The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-06-09

and thoa.
before Parliament would employ many hundred tho
sands This is calculated about Ave times sS
uacture and considerably than twice the humber
Of all the hands employed in all the textile fabrics
lace, hosiery sc. The immense amount Of EMPLOY.
ment thus Immediately and directly given by the rail-
workers in wood machinery, directors, sscretarirs
clerks &c, &C. &c, may give some faint idea Of the i'm
mense value Of railways as employers especially
at such terrible crisis the present. and yet there
men, and statesmen too they called who pretend
that this immense system Of employment Ia the ruin Of
the nation And even the Times Newspaper put forth
silly article implying that the crisis delusion be-
cause the nation is rich enough to devote large q
as NIFTY millions to railway operations will offer no
apology for dwelling upon this subject IL
important so interesting and so emnsnty deserving to
The cause Of the commercial convusion now shaking
England ike an earthquake, Is the sudden and violent
the people was Gold merchants &c, had their own Of
p pup ngh sums the popular ordinary currency
soiu ms mas been gathered up and drawn from the
banks by pecnlators houses &C. to send abroad
70 pay or foreign grains Then again. the merchants
pay for foreign purchases they beng obliged to discount
according to their amount OF gold In hand) could of
course longer tie merchnnts and tina
the withdrawal Of the popular currencv reacted mon
the great mercantile currency both suffered and
now suiier together violent contraction derangipg
every business in the country changing every value
oepreclans every property and consequently bringing
Of the little The present experience lesson in noIi.
teal economy-t proves beyond doubt that a specie
currency is in every respect liable TO runous ddsn
and Unforeseen contractions and expansons a. ths
merest paper currency and that many and Is ruin
failures flow from did from breaking bsnSs
running the fortunes the people as much as broken
o. banks ever did You may very probably differ with me
in this view, but am bound to give you faithful and
honest picture Of the things going on here
You will receive in the public papers full details of the
fearful condition Of the population the manufacturing
districts The ministry servelv following the abstrac-
tions of Mr. Peel in political economy present brazen
face to the and refuse finch measures and
policy which are spreading ruin and desolaon over the
country. Such man as MIR. Pitt Is wanted. bold
enough to supply currency and ill up the vacuum
created They however, and their advocates look on the
ruin which they have created by their ignorant policy
sation Of all enterprise, the soppage of the mills the
shorttme work and the suspension of the railroads. are
the most suitable for the present pressurethat n
cure for the ruin.
lano on the subject Of the supply Of wheat. Il IL
found that there Is by means such a supply in
In all parts of the kingdom, and every body now
believes that wheat In n few weeks more will, per-
viii receive Usua serrse
Is perfect panic and how far 1t will CO. or where Il Will
e mo- ONE Ca, can ten m m after the defeat Of
bill cabinet ouncil held and 1t is confidently as
serted that an Immediate dissolution of Parliament and
appeal to the country was determined upon The Minis
try have no rest from ncessant Populations from the
great towns representing the extent Of the
ruin OF trade operations and urging upon them
sures Of relief They will accordingly give way In some
degree, Gas they have already loosely intimately
give semblance OF partial aid in half and helpless
devices, to the high mercantile interests and enable
them to obtain some accommodation from the bank But
they will only be putting little modifying ointment
upon one small sore of the body polite while the nation
at large will have to suffering depreciation Of all
their means and curtailment OF all their resources
continuing dimunition of the currency continued rise
ofprovisions and cutting of OF the Of procuring
them In fact, the very aid which will be give to re-
evo the grandee merchants stop the Of the
great discount brokers' alias pawn brokers will even
tuay only to the su.rngs of the people and agra
vate after time the crisis This is obvious for Il Wi,
enable them to increase the drains floating specie
by drawing it OF with the very accommodation t,sv re-
% Da me nj Inns has
will still more diminish the popular and only Giro
at home and the relief extended to them not in the
least supplying the small circulation, the contraction
will necessarily be tentold augmented. The Russian
two millions Is already on t1py for corn and more
bucket.
