National Republican., 1883-08-29
THE MAN ON THE AVENUE.
small TalL About NIen nna nressure.

IF timid people, who are contemplating
a withdrawal Of their money from banks and
business and its burial in stockings and iron
kettles, would devote o little spare time to an
intelligent consideration Of the situation they
would see that the country is not In the
slightest danger from panic" Thus quoth
tho banker, as he chewed viciously at the end
Of his pencil, and then he added "Panics are
caused by an unnatural and unhealthy expan-
sion of prices resulting from a widespread
speculative craze. If we have boon in
danger of panic, that danger 10 now
past. The entire range Of prices for
stocks securities, real estate, and produce OF
all sorts is about where 1t was in 1879 and
1880, when tho boom that has been COM
planned Of set in. There has been steady
decline from fancy prices at which stocks
were held for six months or longer, and quo
tations cannot get much lower. Wabash has
dropped from 65 to 1s, Northern Pacific pre-.
ferred from 100 to II, Denver and Rio Grand
from ia to "a, New York Central from155 to
114 Lake Shore from 1856 to 100 Texas from rs
to 20, Central Pacific from 103to 65. X. T. from
55 to "a, Erie from 55 to 30, Omaha from go
to 80, Northwestern from $50 to 121, Ontario
and Western from d6 to 20, Union Pacific
from 100 to SO, Michigan Central from 1913 to
81, Louisville and Nashville from ia to AZ,
and so on through the list. Financial explo-
sions occur when the balloon is too full of gas,
and not when the gas is all out of the bag.
"What is true of stocks Is true with regard
to all branches of merchandising. Inflated
concerns have been going under, but the
hna ~ hn Ia V
effected thereby. Bed rock or nearly so ap-
pears to have been reached. Money was
worth from to 12per cent. whom the country
went into bankruptcy eleven or twelve years
ago, and IL was hard to get Now money
goes begging at per cent"
Sc
Jim Keene is said to have made $4 10000
or $5,000,o00 on the latest tumble in stocks,
continued the hnancier. HE beared the
market all through the rise and stuck to that
line of play. He was understood to have
been nearly at the end Of his rope when the
turn in the tide put him on his feet again,
Louis Bell, Charles Johns, Slayback, and
Kirkner have all made big money. Keene
was short the whole market, but particularly
in Louisville and Nashville, Northern Pa.
ci6c, Texas, and Wabash. He is pretty
nearly even on previous losses"
e~s
A story Is TOLD Of Henry Smith and George
Dickerson, we'll known Wall street characters
which might bear repeating. Smith is one oi
the big men Of the street, and is rated at $5,-
100000 He is regarded as one Of the hest
and shrewdest operators, although he was on
IL klo I1kN .n,,1l a
from under the market. Dickerson is an &c.
tive, impetuous broker, who is never without
slap dash opinion on one side or the other
and what is his is his friends. He is free
lively spirit, and is worth probably $150,00C
or 100000. The other day he telegraphed
Smith, so tho story runs, that he had reason
to believe that certain stock was going
down, the telegram closing with, "If were
you / would SELL"
"If 1 were you," retorted Smith, az should
probably have your bank account or less"
&"4
"I have been again informed" said the
tall. gaunt man, that expeditions will start
from New York and Washington to visit
Mount Ararat and dig out the ark recently
discovered embedded in glacier. Col
Jacob j. Noah has been asked to command
the Washington party, and Maj. Hamm, O
the army, the New York expedition"
3*x
Since 1851 unknown persons have paid
$1s6, 45901 into the United States treasury tc
quiet their conscienoes. The largest revenu,
from this source in any one year was in 1868
when the contribution to the conscience funt
amounted to $29,155.11. In 1873 $23, 1902 7,
was added to the fund; in 1867, $12,952.59
in 1869, $17, ,403.21, and in 1873, $12,01133
Last year the contributions reached only
$7,ssS, ,149, and this year the total will proba'
bly, be less than that unless somebody GOMEZ
to the front with big sum.
''rhese contributions" said n treasury Off
cial, "came in every possible way, aud tn,
men who take this means Of paying bach
money stolen from the government, and o
making peace with their consciencos, are al
most invariably at great pains to conceal theil
identity. Some express currency or send il
through the mails by registered letters, flcti
tious names being employed. Others send 4
through their priests or pastors but occasionall,
man writes full particulars of how he cam,
to be indebted to the government. The treas
ury officials regard their relation with contrib
utors to the conscience fund as confidential
and there has never been an instance to my
knowledge where any attempt has been mad,
to pull aside tho veil these parties have souglA
to screen themselves behind. Priests have
made more donations than all others com
bined, but the amounts that reach us this way
are usually small. have no doubt tha
| in a great majority Of cases parties WHIT
| figure in these transactions arc moved by
a keen sense of right to make restitution oi
money wrongfully obtained from the govern
rment. They get religion, take sick, and ar,
threatened with death or get rich enough t,
feel that they would like to square account
all around. On the other hand some met
are driven to the step by O haunting fea
that they may be found out, and tha
sooner or later they will be exposed. They
enjoyed no rest until they had paid the money
they knew to be due the government, ant
which they felt others must sooner or late
know as we'll. One case / know of was al
army officer in whose accounts mistakes had
been made which made him gamer sew
eral hundred dollars. He was afrai,
that those accounts might be gone owe
again some time, and that it woult
appear that he had swindlod the government
The transaction occurred ten or twelve year
ago, and perhaps longer; the man had sinc'
engaged in business and amassed q fortune
but the wrong committed irritated him, ant