But that you may not be deceived in your judgment, I will go farther and say, that what makes a character in Wall-street, does not make one out of it. Here the standard is money, but elsewhere, it requires some other ingredients to arrive at any level much above the lowest; and a man destitute of education, intellect, genius, principle, morals and religion, (though last here, yet not least,) can hardly arrive at a condition of respectability, much beyond his own conceit of himself. MONEY, KNOWLEDGE AND HONESTY. I never knew such a man as Mr. S., who was not deficient of education in every thing, except how to get money. The sum of his knowledge is limited to the first rule of arithmetic—addition; and although his wealth and credit may enable him to enlarge the sphere of his observation, still, it is all brought to the same practical use, addition. Such a man always owes his little elevation to one of two things, to fortuitious circumstances, or to his own villainy; and his mind is incapable of appreciating any higher standard of morals than his own. As I once heard one of them say, (inadvertently no doubt, but yet in the honesty of his soul) when another was recommended to him for credit, on the ground of his honesty, he replied, “a very good thing for the owner, but a very poor commodity in the market.” SOMETHING BY WAY OF CONTRAST. It is not against the people of Wall-street, or Pearl-street, or South-street, or any particular branch of business that I would be understood to aim the bitter shaft of sarcasm, but against those individuals of known delinquency, and against those principles and practices, which have, of late, obtained a tolerance that, in times gone by, would not have been suffered. And were it proper for me to do so, by way of contrast, I would here sketch a portrait of some among the many I know, who hold a just balance, and the even tenor of their way, whether in peace or in panic; but I could not do it faithfully, without pointing too clearly at those who have no need of my commendation, and who would choose that their reputation should rest on their own unaided merits. Perhaps you have already anticipated some of the advantages which may arise from a panic, but my description would be incomplete, were I to omit to sketch a few of them. ADVANTAGES OF PANICS.