Wheeling daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1852-1859, 1854-11-10

GFWe notice that much panic has been genera
ted in the Western cIies, oetasioned doubtless in
part, BY the failure Of several prominent brokers'
who have been long known TO the public. We
cannot see thatihiS result should follow. II is
known 10 Oh that the brokers' are in The ,bobt Of
taking money on deposit and paying interest ont.
This Of cVufss gives them q sort OF pToptictoTy
power over 1t, Bnd HAY use iliteelH investing 1t
in all apparently profitable operations, aud lruste
ing to chance and luck TO enable them to ne.
turn Il when called for. Dutng the last six
months the most tempting operations hbye been
presented for their inveslmenis. Stocks Of every
description. With an abundance Of o. least pousi-
bic collateIalS, have Ueen going begging in The
market OF selling for almost any discount that tue
ayarice and cupidily of the brokep themselves
even could indicate Per cents weie calculated
by the DAY almost, and fortunes, almost ineStima-
BILE, were in the grasp Of the brokers' as they sup
posed. They forgot that deP,silOrS would want
their money, and seem not 10 have remembered that
stocks might 20 down aud collateTalS might he
foundWoasvlsSs when called upon to PrOduee.-
Sill the prospects weTo TOO gliteIing, the allure
menp too golden in aspect 10 be resisted. The
bargains were made, the stocks changed hands,
deposition money was paid out, and ample nuuieI.
cal stocks took is place IN the Golfers Of the bFo
keu. Fortunes were MADISON paper, and, as The
necessary consequences, eGlrav0ganCe end reck.
lgsSntSS followed. All was we'll Col a time, 50
long OS per cent. satisfied Lenders themoney was
not called ioT, but the instant that The value Of
money increased lenders called for their deposits,
ds,eEmined to seek better paying Investments
Then commercial tue pressure. Every shit and
device imaginable was T,sOrtel 10 in oTderto raise
the wind. Stocks were hypOlhecated TOT the most
transient accommodations, the most exlIayogant
lTiee was paid iOt tie use Of Il, and then the pro-
It's Cwheh reap were used up. For time this
shin answered snd prolonged monetary life was
secuted BY The biokeIs Of the expense Of biting
and knaWing interest, which could not be long
withslOod The day has come! Their stocks aud
seeurties ore unavailable in The markets for cash
end the greater part have been sole at the most
iu,noui sacrifices by the holders, aud the brokers'
have now lie satisfaction OF beholdins the depart
vre Of theit Brilliant hopes and witnessing the de-
Sttueton OF theft fairy castles, and have learned
that fancy stocks will not pay Wien bought with
borrowed money. Greed and aVaTce, an e1ces'
Siye and graSping cuplddy have been at the bot
tom Of lheirill.i fortune, and they are now Teaping
the bitter fruits OF their ill.altempled weelIh.
Now what is there In these failures 10 inspire
general dsllust. ltiS but the legitimate Tesullof
IuSh experiment which mightietSUnably have been
anticipated byeVely ptoyident mud, and now tlnl
the brokers' I've bad almost said nuisances) afe
making their .1,we cannot but think that the pub
lie will be none the worse Of tieiT loss. Wemay
bs Il, snob butSoit aPreArs to US. The public
will have their eyes opened, money will commend
a fair rather than spsoiOuS value, and money
owners will seek safe and sure Investments rather
than be tempted OF by The iEnus JatuuS Of sptcu-
Iation, wheel has enticed these gentlemen TO de.
slruelion. II viii make the public look 70 safe
aud chartered mo lied Institutions, managed by oIh-
ere Than mere spsoulalors and money traders, and
thus fe.inspire confidence and security In the Top
ular mind. Upon the whole then, whilewe syui-
pathiss with The individual sufferers, we cannot
regard their ,'widd ups asmaletially iniutiousio
the public. The effect must be temporary end The
ultimate results may be beneficial. Ponies ATE
but panies, and should be put dOwnOy all busi'
nessmsn. 81 ~ 4r