The Jackson standard. [volume] (Jackson C.H., Ohio) 1847-1888, 1854-10-26
The Money Panic-Thc Public Mind-
The Bankers.

/
Yeterday, at an early hour, crowds
gathered in front of The Bank OF ELLIS
q STURGEs, and as soon as bank hours
came. made a rush for the counter. books
in hand, demanding return in deposits.
In most cases The applicants were hard
working people, who had managedt TO save
lite 10 lay by Tor a rainy day, and OF
cours were a class whose tears were most
easily excited that their little savings were
in danger.
Towards noon, q like crowd was gath
cred at the Cit'zeas' Bank, making a like
demand. Up TO the close Of bank hours,
both houses were KEEP, busy in calcula
ting intereSt, squAring books, and paving
balances The difference between the
people in front of. and behind the coun
terS was remarkable, In front all was
anxiety and doubt; behind. all was cheer.
rulness, activity, and good humor. On
The face Of the one was expressed the fear
that they would not be able to get their
own; on the face of the other was ex
pressed full reliance in their ability TO
pay TO the utermost tarlhing.
All day the work went on--and hard
days work it was. Probably the same
sight will be presented this morning, for
moneU is tmid hing, and at the first
sound Of danger retreats. Now, is there
any necessity for either starting or con.
tinuing such pecuniary dramas as this!
Let every sober-minded and intelligent
man ask himself the question. We think
not. And why? The failure of couple
of institutions over the river, and the clio.
sing of two of different character on
this side, should not be an argument That
all banking houses are unSOund! We
question ii there is a business or monied
man in the city who believes that the two
run upon houses of Ellis &. SturgeS and
the Citizens, are not, in bonking phrase,
but in the honesty Of plain language,
"SOund, safe and SoIrcnt." Then why,
because peculiar circumstances have
driven certain others TO the wall, extend
the panic so that it shall create such mis-
chievous distrust OF those that are un.
queslionably goodl
These runs have been made by depos.
itors, and by small depositorS. Why
did they deposit! To geta rent on their
money. How did they expect that rent
could be paid theml BY using their de.
posits; by Ioaning them out 10 Tom, Dick
and HARRY. Certainly, no one imagines
bankers could pay rent on money simply
for the privilege Of keeping it for show
on their counters. All these depositors.
therefore, owe something 10 the bankers,
in the shape Of little consideration for
their interests and safety, as we'll as to
their own. All going at once and making
demand, unless there is real danger, is
therefore, doing injustice 10 banking men,
who to Them perform the duties of simple
tenants, paying rent for property in
charge.
1t is these small depOSitOrS, however,
who make these panics, encouraged by
designing men oulside--by DeteCtOr bul
lelns, &c, the tricks of charlatans. Two
hundred men, each having but a one
hundred dollar deposit, gathered in front
Of a bank door, can make a panic
al any time in any place; for who knows
truly where they are the violent claimants
of one hundred each or ten thousand
each, save as personal knowledge may
acquant US with their characters and
means. This is The character of yesier-
days ruu.
Now, fellow.cilizens, each one of you
have an interes in allay ing, rather than
encouraging this money storm. All are
affected, more or less, by a revulsions of
this kind, and instead Of aiding in crea-
ting fears among the crowd, advising the
pressure to 90 on, if each buiness citizen
would use his influence to in!use conf.
dence, urge patience and little faith in
ability aud integrity Of our banking es-
Establishments, but a few morning suns
would rise before all clouds would be
brushed away, and the business horizon
be decked in The sushine OF confidence.
Cincinnati Inquirer.