The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1846-08-31

.
The above mass of figures speak, trumpet
tongued, the folly and wickedness of the gamb-
ling system of speculation which turned the
heads of all classes in 1886 and 1887. Here are
the naked results: Four hundred and forty mil
lions OF dollars due, and owing from a certain
number of men to certain number of other
men, and the government obliged to step in and
cancel those debts by an extraordinary act of the
national legislature. But it was not alone those
who had been unfortunate in speculation who
were benefited by the operation of this law. Men
took advantage of it who wished to defraud their
Creditors, just as some men are at present taking
advantage of the passage of the new tariff act, as
pretext for cutting down the wages of those in
their employ.
There was something extraordinary in the
mania that seized upon the people in 1896 and
1886. The whole Union was turned into Wall
street. The false CLEAN of sudden wealth, which
drew away mems minds from the quiet honest,
and steady pursuit of wealth, by gradual accumu-
lation, was only equalled in intens y by the gloom
that succeeded. Men found their suddenly ac-
quired wealth transformed, like the tabled gifts
of the arch destroyer of mankind, into dross in
their purses. A few, il is true, remained wealthy,
but thousands were impoverished.
The returns, which we have given above, of
the workings of the bankrupt act, form terrific
commentary on the recklessness of men when
they seized with the accused thirst for gold.
THE NEW POLICE There is a small-szed con-
test, we believe, going between one or two
members Of the police department and the city
fathers, the result of which we are anxously
looking for. AS body, the new police are
highly respectable; and, by the judcious use OF
the authority vested in them by virtue of their
office, they are highly useful in the prevention of
crime. The criminal statistics OF our city will
probably prove that there has been less crime
committed in the metropolis since the star police
came into existence than at any previous time.
We are grieved to see, however, that there are
certain persons, from whose official station better
conduct should be expected, who, because they
have been elected to represent their feow-citi-
zens IN our civic councils, imagine that they can
control the police department, and in case
of misconduct, consider themselves privileged
from interference A short time since one of our
police in the discharge of his duties found it neces-
sary to arrest an Alderman in Church street, and
for taking the liberty, he has been threatened with
the loss of office. Nor, recently, the police ar
rested one or two of the city fathers for alleged
improper conduct in Broadway 1t appeared
that the Aldermen, who had been TO n dinner
during the day, and aldermanike, had, it is said,
mbibed more strong coffee after their turtle soup
than consistent with the rules of pro-
priety, and coming home late in the night,
took it into their heads to how the new
Russ pavement in Broadway was getting on.
Now it happened that some of the police were
engaged keeping people from walking the new
pavement, until it should be finished, and who
according to their directions from the Mayor,
quesed the delegation of our city fathers to keep
OIL This was more than aldermanc dignity
could stand, and the very polite answer addressed
by them to the police was to go to some particu-
larry hot place, where thermometers are useless
and ice creams at a great premium. The stars
repeated the request, the city fathers continued
they had beforehand the upshot of the matter
was, that the worthy Aldermen were safely lodged
on the sidewalk, their proper place.
We understand that in this case TO the officers
who thus manfnlly did their duty in spite of every
thing, are threatened with the loss of office ON the
complaint of the city fathers. We shall keen n
sharp eye on the proceedings in both cases-and
defend the policemen in question. A few year,
since il was impossible to find an officer to do his
duty faithfully and fearlessly-wc have got few
! now, and any interference with them while per-
forming their duty must, ought, and will, be
frowncd down by The community.
! Mrppyarps ARnrsrgp-we learn from the Phtsfeid
Eagle that the murderers Of Ricord in Windsor, have
been arrested Their names Hugh higgins and Tho.
mas Asn higgins was seen to leave oarn on SUNDAY