The Sun.
London, England, 1847-11-23 00:00:00

lIOW TO STOP A PANIC.

A useful lesson may be learned from the facts we
are about to narrate, if the reader is of a philosophic
or observant turn of mind. If otherwise, the gra-
tification of his curiosity to learn the method by
which the desirable result of "stopping a panic "
can be arrived at, will be attained by the perusal
of this paragraph. During the worst part of the
late " Crisis " in the Money Market,—that is
to say, about ten or twelve days ago,—there ex-
isted in Cardiganshire, and portions of the adjoining
counties of Carmarthen and Pembroke, a total want
of confidence as regarded all kinds of paper money.
Notes of every description were voted all but worth-
less, and, if they could but have spoken, would have
exemplified the truth of the old song by exclaiming,
" you'll find no change in (for) me." Bank of En-
gland notes were even less respected than the notes of
our local bankers, some of our rustic quid nuncs
saying that as several directors had already
failed, it was not at all improbable that thew
bank would follow their example. Indeed we
have it on good authority that 51. Bank of England
notes were in two or three case offered for disposal at
4/. each. This was a dreadful state of affairs, but" it
is a long lane that has no turning." Upon the arrival
of the Collector of Excise' for the district, at New-
castle-Emlyn, he found the inhabitants in a state
of consternation at the position of affairs, and know-
ing well that he was standing upon safe
ground, he at once determined on a course
which he imagined would put a stop to the
groundless panic which was fast taking possession
of all classes, to the total exclusion of their reasoning
faculties. After looking at his compeers for some
time in evident consternation, one of the excisemen
ventured to ask the collector, " Do you take notes,
sir ?" " Notes !" exclaimed the collector, "to be
sure I do, let me have as many as you can." Joy
lighted up the physings of all present, and the good
news spread through the town and its environs
like wild fire. " The collector of excise takes
notes," ono might he heard gladly exclaim-
ing to another, and forthwith every publican
who had money to pay to the Excise was requested
to obtain change for his friends' notes; many, doubt-
less, chuckling and thinking that the Collector would
eventually find himself "in the wrong box." Still,
however, the Collector continued to " change,'
and " all went merry as a marriage bell." Next
morning the collector and a suite " departed for
Cardigan, where he had scarcely arrived, when
a horse-express followed him, with a note from
a particular friend, assuring him "in confidence"
that he had better not deposit his cash with any
country bank, and expressing fears that he had acted
wrong in changing so many on the previous day.
The Collector immediately penned a reply, saying
that he had such reliance upon the stability of Messrs.
Wilkins' bank, that he proposed at once depositing
in it the whole amount that he had collected.
Forthwith the collector, with a bag ofj gold in one
hand and a bundle of notes in the other,
attended by Mr. Cassin, with two weighty
bags of silver, slowly proceeded to Messrs. Wilkins'
bank in the sight of many of the population of Cardigan.
Amazement seized upon all, as it had done upon the
previous day at Newcastle Emlyn, and innumerable ap-
plications for " change for notes" were at once made
and promptly acceded to. A similar scene transpired
at Newport and Fishguard, and at each place did the
Collector steadily persevere in his plan. The conse-
quence, in fact, was that confidence was in a great
measure restored. Had, however, the Collector refused
to take notes in payment, "a run upon the banks"
would have inevitably ensued, which would at all
events have been productive of much unnecessary
trouble and alarm, had no more disastrous results
accrued. It is gratifying to learn that the collector
lost nothing by the transaction, but we have no hesi-
tation in saying that the bankers and commercial
community in general are indebted to him for his
energy and decision in arresting the panic.—lVelsh-
man.

ANOTHER SIGN OF THE TIMES On Saturday Mr.
Tyrwhitt, the magistrate of Clerk. Court, signori
upwards of 500 summonses to enfoerneweelplayment of the
poor-rates due in Clerkenwell.
MYSTERIOUS AFFAIR. —On Thursday last, a large
bundle of linen, deeply saturated with blood, was found
in a field near Chapcltown, and brought '
the
police-
office at Leeds. No clue has yet been found to hi
mysterious discovery.—Leeds Mercury.
RATHER UNcoaIMoN.—A white lark was seen a
few days ago in the neighbourhood of Brough, by Mr.
G. H. Bailey, while ho was shooting. He tried to get a
shot at it, but it would not approach within range of his
gun, and took flight along with its less conspicuous com-
panions.--Cambridge
‘Chronicle.
The Chancellor of the Exchequer has received the
remaining halves of a 501. and
a 301. Bank of England
note. The amount will be paid into the receipts of the
Exchequer,