The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-04-23
NEw YORK HERALD FRIDAY APRIL 49, 1S5S-TRPLR SHEET.
The Herald and the Panlc--A Very Funny

The Herald ard the Panic--A Very Funny
Frem the 81 Paul innesota) Advertiser Oct 8, 1851
ORIGIN OF THE PANIC.
The NEW YORK HERALD is in its glory. In the
midst of greater degree Of general prosperity than
has been known for years, wide spread panic
coming, one knows whence; going. no one knows
whither-has spread ruin and devastation along the
seaboard. Fearful suspicious, born one knows how,
have taken hold Of mems minds, and a deeprooted
distrust for which one can imagine the shadow
OF a cause, has dsorganized the whole commercial
fabric Of the country. No one can imagine cause,
and yet there is cause-a cause potential from its
very insignifcance; a thing that men despse and
when capacity for mischief is proportional to the
very qualities which make it universally detested.
That which cost ages Of patient toll in gods and
men to rear and generations Of giants to perfect may
be destroyed by single fend or a single fool in a
single night. An army which all the treasures of
empire have been lavshed to equip, and all the re-
sources of skill and genius exhausted to make irwin
chile, an army disciplined to mathematical accu-
racy of movement and brought triumphant through
hundred glorious battle fields. may be disOrganized
at word annhlated by one false craven cry in the
very acme Of its triumph, and the fruits Of q hun
dred victories lost utterly by single misereant,
whose recreant sauve q peut should fire the fearful
panic that sumbers like mine under the frmest
mien and the most matchess discipline.
Confidence is to the commercial classes what cOu-
rage is to armies, and lies at the mercy Of any vii
lain whose caprice or interest may dictate its des-
tructiOn. What the midnight incendary il to the
glory and pride of cities, what Iago was to the do
mestc peace of the Venetian Moor, what the devil
in hell Is to human happiness; all this, and more if
more were possible, has the NEW YORK HERALD
been to the business and social interests of the
try. Battening like unclean bird only upon car
rOn and garbage, this Internal sheet lives solely by
wild excitements OF its own creating, and like an
obscene picture monger trades upon the passions it
infames.
Peace, plenty, calm, prosperity are death to such
journals az the HERALD. It's throne is tempest and
,to ota Inv <ha
and unnatural excuses of society. It advocates no
system and adheres to no line Of policy. It's cry is
the cry of the Jacobns destroy overturn demolish,
kill, stab, burn No private reputation is safe from
its pestiferOus calumnies; no interest of society is
secure from its blasting obtruson.
Six months ago it found the country prosperous.
happy beyond paralel-Our whole financial and
commercial system resting by its own con-
fesson better basis than ever before. It's
daily circulation began to diminish in conse-
quence of this state of things The temple of Janus
was shut, Othello's occupation gone. The devil
never plotted against the millennium more deter
minedly than the HERALD against prosperity so
fatal to its interests With nothing else on which to
base the prediction than fancfu theory of periodi-
cal revusions, which made 1867 an Ominous number
in the commercial calendar this incendiary journal
sounded an alarm of danger to the financial world.
Every individual defalcaton fraud or failure was
thenceforth linked to chain of impending disasters
An Opportune case of railroad Encouragement was
deXterOusly converted into a rule OF universal cor
ruption. One failure was interpreted the signal of
a national bankruptcy The plausible calumny was
at least worth precauton. Men got suspicious The
stock Of particular railroad fell The depreciation
of class of stocks used to cast suspicion on
every other, except POtosi and Parker vein. The
malignant poison was poured out day by day, and
drop by drop persistenty and untirngly, in the
OF society. The fearful infection took slowly. Men
became at length bewdered in half-formed sus
picions.
From the first idea of danger to the universal
madness of panic is but step. From the Pickering
ignition of the ncendiary match to the conagration
that wraps the heavens in havoc is but an hours
space. This is the history Of the present panic
We defy any one to give any other. From the mo-
ment the fearful insanity of mutual dstrust took
root in mems minds the HERALD was in its glory
Its circulation increased daily. hundred thousand
men are ruined by the false disst created by this
wicked monger of lies. What matter for that The
HERALDs circulation rises daily. The commercial
credit Of the country is destroyed at a blow-our
manufactures are stopped-our schemes of internal
improvement arrested and hundreds of thousands of
honest men reduced to hopeless beggary. But what
matter for that the HERALD be in its glory! Ten
thousand new readers week! Why, Murat drew
not such crowds under the reeking guilotine. Ten
thousand new readers-ah! ha! Bring fuel to feed the
flames. Calm reasoning and wise philosophy and
prudent advice will not sell in the market now. The
Post and the Times are too tame for the times
The HERALDs drugged cup is the madmans drink.
The HERALD's mysterious conjectures and dark
hints. and fearful forebodings-the HERALD, the
HERALD for me. Ten thousand new readers week
-ah ha! The HERALD is in its glory.