The post. [volume] (Middleburg, Snyder County, Pa.) 1864-1883, 1873-10-30

PANIcs.-Panics, like extensive con-
Hagrations, have small beginnings.
A spark has within it the power to
lay in ashes the largest city. II fed
by combustible material, it soon
becomes q fame, before which iron
melts and granite cr,mbles into dust.
SO with panics. Words OF suspi-
cion are the sparks that lead to finan-
cial conAagrations. Distrust il
breathed from one to another ; in
stead of being quieted by calm I'D
vice, it is fed by popular excitement.
Those who have least to lose are the
loudest in their croalings over COM
ing failures. A rush is made to sac
rifce stock that is both profitable
and safe; it is thrown upon the mar
ket along with fancy and worthless
, stock. A sense of insecurity seizes
. the buyer, and the result is, no sales
or ruinous sacrifices of stock that
only needed the restoration of con-
7 fidence TO be worth more than ever
When fire breaks out, efforts are
= made to coniine it within its original
limits. But the breaking out of dis
trust in community is the signal,
, not for united efforts to confine it
within its legitimate bounds, or it's
suppression, but for general rush
; to feed the flame by gossip, ill.omen-
ed prophecy, or groundless rumors
!. of some indefnable calamity A ru-
NOR starts, effecting the financial
standing of some bank official. 1t
matters little whether it be true or
s false the whisper is soon transform,
ed into storm, A sudden run is
d made upon the bank then upon 9th
|. er banks, until the whole community
is in ferment of excitement. Il
the banks have facilities for promp,
Q, conversion of securities into cash
the storm may blow over; but i
!. distrust is widespread, money il
locked up or held for self-proteetion
\ and banks that are perfectly sount
are driven by sheer necessity to sus
h, pend payment. No reasonable ma,
el can expect a banker to pay interes
T.; on deposits and keep those deposit
A. locked in his safe, ready to bo return
&; ed without moments notice ye
d men who claim to be reasonable &C
h at times as if they thought this to b
r. the case. Banks pay interest upo
j. money, because they can loan til
j. money received for higher rate {
n, interes. than what they pay. The
take securities for money loaned. T
d convert these into money require
5. time; and those having deposit
should be considerate enough t
= grant it. The best bank in the coun
r. try may be forced to suspend pay
ment in tho face of an unexpecte
S. and unreasonable demand, especial
if popular excitement has 30 unse
tied values as TO render the oonve
III sion of securities into cash almol
impossible. Panics should be stol
ped at the moment of their inception
Men of ability and Judgment shoul
unite to quiet popular distrus
n Confidence should be strengthene
W by every legitimate means Depos
n tors, unless they have good reason
49, for demanding payment, should a
n sist, rather than cripple, the ban
~ whose credit and standing they d
w. pend upon Exceptional cases
failure may occur at anytime, but
panic, such as recently swept ov'
co the financial centres OF the c0untr
es. ought to be an impossibility. "
:; trust that the press Of the land vi
:: exert its powerful influence towar!
9" maintaining q healthy state Of publ
Icenfidence. eb ~ t Nail' al