Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1873-09-25
TIE RUTLAND HERALD.
THE PRESIDENT AND THE
PANIC,


When President Grant came TO New
York last week, at the earnest call of
New York financiers, it was not the first
time lie had entered into counsel with
men wild with excitement and fear. 1t
is related of Gen. Grant, when he start
ed on his last grand and bloody march
from the Rapidan to Richmond, that
after one of his most sanguinary days in
that eyentful period, where the Union
army had been repulsed at every point,
and the biyouac of the Army Of the
Potomac was shrouded in gloom, and
every officer and man felt singing con-
seriousness of defeat a council OF corps
commanders was held to consider the
situation; that silently and with dcspond-
emit looks the brave officers whose names
are synonymes of courage and bravery,
gathered about their chief and each in
his turn, gave his earnest and Inundated
version Of the battle Of the day, and
each advised an immediate retreat as the
only possible safety. The great general
made no response except to hand to each
ms he retired written order to advance
upon designated route in the early
hours Of the morning, and that under
the silent direction of those written Or
ders that army was not only saved, but
started on its great flank movement that
eventually brought it to victory at APP
pomatox Court House.
The same power to control his own
fears and nervousness amid the des-
pondency and almost panic that follow
ed the Wilderness, Spottsylvania, and
Cold Harbor disasters, enabled him,
unaided and alone, to exercise the cool
Judgment that saved an army and ma
ton, did the President good service
when besieged by the frantic men who
swarmed about him from Wall street
last week Amidst the panic and excite
ment of that occasion, he stood the on
ly calm spectator, showing no more emo
tons than when amidst the lcaden hail
before the besieged fortresses, he made
his terms of unconditional surrender, and
announced his intention to move imme-
diately upon the works. And his decis-
ion was as correct and exhibited the
same foresight, when he said to the
Secretary of the Treasury, ''You can
buy some bonds, but the Treasury re-
serves must not be touched" that char
acterized him at the head of the army
The New York Herald has even halt
ed in its daily cry of C9sarism for a day
to say, "We cannot too much praise the
course of President Grant, for it has
probably saved the country from a great
financial crash. We have praise both for
what the President has done and for
what he refused to do. In refusing to
be swept away by the panic, and in re-
fusing to be persuaded into using the
Treasury reserve so as to risk the bank
ruptcy of the country, Gneral Grant
showed a GOODNESS and pluck not unwor-
thy Of his military fame, and proved
himself a great statesman as well as a
great soldier. Whatever tie result of
the crisis his rare courage has given him
a new claim upon the affections of the
country" We trust the panic is over,
although there, may be farther suspen-
sions, yet the commercial and business
interests of the country stand firm, and
the inconvenience of a deranged stock
market will receive so little sympathy
from the merchants and manufacturers,
that it will be felt only few days at
the longest and make no ripple upon the
steady growth of American prosperity,
and this result we owe in great part to
the craftsmanship aud GOODNESS of Presi-
dent Grant. 1t is undoubtedly true that
the President never stood higher in pop
ular esteem than to-day, and we doubt
not that the more fully his judgment
and GOODNESS are understood, the better
he will be appreciated.