Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1857-10-16

B1gnSome months ago, while shOw-piece--the Ia
king of ebastOpO-was in of performance at one
Of the large Italian Theatres, portion of the scenery
took fire during the enactment Of the sOmng of the
Maakof the audience checred yOcerOus y, thinking it
part Of the spectacle but finding out the real nature of
the affair sudden panic seized them and although all
real danger before they were fully aware of its
existence the frantic muttudes rushed in wild frenzy to
escape crushing and tramping first upon the weak and
finally upon strong and weak alike guard Of soldiers
at the doors ordered to keep the people from rush
ing forth They received the crowd their eveed bay
onets The first ranks of the panicstricken multitude
were mpaled upon the weapons of the soldiers Still
the frantic pressure from behind increased and the sol
ders and fallen citizens were alike tramped under foot
and bruised out of life and even the sembance of human
ity.
There is no reasoning with panic. The thoughtess
multitude cheered while the real danger existed and
y became conscious that there had been danger by the
means taken to extnguish the fire.
The financial position of the country presents very
similar appearance. While wild speculatons Of all sorts
were adding the elements of real danger to the splendid
but deusive spectacle Of fabulous prosperity all cheered
and reioiced-the New York Banks added fuel to the
flame by still greater expansion until they found them
selves forced to adopt to quench the flames them
selves had stimulated and their violent measures to that
end have caused stampede houghtess and unreason
ing as that of the frightened audience Hundreds are,
financially speaking bayoneed to death by the stringen
cy of the financial police but these too are tramped
upon by the rush they can neither stay nor escape FROM
The city referred to, Leghon, we believe, next
day full of mourning and many loved form was seen no
more The thing like wild dream, but all felt that
panic had caused the death and desoation so generally
lamented If each had kept his place without unduly
pressing on his neighbour all would have been WE'LL
Such appears to to be the If it were not
for the panic existing serious harm could arise No
great calamity has visited crops have failed, no
pestence has spread the landno money has been
drained for foreign specie itself has not left
us,-we have as much as ever we had. But we have a
stampede. The money at any time in country bears
something of the relation to the whole amount of
property and business transactions that the doors do to
great building. The doors may be sufficient to allow
all to pass and repass quietly and pleasantly in due time
and order but not all rush at once The money in no
country under heaven could pay its debts or square all
its transactions at once For, after ALL when we come
down to the actual money! the specie is the only basis
and through that pass supposed to pass the vast
amount of debts and credits bank bills included There
is money enough to adjust all balances seratm but not
at oncethCre never is and never has BEEN and panic
can lock the wheels at any time.
The worst of it is, that the identical New York Banks
that created the danger were the first also to create the
panic.