The Portland daily press., 1876-11-02

The following appeal to the business COM
muhity, signed by upward of two hundred and
fifty business men of Syracuse, including the
leading iron and salt manufacturers, wholesale
dealers, bankers, and representatives of all
trades and pursuits, is made public:
To the Business COnanaunity:
The public credit is the basis of all business
prosperity and success upon which depend the
happiness and welfare of communities. When
this becomes impaired, and there exists pros
pect OF a blighting reaction and widespread
disaster, it is time every energy of the people
should De put forth to protect their interests
and to ward off the perils Such an exigency
has arisen in our public affairs, calling for
prompt and decided action by the business COM
munity. Confronted by an extraordinary con-
dtion Of national politics by which the busi-
ness interests of the country are threatened
with new and dangerous complications, carry
ing with them further disturbance and uncer-
talnty in commercial operations and industrial
pursuits, which, if pos speedily arrested, must
be fraught with embarrassmenis and disasters
far exceeding those already experienced, the
undersigned, business meo of the city of Sy-
racuse, N. Y, hereby make declaration of their
apprehensions, and assert their belief in the
necessity for public spirited and patriotic cit-
ZenS making common cause and rising above
all mere partsanSbIp, in earnest cooperation
to avert the impending danger, and to render
successful the most efficient measures for re-
storing the pubic confidence and promoting
an Improvement in financial affairs.
We beheld, recently, with high hope and
proud satisfaction, marked improvement In
the national credit, which was indicated by the
success OF the plan for placing the government
securities at the greatly reduced rate of four
and one-haf per cent, and we welcome it as
a forerunner of that full restoration of conf
dence and happy adjustment of business rela-
items which would assure the revival of the
general prosperity OF the people, attended by
a continuance of the nations hitherto unex-
ampled progress: We We're suddenly startled
from this condition of hopefulness and satis-
faction by an abrupt suspension of the success
full operation of this financial plan bpth in
this country aud in foreign lands. This altered
condition of affairs attests the sensityepess or
| the money markets OF the word-those of our
own country as well as of EuroLe-to what
| ever Threatens an interference with the smooth
currents of trade and manufactures and the
| startling suddenness with which the conversion
| on such favorable terms of our national se-
| curities was checked, indicates the presence of
an imminent danger TO the public credit, and
peril TO all material interests depending upon
IT, Inc canse Is found in the apprehension of
| an ubtoward political result, viz: the success
OF the Democratic party in the approaching
| election. The lesson enforced by these altered
conditions, which have so surprised and alarmed
| business interests everywhere, is that change
| IN the nations tnanc al policy would lie fol-
| lowed by an inevitable Tevulsion and general
| arrangement of business affairs throughout
| the country, and that there is no assurance for
| the future except in a firm adherence to the
| measures already adopted tor the resumption
| of specie payments, a strengthening OF the
| public credit, aud a faithful discharge of every
| obligation OF the nation. Any other course,
! as the experience OF the past and the present