Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1873-10-16
THE UPSHOT OF THE PANIC.

The week ended cheerfully on Saturday,
and with a wondrous Frightening up compar.
ed with the prospect on the previous Saturday.
There were many, while pretending confidence,
waiting in fear and trembling for The Tuesday
when the Stock Exchange should open. Many
croakers predicted general desolation and
widespread ruin. Tuesday came, the Stock
Exchange did open, and more quiet day
there it would have been hard to find. The
scare was over, that was evident and conf
dence-that most important feature Of 6nan-
cial operations if not wholly, at least
partly, returned Stocks went up to figure
which proved that while many fictitious val
ues could no longer continue to reign, there
was solid foundation to our values which
no panic would lastingly do away with. 1t is
probably true that there will continue to be
permanent shrinkage in all values, but this
will bear its fruits, a reduction Of prices in
every department, and the country will be
Just as healthy if less nominally rich. And,
on the other hand, good fnanciers say the
country and the market has been rid, by the
panic, of terrible load of worthless specula-
tive shinplasters, which have tumbled to rise
no more Again, gold has gone down, while
greenbacks are still at premium. That these
last will soon be as plentiful as ever with the
regularizing of things, there can be no doubt.
The week has witnessed few failures, Gan ex-
traordinarily small number, when we think OF
the fix in which so many houses were short
time since,) while some assumptions have oc-
Cured All this shows that this morning
when the market opens and the first blow for
the week is struck, there will be general
good feeling, which will make the panic seem
a hileous nightmare which vanished as quick.
ly as it came.
TIE PRODUCE EXCHANGE.
The same improvement which characterized
the financial mart has in an equal, if not
greater degree, made things livel ely at the Pro-
duce Exchange. Operations have been brisk
at good prices during the week, and shown a
constant improvement. 1t is not safe, mer-
chants think, to be confident at present that
all the trouble consequent upon the panic is
over, but it was to be hoped that it is. Men
do not act as if they feared any future embar-
rassments They attribute the good feeling
which exists, not so much to the Improvement
in Wall street as to the fact that the real
prosperity of the country is such that the
Stock Exchange cannot permanently affect it,
and in this view all outside parties will agree.
1t is true that at the Cotton Exchange the
week has been a sadly inactive one, and that
the cotton men are bewailing their "hard"
luck. But this is in reality an unreasonable
view to take, for at this season of the year
some depression must always take place. The
panic coming at the time certainly accelerated
it, but is it not better to have done with two
causes of depression at once, and then start
afresh, without further fear? The scarcity of
greenbacks is affecting the cotton men as much
as anything, but with the resumption of green
back payments it may be hoped there will be
a Jump for the better. IN Y. Bulletin.
A PANIC-STRICKEN DEPosIToR.-A New
York correspondent of the Toledo Blade had a
narrow escap pc. He was, so to speak, "n the
panic" 1t came within a hairs breadth of
getting into him. He says: / had a terrible
Experience. Awaking Friday morning rath-
er later than usual, l took the morning pa
per before I dressed. The list of failures of
banks affrighted me. Dressing hastily, 1
rushed frantically to the street, and throwing
myself into cab directed the driver to drive
furiously, like the driver of Jehu the son of
Nimshi, to my Office. Suppose my banker
should fail How blamed myself for sit
ting up the night before till II, instead of re.
tiring at 10, as is my custom! "Drive," l
exclaimed. The driver drove. Minutes were
dollars to me- TO get the money out was now
the point. The office reached, | hurriedly
directed the book-keeper to figure up the ac-
count and draw a check for the entire amount
81 will sight it," he said, "and then you 60
Immediately, ,as fast as your attenuated legs will
carry you, and draw it. Get it in large bills
l will carry it on my person. / dislike to do
it, but selfpreservation is the first law. Make
haste"
How slow he seemed! How / chafed un-