Baltimore daily commercial. [volume] (Baltimore, Md.) 1865-1867, 1866-05-26
THE PANIC IN ENGLAND,
The London Times Report OF tho ''Reign
of Terror and Scenes of s"TumuIt" and
"ROut'' In the City.


from the London Times, May 12l
II anything can justify suspension of the Bank
Charter act the panic which swayed the city to and
fro yesterday may excuse the step. although we be-
eve that the reign Of terror already approaching
its end, and would havespeedily ceased had no nfrac
ton OF the law been permitted Even now it is prob
used. 1t cannot, however be denied that about mid
day vesterddv the tunuh became a rout. The doors
besieged. more perhaps by mob actuated by the
strange sympathy which makes and keeps mob to-
gether than by creditors of the bar KS and hrongs
heaving and tumbling about Lombard street made
that narrow thoroughfare impossible.
The excitement on all sides such as has not
been witnessed since the great crisis Of 1925, i in
deed the memory of the fe surptvors ,Uho shared that
panic be trusted ,ohen they compare tuith the
madness Of yesterday. Nothing has happened since
the day before to justify such fear was every
whore shown The directors of recently established
joint stock bank involved to comparatively slight
they foresaw by suspending payment; but it was
known and confessed that the assets of the company
sufficient 10 meet all its liabilities. and to leave
considerable surplus. Rumors. however like the
false woman in the Laureates legand, ran riot
among the noblest names. and left reputation
assailei. Each man exaggerated the suspicious of
his neighbors, and until report at the same time
unfounded, circulated in the afternoon that the
government had authorized the bank directors to is
limit imposed by the Bank Charter Act it seemed as
if the fear and disrust of the commercial world had
suddenly become boundless,
The statement was baSeess but it served to allay
a panic which had no solid foundation. Even the
announcement that Messrs. Peto and Belts had sus-
pended payment, with liabilities amounting to four
millions did not revive the panic in its first intensity
and the statement that the Consolidated Discount
Company, and the Imperial Mercantile Credit Asso-
ciation had stopped produced little effect. en- had
begun to reflect the nature of the circumstances
which inspired them with such blind ALARM and when
once reason is able to assert its claims attention
its influence goes on increasing until it acquires its
accustomed mastery. We are persuaded that had the
government stood firm the panic would have subsided
of ITSELF the men of business going into the city to-
day would have felt ashamed of yesterdays madness
and if as we expect. confidence be speedily restored
we should attribute it to natural causes rather than
to the interference of the executive government.
"A UNITED STATES PRISONER LEAPS FROM THE
CARS AND Is KILLED-A United States detective off
Ger, having prisoner in custody, passed through
Jersey City on Wednesday evening route fol
W ashln gton. At place known as the Six Corners
beyond Railway. the prisoner managed to leap from
the train while under full headway. The train
stopped and backed uk but as the fugitive could
be found It was supposed the he had made good hi
escape. On Thursday morning the dead body Of the
man., whose name could not be ascertained. wa
found lslng by the track. and was removed to Rah
way for the purpose of holding an inquest
"A young man, the son of prominent
clergyman of New York city. has been arrested ant
committed to prison. charged with embezzling $45
000 from tho Iryinr Bank, in which he vax n elayk