The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1845-10-28
The Speculative Era.

We have already predicted from the financial
and speculative movements OF the present period,
that strong attempts making by the money
ed and stock, jobbing classes, 10 bring about or
commence speculative This view
has already more marked confirmation than we
had reason 10 expect, even when we INDUCED in
our former speculations. During the last week a
variety of stocks in Wall street have advanced,
some flve--some six-some seven--some ten per cent
The excitement in the street has been very consider
able This speculative movement will no doubt rise
and fall; but gradually end with rise, until some
great cause, growing out of our foreign relations
either gives an additional impulse to those move
ments, or throws them in the suds altogether.
We have already pointed out the various symptoms
developing themselves in the commercial world at
this time, which indicate the approach OF another
great era OF speculation. First one Of the proml-
nent symptoms is the increase of discounts, and the
initiation OF credits by the banks of New York
Philadelphia and Boston. So great has been the in
hatlon OF credits in New York, that many of the
banks dividing from ten TO fourteen per cent per
annum. Secondly, another cause of the disposition
OF the time il, the desire already showing itself
10 increase the bank capital in the State of New
York under the general banking law, and also
IN Ohio. Banks may be increased TO very
great extent, without any application for char
tiers, or any outward Indication until the new banks
themselves are in operation. Many new banks, du-
ring the last year, have been added TO those already
IN existence In these two States. In the State of
Pennsylvania the bank movements already active
ly progressing. Announcements have been made
for the application OF seven millions of new bank
capital in that State alone
In fact, on every hand and in every quarter. there
are indications Of prodigious effort made BY various
classes of spectators 10 increase the momentum of
speculation. Those which we have mentioned are
the most prominent, pointed and marked, but many
others, not less significant might be enumerated
CEILING NEWSPAPERS IN BosroY on SUNpAY-A
great effort has been made in Boston BY the religious
fanatics. TO prevent people from reading newspapers
IN that city on Sunday. The Grand Jury have been
stimulated to indict the agents there and con-
tnua efforts appear TO be made to convict them or
annoy them as mucha possible.
We understand that this movement, originated in
the most selfish considerations thatcan be imagined
Several of the old book vendors, dreading the ac.
tlvity and energy of the new class of newsmen who
have sprung into existence through the instrumental
hty OF the independent press, are afraid that
their lazy habits and impudent hypocrisy will
be mastered IN process Of time by the !" Young
America" OF the book and newspaper trade They
accordingly made great racket and noise about
P!ety and relIgon-although the piety of many Of
them could be purchased at the rate of sixpence
hogshead-got up these indictments, and are now
making themselves ridiculous by prosecuting them.
We conceive that selling newspapers on Sunday or
reading them, is as pous Intellectual and as re-
iigious piece ofbusiness preaching IN the pull
pit. In fact we not but many Of the news
papers circulated on the Sabbath day have much
more christian enlightened character, and exercise
a much more salutary tendency than many of those
narrow-minded, sectarian sermons Illuminated from
the pulpit on that day.
The conduct OF the instigators of this movement
IA Boston is behind the ase-uery contemplate in
motive and spirit-and ought to be secuted by all
men Of intelligence and hberality.