The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-09-06
S,or39o
PANroS AND PANIC MAKKRs.
from the Paterson Guar dian, Sept L

From tho Paterson Guardian, Sept L.
"What . stupid thing y % exclAim some, 4" 70 re
mere bin holders bank and demand specie for
them, when they know them 70 be secured oy stocks aad
no. Al an likely 70 deprecsie in value Whatever ru1 the
deposition and sIockholder In the bank may run, the bill
holoers can DO In no serious danger"
Thus who u tooraby well acquainted with
the nature Of banking Institutions In general or the
management of tnose within our own limits. But how
Of tsoss Who have reAoned mAauriyi We question Il
very muck. All that the multitude know 10 that other
banks have exploded Carrying dsassr and rua 10 their
xa.ns. fhey know that when times werc comparatively
prosperous-whcn citizens roposed the fullest cond
tence In tho stability Of she concern first one and taen
another burst up with : crash that lef traces Of
seeing others perhaps henn elves, having, hey BE-
leved, competency today, left penntess 70 morrow
trusted her earnings NE Institution the lsbor OF
years expended FOR noushi; hos the Ned pair we're
secessaries Of exiseace Tacy remember how this som
monty for time appeared 70 DO struck with pa
Dor, or even h bosom friend sach sOsnes were nos 70
DO forsoen in day or year-shey Will never DO forgot
tan till full restitution In made mot 70 be woudored
alarm. IKE bow and break against NE Insulation
whose promises they bad accepted.
that there are two Glasses asaaa whom sss public
should b On hs guASd-pasio makers and pAoic
.prs.ds,s r The former me- may properly BE- o'.sssd
man viii no4 give rise 70 = dangerous alarm; wise
man viii spread rhe anIsno desires the puo
pie u tns ne Win poni Out me danger and e1hor til se
within the reach Of his influence 70 avoid IT, But when
the crisss dses come he WIN speak brave words and
CHEEKY poniIag the Indications Of bcer days, and
Urging al /, meet the danger With manly fosttudc Wnen
financial other revuhon occurs, regard The indi
verifying his own predics,n s neud In hu shape
me :ans remark win apply 70 ,e.spHper On me other
hand the individual or journal that win get alarmed or
unmiuss,ed donkey lin such circumstances thai true
greatness shnes forth, thai The qualities Viii ii bespsak
cool when every enc Noand him In Wild wi excite.
ment, who czml, reason whe the multitude atorms
depend upon a. who Win posses the nadence PEG
Pile
spply-who VIII be hill by them and who DO sparcd We
only utter truth old - experience, axd broad ~ humsa
nAiore Lot panic 30 Einatedsnd the individual he
pur posey does rascaietA panic spread and those
who bnndly fellow the wave OF popular tamuls prove
themselves unit 10 lead 70 exercise command Lot hem
shoulder thor mu,kes and 90 sak Into tue ranks enc
old Roman senate never looked % grand shsn the
armies having been annbaed by the great
they passed vote Of thanks 70 surviving General that
pgton never 20 much Warrington In thai splendid
rereat New Jersey, with death In ront-teexuc
ton IN the rear" Then shore forth that manhood, that
forude that cool courage, which. when every thing Ap
peed DO lost, met The ude OF deoa and rolei back
In triumph
The same principle holds good every where me pco.
pie nesd 70 practically e6ucaSd-to be governed loss
BY impulses, BY excitement bv rassiou but far by
rea,on and courage They will thus learn 70 anticipate the
danger, when tnps appear most prosperous and having
Aocustomco themselves 70 survey the evil IN time, they
yin be able 10 meet u with manly foriitude
Jta tho Time Of health thai In which No arc mogt
apt the foods OF fdtnrc dscase tho season OF
financial prosperity 70 DO dreaded Than thai OF ad
versy The carse 10 NOT less i'm oor.ant nau tho effect
banking Institutions have safely paAsed tho prescst
panic, from thai moment their real danger begins. Tue
temptation 70 expand, 70 do Little and ale more,
u amcss nreixrrle THIS may do vet enough while the
winds sl aud the smooth, but let ths nrs CLOUD
begin send forth ~ wind gust oz the begin rue
and foam, while 90 much sail has bean sprcsd-nsn look
oul