The Columbian. [volume] (Bloomsburg, Pa.) 1866-1910, 1893-07-28
Sensationalism and Cowardice.

Ihe two chief evils which affiict our
business interests are sensationalism
and cowardice. Eliminate the sensa-
tional features from bank and business
failures and give the precise truth, and
eliminate the cowardice that makes
tens of thousands each a panic in him
self, and there would be a speedy re-
action in substantial values.
Some of the newspapers yesterday
announced under the most conspicu-
Gus and panic-inspiring headlines. that
half dozen banks had closed in Kan
sas and that several had suspended in
Colorado. OF course, there can be
no stability in financial operations in
either Kansas or Colorado and no
safety to any banking institution, but
they bear no relation whatever to the
great business interests of the country.
Kansas has a wildly agrarian Cover
nor, Legislature and State officers.
Contracts payable in gold are illegal
and communlstic revolution is in the
air inspired by crazed Populist ad-
ministration. Who can aid a Kansas
bank or send money to that State un-
der any circumstances short OF imper-
ious necessity The same logic cuts
Colorado off from financial support. 1t
was her revolutionary 81 yer conyen-
tion and the blatant demagoguery of
her Governor that made the Colorado
banks suspend.
Several important banking houses
and banks have been forced to sus-
pension by the present stringency, but
in the case of every legitimate bank
ing institution, it was not insolvency
but the inability to realize for cash
that forced the closing of doors to pro-
tect assets and creditors. The other
bank failures, as rule, were only the
inevitable collapse of institutions with
out capital or integrity. Yet these
failures, which do not affect legitimate
banks or legitimate business or legti-
mate values in any way, are heralded
in the most sensational manner by
many public journals, and every posi-
BILE aid thus given to gamblers whose
profession is to cheat honest investors
by the depression Of values.
Sensationalsm would be harmless
beyond the contempt it invites upon
its authors, but for the cowardice that
shrivels up common sense with many
who have money. The best Of divi.
dend paying stocks are now purchase.
BILE at the lowest rates for years but
the cowardice that is cherished by
| thousands makes them hoard their
money. They draw it out of banks
and lock it up in boxes. They know
that the banks are safe, out others are
afflicted with cowardice and lock up
their money, and they do it without
reasoning on the subject. By and by,
when the securities they could
buy today at the lowest prices shall
have advanced twenty, thirty or forty
per cent, they will rush in and make
investments and when the banks and
the business public will have no need
for their surplus money, they will un-
lock their boxes and deposit it again
Cowardice is the root of all our
financial troubles to day There is no
reason for distrust and least of all for
panic. The shipment Of gold has
ceased our exports Of breadstuffs has
been the largest within the last six
weeks of any like period in the past /;
there is abundance of money in the
country for all legitimate wants the
people of all business channels, out
side Of the petty silver States, are
more solidly solvent than at any time
in the last decade, and Cowardlce
alone halts the return to honest values
and general prosperity. Let sensa-
tionalism and cowardice be sent to the
rear let us trust our country, our
government and ourselves, and pros.
perity will be speedily restored.-
| Times.