Carson daily appeal. [volume] (Carson City, Nev.) 1873-1877, 1877-04-14

Men Who are not very old Tor vho
think they are mott. can rscollecS
veil enough the land crash 10 1885,
81. We meas The burssins Of the
bubble in Eastern land speculation.
II sobersd the people Of the Atlantic
ssabosrd and made many . CONVEX.
sion 10 the sinfulunsss Of stock gam.
bling. When the ausL times in
Alabams and Mississippi me. With .
sudden collapse 30 gree, aud dsmor.
slizing va the revulsion that Mis-.
s'sAiPPi vent 90 FAR a. TO rspudia.s
her public debts by legislative
statute. Probably her burdens we're
greater than she could bear. Every.
body Who has read anything u Sid.
ney Smiths writings will recall the
bitterness Of his s,orn Nhen Pennsyl.
vania failed 10 Meet the in.eres, on
her bonded debt. The witty parson
had been gambling . little and 20.
bitten. So be growled. The history
OF the California mining towns is the
history OF the few shrewd fellows
who got out in time TO avoid the in.
evitslble tumble. took their little for
tunes TO San Francisco and there
rose and fell with the tide. In 1861
"a the way that sudden wealth be.
came. ell at once, Sudden poverty.
was bewildering TO behold; and men
were abundant then who thought
that the Comstock had petered ont.
II was more than seven years before
the revival came. II came with tbe
development OF the Grown Point
bonanza. But in 1872, in MAY.
came another smash. Stocks went
down. down, down TO zero. But all
the vast wealth which lies in and be.
hind the Nevada Bank has been dug
out Of the ground since that crash
when everybody thought the world
was coming to an end. Also, mean
time, the Justice mine had developed
great vein Of precious quartz. But
somehow the people who like the ex-
elements Of tho stock exchange have
had the blues ever since Ralston
died. There has been a gradual
losing Of courage among tha specu-
iators since the Bank OF California
had its dark day. But, il We reason
ny the light Of past u perience there
- no special reason for the present
depression. As We saw, there WAS a
much longer time in which there
we're no developments between the
panic and consequent depression in
ls63-64 and tho bonanza days OF II
when Jones and Hayward made their
strike in the Crown Point than there
has been since then. In 1871 first
came Crown Point, then Belcher;
and then, after almost no histus at
al came the Con. irginia and Cal.
ifornia. II the rich men whose for.
tunes were ms<le ont Of the Constock
have made up their minds not 10
spend any Of their wealth in further
developments, and il the populace.
the outsiders, have been r.iiked of |
.li they can stand, there in q reason !
for the present panic. In other |
words there is . loss OF confidence |
But great crises develop great men;
and We may yet see some bold and
competent leader step to the front. |
inspire the public with q new
courage and bring about the restor. |
alton we all need 80 mach. We can
not lose faith in the Comstock. We
believe 1t will continue for gener.
Ations yet to come TO yield more
'iiver and gold than any lode Of
quartz ever yielded before. There
must and will come q revival. The
'hance for . fortune il too great and
empting for any serious abatement
u prospecting. much less its total
cessation. The night ia black. but
here 10 bright day bevond n