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Updated: June 20, 2025
In the day-time we often conversed upon these shadowy illusions; and Kant, with his usual spirit of stoical contempt for nervous weakness of every sort, laughed at them; and, to fortify his own resolution to contend against them, he wrote down in his memorandum-book, 'There must be no yielding to panics of darkness. At my suggestion, however, he now burned a light in his chamber, so placed as that the rays might be shaded from his face.
'Tis surprising to see how rapidly a panic will sometimes run through a country. All nations and ages have been subject to them. Would that heaven might inspire some Jersey maid to spirit up her countrymen, and save her fair fellow sufferers from ravage and ravishment! Yet panics, in some cases, have their uses; they produce as much good as hurt.
I no longer shiver when I hear a footstep on the staircase." Jacques smiled languidly. "Only when you hear it on the portico at Shadynook or elsewhere," he said. "No more of that, Hal, an thou lovest me," said Sir Asinus cheerfully. "The greatest men are subject to these sudden panics, and I am no exception. Ah! what news?" Jacques sat down sighing.
In commercial panics, and in times of general distress, the people as a mass did not so much as even think of turning to these banks. A few individuals might do so, some from habit and early training, some from hope of gain, but few from a genuine belief that the money was good; the masses turned instinctively to the other currency.
Being subject to "call," it can not be loaned, only in part at best, to the merchant or manufacturer for a fixed term. Hence, no matter how much currency there might be in the country, it would be absorbed, prices keeping pace with the volume, and panics, stringency, and disasters would ever be recurring with the autumn.
I heard a good deal about panics I was now to see one with my own eyes. Whilst I was looking for my horse to get him up-saddled a few of the burghers were making some sort of a stand against the enemy. But all those who had already up-saddled were riding away at break-neck speed. Many even were leaving their saddles behind and galloping off bare-back. As I up-saddled my horse I called out to them:
However, owing to the dispute, nothing had been settled as to when they should start; and night coming on, the Macedonians and the barbarian crowd took fright in a moment in one of those mysterious panics to which great armies are liable; and persuaded that an army many times more numerous than that which had really arrived was advancing and all but upon them, suddenly broke and fled in the direction of home, and thus compelled Perdiccas, who at first did not perceive what had occurred, to depart without seeing Brasidas, the two armies being encamped at a considerable distance from each other.
He took a few months' leave, which he spent quietly at Southampton with his father and mother, shunning all publicity. On the expiration of his leave he was sent to Gravesend, to superintend the building of some forts for the protection of the Thames. During one of our periodical panics as to the safety of the country, large sums of money were voted for defensive purposes.
This walk of his seemingly took longer than all her hours of awakening, of strife, of remorse, longer than the ride to find him. She felt that it would be impossible for her to wait till he reached the end of the road. Yet in the hurry and riot of her feelings she had fleeting panics. What could she say to him? How meet him?
If Woodrow Wilson had accomplished nothing more than the passage of this Federal Reserve Act, he would have been entitled to the gratitude of the nation. This Act supplied the country with an elastic currency controlled by the American people. Panics the recurring phenomena of disaster which the Republican party could neither control nor explain are now but a memory.
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