The true northerner. [volume] (Paw Paw, Mich.) 1855-1920, 1873-10-31
Cruz Aortberner.
Paw PAW, MIcuIGAN, Oct. 81, 1873

by combustible material, it soon becomes
flame. before which iron melts and granite
crumbles into dust. So with panics. Words
OF Suspicion are the sparks that lead to fnan-
cial CONGREGATIONS. Distrust IL breathed from
one to another; instead OF being quoted by
calm advice, il is fed by popular excitement
Those who have least to lose are the loudest
in their croallngs over coming failures. A rusl
ls made to sacrifice stock that is both profitable
and safe; 1T is thrown upon the market along
with fancy and worthless stock. sense OF in
security seiyes the buyer ard the result H., no
salee. or ruinous sacrifices Of stock that only
needed the restoration OF confidence to be
worth more than ever. When fire breaks
out. efforts are made TO contne it within Its
original limits But the breaking out CT dis
trust IN community is the signal, not for unit
ed efforts TO confne il within its legitimate
bounds, or It's suppression, but for genera
rush to feed the flame by gosslp, ill-omeneo
prophecy or groundless rumors OF some IN
deinabe calamity. a rumor starts, affecting
the financial standing OF some bank Official
Ii matters little whether it be true or raise I;
the whisper is soon transformed into storm
A sudden run is made upon the bank; then up
on other banks, until the whole community Is
III a ferment OF excitement II the banks nave
facilities for prompt conversion or securities
snto cash, the storm may blow over; but II dis
trust is widespread, money s locked up or held
for sclt-protection, and banks that are perfectly
sound ere driven by sheer necessity to suspend
paymeut NO reasonable man can expect
banker to pay interest on deposits and keep
those deposits locked in his safe, ready to be
returned without q moments notice; yet men
who claim to be reasonable act at times as II
they thought this 10 be the case. Banks pay
interest upon money, because they can loan
the money received for higher rate OF IN
terest than they pay. They take securities for
money loaned. To convert these into money
requires time; and those having deposits
should be considerate enough to grant 1t. The
best bank in the country may be forced to sus-
pend payment IN the face of an unexpected
and unreasonable demand, especially II popular
excitement has go unsettled values as to rem
der the conversion OF securities into cash al
most impossible. Pancs should be stopped at
the moment of their inception. Men OF ability
and Judgment should unite 10 quiet popular
distrust Confidence should be strengthened
by every legitimate means Deposltors, unless
they have good reasons for demanding pay
ment. should assist rather than cripple the
bank whose credit and standing hey depend
upon. Exceptional cases OF failure may occur
at any time, but panic, such as recently swept
over the financial centres OF the country,
ought TO be an impossibillty.
~ some sections of the country a bottle OF
whiskey is Familiarity known as "a key OF
nails and to announce 10 crowd or old soak
ers that new keg was TO be opeied, would
cali out whistle OF general approval. Our
temperance advocates might fail to see the
connection between 4 spike and drink, but
your old topper knows, IA IL by ms met that
they both mean the same thing.
The friends Of the lost cause" have recently
held grand war council The big guns OF the
defunct Confederacy were out in force. jeff.
Davis was there, and from the tone OF his
speech the old gentleman seemed 10 be under
the impression that TIE first shot had just been
made up it's mind to smash things generally.
There was Semmes, who sailed the piratlcal
Alabama, and the valiant Beaure5ard, who fig
med 80 largely in what Greeley called 1.-THE
late controversy" and scores OF generals and
colonels. and majors and captains, with few
chaplains mixed through he crowd to 81 % it a
religious tone. in fact, j was az near a rebel
1aI
the meeting Of the Southern Historic. So
ciety" We doubt if the world ever Jaw such a
gathering of military historians as came to-
gether at the White sulphur Springs, Virginia.
Jubal Early appears 20 be the historlan-iD-
chief. and as he bears the Endorsement Of JEFF.
Davis, we take it for granted that he is to give
tone and direction to the grand historical effort
that is TO place the late Confederacy I'm tue
proper light before mankind" We are glad
that we know the name Of this society, for
from Its published proceedings we should
never suspect that it had the remotest Connec-
zion with history. II military men are to write
true history Of the war; we suggest the name
of Phil. Sheridan to help Early on some OF the
doubtful points. As sheridan. helped Jubal
out OF the Valley during tho wax, he might
help HIM out of some serious bIunders in this
matter of history. II this historical society
can engage Sheridan to assist Early in writing
''the true history OF the war, we shall regard
the work as being IN competent hands.
We belive in history, think the study good
one, and would do ali things reasonable to en-
courage the formation OF historical societies
everywhere but we lack enthusiasm over this
Southern affair. Ii looks to us moro like an
effort TO make new material FOR future history
than an effort g collect the facts and incidents
for correct version OF the past. rs that arch
historian, jeff. Davis, expresses the belief that
he rising generation viii redeem what the
South lost in the great struggle, and his fellow
historians applauded the sentiment to tho
echo. it will not be safe to dismantle our forts
or cell our muskets for old IRON. We don't
advise rifle practice as one OF the necessities OF
the age, but to keep Il O old piece in order, and
be able to pick a squirrels head at a hundred
yards. are no mean accomplishments, and may
at some future day stop an organized move
n, ut Of these Southern historians little fur
ther north than the White Sulphur Springs.
While we drink IN the truths of history, we
must not neglect TIE manual of arms.