New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1866-05-25
yesterday. Nothing but ample quotation will do justice

In the cts most Of The banks were open b " u
inviting tie public 10 Try tleir resources tu any feeling o.
Tbs nature animated the bankers 10 lhe morning lAel mus
have been perfectly satisfied ly mid da! t lie puulc ~.
intend t0 ny them ana that severely l-'l' "s 't
much Of crowd exccr u zoe immediate precinct OF over
end Quincy Co There people asselpeu 10 s"'''I! '"
selves that the houso was actually shut.
bout the stock Exchange early began 10 be rumored
ha the Ba.k Directors were ' ed for II was not that
their deliberations was eagerly % 49,, ,ronid 81 i,sef
Of the rate OF uscout Nou.u VI Its,
have any great significance on such day. but the onse
world wanted know whether the ha9. nal aieisy ,
feel the panic Tie Announcement ui tne lr 70. YET
wa felt 10 be the kne OF several houses which have oil ate
been much talked Of ana Whose s.onI ,berS rsrer
be critical the Stock Exchange se perhaps mere never
was SO much absolute CONSERVATION was experienced yeslei
day morning. 1t was IN VAN men MlenP'r1t ~ E'p
cool and 10 deprecae tie spreading OF reports NhA
ur ont 70 be se-he feeling Of tie hour was too much Tor
the least exoitahe ana anhoghcee-ts "v - 80
conclusive which other occasions "oud mol nave see
listened TO- Some one sad made W Dis au syine
Act must he suspended and one OF oui cu'ei W &
suggested that deputaon should wait upon the CDaleeor
this courge uon him that and that were put together and
placed upon the Stock Exchange rs accomplished Iae
was stated and universally Deeye9 tRaI rpe
waited upon the Chancellor Of the EAcueI1e 4 Jt 49,
even mentioned Of those who had composed tue deputoh
All this doubtless mere foreshado"hg OF wat he
ward did take place tu at the tne lne s.see. a. I
was mere Imagination The Chancellor answer was iso
cacousy given effect that the Bank might issue hye
millions Of notes above their maximum n.pu' soIs e
10 cover the amount II is curious Illustration VI noH uV
Az this panic question OF confidence mat no sooner vast
breathe a little freely holders of stocks became aucy ana
would sell at TIE runous prices which haa prevailed am
in short there was CLEAN Of sunshine in that most gloomy
place this reminds that the very weather seeeu 10
eympathZe with tie CONDITION VI ihalia'
N tie morning the streets were op'oleu VIZ" ' ~ 81
nausoms past Ia hot haste each carrying some "eeu
spattered mud the dress and faces OF the no less ANXIOUS
pedestrians who huryng 10 get their e POT 81 money
their breecbes pocket II was November gay VIII
November terrors ami little like the month wnen the nav"
thorn blossoms well be conceived Inc beiu Z" ou
slime the belief that the Bank Act had been was
briei Indeed The bubble was pIeAed oy sonJ ecu jay ,
On inquiry the bank 1t was ounu tn,Ie au Do
law NJ Gtouc and moreover il found that the bank
was not particularly Uttered by hesuppuoh thate! VII
all disposed to run TO Government IN tne &
holders had turned we're now IN most responding
state Of mind the cloud settled down thck ana heavy ana
:hus continued inside the Exchange until the close
Outside there n strange and un"onied spectacle
mob of people kept passing up and down L"lnoorN LAM
that locality as they sought read is fate from the outside
aspect Some had denly come from curiosity uu go'dy
stream ot people kept passing IN ana conils out ne 9
were vide open and there nothing Ike crush such as
one the door Of thoaier or pubic meeting zen some
nun anon tie hanki We cannot tell although the mana
ger can and poor fellows ones heart pied io tue ana Io
with them question OF employment or enforced ldlehess OF
he salary coming n Of long pel OF short csmmons 'o
not made moist the broWs Of god many noble hearted
f,ows In Lombard q. things had been getting worse IN
paws the whole street bad become one moving mas %
buck ard hats There was no shouting ana c q as
ordinary crowd of roughs There watson the contra an
ominous silence for SO large coAcouise lAe oH3 u's
being The imperative order oi he iocfan VINO VAN
ATTEMPTED keep ,he tloOughTe ium beng blocked ~
Now, move on. gentlemen Yon please mere "eio Ger,
spots where tie crowd had tendency 70 gamer ho al
impeuetrahle kirt A portion sought 10 enter hhnh l"-
ton were de,irogs TO get out ana tEe greater poor9n NJ
lockers who desired 10 get good position 10 Whtch "hH
was gong forward There intense gazing ai dor"a
they expected every minute TO huge ioos
The face Of the eager multitude No elch catastrophe nap
peIed Of any Of tie banks which were thus favored
by the attention Of multitude but % WIS truly alarming 10
see the eager with which people were pushing INTO einb
llshmens credit had never been qleuoaed even IN
whispers course the alarm had been NED wien ~
"a early the uieuUon was Whispered thittae Llssh
JOINT Stock Bank bad shut Us doors There have been ~ many
new concerns started OF aud names have undergone ~
many changes th, not surprising tho public know e
about the exact position or resources 81 any gwen eauh
nom Cy peopc of course kew what tie bans question
was or thfv had hand 90 inform themselves II
Tas but Young e9nceia' La' az M e ., % ,54 A.
