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Financial Lessons* THE HISTORY OF MONEY PANICS IN AMERICA. From tho New York Herald. The financial lessons of the past should not be without interest at tho present junc ture. We propose to recite a bit of history. w I he first real impulse to speculation in this I uries that are imported; give us prudence and country followed tho war of 1812 when the i honesty in the management of our railways government issued $10,000,000 of treasury 1 and banks, and it will not be many years be- notes, and placed loans amounting to $1000, fore we should see the load lifting from our (MfclnXi ). -'ll! 18Ii» there were 208 banks with a shoulders, the world our debtor, and a mag- capital of $82,000,000. When the peace of nificent destiny approaching something like Utrecht was declared, these began to fail, fulfillment, and in a few months $40,000,000 was swept -■ ■■ ■ - ■ ■■■ out of existence. Unfortunately we owe the bulk of this to Eu- I rope, and it is beyond our own control. Io ■ the end, however, give us good crops, cheap ! and abundant transportation from the inte rior to the seacoast; give us a market for our produce across the seas; give us men aDd women who will sensibly determine, as they have done in France, to live within their means, to abandon even a fraction of the lux- MACON ADVERTISEMENTS. SCHOOLS AND COLLEGES. The New York stock exchange was created ; in 1817, and in 1825 the country witnessed ! ihe first mad fever of speculation. People ATI A1ITM limiPAI Pfll I CPC began to do business on “margins” even then, H I LMPI I H mCUluAL UULLCuC. and the temptation to purchase certificates of -1 . > with but a small Garment onlv interns!- fllHE SIXTEENTH REGULAR COURSE OF LEC- , *? MU a smali meilt onj y mwnsi- tCKES in this Institution will commence on the '.l .he disease. A water-works company, first Monday in November next, and contirue until for instance, was authorized to hold $2,000,- the first cf March, followin','. 050 of capital: $10,000,000 were subscribed. The Morris Canal and Banking company, whose capital was fixed at $1,000,000, had A. W. GRIGGS, M. D. t $20,000,000 of subscriptions! There were Emeritus Professor of Principles and Practice of Med- t 24 new joint stock companies organized in BERND BROTHERS Manufacturers of and Wholesale and Retail Dealers in IMmS. SADDLES COLLARS BRIDLES, LEATHER, HARDWARE, &c., &c., Nos. 44 and 46 Third Street, 3Iacon, Georgia. A. T. FINNEY Manufacturer and Dealer in C A. IR, IR, I -A.C3- IE S, Sucli as are Needed for FACULTY < rcat Britain between 1824 and 1825. They distributed immense dividends, and thus Limulated speculation on onr side [of the Atlantic. Corporations in New York and Philadelphia followed suit, paying 5, 20 and 15 per cent, semi-annually. Then the railroad movement began, and was helped on by States until “securi ties’ were counted by millions. In the year 1838 there were of bonds $G0,000,000 for banks, $40,000,000 for railroads, $50,000,000 for canals and $25,000,000 representing mis- sllaueous and mere local projects. These bonds chiefly concentrated in the New York f tock exchange. True, New York to-day | does two hundred times mere business than was done then, but country and capital *have iacrer.Sird in proportion. Reaction set in as early as 1834. The market became stringent during*that year, and bank loans rose lrom forty-seven to sixty millions of dollars. Mon ey continued to harden. Banks and brokers failed right and left. Defalcations came to j redden light, and sleepy directors were not unfrequently, then as it is JOHN T. BANKS, M. D., Emeritus Professor of Obstetrics. W. H. GOODWIN. M. D.. Professor of General ami Medical Chemistry. WM. ABRAM. LOVE, M. D., Professor of Physiology. JNO. THtD. JOHNSON, M. D., Professor of General and Descriptive Anatomy. J. G. WESTMORELAND, M. D., Professor of Materia Medica and Therapeutics. J. P. LOGAN, M. D.. Professor of Clinical