New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-09-29
JOHN PAUL ON THE PANIC.
HOW AND WHY TT CAME ABOUT.

THE CRISIS THE RESULT or MIR. PAULS ABSENCE
FROM TIIE CITY-THE NECESSITY or GETTING
OUT OF wALL-sT. AT THE RIGHT TIME-A PARAL-
LEI DRAWN FROM CHILDHOOD RECOLLECTIoNs-
now JOHN TIE BAPTIST" KICKED-CoNDITIoN
OF THE CURRENCY ABsTRACTLY COSsIDERED-A
PLEA FOR INITIATION.
[PRoM AN OCCASIONAL CORRESPONDENT OF THE TRIBUNEl
WILLIAMsBURGH, Mass, Sept 22.-Never again viii
I leave Newly York for any period Of time however
brief something is to happen if I'm not there
After finishing Saratoga il was clearly my duty to
return TO the city, but, yielding against my better
judgment to tho persuasion of friends, prolonged
my absence for a visit to Williamsbmgh, and a ter
rible panic is the result
When say that have seen this panic coming for
three years past simply put the robes of proph-
ecy which every one is reaching for now that the
event has arrived That am not attiring myself in
the popular sackcloth as well. is simply because |
have been wearing mourning for some time back
All the Summer through have not cOnyersed with
any eminent fnancier'-another and longer way
of spelling speculatOr-who did not see panic cloud
looming darkly in the distance and did not declare
an intention of not being caught out in the ram.
But where are the umbrellas at the present wrtngf
At no time suppose. has even the most sanguine
operator for continued rise in securities, believed
that the thousands who were buying. bought for
permanent investment. Each knew that his neigh
Dor as well as himself bought simply to sell to some
one else at an advanced price, and each intended iii
his own mind to be little smarter than the other
and get out first. Not man was there among all
the busy buyers and sellers who did not fully under
stand that the last purchaser would come to grief,
but the idea of being that unfortunate last man."
venture to say did not occur 10 one individual
mind
Impressed with a vague notion that if the many
arrived at the conclusion that it best to be get
ting out at about the same time, there might be a
rush for it, and being besides little lame thought
I'd start first. SO here am How it got out that
deemed il wiser to unload at loss cannot imagine
but you see the resut-a widespread sacrifice of
securities, a disastrous panic. Sooner than have
had this happen however, I'd have consented to stay
in and be ruined-for a consideration
Looking back at it now, don't know that I'd have
got out if hadn't had to get Men addicted 80 the
street are much like those who become habituated
to loafng late in bar-rOOms-they don't go till they're
kicked out. My health failed me; the doctors pre-
scribed quiet and rest so / went to Saratoga.
Well. as was saying, we all knew this storm was
coming. But have yet to see the man who thought
it was coming just yet took i'll his lower sails II
he did his tOpsails. When it came or showed itself
near at hand would be time enough to be lodging,
they thought. And my father once had horse IN
his stables a fine. spirited creature, which was
fond of foong around. The old gentleman warned
me that he might kick, but didn't thank him for
that; of course he might kick-any horse might,
| for that matter But | hadn't been round the
stables when supposed to be at school for nothing
had noticed that when a horse kicked he laid his
ears back SO waltzed around " John the Baptist
that was the noble animals name though why
1 cofL go1fl ftr 70 liply a
path through a wilderness | do not know-just as
| usual and relied on a religious observation OF his
ears for safety At the least dropping of that barome
ter stood ready to jump. One day. having business
about his manger--business not wholly uncOnnected
with q hens nest-I approached by what may be
designated as a flank movement, and requested him
TO stand over on the other side of the stall, as
wished TO come in. That there might be no mistake
about my meaning made it quite clear by pricking
| the flank most in my way gently with pltchfork.
But | was Careful to watch his very carefully
| while making the request. Now, if you'll believe
me, l didn't see his drop, gelther did /
! see his foot rise. But L did hear boy
about my size strike against the other side
of the barn with bang And after an hour or two,
| when had collected my scattered thoughts and
picked up the jewsharps, and ack-lnives and green
apples and stolen watermelons that the industrious
animal had kicked out Of me, and climbed up in the
hay-oft for the double purpose Of picking up the top
| of my head-whch, according to all evidence OF the
senses must have landed there-and getting better
| view of what was going on down below, remarked
that that horses ears were laid down on his back as
flat as though talOr's goose had lit on them. But
the warning did me very little good then. And
| when | went into the house and the old
gentleman said that he told me so, and that
| Z.
the horse had kicked me into the middle of next
week. / found no relief for my bursting bosom till
had emptied the red pepper cruet into the manger
of John the Baptist"-turning his clover hay into
the very widest kind of honey-and set him sneez-
ing till those COMPOUNDED ears of his stood up so
stiff and straight that they raked forward like a
| iack-rabbit's. And L made up my mind then and
there never again to let my liking for brisk bust
| ness bring me round anything the further end of
which one has 10 watch to see what the nearer end
is going to do especially when that
nearer one
Still, and a rearer
Yet than the other,
| has way of lifting so quick and easy.
1t is sound business Judgment to avoid the vicin-
| ty of any animal whose skin is so short that he
can't drop his ears without raising his heels, the
more so if he happens to be so particularly lively
| that he can go through both motions at once.
Further than this l don't know that there's any
special point to my story. But a good deal
hurt at the time, and my ever since has borne
considerable resemblance to badly turned pam
cake. 1t has been some satisfaction to feel that 1
am more familiar with the habits of the horse than
was before the accident happened, and if any one
fishes deeper moral out of my story it will further
crafty me to know that my nose was not fattened
in vain.
think that it is necessary to look very far. If you
have ever had hold of young and growing dog, you