Orangeburg news and times. [volume] (Orangeburg, S.C.) 1875-1877, 1875-12-11
] The Coming ear.

but cheering. Many depressing cnuscs
have led ton stagnution i'll business,
and grave 'ttars arc entertained hv
thinking men that We hnvc not yet
reached, tic worst point. There arc
very few encouraging signs Of u re-
turn to activity in our agricultural,
manufacturing and commercial cir
clcs. EACH day, brings us the unwcl-
come rews I Of. suspensions at the
North, whilc cacl, succeeding tclc
gram adds a. darker hue to the out
look for next year. The non.raymen.
Of individual debts, followed closely
by careless use Of The resources of
town, county, municipal and Stale
governments, are leading rapidly to Il
condition Of things out Of which there
seems to be no way Of escape. Many
enterprises Mhicl, have grown up un-
der careful management, are now
tottcrng OH tic verge Of bankruptcy
md ruin. a few weeks ago it was
announced that many, Of the hotels
in New York were without a single
boardcr. Tie deceptive policy Of cx
pansion, which WAS advocated in Ohio,
brought about disaster i'll many in
stances. The inevitable consequences
Of ovcrlradng and building on Dor
rowc1 capital. at a;high rate Of intc
rest, ! ihvc s:go,,c fur to slattcr the
fabric Of public and private credit.
Not only have ovcrtrading and orer-
bu7tlmy been the rule, but public sen
timcnt has been dcbauchcd by ire
Eronsiblc SPECTATORS and by The fail
urc Of mushroom banks, which drew
from the pockets Of she people their
hard earned money for which they
received no. commensurate return.
The existence and pursuit Of such
policies rs these, always lead to dc
cnying manhood and financial death.
Happily for lis they have been checked, !,
i'll n great measure, by the stringency
Of the times. For men }who make it Il
practice to run upon borrowed CAPT
tai become slaves in the most abicct
sense Of the term, mid contribute large
" to the depression Of our business
interests. Let men b, gin to practice
economy, live within their earnings,
and n return to our normal condition
may he possible; but rs long rs money
borrowers throng tho land men who
will mortgage first their homes and
then their. catriagcs, for few thou
sand dollars, i'll the vain hope TO pay
out in the end, our financial condition
will remain uncertain. a high rate
Of interest will bc fostcrch thereby,
and those whose fortune it i; 10 have
money to lend, will eventually control
The dcstinics Of the country, and cs-
tablisll for themselves an aristocrucy
having 40 claims to responsibility
save those created by the influence Of
the almighty dollar.
Let our farmers husband their re-
sources cs-buy nothing except those
things which arc absolutely necessary,
and merchants and manufacturers will
be forced into corresponding measures
of rctrcnchmcnt and economy, and
thus heal tllicr spirit Of confidence
will ut once spring ur between all
claScs
1T is easy to sec where the practice
Of economy will load US; it, is already
known where Eextrnvosancc and the
credit system has brought us. The
former is the broad, plain road to
financial prosperity, and personal
contcntment-thc ucll-spring of pub
lie and private virtue; whereas the
practice OF the latter has reduced
thousands to rcnury and want, and
placed them, face to face, with poverty
But sad rs The outlook fpr 1876 is,
it our people, and tho farmers i'll par
ticnlar, Wcrcftq resolve, with the begin
ing Of ihe4New Year, to live moro
economically, 60 in debt as little rs
possible. and work manfully to regain
what they have lost by short crops,
our Centcnnjat Christmas will find
them bcLtcf of Ltlam they src today.