The herald., 1837-04-24
From the Weekly Herald Of April al
News of the Week.

beth at home and abroad. The whole frame of the
commercial system gaspng IN the agonles OF death
The news from England and France during the
crash has varied in complexion great deal from
what il was last week The value OF American pro-
duce is still falling in both countres-fallures also
were taking pace-and general stagnatlon OF trade
was the natural consequence.
The governmental in France and England are De-
glnng TO be attracted TO the state OF trade ana the
threatening revulsion going in the commercial sys
tenn The British parliament was In session. en-
gagged in the debates of the local reform. me com
mittee the subject of the currency were sun pro
ceedng in their investigation but had made no reFol.
Some doubts are entertained whether theil COM
mercal roables will not occupy more atten.ion IN
few years than all new reforms 81 ola ihsututlohs
and venerable corruphons. :,
merc;al society i, Eneland and the United States,
will be as fatal to society and as terrible TO families
as the French revolution. The hlgher ranks OF com,
mercial life have been occupied py species si
o,oblesse as elegaat, gay as intellectual as trlvo
lens as that of the Old nobtesse Of France The ex-
traordnary success Of the last ten years in commmer
cal pursuits has almost turned the heads sf half the
commercial W world. 1t the high arlstocratlc caste
into which every man and every woman sighed for
admission in this country and in England as well as
France. 1t is true there is an old nobility IN England
and a remain or rum OF such race Oh ammais IN
France-but commercial society was overtoppng the
attenuated fragments of an ancient world Inc revo-
luton in progress sweeps all the higher ranks
of commercial life, in this country at least, to the
ground.
The news Of the week at home has been very ex-
citing particularly from New Orleans. The accounts
of the further depression of cotton IN England which
they received in New Orleans last week. nave almost
swept at single blow the whole Of that devoted city
with it. The amount Of failures which have taken
place there during the last week, may be estimated at
over thirty millions Of dollars. The whole OF the
south west may be considered in state OF insolvency
from one end of the country to the other
This state Of things is unprecedented Ia commercial
history So artificial and expanded has our system
been that the least blow in distant polnt IS felt from
IN
From Mexico we have also accounts of excite
ment, explosion and incipient revolution Santa
Anna appears to be slowly winding himself again INTO
doubt he will gradually assume the power and go,
yernment Of that country. Texas may be considered
as free forever Nothing apparently can disturb her
In our own city tho commercial revolution abates
very little We have had probably from fifty to sixty
failures of all kinds during the week-some OF them
very large and unexpected. me government a!
ALBANY almost rsr-strcken-they have been folly
stricken long since. What the future has in store for
us is almost impossible to anticipate we still stand
on the edge Of volcano. When the merchants shall
have all failed what will core next? Can the banks
stand iti Who are their creditors The merchants.
Thus do we see how the cycle runs.
We just entering upon the last mon'h OF spring,
and preparing for the summer What difference
between the summer of 1897, and It's numerous pre-
decesssrs The gayety-the beauty-the style-the
fashion of 1895, is damned forever. Sprays water
doned by me Old yuumy, snd iordiy The smi-
ling beauties of 1884, g. and g. will have to stay at
home and darn their old silk socklngs-and the gay
cheyaers try what they can TO pay or l0 cents on
The dollar on millions of debt. most terrible NIL
dew has seized upon the assets of tho great gay and
fashionable operators OF the day IL there should be
any fashionable travelling thls summer, VIII De
confined to those who turn half dollar over twice IN
their hand and spit upon it before they part with
to any body. The second and third race OF beauties
will creep out and look about the world arrayed IN
L.s 49, .l.a and ckara rhp
cav fashionables of the last few years, will now
Rave time to repent of their firtatons-weep over
Sheir pas cenauests-save their sous-turn saints -
and nav as little Of their debts as they can.
In New York radical revolution is taking place IN
all the avenues Of life and business. Little men will
become large men-and unnoticed ouss OF beauty
in the by streets will IN SIX months be the bellies
of the day. In politics even the same change is
coming TO pass The corporation intend TO turn
sn hip and thigh, neck and heels, the whole bundle
IF the employees OF the old corporation. We shall
have curious times during the ensuing summer
Nrw ORLEANS, April le, 1887.
JAMES GoapoN BENNETT, ESQ., Sir,-lo ou
NAV like TO know the all absorbing interest excited
nv the Herald in these piping times in the bank
note world So great is the thirst for correct infor-
nation and sound doctrines, that the express does
not come fast enough to satisfy the multitude VINO
tirrong the post Office reading rooms and Exchange,
To hear their conversations while lingering around
sh ose places waiting for the distribution OF the mails,
Won would believe that the Herald was the only ora
Gle OF the day. NO 0ner paper SPOKEN vi VI 'ouBnt
OF "what does Bennett sayf :" Let US have the
Herald" is in every mouth. Psrsevere in the good
work without fear or favor and we shall have at least
enc independent paper in the nation. When no.
ticed that the bone and muscle of the republic had
had meeting in the Park and that they had disco
yered the secrs that specie was better than paper
that there was no more harm in requiring banks to
pav their debts than ndivduals-that when they did
20 the banks would be shorn OF their power to make
mammoth loans to monopollss, and thereby ena-
kle them to wiring from the working men an unrea-
sonable proportion of their hard earnings for mouth
fsl Of bread-when noticed these things, knew II
would make the Wall street gentry "as busy as If the
devil was to pay, and no pitch hot"
The press Of the nation seem to unite IN bestowing
on N. Hdde, ESQ, great praise for coming forward
an the present emergency to aid those who appear to
be on the high roaS TO ruin, by bonds, stock and mo-
new; such conduct is beyond all question
rnseworthy although done in self preservation, as,
n the storm is su cred to rage without an effort to
vpde its terrific course, will sweep the banks ira
ders and stock -obbers into general of in
solycncy Yet could not but marvel at the revols-
t,op in public sentiment of the CITY" since 1926
Then !, was esteemed the highest offence in Mr.. Eek
ford and Mr. Barker TO come forward and endeavor
10 aid in the same way institutions and individuals;
and because they unsuccessful they were hunt
cd down with a step as ateady as time and an APP
$500 90 Laon m deoth:" and word for II, that II