Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1837-05-26
MORNING HER AID.
FRIDAY, MAY 26, 1885.
Debasing the Cure nc " Improving 'ne


IN 6~mer times and in ether countries, the debase-
ment Of the coinage or currency was always perpe-
traed by extravagant princess who had run INTO deot
and contr;ved that method of getting rid Of their en-
pagemcnts to people in trade.
The history of England of France, and OF almost
every European nation furnishes US with examples
of this breach of public faith. Princes, absolute ones,
made war on their neighbers built palaces and cas-
Ties for their misressesgot up shows, Journeys, and
royal exhibitions TO amuse the people. Such course
of conduct run them into debt TO the money lenders
and Jews in few years. Pay day at last came and
they had no msney. Pressure and panic overlook
them. And then as last and sole resort, they nva-
rably debased the coin, and, under ccor Of law, set
about cheating the community with as great dclibcra-
lion as the banks in this country have carr SINH
lar operation with effect-now called the suspension
of specie payments.
The PhiIlippes and Louises Of France and the
Henrys of England have oft and again, violated all
public faith, and tempered with the currency TO pay
their debts and hide their extravaganza. We have
no Philippe, no Louis no Henry here, but we have
ST. banks engaged in the same trade. In this coun
Try, the same passions-the same excesses-the same
foles lead TO like result in currency of different
character. Debasing metallic standard is me-
ehanlcal operation springlng from immoral primer
pies A suspension of specie payments is an equally
Illegal act and has its sourcein the same and
same purposes. During the last six years, the whole
country has been crazy in speculahons-in building
palaces-layng out rowns-constructing rail roads
indulgng in all species of gaiety, cenrlousness and
love. Look at New Brghtoa-walk through the
fashionable squares up town-take a trip to the
springs or the shore-every where we find the
works Of spendor profuson, bad taste, and reckless
extravaganza worthy Of king of England or mo-
march of France in the days of chivalry and ourna-
ments. Oar entertainments-ogr public shows
our theatres-our operas-and our splendid banking
palaces have all been conceived in the same style #
exravagance, taste, beauty and madness. Take
walk into Wall street-wha palaces strike the eye,
and fill the mind with visions of wealth! Go to the
seirees of the rich bankerssee their beauteous, SOFT
engaging, accomplished daughters, floating around
the scene, like SO many spirits Of light from the bright
heaven-mark the profusion of that supper table
grooming under all the wines of France and Germa-
ny, surrounded by young men and young women
eating, talking, laughing, pressing coquetng making
love, and going to destruction mcrrly oh together!
tits impossible to cast the eye backward during the
last two years. and the grandeur the chvalry
the eaiety the beauty the folly, the waste the ex
iravagance the roguery, the rapaclty OF the chvac
apes renewed under new shape and in a new form,
in this fresh and glorious world. So much leauty and
fascination so much elegance and wit so much gran
deur and exquisite pleasure have been produced by the
paper money system that we almost in love with
its atrocous vany-its terrible roguery-ls worse
than the rapacity and fraud Of the middle ages of Flu
rope In such state of society and manners-wth
50 much beauty and female elegance around us, warm
ing the heart, and stirring up the soul as If on fire.
bankruptcy becomes delicious, ruin is blessing from
heaven and cheating on grand scale is absolute
genius and elevation of soul.
In the days Of chivalry, fraud, violence and plum
der existed side by side with romance, beauty, female
excellence and enchanting Righteousness But alas
il was solitary and disorganzed. These awful ans
delicious tnts of human nature only broke out in
spots here or there-sometiHes al Tours-sometmes
IN the Rhne-then on the Danube-anon on the
Seine There never has been period in the world S
history where q general fraud and univer sal ec-
vance, beauty and pride of society existed as now
exists in this happy splendid and bankrup. coun
try. We are involved in general bankruptcy
butt is the development Of new kind Of happiness
II is not low, vulgar cunning. 1t marches on will
Napoleon grandeur. We are as gay-as expensive a
ever Our carriages and our gay fair appear il
Broadway at the Theatre-at the Church as proud
ly as ever Who cares for a general wreck . w
changclts character by callngN suspension OF spe
Gle payments. Every thing is in name.
Let il never therefore be said that modern cvlliza
lion and genius can be outdsne by ancient. II tn
kings of France and England dcbascd their coin I,
pay for their extravaganza in former ages, the king
and princes of this new land can Guido them in IN
same trade. We dcbnse il 100 millions IN q singh
week, and pay half foreign debt with an explosion
of exquisite bankruptcy. Woman never looks so en-
gagng, 80 beautiful, enchanting when the worlt
is in ruins around her. She is then divinity. tn,
suspension of specie payment has heightened hel
charms twenty fold. So IL will be!
MrnRoR FOR Asos KENDALL Yesterday morning
we received the following letters by mail containing
complaints of the manner IN which the Herald ID
transmit. ted to our subscribers Let first state the
several cases as follows -
COMMERCIAL READING Rooms,
Pittsburg, May 22, 1887 !
To me Editor IF The Nep York Herald
SrR,-We have received copy Of your very in
tsrcstng and valuable paper for the last ten days
This s matter of regret to well az every other
member of the Reading Room, and we hope that the
Herald will from the time Of the receipt OF this note
be again regularly forwarded. We hold your recent
from 22d April 1897 10 22d April, 1898, signed by
George Eser. Very respectfully.
A. $. NAusraELIsR, Jr.
p g. The subscription was paid by Mr. Ieat,c Of