Medicine. ROBT. BATTEY, M. D., Professor of Obstetrics. A. W. CALHOUN, M. D-. Professor of Diseases of the Eye and Ear. W. F. WESTMORELAND, M. D., Professor of Principles and Practice of Surgery. J, B. BAIRD, M. D , Lecturer on Minor Surgery. V. II. TALIAtERKO. M. D.. Proft-ssor of Diseases of Women. G. W\ HOLMES, M. D„ Professor of Principles and Practice of Medicine. N. D’ALVIGNY, M. D., Prosector to Professor of Surgery, and Curator. Practical Anatomy conducted by Professor of Anato- EMPIRE STONE WORKS 03? MACON, O . f|VHE undersigned Is now prepared to fill all kinds of STONE MASONRY, such as Guttering, Waili n I Graves, and almost everything else in the way of improvements in which stone is required. P. H. WARD, Proprietor. JStf Allorders left at Ward k Nolscn’s, G7 Cherry street, will receive prompt attention. septl4 - eoJlin % -mazed at the discovery of f alse entries “jL". . , n their book-. Speculation, however, con- | r J a h f r '$’. l0,,lD * fee " for ,he Begul,r tour ' c wiU be tinned to inn riot all over -ue country. ; M.tricniatioa (p.id oce on.y) t 5 oo Monster swindles showed their heads every- Tickets for the Full Cmirsr so oo where. Government agents sold $40,000,000 Practical Anatomy (required once only) 10 00 oi public lands in about a year, deposited the j Graduation 25 oo proceeds in local banks, and these were loan- \ Good board and lodging can be had near the College ; ’ out tD fresh buyers until the inflation of j “.^urt/er mrfrmMion'will be furni.bed promptly credit was for those times something fearful, i by addressing Finally the crash came. The harvest of 183G failed. The producer could not pay the re tailer; the retailer could not settle with the jobber; the jobber was unable to meet his ob ligations with the importer, and every link in ihe chain of trade was broken and out of place. The real estate bubble dissolved into thin air, and a few months saw the West in solvent. The losses amounted to hundreds of millions of dollars. The consequences ex tended everywhere. Sixteen banks dropped out of existence, sinking as they went down $132,000,000, and the creditors realized in their settlements about one cent on the dollar. Stay laws fol lowed, and the era of paper cnrrency e. McDaniel, —w I T II— GEO. W. PARROTT & I3XTO., COTTON WAREHOUSE & COMMISSION MERCHANTS, Cor. Pryor A Hunter Sts sep2-lm ATLANTA, u*. Fireman’s Fund Insurance Company of California, CASH CAPITAL 8300,000 OO CASH ASSETS. U1TIVERSITV OF GEORGIA. _ TION will commence on WEDNESDAY, October 1st, 1873, and continue, without intermission, until August 5tb, 1874. The State ang27-tf JNO. C. WHITNER, Agent, 38 Broad Street, Atlanta, Ga. AUCUSTA CARDS. The Southern Market, Barouches, Plnetons, Victorias, Cabriolettes, Bretts, Top aud No-top Buggies, Rockaways, Sociables, Doctor’s Phictons, Sewing Machine Wagons. I Have Now on Hand the Largest and Most Complete Assortment OF ANY MANUFACTURE SOUTH OF THE OHIO RIVER, Which I am prepared to sell at Reduced Prices. Using very best material, employing first class mechanics, having facilities equaled by none, I am pre pared to sell work Cheaper than it can bo duplicated from any portion of the United States. Carriages renovated on short notice, and all work warranted to give general satisfaction. A. T. FINNEY. DOZIER &c W^LTOZEsT, COLLEGE OF AGRICULTURE And Mechanic Arts, s'J'i.'in. founded upon the United 8tat» a Land Grant, is an in- .md new State securities. The resumption of tegra i part 0 f the University, md will hold the same specie payments by the New York banks Term. Every advantage which the country allows, is through a loan Of five million dollars made by afforded for procuring a fiber? 