The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-11-25

In the organ the government at wsshipston rropo
ston somewhat similar to those put forth by the organs
OF financial cques In this city showing the
of combination for the purpose of bringing about
movement Of this nature through the Secretary of the
Treasury
Now 1t is pretty well known In financial circles that
the house Of Corcoran Riggs, highly respectable aud
wealthy bankers Of Washington the bankers Of the
government; and connected with it In its monetary
movements and that house the only so situated
1t proper to infer that the practical propositions nut
forth by the Union emanste from that source very
intimate connection exists between the house If
Corcoran Riggs in Washington, and the brokers of
Wall street; and all financial plans suggested bv
their organs, concocted In solemn conclave here
As opposite the priucipeso the political parties upon
financial matters these have been
sod 500 far as party Is concerned, still are it is not
astonishing to see 70 much similarity in principle when
the interests Of the financial cques to which thew look
for support are concerned The patriotism of these
persons regulated by their pockets and any measure
promising immediate advantage to themselves without
any TO the real interest Of the country at large
receives their countensnce and support The exigen
cies OF the government may compel 1t to resort to me-
thods OF raising ways and means, which under other
circumstances, would be repudiated.
The principal object there nsnciers have in view is
an imitation OF to sustain prices for cur do
nestle products They do not look beyond that; they
do not look far enough ahead to the ultimate effect
oil this increase In the volume of the currency Prices
would doubtless be inflated by any expansion Of credits
but such an artificial improvement would be followed by
relapse that would sink prices to deeper depth than
the present depression permitted to take its
and work out It's remedy.
An artificial infation In prices would enable present
holders Of produce, SO to realize, perhaps at profit
aud stocks would become oredstributed at higher
prices The reaction relapse, would be more gene.
rally felt, and the losses would fall upon those drawn in
in the height Of the speculation. That the whole
movement would be purely speculative the improve
ment in prices temporary is sufficiently demonstrated
BY the fact that the consumption of cotton would be
restricted by advance In value and the supply on
the market increased the anxiety Of growers to get
forward every pound they have to spare 1t h there
fore, plainly to be that the whole thing would be
abbe, the explosion Of which, those originally engaged
in its imitation would avoid.
We not yet prepared to propose plan for any i'm
provement in the currencyi object at present to
expose the motives Of those engaged In getting up nan
cia schemes who are taking advantage Of the exigen
cies Of the government to draw 1t into movement of
the most nsdious and dangerous character 1t is re.
markabe coincidence that the organs of the two great
political parties ofthe country agree closely relative
to the duty Of the government in regulating its nan
cial sfYare.