Wlliam Gilmore Simms
Selections from the Letters and Speeches of the Hon. James H. Hammond, of South Carolina >> Message to the Senate and House of Representatives of the State of South Carolina, Nov. 28, 1843 >> Page 51

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Page 51

Documents | The Reprint Company; John F. Trow & Co. | 1866, 1978
Transcription MESSAGE
TO THE SENATE AND HOUSE OF REPRESENTATIVES OF THE STATE
OF SOUTH CAROLINA, NOV. 28, 1843.
EXECUTIVE DEPARTMENT,
Columbia, Nov. 28, 1843. Gentlemen of the Senate and House of Representatives :

SINCE your adjournment the late long continued
depression of financial affairs throughout the world
has reached and passed what we have much reason to
believe was its final crisis. During the last Spring
prices of every description fell to the lowest point ever
known, but have since continued steadily, though grad-
ually, to advance. The revival of business has not
been the effect of accidental causes, or speculative ope-
rations, or expansion of the paper currency ; nor is it
owing to any act of legislation in any part of the
world, favorable to trade. It has been the natural
result of industry, economy, and time, which have
swept off a large proportion of the embarrassments
created by the disasters of the past, and accumulated
at all the great commercial points, in safe hands, a vast
and unexampled amount of sound metallic capital.
We have, therefore, good reason to indulge the hope