1 education, both in a the Bank et England two year, later. process of recovery, are phases Of the history j ueering and Medicine—the last through the Georgia with which wo have not now to deal. We have Medical College at Augusta, now amtodied with the simply recalled some of the incidents that led University. up to the panic of ’57, in order that the public j THE LAW SCHOOL may compare that period with the present, j rema ; na j n session throughout tho entire year. Libe- 1 he events which culminated in the misfor- ral provision is made for the beneficiaries and for stu- tune of 1857 began their influences as early ! dents of limited means. as 1853 aDd 1854, and chiefly belong to I For Catalogues, containing full jnformation. apply to the history of railroad speculation. Tho aug20-tf country was rich. Trade was lively, and i there was a surfeit of gold and curren- lea The Great Southern Stove Bouse. COOKING AND HEATING STOVES—Every kind. Mantels and Grates, Tin Ware, Wood and Hollow Ware, Sheeet Iron, Zinc, House Furnishing Goods. Etc. ^ e Grocers ^ awso]1 B. Langford, WM. HENRY WADDELL, Secretary of tho Faculty, Athena, Ga. cv. No better opportunity ever offered for T.TTf'V DHUR T\^ f FT f TT7 r ri^ successful ventures. The New York stock LUliik 133111 U 1 r<, ATHENS, GA. Mrs. A. E. WRIGHT, Principal. e:,change was a power in the land. The cred it of brokers was great. They could draw , chocks on accommodating banks for ten times the amount of their deposits, which were ! I -T-h E fourteenth annual session will relaxed their scrutiny of securities in their j commence on the 10th day b-piam t*r, ?3, eagerness lor call loan3, and the weekly aver-1 with a full corps of Teachers, age of loans on promissory notes and stocks) TERMS PER YEAR: was from nicety-five to a hundred millions, primary Department ! $2000 The journals of the day sang hallelujahs over hmA—j| T ‘ I * T ajja -—^ the credit of the country and its unbounded prosperity, and not a cloud could be descried, l ive and six per cent was current interest iu ' ibis city, while in London capital couid not command more than one-and-a-half or two per cent, per annum. Hence England again became P a purchaser of American securities. Her capi- j Sunday and Wednesday’s paper for fe *’-«eks. laltsts bought largely of railroad bonds, takiog ! p ,vri,Snn * v, " > ' 14w t he best. Hundreds of houses at home likewise Academic Department, Latin included 40 00 Collegiate Department, •• " CO 00 Board per month 20 00 For further information apply to the Principal or to JOHN H. NEWTON, Pres’t, Board of Trustees. Lamar Cobb, Sec'y. AB* Macon Telegraph k Mess^ngfr please copy mday and Wedaes " jy31-Sun&Wcd4w had their capital in bonds. Inshort, everybody PatffpSCO FClllillC IliStitlliO. invested m bonds, because they were paying j x Near Baltimore, Md., rsyms INSTITUTE HAS BEEN IN OPERATION s they tar^e interest. Finally, however, there w •udden check to all this mania. There were rumors of war on the continent. The English capitalists became timid and returned their securities for realization. Breadstuff's ^, y.rnced. Deposits increased. Heavy impor- with the mimbcr^of^upiis Mmited to U ninety? it 'has hit ions became due, and a little later the banks representatives from two-thirds of the States, priDci- were absolutely forced to the calling in Of pady South and Southwest. It* location is pre-emi- |C!.U3. Stocks now fill rapidly. To stem the upEUyhei.tlifnLiscf-straKsna easily reached by rail- ... i ai * a-. rood from Baltimore and Washington Citv. wave was impossible, and the money mstitu- • For Circulars address tions were leit with a great load of stocks aud MRS. R. H. ARCHER, bonds that were daily diminishing in value. ! P. O. Elliott City, MJ. The year 1854 offered anything but a prospect j — ot relief. Great issues of fraudulent stocks : Cfl I ITU IT PM CPMA1 F Pfll I EPS were discovered; 20,000 illegal shares ofagrfeat rtHIMLC UULLLliL railroad running out of New York had j been sold at par by one of its principal \ liaG-rango, G ' a * officials; $300,000 worth of forged stock cf another company was on the street; there j INSTITUTION, with a corps of Nim First were minor breaches by tho score, and sus- J class