Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1835-12-24

O.
600, was destroyed in one OF the stores-
The Commercial Advertiser says--In the
desultory descriptions which we have writ
ten of this calamity, it has been our object to
avoid exaggeraton, and as far as possible to
allnv apprehension both at home and abroad.
The estimates Of loss first published by as,
were much lower than those of most others,
both in conversation, and in print. And we
are happy now in the belief that we have not
estimated too low. In regard to the insur-
ance companies, moreover, there are good
reasons for believing that in the settlement of
their business, their condition viii be found
wuch better than was at first anticipated. In
very many instances, the claims upon them
will be greatly less than the face OF their poll
cies; and this we apprehend viii be partlcu-
larlv the case with great numbers OF open
policies, covering large amounts contingent.
ly. but under which but small amounts will
be claimed The largest sufferers IN the dry
goods line, we are tod, will be the Lyons
manufacturers, who had recently made heavy
consignments to this country.
i A degree of cheerfulness and buoyancy OF
hope is prevailing, which augurs auspicious-
Ily for us. The example OF some OF our large
houses, moreover, of promptly offering to
cash their own notes, argues strong conf
set by Messrs. Howiand 8; Aspinwall, who,
as we have been informed by one of the part
ners, have large amount of long paper in the
! hands, probably, of many of the sufferers
| Cashing these notes, therefore, at the rate of
simple bank discount, will afford great relief.
! An advertisement of the same import will al
so be found in this paper from the large house
| of b. Aymar 8, Co. Our highly esteemed
! fellow citizen, S. V. S. Wilder, Esq. has like
wise given public notice that he will cash all
/ his acceptances, &c. These instances OF lib
eraity, and of high commercial spirit are wor-
! thy Of all commendation.
| There is one point of view in which this
disaster, great and serious as it is, has been
| instrumental in calling forth a cheering and
! even pleasurable feelng-and that is, in the
evidence it furnishes of the fortitude, and en-
| terprse, and elastic spirit of our mercantile
community. Even in the very height OF the
conhagration-under the first pressure OF the
| impending ruin--it was beautiful to see the
manly composure with which hundreds OF
merchants stood looking upon the destruc.
:. tion of their wealth, and the selfpossessed
| |actvity with which they, and indeed all, ex-
ertcd themselves wherever there was hope
! that cxertion might be useful. Instances
l were not rare, in which merchants whose all
i
nciohbors in the removal Of goods, with as
much energy and spirit as though their own
! fortunes were beyond the influence of disas-
1 ter And during the intervening time-af.
ter the excitement had passed away, and
there was leisure for reflection upon the mag
! nitude of loss, there has not been single
! display of weakness-a word OF unavaIling
! complaint, or moment Of yielding to the
! pressure of the evil. All seem to have been
merely stimulated to greater and more per
! scverng effort; and the rapdity with which
| arrangements have been made, plans devised
and operations in some instances actually
| commenced, is probably without a parallel in
the history of human undertakings. Arthur
| Tappan and Company announced that they
| lhad made preparations to rebuild, on the very
| morning after the disastrous fire, and not on
llly they, but several others, actually com
menced removing the ruins of their stores
preparatory to rebuilding, in the course ol
| Yesterday. In short, on every hand we have
| the most ample and encouraging assurances
that our city will very soon recover from the
| sore trial to which it has been subjected.
Il But although we thus rejoice in beholdine
! the promptness with which our merchants are
putting forth their energies to meet the tasl
! before them, we would fain interpose wore
of caution against preclptancy. The disas
ter may yet be turned to profit, as salutary
though terrible warning. 1t has proved
| where indeed no proof was needed-that tht
system of building pursued generally in TIM
city, and especially in the portions devoted II
mercantile business, is radically vicious ant
defective. The slight unsubstantial walls
which were seen to crumble like mere heap
of sand, when deprived of even the frall sup
port afforded by the timbers-thc excesslv
] height of the buildings, and the narrownes
and sharp windings of the streets, have bee
mainly instrumental in giving to the calamit
: its dreadful aggrnvation of extent. Befor
: the work of rebuilding is commenced, there
y fore, we beg most earnestly to call the atten
n ton of those concerned, to the necessity 9
more substantial buildings, and the exped
ency of uniting upon some uniform piali-p
which the now devastated section will ris
4. from its ashes with order, regularity and beau
). lty.
. AS an example of what ought to done !
!. building, we may refer to noble store stane
!, ing "alone in its glory" where Water stree
= was. 1t was built by Mr. Carman for Hel
!. man Thorne. He was told that the structur
y must be built fire proof and he promptly de
clared that it should be so built, that fir
could not burn it. The consequence wa
) that though wrapped in sheets of flame
:. standing as it were in the crater of u volcan
d in a sea of fret stands uninjured, an
n the goods safe within it.
l. We have already adverted to the losses {
the Lyonese merchants. The Courier dc
e. Etats Unis Of this morning says:-
"The loss sustained by French commerc
"a is immense 1t is stated that but three Frenc
: importers Of Lyons goods have escaped
l. We have said that the loss sustained b
French commerce is immense, but it Inns ia
20 len entirely upon rich houses, their capital I
~ lone will suffer, not their credit. We do NJ
know of one which will not be able TO SUI
Il tain this misfortune without entertaining an