The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1849-01-01

The fluctuations in prices for nearly every stock In
this list, illustrates pretty plainly the uncertainty Of
stock epecuIations Even the best dividend paying
security has varied six and eight per cent and Of
the fancies have varied atty, sixty and seventy per
cent. Notwithstanding the recent improve me Mt
many stocks cloed at prices below those the
commencement Of the year, and there is a wide mar
gin left in Others for advance before they will reach
rates ruling earlier in the be year been
avery remark able The fnan :ial and com mercia
revuson experienced at the close Of 1s47 dis
astrous in its effects that have but partially re-
covered and much time must yet elapse before all
traces Of Its progress will be obteratd The political
revolutions in Europe, which commenced early In 1sls
found enterprise and private credit prost
ted by the previous revusion and the effect of the ds
turbances which have taken place Ia almost every part
Of the Old World, apparent In conarming the
widespread run than in producing greater derange
mt In commercial matters Public credit suffered more
by the political revolutions than private and those I'm
merso financial concerns Of Europe, which had been
built up through the influence Of the money power in.
vested in the corrupt monarchcsl nts found
their resources rapidly disappearing, and many Of
them have shared the fate Of their princey supporters
state Of things has already fenced In the
Old World, and financial and commercial affairs have
become, in measure, based upon another and more
solid foundation The corrupt system Of public and
private credit has passed away carrying with dozens
of thrones and Of nanciers and capitalists 1t
will take long time to build up better system but
the lowest round of the ladder has been reached all
cstfes must slowly but steday ascend until the high
et point prosperity achieved that Ia accomplished
upon sound ana legitimate principles 1t will be perma-
nent but II haetiy brought about aud due regard not
paid to all the necessary Details speculation creates
an undue imitation In prices and credits expanded
artificial mes he Init
subject any moment to olapse which will almost In
day distipate all the pleasant dreams OF those en-.
gaged.
The difficulties and endorsements we have expe.
rienced during the past twelve CT eighteen months in
cur financial ard commercial affairs have not beef the
rsut Of any previous imitation In prices or great ex
panson In individual credits, but In consequences of
cur intimate connection with Europe and the depen-
depce placed upon that seotIon of the world for mar
kcts for great ttapc products At the time the re-
vulsen commenced in Great Britain, she was largely
indebted to this country for breadstus aud ohar pro-
ducts imported from and II is the best evidence In
the world Of strong position great resources aud
healthy condition, that able to bear up under
the immense depreciation In prices for our staples in
foreign markets. and immense losses by fures
that We were not as completely Frustrated as cor
responding classes were In Europe. This appears more
extraordinary, Wien the fact Is considered that the
brunt Of the rsvulsion actually fell upon this country
Beiug tie greatest pr, ducer Of TIA, material food
ste RAIN. at, the osses by dcrro,sos In p,ce, ssre