Lyon County times. [volume] (Silver City, Nev.) 1874-1907, 1875-09-05
THE CRASH.

lH HI 0VA00AS SOeAAse.~@ $3.50 1890 -
and money panics the first scare has
been nearly a. disastrous to the pub
lie as the net result Of the crash.
The late bank failure in San Francis
co and the almost universal crushing
down Of the stock market is but a
fair similitude of the great financial
storms that have from time to time in
years past swept over the country.
On the first news of the disaster, q
tren,or of alarm pcnetratcs the bust
ness office of every merchant and
of the country whose COM
mercial relations extend beyond the
limits of his own counting room.
And this is not without cause, rs at
the first one cannot tell how his bust
ness correspondents are to be affected
though he may feel safe himself.
The sudden news Of the failure of
the Bank of California came upon
the people of the Pacific Coast much
as an earthquake suddenly and with
out warning rends and shakes the
earth. In fact, it was financial
earthquake, and at the first jar the
shrewdest of people could not tell
whether it was confined to a certain
limit or whether all were to be swal-
lowed up in a general ruin. Thank
Providence it was BUT jar, and
the worst is over. The sombre
clouds which hung SO threaten:ngly
over the commercial centres of the
coast are fast clearing away as the
extent of the crash is made known,
and confidence is rapidly being re-
stored. The news from all anthem
tic sources is of a most cheering
character, and such as to prevent any
further calamity to the business in
terests of the mining sections. 1t is
now generally believed that the
crippled banks will soon resume and
that dspositors will not lose a dollar
by the suspension. So far as we can
learn, there are no mines that will be
compelled to close down, although
there was a lumor on the street yes
terday that the Daney would be
obliged to postpone the time of
starting up on account of having
transacted its financial affairs with
the Bank of California. No consider
able number Of miners are, or are
likely to be, thrown out Of employ
ment by the scare, and most of the
mines will pay off as usual. In local
business circles money is reported
scarce and business of all kinds still
depressed. This is but one of the
natural results of the sudden break
ing down of the stock market, and
will be remedied with the commence
nent of active business transactions
by the Stock Board. All the loose
circulating medium in the hands of
small capitalists has been used up to
meet the demand for "more mud "
on margined stocks and the paying
up Of Indebtedness for which shares
have been pledged as collateral Sc
curity. The general feeling of dis
trust made holders shaky as to
pledged stock, and every string has
been pulled to regain possession of
the securities. This feeling is grad
ually wearing away and faith is re-
turning. With a long line Of rich
mines, the music of a thousand
stamps as, day and night, they cease
lessly trample out the shining bull
lion at the various mills, and with the
presence Of such money kings as
Mackey and Fair, Flood and O'Brien,
ID. O. Mills and Sharon, it will take
more than the failure of the Bank Of
California to permanently, or even
temporarily, upset the prosperity of
Nevada. In such q time as this
business men should be lenient to-
ward each other, and pull together
for the general good. at is darkest
before dawn" the night Of gloom
has passed and the daylight is COM
ing. Good cheer and greeting to all.
" We are slightly dis6gured but still
in the ring"
An OLD-TnaER GoNz.-By pri-
vate letter from Geo. w. Todd,
Esq. Of Virginia City, NJ. T., we