The New York herald., 1866-05-27
THE MONEY PANIC.

THE MONEY PANIC.
The Crisis Passed Away An Engl and nd
Aster nd its Causes.
From the London Times, May It,
The panic may be sad % have pas.ed array as suddenly
terdAy the won,cd feeling Of security had almost
turned and suspicion no longer master Of tho stua
be confessed that has upon sharply
and suddenly that from which sscopng
ing had happened to excite unusual alarm The bank
rate Of DISCOUNT not high Il has been again
and again IN The lust three yeam and though Tho
81 res OF the Finance Companies had begun 10 pale and
Was known that the Imp rial Mercantile Credt Associ
ation VAS totering there reason TO apirchend
any panic In consequence Of collapse which was dis
tncty forcseen. II Was the suspension OF Overend
Gurney x Co. ou Thursday which awoke the terror OF
creditors The name Of the firm was historical aud tho
magnitude Of It's liabilities showed that the Of
depostors thought Us highly OF the public company with
limited liability as Of the private partncIshin II
was notorious that the spare money OF town and
country bankers had often been deposited with
Overend, Quincy Co. or, at all events, had
formed dreaded the effect OF the suspension Of such
. house upon ths popular imagination. Friday showed
that their apprchenslons were well founded Deposors
TO the banks back their deposits and the banks
unprepared Tor such sudden rush, to the Bank OF
England to draw out their and to bog for fur
ther assistance. -Four millions Of money were lent by
the Bank OF England during the day In addition TO de-
poss repaid; and though q considerable part OF the
cash in hand fell from sS, 727,ooo 10 some.
thing under 90, ,o00 COO This reserve amply sum
eeht 70 meet All ine fapliues oI the Bank OF kngand
but IL " evident that the assistance had rendered
Friday bankers In distress could not be repeated The
situation full OF danger and amply josDcd the in
.eIeishce OF sne eaecnu.e M eo.ernmsat symP,.ns
ness OF the crisis Was past but wns quite possible that
as,or 5 ~ ~ t,nL ch.,,sr.c, I'D, ~. l w. ..s 80
proper act Of caution.
=, "o ~. u,.P'.u W n"Ae .s.'y Pop.' sv"Aneo 'o'
his profit by Investing the money left In his hands and
~ W., ~ -, ,i.."v ,' >, s , ". sao. @ ,nouu oe
p.to. " =, m na ,,a, ,bs. a !" ~ uep% .a.,an sn ~.
.su. ~ s 81. p."'a s.as e WI, 49,. .yn
.nsL ~" "eIe "s nersy W m y.
waut'as. The compe,ition between the banks for Gus.
,om and tne enaessor on tne pat o Ins JON. s,cek
- ~" H 0a1 ILL., ~ "a sne''
S.s.."a.,. - ,.s,-S Wn, - ~ ~. go 49, ~
~. ~. "on ~. Wy .sss' e~.S ny
roanns ~ 1us ~ W Issse '1cmsevs 70 W. Dana % o
- ~ vose'Vr tno u'aeos VI, W tus
pm mcy pIoeusco IIom .neif Dill Doxes An stsmps
En.isn% ~ ,n~ ,ss - ~ II, 49, nr - W. s "
Engand nso INC Isscrvc Q, sn toe osnhs IN LONDON
a. ~ sar..- A.snu - ~. r,.,s,u ~ v"s ,s $500 :" onsy NJ
,,au. III ..s..- .s'.,- s. " ss n..'...n, W..
nr.r,,c.i~ .,ss,ns var,x shss .,arI.sso, -. ,n~ a.
cc,ss a., ~ s,, Ia s. Hs .r " .yu''u @ ~.
s..h ~, 80. wn.,s. - % ,,,, yn. - ~ al ss.p
~ sh, h,,,., ,n % s, ~ "vy ~. =, .,u 49,, ps' nm I'M
- .". .s"s - 10y ~. ~ s~.s a. oAFst s".s
nd ,m,,oyidsnr. hv r..ot,ins a. ,Ss snt ~ rn.nS
Nth hs ~, 10 70 y.carn,s%s H. - 90, :, ~" ~
rey uoon such .s,s,snee ,hsy ."sbi n h, snsrsg a.
2 y ~. 49, ss my .'tn' " w P.'ps.ci "
pay a,,p v ' w. ph, p,'s' ~" 'en -'
u"p ~ FnsI,rd = ~ rn, ,aa,nm s,ppy ins
a,hnr ya,t ~ ~, 80, ,,,n % ,, ~ m,"s ,, - - "'.y y
Yu,, ~ o.hA ~ 80 .s'oh ",As oI JON. s,ocs, 70
,r , 80. 49,, . a... 49,, ~ s 80. 80 .,s,n ~ -. ~ D. .,.
