a of a street; the panic of a city
stricken by plague or cholera,--are all dreadful and appalling things,
and have their scenes of horror full of the most picturesque terror;
still are there incidents of an almost equal power when that dread
moment has arrived which is called a "Panic on 'Change."

It was but yesterday, and the world went well and flourishingly, mills
were at work, foundries thundered with their thousand hammers, vessels
sailed forth from every port, and white-sailed argosies were freighted
with wealth from distant colonies. None had to ask twice for means to
carry out his speculations, for every enterprise there was capital;
and now scarcely twenty-four hours have passed, and all is changed.
A despatch has been received in the night; a messenger has arrived at
Downing Street; the Minister has been aroused from his sleep to hear
that we have met some great reverse; a terrible disaster has befallen
us; two line-of-battle ships, whose draught of water was too great,
have grounded under an enemy's fire; in despite of the most heroic
resistance, they have been captured; the union-jacks are on their way to
Moscow. Mayhap the discomfiture, less afflicting to national pride, is
the blunder of a cavalry officer or the obstinacy of an envoy. Little
matter for the cause, we have met a check. Down goes credit, and up
go the discounts; the mighty men of millions have drawn their
purse-strings, and not a guinea is to be had; the city is full of
sad-visaged men in black, presaging every manner of misfortune. More
troops are wanted; more ships; we are going to have an increase of the
income-tax,--a loan,--a renewal of war burdens in fifty shapes! Each
fancies some luxury of which he must deprive himself, some expense to be
curtailed; and all are taking the dreariest view of a future whose chief
feature is to be privation.

So was it now. Amidst a mass of letters was one from Davenport Dunn,
written with brevity and in haste. By a mistake, easily made In the
hurry and confusion of such correspondence, it was, though intended for
Mr. Hankes, addressed to Miss Kellett; the words "Strictly private and
confidential" occupying a conspicuous place across the envelope, while
lower down was written "Immediate."

It was a very rare event, latterly, for Mr. Dunn to write to Miss
Kellett, nor had she, in all their intercourse, once received from him a
letter announced thus "confidential."

It was, then, in some surprise, and