Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1837-07-15
MORNING ~ Il X AID.
SATURDAY, JULY 10, ls31.


x,,ber coming from the old world in many years past
Cotemporaneous with reform in England mere s'ai.
ed I'D system of banking and paper credits winch
have expanded the commercial world for seVera years
past beyond all reason all property ana all haturai
dimensions. The renewal of the Bank oi Englana
charter and the creation of the joint stock banking
system have had an effect upon me commercial ana
political relations of the whole world.
Sir Robert Peel was the statesman through whose
frnness the Bank OF Enga compelled to resume
specie payments and return to restricted curren-
CIV in the year 1922 The old notions Of paper
rency, contracted to moderate quantities. not beyond
what The currency would actually be in specie were
repudialed by the Reform party in England. In con-
sequence of this change of policy in the internal GO
vernment change of the commercial system was
created, the effects of which devastating
the whole civilized world
Democratic sentiment is species Of poetic fancy
in common life-a kind of poetic temperament in
kitchen matters. Associated as il has bcen with an
equally poetic banking system, il may cause an entire
change in the future politics of England by this time
should not be surprised to learn that Sir Robert Peel
was the head ola conservative cabinet. The great
bankers and merchants in England, al throughout
Europe who have failed and broke pieces in the re-
yuIsion, have all been more less connected with
Tn. reform administration of England. They
parts of the movement party" in Earope. Raised
by the too great expansions Of the credit system to
the height of opulence, they have lived like princes
and potentates Of former times. The same features
have marked this class of parrenues both in Europe
and IN America The first bound upwards they made
in social life from the democratic platform in this
country-from the reform platform in England The
sentiments of liberty and equality have been in their
mouths, while tcr hands and pockets were full of pa.
per and promises 10 pay.
The effect of the commercial revulson in Europe
will reach the deepest Of social life. Should
the manufacturers of Manchester and Birmingham
be preciptated in the dust for month, England
will be on the brink of political and social revolution.
The higher classes of commercial and political society
must undergo this revolution but should it reach the
great class operatives convulson will break outn
every large town. and the whole frame of society may
be hurried into an awful and sudden revolution We
conceive England TO be at this moment in danger
Gus crisis Filled with people in large masses-these
masses acted upon by demagoeues-the ambition of
political power stimulating the half educated, another
revolution may be produced equal in intensity and
effect to that of France in 1892 that of England
herself in l64O 1t is singular circumstance that the
wing party in England, like the Girondists in France
have gradually, by their views and doctrines the
currency, accelerated this fearful and remarkable
crisis The pecuniary evils and vicious banking doc
trnes which have afflicted this country, are not hall
so dangerous the same state Of things in England
Here we have boundless prairies, whittier the dis
contented and the ruined retire and be happy
But throw the great artificial frame work Of the Eng
hsh social system into confusion, and terrible
vusion may be the consequence.
We shall look for the next news from England with
deep and abiding interest
FAsuIoSADLEs OF New YonK.-who are they =
Whence came they? Can they point to long line
of ancestry peepling the VISTA of the past7 Hear
what fashionable Of '95 says. Some months before
the revulson of hose worthless seen standing
on the steps of the Astor House contemplating the
scene. A friend Of ours being gifted with second
sight, up to him, and after some brief expana-
tion entered into conversation with the ghost. The
latter unveiled strange things about the nabobs
that were then moestng the eye Of the industr GUS
and bringing bushes upon the cheek of virtue.
"What lady is that in a changeable silk, with a
white bonnet bearing loftily those beautiful fsa-
theirs 7" said our friend.
"She why she is the daughter Of my boot black
He WINS a sad rogue l never could lay my purse on
the table but il gone next morning." replies the
man of 49,
Sand who is that, with pair of red noustaches
bristlng on his upper lpr'
What that man whose boot heels are so high tina,
he is in danger Of pitching on his noseT
eyes"
HE is the son Of my cooper, Sam Burnger. Sam
was notorious for his love Of drink and avarce The
follows in his footsteps, except that he is prodi-
gal"
"Look there that is q well known Wall street
broker and bank director. Do you know any thing
of hint He is the acknowledged prince in the
fashionable world"
"He is the grandson Of my wood sawyer. His IA
ther noted for love of Dress and was not parcu.
lar as to the means by which he obtained his clothes
That lady yonder walking so languishingly along,
and chatting with that impairment looking body, IL
the daughter of my neighbours cook Her beau is the
son of my scullien."
"Tuy our nabobs cannot boast of their ancestry -
"They cannot and then they bear their prosperity
with such Ill grace! Bat their time however, is CON-
lug. Ere two months they will be tumblcd from
their great height and then you'll see their phiIos ,
pAy"
The prediction Of the fashionable of '95 has been
verified to the letter..
Let the new rising fashonabes take lesson Of
their predecessors. They have already beeua to
manifest more good sense Instead Of flying oil 10
thovo Io,~ - L..