Teachers, will resume exercises ihe last Wednes- picion filled the air. Several Western banks . ^ and a few in this neighborhood suspended. : day m Ausu9t * Fonr premiama for exceJ ence in The depression of prices was enormous. Ite- i Music and Painting were awarded Pupils of this action followed in 1855. Those who dared to ; buy at the low prices of 1854 made fortunes, i Co,le ' ie at tlie last State Fair. For Catslouges. ed Crops were good, the older railroads paid 1 drees L F. cox, President. handsome dividends, and the bills were jubi- j lant. New and competing lines now camo ENGLISH, FRENCH AND GERMAN into the picture. Their bonds sold for any- {J-v} 8 1 , hey fetch, and thousands on . j OABDIS( j and DAY SCHOOL for Young Lmdle. both sides Oi the Atlantic came forward as Jg^ and little Girl»t, 94 Cathedral street, Halt.more, Llivers. The batiks leaned money on these ! Md., Miss Cliaffi-e and Miss Hamorslry, Principals, as- sccr.rities in little more than six niouths to . 8i3tcd bv able l’rofeseors. Next session opens S*p- , .. _ iij tember 18th. Course of Study extensive, comprising l . amoun. of over twenty million dollars. • all branchesofa polite education. French is the lau- h o k . moved gradually downward, but I gaago of the School. Class honors awarded at the pnni seemed impossible, because it was close of the year. Circulars on application. 1» ii v.-d that it could only originate in j au s2 011 ^ Londou, the capitalists of which were not j likely to send back all of their hundreds of millions of dollars to certain sacrifice. The j juncture again became critical. More “irreg- j ularitics” were quoted. Heavy loads of stock j were being carried in the hope of a rise, and the banks began to slowly contract, though i,till generous in accommodations to custom-j J EN THOUSAND SUMMER DRINKS, c-rs who desired aid in maintaining their posi- ; W bich ne is anxious to dispose of to mako room for tion. Suddenly came the failure of the Ohio th« winter fixings—Punches, Wines, Brandy Smashes, Life Insurance and Trust Company. This j Cocktails and everything to make a man comfortable, was the straw that broke the camel’s back, j ip ^ The oply ^ * a toWP ^ It bad advanced large sums on stocks and 240. broad strbest. AUGUSTA. GEORGIA. UTE DAMEL A BILL. .......... DANIEL & ROWLAND, COTTON FACTORS, COMMISSION MERCHANTS, And Agents for the Celebrated Etiwan, Wando, Dugdale and Cotton Food Guanos, Corner Jackson and Reynolds Streets AUGUSTA» GA- tgr CONSIGNMENTS SOLICITED. ang!7.tf. COMMISSION FOR SELLING COTTON, $1 PER BALE. GREENE & ROSSIGNOL, GKO. E. BATCLIFFE Drnggists Pharmacists. GEO. E. RATCLIFFE&CO,,! COTTON FACTORS, G-TTAKTO IMPORTERS AND WHOlESliLE DEALERS IN D3U3S & DRUGGISTS SUN DRIES, PWNTS, OILS, CLASS, fi.0.. No. 264 Br:ad Street. AUGUSTA, CA. GENERAL COMMISSION MERCHANTS, . 11 Jackson Street, AUGUSTA, GEORGIA. \ commodious \ pared to ma liberal cash advances on Cotton and other produce. BAGGING and TIES always on hand. Commission for selling cotton $1 per bale. sep6-2m C. U- PHINIZY. C. H. PHINIZY & CO., F. B. PIIINIZY, j RICHLAND BOARDING AND DAY SCHOOL FOR BOYS, COTTON FACTORS, wl M 145 Lau vale street, near Park AvOhue, Baltimore, Md. M. D. MARTIN, A. M., Principal, assisted by Graduates of the University of Virginia. French | aud German taught by experienced native masters. AIIMICT A p a j Session commences September 15th. Catalogues with AUv«UOlA« . full particulars sent to any address. Refers to Rev. It. j B. Elliott, Gen. A. R. Lawton, R. J. Davaut, Savannah; ARE LIBERAL ADVANCES ON CONSIGN- Samuel Lawrcuce, Marietta; John Martin. Augusta. 