A Week in Wall Street: By One Who KnowsJackson, Frederick
General
A Week in Wall Street: By One Who Knows
Jackson, Frederick
Wall Street (New York, N.Y.)
Don’t you think there is some bad disease about? says a third, and
before long, the interrogatory assumes the shape of a declaration, and
if not explained, and in less than a week, half the people of the town
are sick, through fear that they may be worse.
What is Mrs. Toddle running about the street for? says one.
I expect she has gone to enquire about the school mistress. Says
another.
I expect the school mistress will run away with that fellow yet, says
a third, (she ran away once herself.) And before the week is out, the
whole neighborhood is in a panic, for fear the school mistress should
run away, and their dear daughters be corrupted, by her example—while
the innocent subject of their fears is attending to her duties, all
unconscious of the commotion she has occasioned.
PANICS AND PANIC MAKERS.
In great commercial cities, a panic is a different thing, and first
indicates its approach in a different way. The subjects to which it
generally points, are politics, and money, chiefly the latter, and
never the first, except as it may have a bearing on the last. Like
great and pestilent diseases, it generally has premonitory symptoms,
which commonly exhibit themselves in plethora, and a wasteful
indulgence in luxury. And like those diseases also, it never attacks
or alarms those of regular habits, and an equal mode of living. In the
city there are regular panic makers! some of them work on their own
account, as Donald said he fought, when it was found that he had killed
more of his own clan, than of their enemies—and some of them work for
hire, as the penny-a-liners do, in fabricating marvellous stories; and
hence the opportunity and inducement for making panics in the city, far
exceed those in the country.
Political panics, and money panics, are like electric bodies, one is
positively charged, the other negatively, and the effect of this kind
is, that when they approach each other, they produce an explosion, like
the breaking of the Banks, &c. These are properly termed compound. A
simple panic is more harmless, and like the Simoon, if a man can stand
still, and hold his breath, it will pass by without harming him.
There is also another kind, called natural panics. These are such
as sometimes happen in churches, theatres, &c.—and, although they
have nothing to do with the subject about which I am writing, yet a
description of one of them may aptly illustrate the reasonableness of
the others.
NATURAL PANICS—A RUSH.
Public-domain text, read in full here on John Shaqi.
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