The silver state. [volume] (Unionville, Nev.) 1870-1903, 1875-08-30
THE SITUATION.


dependency seized the community in
California and Nevada upon the an
nouncement of the failure of the Bank
of California. The extent of the failure
was supposed to be much greater, and
it was thought that its effect would be
much more severe upon the business
interests of the Pacific coast than the
facts warrant. 1t doubtless will fall
heavily upon some individuals, and
few business establishments may be
crippled, and perhaps ruined. But in
few days the public pulse will beat as
usual and the arteries of trade and
commerce will pulsate with their usual
life and vigor. The recuperation powers
of this country are unparalleled. No
calamity, however great, can cause but
temporary ripple upon the surging
sea of enterprise. Moneyed kings may
succumb, through rash ventures, to
financial crisis; money may be diverted
or permanently withdrawn from certain
channels, but capital is ever active and
must find investment, and new channels
will be opened or the old ones cleared
of the debris and ruins marking their
course, and activity and life infused
along the whole line with renewed Wig
or. Profting by the sad experience of
the past, calmer judgment will prevail,
and the shoals and quicksands which
were UNDECIDED in the wild and insane
greed for speculation will be avoided.
A few millions of dollars will be lost to
depositors and other creditors of the
bank in some instances actual want
and suffering may result. but the COM
monwealth is not materially impaired;
the money is not destroyed; it is trans
fered simply, but wrongfully, to other
hands. With bosom of destruction
a hundred and fifty millions of values
were wiped out of existence by the Chi
cago and Boston conhagarations. In
twelve months after, phoenix like, the
queen city arose from her ashes with
her thousand spires pointing heaven
ward, and scarcely vestage Of her
late calamity was visible, while whole
blocks of solid granite of architectural
beauty adorned the burnt districts of
Boston. The business of the stock
broker will suffer more than that of
any other class of business men, a
class that the general interest of the
community could very easily dispense
with. 1t may necessitate the leyying
of an assessment on the Pinto, Tim
buctoo and Hard Scrabble mines, or il
may puncure the web of tho inside
spiders, prepared to catch the luckless
flies, on Ophir, Savage, the Bonanza or
some other Comstock mine. Legiti-
mate money or other business will not
materially suffer. When an injury is
inflicted upon the human body all the
surplus energies and remedies of the
human system is brought into requisi-
ton to heal up the wound, so when at
any point legitimate business is pros
trated by a financial shock, the surplus
capital of the civilized world, if neces-
sary, pours in in streams to mend the
breach. Mountains and deserts and
the broad expanse of oceans form no
barriers to its flow. We sincerely re-
greet the failure of the Bank of Califor-
MIA, but our advice to all is not to halt
for one moment in continuing in or
entering upon any legitimate business
enterprise. Money will be more plen-
tiful in the next sixty days than it has
! been in the last twelve months.
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