Common Council.
BOARD OF ASSISTANT ALDERMEN June 81 w srx-
vrNs Esq, President, in the chair.
Rewards paid Poiiesmen-A communication was re-
ceved from the Mayor, enclosing statement of all mo-
neys ha have been received by policemen az rewards
during the past year, amounting to S59O7 for the
preceding nine months to SA677 70. Ordered on AIe
Nurseries for Aims House Chiidren-Report and
resolution from the Board of Aldermen in favor Of au
thorizing the erection Of suitable buildings Randas
Island for the accommodation OF the Aims House chill
Eniargem.ntc Of Lunate Asylum Report in favor OF
enlargng the Lunatic Asylum ON Blackwells Island.
| 1hirty-sirm street,-Report in favor of repeating
| ordinance to regulate 36th street Concurred in
Rnss Poremenf.-Report from Board Of Aldermen, In
| favor Of causing Broadway, between Washington and
Wsyerly places to be paved with the Russ pavement
=,
corporation the balance by Matthew Morgan and others
Market Accommodation Report in favor of erecting
market shed on the lot or pier between Fulton and
vesey street and appropreting $4,000 to dcfray the
pepses thereof Concurred in.
Lighting NTH Gas.-Report in favor of lighting ST.
Marks Place, and 18th street between Sd and 9th
requesting the Manhattan Gas Company to lay down
main pipes in Greenwich lane 18Th, 10th and 10Th
Houston street, between the Bowery and Avenue G.
Concurred in.
~. N.
ting $500 in addition to previous appropriation
plotting engine house No 10. Concurred in
Pound Master Resolution in favor Of removing Jas
Roosevelt from the Office OF Pound Master and APPOINT.
ing James M Odell in his place Concurred in
Register Of the Water Board-Resoution in favor Of
removing Henry Robertson from the ofice Register
OF the Water Board; also appointing Drake B. Palmer
Receirer of 7dres-Resolution in favor Of appoint
ing smith Cunning Receiver OF Taxes, rice John Stew
Visiters to Blackuelrs Island resolution in favor Of
directing Mr. Ackerman TO permit persons to visit the
Island on Mondays and Thursdays only. Adopted.
Fourth 81 July Observation-Disclosures in favor Of
appointing committee Of 1--WE to cooperate with com
mittee appointed by the Board Of Aldermen to make
and appropriang $4,000 to defray the expenses thereof
Adopted The Chair appointed hlessrs. Allen, Robert
son, Hatfield sbutz and Cummings, members Of the
Committee
Building Loan Siock-Report in favor OF borrowing
500 900 ia accordance with an act authorizing the cres
ton of public fund building loan stock bearing In
terest at the rate of cent with view OF erecting
the contemplated nurseries on Randall . Island.
Pytsidenf's Pisn.-C Communication from the Mayor,
relative to the contemplated visit Of the PRECEDENT 70
this city, and resolution in favor Of appointing
mee Of five to cooperate with the committee appointed
by the Board OF Aldermen, to make suitable arrange
ments for His Excelencys reception The Chair sp.
pointed Assistant Aldermen Coger, Gray Mcknight
Herring and kohler On motion Of Mr.. Gray, the Pre-
sident OF the Board was added to the com ptt~e
Chiefs Returns.-The returns Of the Chief Engineer
OF tn. Fire Department received and the various
removals, appointments, Sc, confirmed.
Siuyrcsanf STANDARDIZATION In favor Of taking the
petition Of Russ Peck and Others relative r~gus
ton Of stuyvessn square, from the files and referring
the same to the appropriate committee. Adopted
After disposng Of other papers, the Board ad.
journed until Monday evening next.
SCENE IN THE ScHUYLklLL-A man named
Ryninger attempted yeste rday afternoon 10 con-