The weekly Minnesotian. [volume] (Saint Paul, Minn. Territory) 1852-1858, 1857-09-26
CrOaktng.

The commercial editor Of the Chicago
Daily Press, thus hits off that class Of per-
sons who are forever trying to get up pan
| ic, and keeping it up when raised:
Croaking is by many regarded as an inno-
cent amusement, especially proper for an ed
itorial sport. Rather glnomy one to be
sure-but not at all object nahle. Bv 9th
ers it Is regarded as at the worst only one in
| FIRMLY having its cause in narrow or dis
corded intellect. TIE latter is tar the most
charitable view of the subject, anl there are
10 doubt cases where this IS the true diagno-
sis. The minds of such persons, seem to
possess the qualities of SIN .ked sla lrnIa art
ing something of thrir own dingy hue to ev
cry external object, and clothing the whole
universe with sad and porten,'us aspect.
Such persons prophecy evil things with en-
tire sincerity, and for that reason, with some
power Every quarter Of the commercial
heavens wears to them perpetual and ON
inous look of fiery Indignation. Between
the croakng which is disease and that
which is a crime, there is no middle ground
to exercise the calling as a diversion. The
shade of turpitude which attaches to this
course when adopted insincerely by the con-
ductOr OF public journal, either for the boy
lsh object of creating sensation-or for the
more serious and more wicked ends of lucre
or revenge, is illustrated by the history of the
late financial pressure.
1t has now become evident, we trust, to
the most hypochondriac intellect, that the
late disturbance was sheer, unfounded pam
ic. The combined resources of the country
have been subjected to sudden and power
full stran-such as will not perhaps occur
again within quarter of century-and yet
not q strand of the great cable was snapped.
While the banks of the country were sailing
under bare poles, and the mercantile cl IS
seemed to be in still barer condition, hardly
being able to show the polls of their former
mOnied means, and willie as the consequence
of this heavy jar to the credit system of the
country, bank here and merchant there
were overthrown, editorial croakers rolled up
their eyes with owl-like soiemnity, and asked
whether there was any doubt now that dis
astrous storm was impending. We, for one,
have never for a moment doubted that steady
and skilful croaking mi. hit produce panic,
and we have still less thought of questioning
tn, power of a financial panic to produce Sc.
rious disaster; and we have for these rea.
sons set our face like flint against the
whole manOeuvre.
Such has been the actual history of the
past few months. Cracking, partly weak
ness, but mainly gamblers trick, brought
on panic, and as the result a few time hon
ored institutions have been hurled down,
and some of the oldest mercantile houses
have disappeared from the business world
A little fire can kindle great matter, and
still smaller character can apply the torch /;
and if ruin carried into many of the highest
walks of business, and If agony sent through
thousand households are gratifying evidenc-
es of power, our croaking friends must just
at this time he in very serene state OF mind.
In one sense the trick has been successful
Differences have been seen at the stock board
"a very pretty quarrel has been excited
among several imp )rtant commercial inter-
est<, and on the whole respectable amount
of damage done. In its main direction, how
ever, this cracking has proved ptiable fail
ure. The experiment of boring the jaw of
Leviathan through with thorn is much
more feasible than for editorial crOakers and
Wall street financiers to vitality wound the
rugged commerce of the whole country. At
ter all the recent spiteful and persistent at
lacks, American commerce backed by West
ern agriculture laughs at the shaking of the
spear, and in the Very midst of these attacks
IS girding like strong man to RIM race.