The Tiffin tribune. (Tiffin, Ohio) 1868-1887, 1873-09-25

NEW YORK, September 22.-An Of
fetal statement is made this morning
that the Assistant Treasurer win con-
tinue 70 purchase bonds, in accordance
with his notice OF Saturday, paying
for them in currency at the average
price of that day. Secretary Richard
son said last night he did not see that
he had the power to do more than buy
bonds, and all the five-twenties offer
ed will be bought without the delays
of red tape. The Government, the
Secretary added, il not trust compa-
ny or loan institution, and it's douot-
full whether Congress would sanction
any such construction OF his powers.
Wall street to-day presented
most extraordinary spectacle. It
would be difficult in the necessarily
brief limits Of . newspaper report to
give o correct idea Of the excitement
which prevailed But the excitement
to-day was apparently of an entirely
different kind, TO the intense anxiety
observable on Friday aud Saturday,
which had its origin in q condition of
universal panic. The streets, that is
to say, Wall street, Nassau street, and
Broad street, were crowded. 1t was
difficult for pedestrian to thread his
way through the different groups
which occupied the streets and side
walks alike. OF the thousands Of
persons who blocked the streets, the
sub.treasury steps, and any other
place from which a view OF the neigh
borbood could be secured, probably
one-half were drawn to the spot by
curiosity alone. Conversation on the
street was not so excited as 1t was
forty-eight hours ago, and there
seemed to be 3 general Impression
that better state Of feeling existed.
and that mutual confidence was likely
to be re-esta5Iished.
Notwithstanding the calmness of the
majority, however, there were not
lacking certain hot-heads who reck-
lessly circulated rumors calculated to
do infinite mischief If they gained
credence. Confidence increased as
the day advanced, and abont 2 o'clock
there was a sudden shrinkage OF the
lines at the paying tellers' windows
at the banking houses. As soon as it
was known amoLg the merchants
that the purchase OF bonds was unin-
terrupted, and chat the rule adopted
by the savings banks OF requiring
thirty days notice for the withdraw
al Of all large sums was accepted
without any disturbance, the certifi-
cation OF many checks was not press
ed, and il was evident attbe banks
that depositors were beginning to be-
Eeve that the storm had passed. ~
In conversation to-day Secretary
Richardson stated his belief that the
panic was now at an end, and that
there need beno further apprehensions
Of trouble. He had no fear OF any
wide spread disaster resulting from
this, as the country was in q very
prosperous condition, which was
shown by the fact that throughout the
panic there was no call upon the Ma
tionas Treasury for assistance but
from New York, g slight one from
Philadelphia, and still less from
Washington. From the west and
south there had been no request for
aid, and he had no idea that there
would be. He further stated that the
government would continue to pur-
chase bonds as long as persons would
bring them, but he did not suppose
that they would be offered for many
days.
The day closed with confidence
greatly increased, with the general
opinion that the crisis is entirely over.
There seems TO be no reason why all
the banks should not now go along in
regular manner.
PHILADELPHIA, Sept. 22.-The e.
nancial excitement has subsidized. The
run on the Savings Banks has ceased,
and the National Ranks experienced
no unusual demand for capital. iFa