The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-10-31
The Attempsed Panic.


From the Courier and Enquirer, Oct. 90
The history ef politics ia this country exhibits nothing
made last week by capitalists and democratic Unon
banks 10 create panic In the money market in the hope
o. thereby driyog the people INTO tho support o. me "a
sion ticket We charge, and IN court OK law coala
prove, the existence OF conspiracy TO produce panic
which far exceeds in inamy anything Of the KIND ever
give the OF brokers aud banks concerned
In the conspiracy which woad utterly aslound oar Ioau
err, and consgn AL implicated to the richly msr'ei oon
tempt Of the paBhc sgiudDg = crime ~ai "a as.ilo'
different phases; but never s Il more despeAo shl ~
blue 10 cheat honest ont 81 tier properly etuSt ~
The purpose Of elrchns themselves OF 49,. 49, + n-cseiv
accomplish political pufpose 40 yes .bs sue
Gers far the chcaitas was eoh0efH'0. ~. 49, -
e,ols have MOI been, AID S DOL ", Pro1uoeut esen
the extting attempt 70 &C., ~ 80" ~f@A ~ ~
~ $3.50 O ~ -, week re we're Rpprised that comb
nation mad been erred into between certain very heavy
hankeye aul banks ~ "cai ln smut llcoasy all their
ca loaEs .hus produce psnic IN the stock mar
ket whgh was then 70 be attributed 70 apprehension OF
drsoutian o. the Eni1n II Liacon should be elected,
and lhus drive voters om tie republican 70 the fusion
ticket on Taesday next He gave tho N tho n
dgduas and banks said Y 20 parties 70 The conspiracy
and said that be doubted not but the work then pro
crossing as be knew that he notices for the retarn q can
,oans bal been extensively issued and 1e nxed the ar
rauee a. the plot the evening OF the meeting
the corner Of Anthony street AMI Broadway.
We paid but little attention 70 tie story, mol believing
~ p0stibe that capitalists would indulge 10 such IA
zardous game to achieve momen.ary political purpose,
which al beat could only Lessen Lncons majority
city, and in way Affect his election Darug tue m1rn
ing broker after broker repeated 10 - that the
meet fearful attempt Is DO IN the stock rarxe.
which they had witnessed ,hsn N opcratl
Ana they added tina. the cry the street ia, Dis
solution OF the Union vas Inevitable Lincoln e 1ud be
elected that oil stocks would IA that event fall from ten
W twenty per cent and therefore Tie oay safe course
vas to push OF everything And 70 insure the sac Of
stocks at depreciation there stood tie notice 70 return
All call loans p To toe uniIltatei sc SHOULD eGPan
that the Of dealers aud men Of small capital -
borrow call" within 7e ten per cent 81 Tho nafket
value Of any stock, ald thus VIII email sun Of money
hold for rice large anouot 81 siocA mus
with hty thousand dolars man % Ay easily tel uHl
million or q auy goot stock Ra. wnen tue enodn'
loaned Is called IN twenty four hois' Doiee Ito liws,
Of course, that he must borrow somewhere else, or sell
his stock Now then when tie parsons l3anng co none
call their loans what mas the nno sent holder 10 do
but 10 throw his stock upon the MARKET Or II he refuses
10 do this Why then, the captls. sends the stock 10
bros be sold al auction the highest bidder agroea
bly, 10 the prlted conditions Of the loan OF course,
comb nation Of this KIND may force many mla0a Of
upon the market the Same day, and, So rho
TO become the purchasersf or course, the act Of
forcing large amounts Of any stock upon the Market pro
bned produce ths result stand 2l0of z necessarily l
lows that the stock continues 70 decline unt 1naay III
purch1ed ~ very low lgaTe oy The very persons wa0
have forced upon the market, and possoy arranged
among themselves al what price they should plrchase
Now this vas The game Played 10 orr city all last week
and TO giSe efficiency to H. rr Cobb, tie ,osay OF the
Treasury Of the United Seteg present the spot
procaimng that m the event OF Lncoas election 4 s.
union wac certain and the toai derans emsnt Of oar
tary aaairs inevitable The result WAS panic IN
the stock market which robbed honest men Of millions
az dollare bies pjurng the property Of the wtoS and
the orphan and the retired ouCnrss tee amount
81 tens or mons and al % enrich the consp&0rs and
10 prevent IN possible the elocloo o. Lincoln We
Of no highway robbery more deserving Of punishment
than the robbery oy capitalist gEo loans hs money "on
CALI upon stocks and thea con5laes wth other caqal
compel the borrower 10 sell that stock ten
per ceut below lie real value, and become The plroher
q Il himself lie may attempt 70 s!le his Conscience by
pleading that II was to achieve great political object aud
rave the UHiou; bat hell hin that IN the ~ OF God
and all honest men he s roshe and thief aad should
be treated SUCH although tbs aW cannot reach him.
The New York Central, the Erie, the Harlem aud the
Hudton River railroads were tie principal stocks ope-
rated apon 70 produce the panic but, As vel tnoSaI
he entire stock st was affected, AM even The best Of
iae stocks were compelled 70 give way under tic aci
touf demand for money thus created; snd thai, too
Through the pTeseI Of the Secretary az the treasury
~ here By The consprAtors to all then in alarming
7, -"euEg The willow and orphan. We give,
herefore the trapsac sne s.ocas re',rrsl e % -
1nordirg general view Of the ga ~nlv how enor
pave been the transactions IN four stocks g., 80"
nous must have been the operations In the en,-
lst including secuTities What millions OF proper's
ave tus been rulhlessly destroyed and how enormous
M amount Of tbis system,,c swladliug and highway
robbery under the Anspees OF inc government 70 po4ace
no sals n New York Central forcash during the week
amounted 70 es2 shares and shor. tune 70 10 500
amounting to &c SIS COO The saes Of Hudson River Rail-
road amounted - gsss shares the sales OF The Erie
amounted 70 II lts shaTeg, nearly two MILL ms 81 dol
lgIs and Of Harlem 20 1910 shares. And u 70 ne
wondered that under this pressure New YORK Central
fell rer cent, equal to depreciation OF million aud
haif upOn It's capital or that Hudson River fell four
and hall per cent, Harlem three and quarter and Erie
n he md three quarters equal 10 nearly million ar
All Of properly struck out q existence Tor 80 tim being
10 Aoh ye base pollilci purpose Aud AL this under
or the Secretary Of The Treasury AMI through
agency capitalists who call themselves homes while
they combine 70 rob the widow and the orphan
And now, Msssrs Capitalists who have been engaged 10
dirty work Of dcprccatng the property Of your neigh
oos under the a1spiccs n the Governmentand you
featbercd Jour nests BY what IL no better than
ghway robbery-do you imagine that you nave gained
vote Tor fusion By the operaiionf Perhaps yon laugh
"a your sleeves The question, and say that only
cover Very possible. But take word for u, your
snAvery has added ID The city and State tens Of thou
Sands 10 Lincoln vote Possibly you anticipated such
resut and looked only TO making your fortunes By tue
operation. BIT not the government and Mr.. Cobb.
They we're least believing that by the panic
they would pjure Lrcons vote, and they acted like
Eusves Is produce such q rerut We congratulate then
IL IFsftf, "a cons N hi.