Worcester daily spy. [volume] (Worcester [Mass.]) 1850-1888, 1857-10-26
at has eieUen houses.

The PANIC IN NEW ORLEANs.-The excite
ment in New Orleans last week exceeded that in
any other city during the panic. The day fol-
lowing the suspension of the New York banks,
the greatest excitement began, and the New
Orleans papers give sad accounts of the Temporal
ry effect. The suspension of the Mechanics and
Traders Bank, the Union Bank, and the Bank
of New Orleans, with run on the Citizens
Bank, did their work in the community Wednes
day night. In nearly all the small shops and
stores in the suburbs, all kinas of paper money
were refused. The Bulle5rhsays
"The consequence OF ,Feiebt was a panic of
the widest kind partis lines, if sO,ong the poor
iaroelv anon the atom apply fright. 6ne man
with .5t2U "a ruth River u based annnpr 4a-e
- 49,, ans of 4I.s asq dalntance in the Fourth
District $3.50 in notes on the Louisiana and
Citizens Banks. Another bought $40 on
the Louisiana with 500 in specie, and $50 on
the Citizens with $18. Another bought a
check on James Robb for $37 with So in
cash. The foreign and uneducated popula-
ton suffered in this manner, and were feeced
in the aggregate of many thousands.
Thursday, at the Citizens Bank, long be-
fore the doors opened, the street was crowded
about half the crowd being bill-holders,
and the remainder idlers. A scene of the
widest confusion followed. The crowd acted
like Bedlam let loose-scrambli fighting,
shouting, losing hats and coat-tails, and
densely jammlng the interior of the bank in
an instant. The bank officers, finding them
selves beseged by crowd of madmen, Sc
cured the vaults and mounted the counter to
keep the crowd from scrambling over. 9th
r;o1 20 -, 81,
dows, but were hurled back. Intelligence of
this being sent to the Chief of Police, that
officer despatched all his specials Philips,
Isard, Boylan, and Farrell = with two or
three other officers, to the scene. They ar
rived, fought their way through the crowd to
the counter, and then turned against them.
They got an iron door. bar, with which they
faced the crowd, having to fight freely with
their fists at the same time, some of the be-
seigers being highly belligerent.
The officers of the bank aided in the
work, and by dint of the hardest pushing
and fighting, the combined force succeed
ed in forcing the crowd past the inner door
into the passage. The bar was then placed
across the door, and the police had to fight
in defence of the bar. 1t being impossible to
open the vaults with any safety with such de-
fences of the doorway, word was sent to the
mayor for assistance. Mr.. Waterman at once
sent orders TO all the recorders to send all
their men to the bank. In due time O force
of about sixty men arrived from up town and
down, headed by the heutenants, with some
men sworn in by the mayor, specially for the
occasion. This force getting inside the bank,
made lunge at the crowd, and swept it clear
out into the street.
A double line ofpolicemen were then form
ed from the curb stone up to the bank door,
and strong posse placed inside to keep or
der. The crowd were then let in, ten at O
time, and the work of redemption com
menced. On coming out the cash carriers
were sent off at one side.
For several hours was the rush kept up,
and the panorama Of faces-men of all classes
and colors--women ditto-and boys-was va.
riegated in the extreme. Anxiety, fright,
and grief, were visible in the faces which
streamed into the bank we never witnessed
such spectacle. Everybody seemed to think
he OF she was just little too late. BY one
O'Clock the rush had subsidized considerably
and when the bank closed, at three-havine
pvid out about 800, 000-the calls were com
paratively moderate. The calls were seldom
for large sums-the great majority being FOL
sums varying from So up to $3.50. During
the greater part Of the time Royal street in
| front and the whole vicinity was so densey
crowded that no vehicles could get by.
There was more or less of run on the 9th.
er specie paying banks, but all the excitement
was around the Citizens Bank"