69JWest Side Whitehall Street. ATLANTA. CA. T NOW HAVE ON HAND THE LARGEST STOCK OF GOODS IN MY LINE EVER 1 BROUGHT to this market. Stoves, Stoves, Stoves! The celebrated Charter Oak Stove—the moat popular and ni06t extensively used in the United States. Agent for the “Atlanta" Cook Stove. Heating Stores—all kinds and sizes. Have for sale all the most popular Stoves now in the market. rriN WARE—Of avery kind and in the largest quantity. A full supply always on hand, and anything mide to orderpromptly. Very Large Supply of Tin Plate an dTinners Findings, Sheet Iron: Sheet Zinc; Slab Zinc; Block Tin; Solder, Etc. A Large and well selected stock of Light Hollow Ware; Wood Ware of every kind, such as Buckets, Tabs, Washboards, Flour Pails, Sagar Boxes, Wood Measures, all sizes; Brooms, Well Buckets, etc. A Large quantity of HOUSE FURNISHING GOODS, POCKET AND TABLE CUTLERY. Silver IPlated. AA r are IDcpartmout fox* tiro Xiadics: My large stock of handsome House Furnishing goods, Vases, Toilet Sots, etc , are well arranged for inspec tion. The Ladies are invited to call and see them. I have laid in a stock ior a largo WHOLES A L E T 11 A D E. In my line, aud invito the attention of merchants to the same. I can offer special inducements over any other market. Orders from a distance will bo promptly attended to. Goods skilfully packed, and every advantago of the market givon. I am now moving into my new store, (19 Westsiile of Whitehall street, lately occupied by Guilford, Wcod 4 Co. Tho public are invited to step in and look at my new store and new goods. Iu. B. LANGFORD. THE YTIIE^GrlllSriA. FIRE AND MARINE INSURANCE CO. jy29-2m ME>TS OF COTTON. Buy aud sell Contracts for Fu ture Delivery in this ma Planters with Supplies. York. Furnish J sep'21-om Clayton Sheriff Sales. — I ON TIME. TIE GIRL OF THE PERIOD! For the Winter Cainpai»n. S ID HOLLAN that he has I keeps PURE ROBERSON COUNTY WHISKY Is No. 4 Wall street, sepio-2m The Maison DeVille. bonds. The loans were called in, brokers could not comply, and doors of the institu tion were closed, It was the beginning of the end. Panic ensued. Loans were cut down at the rate of $4,000,000 a week. Scores broke daily and universal distrust prevailed, while stocks depreciated from 20 to 40 per cent. Added to this were evidences of mis- j ~ “ " tinntof tile in- STENCIL AND VARIETY WORKS ATLANTA schemes in Congress and revelations of the in- b^a^^Feakness of great corporations every where cropping out, and exposing ail the proportions of a gigantic aud widely-spread system of fraud. Snch, briefly sketched, is the history of two of the greatest financial crises of America. To the careful observer, they ore full of lessons. To the pru dent business man they will sug- g a,t caution. While nothing looms up iu Ihe immediate future that may excite fear, there is enough in the pendiug condition of nffiirs to give warning. Our tremendous indebtedness, State, nation al. local aud individual is our one weak spot. Cor. Marietta and Broad Sts. BEN. Z. DUTTON, PRACTICAL STENCIL CUTTER, Designers and Engravers, Apdhkm Lock Box 3M, - - - ATLANTA. CA. S TENCIL MARKING PLATES of every description ent to order. Name plates for marking Clothing with Ink and Brush, 76c; by mall 85c. Baggage, hote and koy Checks, Notary Public and Society Heal a, Al phabets and everything In the line made to order. Cotten alphabet made a specialty. Ojtiers from a distance promptly attended decS-Jv. within the legal hours of talo, on the first Tuesday October next, tho following property, to-wit; One house and lot No. <>, containing two acres, more or less, iu the town of Jonesboro, Clayton county, known aud levied on as tho property of R. It. Haynes to satisfy nino Justice Court fi. fas. issued from the 1088th District, G. M., in favor of William Morrison. Said premises being now occupied by E J Barksdale. : Property pointed out by plaintiff's attorney; levy made and returned to me by J A Johnson. L C for the 1088th 1 District, G M. This 29th August, 1870. J Also, at tho same time and place, tho north half of l| Jot of laud number 51, in the 6 th District cf originally DELIMITATES himself upon tho fact that lie has , Henry, now Clayton couuty, containing 100acres more * • —-■ ■■—• • ■ • • or less, as the property of Elijah Glass, by virtue