Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1860-11-22
strIngenoy Ia the Money market.
No cause Tor a Panic.
Irrnm 40 =. y. Conner an,i Rnouiror.l

- n panic III tbesm0ueY market Us always
to be deprecated; but when certain of tho
City Ranks, We care not by what means,
or whether accidentally or not, make
themselves parties 10 such panic, they
virtually become responsible for its exist
cnre, and almost invariably fall before it.
What is the state of things in Wall Street
at this moment
In the first place, wo assert without fear
of contradiction from any quartcr--aye,
without fear of contradiction even from
the few Bank Presidents who foolishly
embarked in the paniC-making, not see
ing where it would lead--that at no Pc
riOd in the month of November, during
the last twenty years, has there been such
abundant and overwhelming reasons for
an easy money market aud snperabund-
ance of money, as since the first day of tue
present month OF November, 1860. And
yet what is the existing state Of affairs
Not only u Panic. and money almost inn
possible To I've procured bnt IN absolute
certainty that unless the Banks come TO
their senses, and that quickly, too, sus-
pension of specie payment will become
matter of absolute necessity.
In 1857 the Banks very foolishly rushed
on TO precisely the existing state OF things,
They then, but with greater cause than at
present, produced the issue now rapidly
I approaching; and that Issue is whether,
( the Banks without cause, and surrounded
by every element of prosperity, shall break
the Merchants, or whether the NerchdntS,
: III sslt-dcfeRcc, ejt0H break the Banks! We
stand where We did in 1857. We stand by
the Merchants; and we tell them now. as
we told them then, either compel the of
Tending Banks to do their duty to the COM
J munity, or make them suspend specie pay
ments. But says the innocent reader, if
there I've no cause for this panic, how has
! it occurrcd2 We will cniighten him. In
the first place, the South never pays, and
/ is never expected to pay its indebted
ness, uutil December and January: of
course, there is no pressure on the money
market from that quarter. Secondly, Ex-
change is in our favor with every point on
the Continent, and the foreign exchange
unusually so. And thirdly, the grain crop
in the West, is double what it ever was
before, and his thus far ben moved with
unusual facility; and everything combines,
as we said before, to render money more
abundant and trade more prosperous than
ever before in the month of November
And ct ruin starcs us in the face; and
men of substance and credit, and high
mercantile character fall before the blast
But whence comes the blast? We answer
from panic among q few7-a very few
weak and incompetent Bank officers.
Before the election it suited certain poll
TEXANS 10 get up panic in the money mar
ket to defeat LinColn's success, and a:
Bank officers are but men, aud men arC
lx-nnliticiAns--itisP pot s1FapEfa. lila
Doubtless they thought they could contro
the panic thus created; but children mus
not play with edged tools; and the partie:
alluded to begin TO discover the apprecia
ton of the adage. Well they had their
ante election panic; and no doubt all con.
cerned In it made money, and then suffer.
ed things to resume their usual position il
order to realize the fruits of their III.
gotten gains. After Lincoln's election
WAS known. and South Carolina proclaim
ed her determination to break up Gov.
eminent she could not rule, the panic ma.
kers grNvely determined that another dose
would do no harm, hut yield a rich bar
vest, and at the same time injure the in.
coming administration.
We have known and observed init
mately, every pulsation of Wall street and
OF onr monetary system, for thirty-three
years past; and if not exceedingly stu
Pid, we should by this time, know some
thing of the subject upon which we write
And we venture to say to those of less
experience, that the only certain mode OF
precentiHg mischief now, is to resort 10
what proved the remedy for the folly, and
ignorance. and madness and arrogance OF
1857. There exists no earthly cause for
pane or stringent money market, except
in the INSCRIPTIONS conduct of politicians
who desire to embarrass the Administra-
tior Of Mr.. Lincoln by injuring it in adj
vance with the people. Time will prove
the truth of this remark and then, if we
mistake not those who have produced
this ruin and disaster for vile political
and selfish purposes, will find that the
evil they haze done, will not be immedi-
"tely forgotten byan intelligent community.
/ o. -, "-.