The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1873-10-01
money In lie unfortunate stocks and

bonds. q l$sI's sEay ise7 z.hITF
No merchant has failed, no manufact-
uter has failed, no Ishipowner has failed
| no national bank or other bank that con-
fined It's business TO the legitimate bust
ness Of banlis has failed; no saving fund
that had lie moneys invested in mortgag-
es and Government, State and City bonds
40 The, old Philadelphia, Western and
most Of our city institutions have, has
failed; no railroad founded on solid capt.
tai and built through o populous, pro-
dnctive country has failed. The failures
have been confined to a lew imprudent
investors and a few venturesome opera.
[tors. They are not only few In numbers,
but they are insignificant compared with
the immense numbers who have not fail.
ed, and who are not likely to fail, because
their capital, their trust moneys, their
means, arc invested In substantial proper.
", In solid mortgages and bonds, in pro-
ductiye business, In useful, necessary and
indispensable productive works, in rail-
ways, factories, mills, toundries, ware
houses, ships, vessels, grain, provisions,
cotton, wool, manufactured goods, indie
|structible materials, and the like. Should
|the failure Of that imprudent, venture.
some few be permitted TO spiead distrust
and panic among these thousands and
millions who are prudent, substantial and
sound, with their overwhelming posses.
|sions Of all the elements Of strength,
wealth and prosperity Gould anything
be more irrational. Il. s.-
Y Therefore let the panic be confined to
the stock boards; and even there 10 the
stockswhich have no capital at the back
Of their debts. There Is no reason Tor 1t,
and IL should have no place among the
body Of the people, or In the channels Of
ordinary and legitimate business or trade.
"a house and lot or q workshop or ware
house 10 worth fully as much on this
twenty.ninth day Of September as It was
on the twenty.ninth day Of August, and
mortgage upon 1t has the same value. A
well chosen stock Of goods Is worth quite
as much now as 1t was then. The bonds
of the Government, Of the State and oil the
City are as valid and substantial securi-
ties as they were o month ago. The bonds
and stocks of our well.paying railways
and other corporations, have to the full the
same elements Of strength and value that
they had before the failure of the weak
and unproductive railroads. The use
iul products Of the country-of which
the country Is teemipg full-are as
Indispensable now and as valuable In the
labor and capital invested in them as they
ever were. These make the groundwork
Of the faith Of the people in each other,
us 1t existed q month ago. Why, then,
should not the people continue their faith
as TO these substantial things, and 20 on
with their affairs undisturbed and without
distrust In each other and In their sub.
stantial Institutions as they did before the
causeless aspect OF the panic began ?
Those who allow themselves 10 be iDflu.
enced by any other spirit-by running"
on the well conducted savings fund or
banks-are not only not helping them
selves, but are more than likely 10 be
making troublefor themselves. Faith In
each other among substantial business
men and among the masses Of the people
In the old established institutions which
has nerer failed them will tide all Of them
over this causeless panic. Faith, Tor.
bearance and the exercise OF that good
sense for which the masses OF the Ameri.
can people are proyerbial, should be the
only notices now. ID