of a li f.i issued from Fayotte Superior Court in favor of W R Whitaker, guardian of Sarah F and B F Whitaker, vs William Glass, principal, and Elijah Glass, security. Property pointed out by Plaintiff's attorney. Tenants in possession notified. This August 29th, 1873. ang31-tds N. G. HUDSON, Sheriff. X<£3Z3 SMITH F bee^tusy for the past few weeks iu painting, dusting add brushing up The Girl of the Period, and at last his efforts have been crowned with success. He is ab.e now to present to his old friends and the public generally one of the neatest and coziest resorts to be found anywhere. Ho has opened the season with a fresh stock of pure old Brandies, Whiskies, Wines, Gins, &c., and a stock of real Havana Cigars, as well as those of domestic manufacture. Call on him on Marietta street. sep7-tf FULTON COUNTY Sheriff’s Sale for November REMOVAL. J. A. ANSLEY H _ . . . i WM—nr, uj »mue ut »uu t,u mum/ b uiu. la AS removed bis Office to No. 9 Hunter street, one j jgKUod from Fnlton Superior Court in favor ot Mrs door emit ot Whitehall. Ho offers for eels | H A , Kirkpatrick vs. Jared I. Whitaker and Nannie E W ILL be sold before the Court Honse door in tho city of Atlanta, Fulton county, Georgia, on the first Tuesday in November next, within tho legal hour*of sale, the following property, to-wit: Two bureaus, one wardrobe, one sideboard, one secretary, ono large desk, and six fine parlor chairs l evied on as the property of Jared I. and Nannie E Whitaker, by virtue of and to satisfy a mortgage fl. fa 100 Bales Standard India Bagging. 2 Car Loads Kentucky Hemp Do. 20 Bids, ctioice Sew Orleans Molasses. 20 Bids. Prime Lard. 300 Boxes Tobacco, common and medium grades. 20 Cases double Anchor Durham Smoking, and sundry other Goods. Representing some of tho most reliable business houses in St. Louis, Louisville, Baltimore and Savannah, will buy fora brokerage such goods as may be needed by the merchants of this city. Cotton bought and sold on commiseiou. sopT-lOt ! Whitaker. Property pointed out in fi. fa., September ! 1st, 1873. | Also, on the same day, first Tuesday in November, will be sold on the premisos, in a factory on the corner j of Harris and Butler streets, In the city of Atlonts, 1 Fulton county, Ga. ? one plalulng machine, 1 rip eaw, ! 1 gig saw, I cut off saw, 2 lathes, 1 surfacing machine, morticing machine, 1 lathing machine, 1 boring ma chine, 1 routing machine, 1 moulding machine and trimming saw, line shafting, pulleys and belting at tached, together with all the tools used about said ma chines, all tho fixtures, lumber and material, located in said factory. Levied ou as tbo property of Ron deau k Co., by virtue of aud to satisfy a A. fa. issued from Fnlton Superior Court in favor or Paul Jones, Sr., vs. Rondeau k Co. Property pointed out in fl. fa. A. M. PERKERSON, 8heriff. septl0-w4w printer’s fee $2 so por levy. Liabilities $ 11,314 75 Assets 353,413 79 Net Assets 342,099 C4 Losses Paid Since Organization 1,500,000 00 Forty-one years in existence. Rates as low as in auy other Good Company. _ZV. 1X Xjossos will Too Promptly T* aid. Ten Thousand Dollars are deposited with Hon. W.L. Goldsmith, Comptroller GeueraL of the State of Geor gia, for security of the policy in tuis State. W. L. COWARDEN. President. | WM. WILLIS, JR., Secretary J. GADSDEN KING, Agent, Broad street, ATLANTA, GA. Also, Agent for the Loudon finl Lancashire Fire—Capital: $5,000,000. 8tate Agent, Cotton States life Insurance Company, Macon, Ga.—Assets: $542,201 28. Deposited with Comptroller General, of Georgia, $100,000. aug28-2m LEWI; MANUFACTURER AND JOBBER OF ALL VARIETIES OF Crackers, Cakes, Snaps, &c., Amongst which are Soda, Butter, Picnic, Cream, Boston, Butter, Milk, Batter Wafer, Wine, Farina. Also, Sugar Cakes, Spice Cakes, and Jum bles, Lemon and Ginger Snaps, and others, which I offer to the trade at the LOWEST PRICES I and guarantee my goods to give satisfaction. South Forsyth Street, Atlanta, Ga.