. as remarkable 4
sound prosperity as the last was for disaI
ter.