The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-12-10
THE HERALD ON THE PANIC.
Extracts for the Black Republican Mes~
chants, Bank Presidents and journal

THE HERALD ON THE PANIC
.~s~~~cr~~~>>o~a~~~-~o~~
Extracts for the Black Republican 1er-
chants, Bank Presidents and Journal
lists.
(Irom tho Herald OF October s.
We know, then, that tho election OF Lincoln be the
signal for sectional dscords; for acts OF political rebel.
lion and scenes OF violence in the Southern States fin
'c'deqreod slhieo' financial ard commercial dranas
nents, from 1chch New Iors-she city and the Stai,c1
G The first and principal sufferer IN Business affairs These
things will follow the election Of Lincoln surely
the pet bank expansions of 1896 followed by the
terrific financial reyusons OF 1897. 80 great revou
ton N our poli',csl affairs as that Involved in Lnoons
OF political and fnancial disasters
From the Herald OF October o.
We do not now insist upon the darkest Possibilities, -
the great political conflict through which the United
States passing. We willing to admit all that
optmsts ask To the uncertainty or the 70
be taken by the southern states the Union the
OF the election OF Lincoln and of tho triumph Of the great
sectional party avowedy hostile to southern institutions
and 10 the influence Of the South in the national
10 be uncertainty, for the sake OF present
argument however clear our own convictions
may be as TO the real drift Of events; but
maintain that, viewed simply uncertainty,
Tie contingency Of armed resistance by the SOUTH ty aay
considerable portion q the South 10 the inauguration Of
77ulof1y elected President involves consequences 50 Ire
10 the industry and the finances Of the aoaoe nao
that nothing short cf posture Judicial blindness epto,a
ne aecs's;s eapo ~ q orr ,.hols ym q commercial
gency eriS, that is Immediately upon as BE- decided for
good o. for e,1t pitin te1c short ueeis, his
from the TERaI OF October cal
To-day publish another batch Of revolutionary doca
ments, which Of the most terrible import And the
with which they invested Is enhanced by the
melancholy fact that the people Of the North do
realize the danger which is at hand They buying
and selling and marry ing aud max ing merry az II Ne
cloud darkened the h0rizon and IL calamity
looming up before them so did the inhabitants Of the
buried cities Of Hercuaneum aud Pompcii Just before
their destruction. They hddled and danced and made
merry and pursued their ordinary avocations without
thought of the future, when suddenly they
dcrs scoria and lava only been dsntcrrcd
from their fiery grave after the lapse OF centuries
We are on the brink q social ond political glccno and
iued into perfect security, notwithstanding the
rumbnounds beneath and the smoke above always
proceed from fire. The explosion may take place at any
moment, and yet apparently unconcerned IL
it q thousand years ahead.
The apprehension Of what Is coming has already ops
extend there it win soon be fell in the North felt in the
factories Of New England felt the commercial cities OF
he seaboard felt by the merchants Of this city, felt by
III classes II In the South that the terrible financial
ievulsion Of 1887 commenced which shook the North
through its whole extent, spreading and dimay II
he panic which II now Threatened in the South should
the consequences the North would be worse
than they were in 1887 II thoy preparing for
iu,,on tney win o. course deem y the most prudent
lolicy 10 keep their money among themselves and not
end IL for goods TO the North; the chances, therefore,.
