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MONDAY MORNING, NOVEMBER 6, 1854. # The Money Panic. Brokers are interested in the depreciation of paper money, and people are too apt to become alarmed by the panics these brokers have the power of creating. As an instance of this fact, we give a few items below in connection with the reported failure of several of the Maine Banks. J. Thompson, a broker of New York, the gentleman who publishes the "Bank Note and Commercial Reporter," and one who is generally considered good authority in connection with money matters, publishes the following telegraphic despatch in his issue of Oct. 28th: BOSTON, Oct. 25. The "Bank of Hallowell, Maine"; The "Ship Builders' Bank, Maine"; The "Brunswick Bank. Maine," are thrown out by the Suffolk Bank. The date of the despatch, 25th October, will be observed. On that same day, the "Maine Farmer," published at Augusta, was sued for libel by the Ship-Buiiders' Bank, for having fallen innocently into the Brokers' trap, and denouncing that instution as having failed. On the 26th the editor of the Farmer "owns up" that he was deceived, in the following manly style: "We are informed that the Bank has been very much troubled by the rumor of its failure, and has been obliged to redeem its whole circulation--upwards of $90,000. Any one who has been at all conversant with the course of the Farmer, must know that the libel with which we are charged was entirely the result of accident on our part, as it has ever been the rule of this establishment to refuse admittance, upon any conditions, to any and all articles reflecting upon individuals or companies of whatever character. These are the facts in the case--and now, having done all in our power to make amends for the unintentional evil suffered through us, we rest our case, and await the decision of the Court in the matter." The report of the failure of the Hallowell Bank now proves to have been gotten up for the purpose of accomplishing the success of certain political movements in Wisconsin. A certain journal published in St. Paul, of very limited circulation, but under the control of well-known bankers here, "let the cat out" on Friday morning, by coupling the reported failure of the Hallowell Bank, in a most disgraceful and libelous manner, with the name of C. C. Washburne, of Mineral Point, Wisconsin. The next time the journal alluded to mishes to make political capital, and shinplaster capital, for its especial favorites, it had as well be somewhat more careful. The solvent condition of the Hallowell Bank, if it needs more to sustain it than we published on Saturday, is well shown by the following note received too late for our Saturday morning's issue: "WINSLOW HOUSE, ST. PAUL. Friday Evening, Nov. 3. EDS. MINNESOTIAN:--Will you do me the favor to correct the report of the failure of the Bank of Hallowell, Maine. It is not true. I will, with pleasure, furnish current bills or drafts on the East for any and all amounts which may be presented. Yours truly, DORILUS MORRISON." We presume the Pioneer can find out who Mr. Morrison is, by enquiring of Corwith & Co. Galena, B. H. Campbell & Co., same place, or even of any of its own particular friends in St. Paul, Galena, or elsewhere. ELLSWORTH BANK. The mere fact that an Eastern Bank refuses to pay tribute to the Suffolk Bank, Boston, is no valid argument in proof of its insolvency. This appears to be the only difficulty with the Ellsworth Bank, which has, in common with two other of the soundest Banks in Maine, been bruited all through the West recently, as having failed. The Boston Daily Mail says: "Bills of Ellsworth Bank. of Ellsworth, Me., are not received at the Suffolk Bank. We are not advised that there is any doubt of the solvency of the Bank." The Indiana State Sentinel addresses the holders of the notes of the Northern Bank of Indiana at Logansport, and the Bank of Connersville, lately suspended, not to sacrifice them, as the securities on file in the Auditor of State's office are amply able to protect the bill holder. BANK OF CIRCLEVILLE.-A foolish rumor (says the Cleveland Herald) was put in circulation that the Bank of Circleville had failed. Cashier Foot this morning telegraphed to the Bank. and has received the following reply:" All right, reports are false. O. BALLARD, Jun., Cashier." KALAMAZOO BANK. We learn that this bank. located at Albion. Ind., and owned by ex-Gov. Ransom. of Kalamazoo, in this State, has made arrangement to have its notes redeemed in this city, by J. L. Lyell, at one per cent. discount, and also at Indianapolis, Ind.. Cleveland, Ohio; New York city, and also at Kalamazoo. Detroit Advertiser. LAKE SUPERIOR. A correspondent of the Cleveland Herald says:-" There is probably at the present time no part of our country attracting more general attention than Lake Superior. The copper which extends its rich veins-I might almost say-everywhere, and the huge mountains of iron ore, have attracted the eyes of capitalists. The developments of mineral wealth are astounding; discoveries are being made almost daily of new veins promising rich results, and companies formed of substantial, enterprising men. are pushing forward the work vigorously. The earth can no longer conceal her precious wealth, her bosom is opened, and she is made to reveal what she possesses. The Cliff and Minnesota-the two mammoth mines of the upper peninsula--are taking out masses of copper unheard of in the history of mining; silver, too, is found in large quantities, and forms no unimportant item. Aside,