The Morning herald., 1875-09-01
THE HERALD.
WILMINGTON, SEPTEMBER l, 1875.
WHAT WILL THE RESULT BET

WHAT WILL THE RESULT BE
Bank suspensions and heavy financial
failures not only affect the houses which
form the centres of the failure, but with
disaster to them comes the crash to Other
houses which operate with them. Therefore
it is not until days and weeks have elapsed
that we hear of failures which are attributed
to the financial ruin Of larger houses. Al
ready the news has begun circulation Of
crash upon crash in business affairs and the
commercial world is Jared from end to
end. This leads reader to ask what will
be the result Of the suspension Of the Bank
Of California, and the failure of the large
house of Stirling, Ahrens & Co., in Balti-
more. 1t twould be impossible at the pres
ent time to give an idea of what the effect
will be, as these matters do not begin to
show themselves sometimes until weeks
afterward, and then they come with sud
denness that makes the.alarm all the more
terrifying. From New York the first NUT
terings of the storm has been heard. Wall
street has been vast bear garden, in which
the actors rushed frantically about, seeking
the improvement of their stocks, oeendeav-
oring to save themselves from considerable
loss. The prince Of brokers and stock
spectators, Jay Gould, loaned his presence
to the excited crowd, and for awhile con-
fusion ran high. The telegraphic dispatches
stated that this was attributable to no di-
rect cause. But Wall street is easily moved,
and, Notwithstanding the distance between
the place and California, the bank suspen-
sion in the latter place is beyond doubt the
cause Of the sudden excitement in NewYork
City. This agitation Is but the first, and
we may expect to hear OF more serious dis
t,lrbances in the financial circles than even
this.
The West is the section that must suffer |
from the failure, and very severely. Fail
ure is consequent upon such calamities as
that which has ju-t visited the Golden
State. They1esult as much through a loss
of confidence as they do from any serious
losses Of finance. Credit is Of very little
standing among business 'men, when such
calanrlies transpire around them, and
what are considered as the most solid
houses have to pave their own way through
without aid from others. If they cannot
do this then comes the crash, and with it
the crash of other horses. That such dis
asters will be visited upon the West in
very large numbers, we cannot say, but
chat t must suffer is inevitable. Previous
10 the recent suspension in San Francisco,
hat portion Of the country had escaped {
he reverses of failure in commercial cir 5
les to great extent, and the East had to !
,ear them. But, now that it has COM X
nenced, the West must accept Its share. :
In San Francisco itself it will will not n
re felt in its worst form for several b
weeks to come. The other banks have h
cen affected, and many Of them are in f'
greatly crippled condition. The results II
ill be that confidence will not be restored II
mong the merchants AMI the tinanciers III II
ntil quiet has been again enforced by time. !,
may be corrected b. a sid len revival of II
lsiness, and this is the only thing which
e can see a. the press1: time that would .,
. likely to Accomplish it. Il is thought ., =,
: some that it may have Il tendency upon -
e elections in OHIO to make The people "'
It there sI,e savesof an inf ,,ion doctrine "a =,
will hardly have this e!i.c., ior if they ~ u,
ave los, faith il cold. shey will certainly u,
1t become the advocate. o intuition. We VI
uk Cor is disastrous c:..'-c.- u>%here but ~
rec,lv in the commercial circles where it So
IA" be t,!t until late in the fail! III