:. ~ Lnssha owe W. same auv 70 'hcii soeshoaer. that
H., ,. nanna a., y e. Ia. e., ' III, w ., ~ Z, w. % I'm, @ ..ous,s -
a., go 90 -. 80 80 g - a 49, ~ - ~, "v.' ~ s''o's
~ ~ ns, ,% % ,o' any M anu 40 sns nsn
,, r,a ~ i, =" e oes' 'eI'"s o.uss,'en. ~. nv WIN
.ouip.s'", We az 'oo, :" pct
% , p,t M % , , ~" an, anu , 'ul.enoc 'S ,eIf.seh
.l,an e 80 ,,s ,s. % y'' $50 p.,'As -. ,Spi.""
nnon % pfes.h,ea ,nssse,ve. IN qnck soeesslon IN
Dos'"s ~, w ',ay sau nesie..eu 'psr' oons,usr
ssuI os Fnsna ~ ,n,,an. s '.s
a, a., -, w. ,.'a.i N' ~. ny ., nnuse /" rs rsa
np', % ii, p'.ns", ,, 80, ~ "s y, , , , 'ols in'
,hs ,oosh ',r,In ~, .t se cs VI, ~
~. s..ar,o. 80 ~ nA,' '.en .lsioo' lbs. .hae
", 'n'' ",..ea u,a w..e vR,hs 70 shss then
w .,". " IT,. ,s,' n,s", ~ "e tohse'
iFhoe % suspons,on v.erena ourney,
CO. was The nr,t cause Of The panioi tho Too scanty
~ 49,, - "a l,' " ~ ~, se" " ~" VI. o',ait
do no., Saeoss she aeon ~ IN. ., he
he olre9ln..sness ou. rght tina. ,he blame Of hsv
by those VINO are propcry sn.~ersole Tor n-iha, The
" % ~ r Az. y, "no ~ os
TIA, day should not escape the condemnation which
% , = ~ " :" y, ''u' ~, =" ~ s,sony .ay .er re-
. ~ ia, ., , - s a. '. ,, w " %, .'s ~. ~ =. ~ ~,
al, ana .s pa.se a.a',s :. ssia,day -o,,.ing
,is n a. ~ ~, .aa'n, ae' sn' sae
SA' 'lg,",',,y,a na ne pane, 2, is47 andg 1857
',' ~ " s .V.as'.ns % W Nv. :, may co
.,,,,s . sss, ~ ,,,s,.s n.y., ,,, w.
pa ,n1,se ~. III ', . h unaen mA.c
.nIa.ns ,h.s " s" 49, "p,s."' y.
Ien ~ I'M s".,, "Io JAM. po's .hs
- as..,n. .' , n'. M ~, p1. oss
- t.',.t.., n..n.. ~ ~. D~ 'n " ~ ,.ran 80 ~.
. ~, i 20 .. w ~, - psn'. 49,, @ n", ~ 's'r
,y , ~ ~ ~ % :. =, "o'e ',,n IN ~, Ionha
.. ~, ~, l. y, rs, ,o, w ~ u. ., ~ ~ ~ Ia s"' 49,.
~ No ,as,1sn,a, I'm, hs, N ~aaia No. re-. h.a -
w w, u" ~. 80. -, - ~ s'' ~. ..s -" ~ sns
-. ,,a.s., :. s.a..s 60, -, ~ - =. 80 - .a ~
s s 80. - \, y ~, nVs' ~ es -. ~. ~ VIZ
ps,snss ~, a,sss .sa n,,,ss ven an .n "a p,my
s,asv s,r.s Ihs r., s,d =, nv. a., ~ fIsL - 49,.
eare Al Ali times ard under All an. egye,
,.,,,,s - ~. n.ns . "a. 49,, ~. ~ ,, w.
:, a.. ~, ---.-.y..i "a 49,. ~, - - \, -
rs,n,s,n sr.,n ,s-~,,. - e,rs,, 4 ..n.e ns..s ~
a., ,hs orsa.yy fu,r,,on. M .o, ,s,c. ~ a,,sSs
nj he mutual eon adenes v,,haut ubt,h rvlI' M,
A. nno..lbIs seems IN be n, An end .,.rs,.saa ~
de p,nt .t Al sueb Tina enable tho IssL ~ rayI.cI
10 throw s credit over those who are dIscredtsS and