Hide a single div within another div

Hide a single div within another div

jQuery Noob here. The following hides all divs. What if I want to hide only one div? Specifically the one with the word TEXT.
<div >
      <div id="hide">TEXT</div>
      <input type="button" value="Hide" />
</div>

With this in the header:

$(document).ready(function(){
      $("button").click(function(event){
            $("#hide").hide("slow");
      });
});

if I change #hide to div then it hides all the divs, which is not what I want.  Any help is greatly appreciated.