tia, aaama,ion ia business and commercial rc
SION oonmscg Q, The South 'f soon carry desoa''o''
me day may not Be distant ,chea many cf TIE rYubcan
merchants and mechanics and factory honds al De North
,I curse the day ey wsre e,~r induced 10 join ona,icoi
arty wAicA has brought such ruin upon lie country But
even his would b. bat the beginning Of their sorvocs
from the HERALD Of October ISL
The truth just beginning dawn upon the financial
and industrial community, that IL party whose very
existence based upon the idea that slavery B eyil
and crime" is triumphat at the coming election, tie
wboie vcs Of labor and trade pu Ie reytaonised,
and the fabric Of commerct credit 'ci b destroyed to
give place 10 y system and fabric, In which
the products Of slave labor shall not constitute an se
ment. The denagogues and politicians are crying out,
oh there no danger there Is no reason TO be alarmed
Ap1x ghn IAch wko xwAk
But who ask, will be the first the impending
ruins ], rs the merchants And when they ruined,
san and the iaborers Their immediate and inevitable
ruin attends the fall OF the merchants. These selfish
pures az tney are iassy called o. the merchants are
stence in its heart Every politician, once holder
and demagogue in the country could be swept away and
but sweep away the merchants and every interest and
pursuit in life would be involved In irremediable ruin.
merchants In the land, and yet how great the de-
structon which followed.
From the Herald OF October 2sl
Seward Lincoln, and their blind and reckless followers
hurry the South TO financial panic and revulsiou
exactly similar to that ol 1887 but which will be Gar
more blasting in its effects Northern credit and Northern
sorm and oil ru % do,cn lfore Il The south win be
forced TO make immense sacrifices for self
and to seek new outlets for the products Of is industry
unwilling Of the dangers that would attend serye war
and Of the fears which must dwell in every home sur
rcSnoed ey southern slaves knows nothing Of the inn
conscntng TO the triumph OF political theories which by
warning with the material clements OF southern society
viii produce state Of fear and ruin there that will
eviaby react upon every let our financial
and Industrial interests be warned in time before tho
OF desolaton that marked the elimination of
similar contcs, 10 1857 repeated and dismay
From the Hwup Of October 27.l
But long before these hard questions can be solved
mg,"sc'y pnu'c t,ym apprehension q approaching pea,
col eonry.,' sn Yvccd from south 70 North and FROM
shipping interests Of the North will be ruined and an
who are dependent on them for employ will be ro
,.,s 70 srya, J, ane us yTssas ccaa labor
rhere u1e T. for danger n iaswTection than al ne
che sids n ne line Which dirldes the Union.
Prom the HERALD OF October 2ol
" the black republican conflict much
against Northern interests society as against
the southern, and Lincoln elected nothing avert
TIE terrible consequence The sensitive fbres OF capt
al are already beginning feel the rising danger Tho
weaker stocks, which are merely the growth OF our
cred system are already falling benes,h the storm ana
the stronger viii fee its fury this contest
goes on. New York viii be the first and The greatest
sufferer and on her today lies the o .ns
battle II the Empire STATE permits the bisck repubti-
party to triumph the south must and will take hos
tile attitude at once, and ther w shall haw financial
s,,, end ,v s,ot,,oi s,sSres tAot VIII epori in ihe-
horrors o~yydhi~s ne World Aos ervr ref"cSsch
from the IgERArD Of October NJ
upp, evan N there should be secession and II thu
Of Lincoln should be permitted the event
OF hrs election the next four years there would be
terrible conn$ct o@sNrcn NORM south,
and the extreme excitement, for In that case the
souih would have 10 defend It's social institutions and
material interests against the dominant party OF the
North and the result would be that the harmnous re
atoms between the two actions would be completely
disturbed their business would b. suspendcd
the payment Of the dcbts Of Southern merchants 70
Northern houses would be siso saseudsd and ths COM
mercial and manufacturing interests d the North would
be reduced 70 ruin. 80 tht IN se Of < eesiow AZ
Lircon, wAsAer ssces~cs ovts out NJ MT fkeyy CO
~ do~ls thaf ~ta~e1 dsoss- osd afeine syw tks
North such az tie cou~ry hss never rstneSsed b7~e
IFron tho HERALD, October al
But the revusion of 1s6O-ei, when n shall come
ond ~ doraer u pmssert rccord,pa 10 the 1ors 81 hs
South, hoi vii csme-wi prove beyond Doubt tho
worst OF all Il will differ from Ill former caamitcs
revnsicns BY its permanent continuance Let but q
single state seccde and sec the end Whether