It has been stated on high authority that our commercial embarrassments are chiefly ascribable to the commercial and financial difficulties under which America has been for some time struggling, and it cannot be doubted that this cause has had considerable influence 258 upon our trade; nevertheless, it is My Firm Conviction That the Present Painful Crisis in manufacturing prosperity is in a great measure to be attributed to the indiscreet exercise of those unlimited powers of production with which our elaborate machinery furnishes us.