CHAPTER III.
FINANCIAL CRASH--THE TEACHER.
1838--1845.
The prosperous days of the Anthonys were drawing to a close.

All manufacturing industries of the country were in a ruinous state.

The unsound condition of the banks with their depreciated and fluctuating currency had created financial chaos.

Overproduction of cotton goods on a credit basis, inordinate speculation, reduction of duties on importations, produced the inevitable result, and the commercial world began to totter on its foundations.

The final ruin is foreshadowed in the letters of Daniel Anthony.