although nominal ca '." o. h''V; ~ .'tu, ~ 80 "a
tue South Z Banking COMPANY ticn 30 lts' changed
lis English Joint stuck Bank aud nttery h'd
lane aud some provincial hanAs. TIE worst feature -
the failure Will thus affect Aiuy 'Na So,
IN tie ecu y VIC. uay have Entrusted deposits 10 uc KEEP
my The suspension ha al the eject 81 that Of hrst class
Hp II tie failure OF another blne-t % wls enoueh-1nd
worked seenng brains Of aose ~o we're pf'd'sed
get alarmed until they also made dash ~ the steps Oh lie
house where their wealth was deposited and addcd 10 TIE
old aud establishments fucad let .fc aad ic eager
inquiry Was answered by req 'n o Ode !uos
10 IlVL,S ~ t month of . saceiSe beref Of
the tale door 81 such and such bank were s-d TO
be- shut and the statement Wat accepted although wax 81
hundred ,nIds would have taken any spot
ync,d t6.m Of The error Names 81 iudi,iuls freely
meu- oned 10 way which business men would not have
ye1ared 10 introduce them 10 whcl prudence
more predominant AID a Gay The crowd surscd aong
Lomhaiust little Streams tcklcd into tis bank ana TIE
oer b.ss and flowed out AGAIN TO mer.o INTO general
lux and .cllN oil tue human Ie Pale cs we're seen occa
sionay upper window taking glance downward At the
c wd and ..aIn disappearing # uo fctAiug the spec
tcc ono cd and much esteemed banker however
10 emerge usual hour and taxing calm survey ~ The
scene wa, heard 10 say in he usual OF Dear
d.ar mel should never a. and he passed
be had lite 10 the mltt 10" heads 81 tle great
nome. we're I'D constant communication DAY. 1t Lot
that there any acu fear % any OTHER great collapse In
tie of afternoon tut the thought that toe panic
were 10 continue and extend II all might be
-
lac effect upon the country bankers and deposofs
not vet known AID tLcy catch the Infection and up
for gold u Is difficult to say what tue resut may be- lie
class # people town who have become alarmed isyeIS
iyrct Il losr who likely 10 become scared Ia the coun
ny Cabs we're constantly driving up al day conseyog
ades aud who pushed the steps TO their respective
blnke as II they resolved 10 slow single minute
10 lapse until they had secured themselves. Now II he
class the country make sudden demand on their
bankers and the bankers complied draw their large
deposits from the City vii be- greater. unless
pmpi steps ~ken by tic Government prevent H. II
better to take Tor granted that the danger very great aud
ppy remedy than TO postpone The remedy until the
evil has ali been done
Add 70 the pecunary horrors Of the dny the failure Of
the great house OF Poio Il Belts, railway contractors
whose liabilities are about 81 5000 -asscts stated
million beyond that amount, but tcnlponry iuconyer
ibc, and you have our present condltoh-ohe when
appears infinitely than that inaugurated by the
OhO Lite aud Trust Company some SIX or seven years
ago in New York his dull dismal drzzly Saturday on
which 81 sen bling, Is one pregnant WIN misery ana
ruin tLousads, both IN aud out of this city eean oi
hope however; IL is said that the panic has reached ITS
climax and that within day or two, confidence WIZ be
gradual restored The Stock Exchange was hopeful yes
tcTdly evening
Amer such a sensational topic, my next involves some
thing Of descent yet may prove importaniOo There's
another aspect OF the impending of interest to English
and perhaps to Americans Here get at least half our
supplies OF food from the continent of Europe Our cattle
come from Russia, Denmark, lIosteln, Spain and llO
LAID: our butter from tie aforementioned country and Bel
GUM; wheat from Prussia and the Danube. Suppose
most of these territories to be Oycrun with contcnding
armies where shall get yciuals from Inevitably
in the grain department, from America. ! have heard
Lr.. 1r.dnr -oIpa ns "a
forcing their great commercial dogma in the United states
But then they always extremely rampant on mat
subject that gets esteem II sort OF Morisons
Pill warranted to effect everything II We have war IN
IL. IL -r..l- L.L.l lrL.l