Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1845-11-27

|
slant, and to some extent produced the revulsion
which is now witnessed But without desiring TO
undervalue the power and the influence of the
Journal in question, it would be weak to attribute
he prostration in the Share market soely to its
hun er The Bank of England, the critical state
IN which the food of the county has been placed
| by the harvest and the state of the potaue crop
above all, and beyond all, the ridiculous expert
nenis which the projectors Of the numberIcss NOON
shine companies made upon the common sense ct
mankind three causes, irrespective of the diurnal
monitor, hive forced the dcclension to its present
point. The wreck of fortune and of character that
this temporary insanity has produced, will be felt
! long after the causes which produced it have pass
ed away. AS n proof of the event 10 which this
huge system If swndling has been carried, it muy
he menliored that even tddes were not exempt
! from its influence. The female iriends and rea-
tives of those who pulled the wires Of certain i'm
posing puppet schemes were in the habit OF haunt
ing the pnrlieus and officers of the share brok in
the metropolis, to watch The MARKET IN order to
turn their letters of alntments 10 the best account
One of the railway papers mentions a certain batch
Of female spectators who conrived to realize, by
this kind Of chclnery during the height OF the
mania, the astounding sum of G500,000.
! But when the cloud, which INV hangs like
pail over every species of railway speculation has
been cleared awav-when The market has been
thoroughly slited of the bears" and the stays"
of legitimate enterprise the result will be better
|
clear the atmosphere, and commissions in the phys
lcal, p,oduce consequences hardly less beneficial
Than those in the commercial world. better set
of men-men of stability and substance, will step
IN and take the place Of the rotten reeds which are
now being kicked with scorp out OF the way. The
railway system requires thorough wedding, and
no time ever more opportune for efecling it
but the reform must commence with the legislature.
! Inc cumbrous and expensive machinery for getting
| a line through Parliament is monstrous. and
to any parties but those with large joint stock
purse TO back them would be rurous.
CONN ERCIAL.
The American Provision trade presents no very
striking feature. OF Beef there is only limited
quantity IN market, and holders appear to be anx
pus to dispose of the stock on hand before the
rival of the new. Pork is dull, notwithstanding
the small supply in the hands oil the trade this
suit is mainly attributable t" the unhappy state Of
matters in Ireland, where the farmers have been
compelled to force their stocks 10 sale There
| has been some Cheese brought to the hammer at a
public SALE but only one half of the quantity offer
ed found purchasers, and at reduction of IS. per
cwt The market is bare of Lard and the price is
high, owing to the state of the Butter market. The
Wool of the United States continues to find GUS
toners in England, and this branch of trade is in-
proving; indeed, there appears to be- bounds to
10 the tonsumpt Oh of an article which never, un-
I'll recently, formed article of expectation from
| America.
The Corn market continues to rise, and the av-
erages to decrease a little, but the "iuup" in the
scale by no means indicates the actual price which
good Wheat realizes.
Rniiray Trutfc. For the Inst three months of
the present half year Gal 3062 has been recelv.
ed for the conveyance of goods and passengers
the various railways now opened IN England, the
| length of which is estimated at about leo miles.
IRELAND.
The accounts from the Sister Island, for
DAYS past, as regards the potaoe crop, are of
very serious and alarming character. The failure
is dreadful in the extreme, and the prospects be-
| fore great majority of the low cr classes truly
| horrifymg. The authorities at Dublin Castle seem
to have directed their attention to the natter
| Commissioners have been employed to visit the df-
ferent Provinces, and 10 report to His EXcellency
the results of their examination. Up to the pres
ent time these reports of the most discourage
ing character. With people stepped in poverty
As the Irish are, and discontinued with " the pow
that be-" it is trghttnl to contemplate the con-
sequence of scarcity. The numerous railways to
! be III progress next summer, and during the course
of the present winter, will, no doubt materially
Sist to alleviate much OF the suffering that would
otherwise ensGe.
The agitation for Repeal is still carried on.
FRANCE.-PARIs Nov. I.
Railway fever RACES with as much vruence in
this country as the same malIdy appears TO do on
your side of the Channel. High and low, rich and
poo @, gentle and simple, young aud old male aud
| femule-all appear determined To become rich tout
u COUP without any further trouble than buying up
railway property and selling it again. Unuckily,
the golden dream does not appear to be realized for
all but still the failures have not yet been sui-
ciently numerous and sufficiently disastrous to
cause ii TO be treated a deluson and snare au
contraire, scores of persons have been enrlched--
therefore, it is asked why not all? Heaven grant
that the reply to the question be not ruin, wretch
LODI and, MannIvhla Tho l,tir,r
is carried to an extent that would nstonish negll-
gent observer. From petition drawn up by the
merchants of Paris, 1t appears that tlCeniU millions
of British money, or one hundred millions Of dol
lars, are now licked up in railway speculation; and
from calculations that myself have had occasion
to make, am inclined 10 think that the amount is
really not less than Gl5,000,OC0 sterling even if it
be not more. The worst of it is that this enormous
sum is not employed in making railways, but is de-
posted in ban ers hands, and lies idle and unpro-
ducve in their strong boxes. The French Cham
bers have adopted the system of putting up great
lines of railway to public competition, awarding
them to companies that will take lease for the
shortest period, and agree TO give them up, entirely
constructed, and with all their mGtriei 10 the gov
eminent at the end of the lease. This system calls
into existence an immense number OF companies;
each company being compelled to raise the amount
of the capital actually required for the railways
Thus there are six, eight and in one case twenty
companies for particular railways; and by conse-
quence, six, eight and twenty sets OF capitals, or
five seven, aud nineteen more than will really be
required From this you may judge Of the folly of
the system, which necessarily causes such an enor
nous amount of capital to be uproductive for
month after another for long time; and you may
imagine that the merchunllle classes are suffering
grevously for the want of money.
GERMANY BERLIN, OCTOBER 26.
Ronge and his disciples are contlnu ng their ca
reer of prosclyising; and with pretty much the
same success mentioned two mondls ago-in
some places they make thousands of enthusiasts
IN others they have to bolt to avoid pelting, the
horsepond, and the pump. The King has given
the German Catholics place Tor worship, after it
had been refused by the authorities.
In the free town Of Frankfort the new religion
appears in high favor, the majority of the recent e.
! lnrIlnnS having hnnn of lis narlZ