The New Hampshire Gazette

Look out for another Panic!—We warn the people of Rhode-Island to be on their guard against another effort, and a desperate one it will be, to renew the charter of the U. S. Bank. Preparations, and upon a large scale too, are now making, to get up a greater panic than ever yet has been done. Money is now not only plenty, but in great abundance. People of any credit can now get enough to ruin themselves at any moment. One great net is now spread, covering the whole of these United States, baited with gold and at a proper time it will be sprung, catching thousands who will not take a friendly warning. But why all this! We tell you, reader, why. By a recent statement made, it appears that the Bank of the United States has now out upon loan TWELVE MILLIONS, more than it ever had before! Notwithstanding its charter is soon to close, and notwithstanding it made the circumstance an excuse for calling in and curtailing its loans, just before the great panic, about a year ago, it has now extended its loans twelve millions more than at that time. Among its recent discounts are more than twenty-one millions of domestic bills alone. This is only one item. It would be well for our local banks to examine some of these statements, which it is obliged by its charter to make to the Treasury Department. They could have a better view of the despot, that is ruining them by the power they held over them.

Judging from the signs of the times, this panic will take place about the end of the present year. Some excuse or other will be made to curtail the loans and all of a sudden, and about that time panic memorials will be poured into Congress, complaining of the "hard times" in the agricultural and manufacturing communities. Amidst this storm the Bank will petition for a renewal of its charter, and members of Congress will be urged by their distressed and perhaps broken constituents, to give their votes for such a renewal.

Now to prevent our members of Congress from being burdened with panic memorials from their constituents, we warn the Farmers, we warn the Mechanics, we warn the Manufacturers and Merchants, not to hire too much money about these days, and above all not to hire it, because it is easy to be had. We also give a friendly word of advice to our local banks, and that is—BEWARE OF THE "MONSTER"—so that when he makes a dive at your vaults, you can satisfy him without distressing your customers. By extending your loans you aid and abet him. This was clearly proved at the last panic. The monster squeezed the local banks, and the locals squeezed their customers, and the customers raised the "hue and cry," and so it went on until there is one universal cry of distress, from one end of the country to the other—and so it will be again next December, unless people can refuse to hire money, when they dont need it, and can resist speculations, which too often terminate in "South sea bubbles." We say, therefore, to the farmers of Rhode-Island and all others—BEWARE OF BANK LOANS. "about these days."—Republican Her.