As such, doubtless, it ffilllb ered i„ England and her co, n thousands on whom it has brouJ The perpetuate its memory because tw never cease to feel its effects n Wlll features of the great panic are al^"* 1 and the important point novX?" the storm has been succeeded by a ca i en as we are informed by the latest £**> England, the English money n J! °* resumed its normal state i, t as out the essential features of thisJ° P P int alike as a warning lesson for the L Cr ' Bl8 ' asaguide to any legislative chan„eu„: i a,ld this crisis may lead. In fti ( « y wn tten 3- on the cris.s, pointing out its causes an 6 sequence S ,evidcntlyfromthesa mepen i' has, in former numbers of the m! drawn the attention of the co„m2 world to several defects in the consl' andworkingoftheßankofEngland r5? articlewefindallthatcanbesaid'ol ' 3 matter so well told that we cannnf ? better thanpresentthose of our read^ v ' have no opportunity of consulting it 2 copious extracts. m And first, as to the panic itself. Wu was it? It is thus described negatively "The late catastrophe was not a JS nor produced any mistrust in tff? ln > lation of the country NeithPr *S """^ hundredotherban\ B ofi 83 ueLT n ls at any time, distrusted. all former crises, it was not connected hT waywthadrainofgoldfroT n an T 8 7 Jer for exporter for internal uJ' S:» QOt ln any respect a co «al Having told us what the panic was not and pointed out that although commercial failures and suspensions followed it asthev always must do, that these were sWiy consequence, and inno way a cause of he catastrophe; and that the trade of the country at the time the crisis occurred was not only in a solvent state, but admitted to be so after the crisis was over ; the writer goes on : "The. peculiar feature of the late cata< trophe is, that it was essentially a bank™ crisis It originated with the lenders, ot with the borrowers of money; not with rade, but with the establishments which lead to trade. The cause of the panic was a dis trust of the banks and other establishments which receive m deposit the spare money of the public. 