The White Pine news. [volume] (Ely, Nev.) 1906-1910, 1907-11-02
ND ADVICE.

Below is printed an editorial from
the Brooklyn Eagle which is appica-
BILE in its excellent sense and sound
logic to every locality and which can
not be too widely nor too carefully
read Under the caption, ITO whom
it may concern" the Eagle says:
The fever of fright is running its
course Millions upon millions have
been withdrawn from places of abso
lutte safety, to run all the risks of i'm
mediate possession. This in face of
the fact that, left where it was, not a
dollar of the money would have been
in real jeopardy.
For depositors who have not added
themselves to the list of deserters,
who have not become victims of
hysteria, part of the foregoing state
Htlll llOIuS SDDu W mere IL 10, DOt
dollar will be in any jeopardy
Withdrawal is the result of alarm.
1t is the effect of the fear of what? OF
possible loss And of such loss there
is not the remotest possibility. Rea-
son does not figure in the reck onng
1t is dismissed from the calculation
altogether
In the interval which will elapse
before banking hours begin again
depositors will have time to think it
over. To those who are, more need
not be said than that the worst has
gone. Confidence is coming into its
own again.
1t is different with those who have
ceased to be depositors. Not too
harsh term is used when they are
called deserters. They have enlisted
of disaster. They have
mustered themselves into the service
of calamity.
Obviously, they are no better off.
Custody of money has been trans
ferred, but not from bad to good.
Transfer has been from security to
all sorts of possible, if not probable,
issitudes-there be land rats and
water rats and second story men.
For a long, line of depositors there
is a justification which cannot be as
sailed. 1t should be formed early
Monday morning. Every institution
abandoned should be in a state of
siege until closing time on Monday
afternoon.
This is virtually what will happen
when the fever has subsidized. Shame
faced depositors will line up to renew
their allegiance, to once more avail
themselves of the facilities, for their
Indebtedness to which they have
shown such poor appreciation.
The worst is not yet to come. 1t
has passed. 1t went into history two
days ago, when dramatic accessories
were not wanting. 1t would be in
vidious to say that the man of the
hour was there, though none will pic
ture John Pierpont Morgan as other
than an impressive figure, as ideally
equipped for the emergency.
1t found him not wanting in cour-
age, in knowledge, in resource, but
there also was the secretary of the
treasury of the United States. Not
all the credit due to him will be
awarded because not all he did will
ever be known to other than the few
who bore the brunt of battle.
w ndI bllOulu ne Satld VI nm thot
while there was wavering where fort
itude should have been displayed he
stood firm enough to file an ultimat-
um. 1t was obeyed. But for his
firmness, doors kept open would have
been closed, to which extent he saved
the day.
The places of these two-Morgan
and Cortelyou-in the history of the
storm will correspond. And they had
worthy associates, less conspicuous
but not less stanch and true. These
are the men who stemmed the tide,