LAND AND NATIONAL SAFETY. 239 



the excitement sure to be caused by the 

 outbreak of a great maritime war. No doubt 

 the rapid spread of accurate information 

 would tend to prevent any considerable 

 duration of a rise due solely to panic, and 

 we may assume that the greater the rise 

 of prices the greater would be the exertions 

 made to pour in supplies. But it can hardly 

 be doubted that much suffering would be 

 caused if the rise in price was sudden in 

 its inception, and more especially if it 

 were to continue over any lengthened period 

 of time ; and we cannot disregard the pos- 

 sibility that it might result in danger to 

 calmness and self-possession, just when those 

 qualities would be of the greatest importance. 

 " An example of the influence which may 

 be exerted by an unreasoning panic is 

 afforded by the history of certain occur- 

 rences in the recent war between Spain 

 and the United States. In that instance, 

 the panic in the United States was not 

 connected with any dread of interference 

 with supplies of food, which might affect 

 the whole nation, but was, so to speak, 



