Lost bag

Neat little quote from 1837 I found on Crawling Road:

What has been, what ever must be, the consequence of such a sudden and prodigious inflation of the currency? Business stimulated to the most unhealthy activity; a vast amount of over production in the mechanick arts; a vast amount of speculation in property of every kind and name, at fictitious values; and finally, a vast and terrifick crash, when the treacherous and unsubstantial basis crumbles beneath the stupendous fabrick of credit, and the structure falls to the ground, burying in its ruins thousands who exulted in the fancied security of their elevation. Men, now-a-days, go to bed deeming themselves rich, and wake in the morning to find themselves stripped of even the little they really had. They count, deluded creatures! on the continued liberality of the banks, whose persuasive entreaties seduced them into the slippery paths of speculation. But they have now to learn that the banks cannot help them if they would, and would not if they could. They were free enough to lend their aid when assistance was not needed; but now, when it is indispensable to carry out the projects which would not have been undertaken but for the temptations they held forth, no further resources can be supplied. The banks must take care of themselves. “Charity begins at home.” The course of trade is turning against the country. We have purchased more commodities abroad than our products will pay for, and the balance will soon be called for in specie. The banks, which lately vied with one another in effusing their notes, are now as eager competitors in withdrawing them from circulation, and preparing for the anticipated shock. They have no time to listen to the prayers of the deluded men whom their deceitful lures seduced so far upon the treacherous sea of credit. They cast them adrift without remorse and leave them to encounter, unaided and unprepared, the fury of the gathering tempest. Or should, perchance, some tender hearted moneychanger relent, and consent to tow a few victims into harbour, is it unreasonable that he should charge wrecker’s fees for the service—half the cargo and twenty per cent commissions on the remainder? The cashiers of some of our banks can tell you that these are but the usual rates.

William Legget

December 10, 1837

So I guess we are in for inflation next, bugs me, what to buy? A house? Gold? Money can't be worth this much, it will loose value.

So I spent some time trying to contact lost baggage at United for Dan who left a camera on the plane, I didn't feel really qualified for this, but he was convinced that someone had to go to the terminal 7 at LAX and talk to the guy directly, I am sure that the reason they weren't getting back to him is they are too busy. In the end, I get an email from Dan telling me that it is all resolved, they did get back to him and asked for a FedEx account to ship his camera back to him, cool, I didn't have to go to the airport after all :) I thought that was a fools errand.