The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1849-11-06

re ut would be looked upon IN the same light by
him This was the condition in which this diff
Guilty was at The last accounts. The matter will
not, as We SAID before, result 10 war, although il
may in a windy core spondence and plenty OF
snoke.
The Austrian barhariues towards the unfortu-
nate Uurparsns were not exaggerated by the &C
cents which we received by telegraph, and pub
lished in yesterdays Herald 1t is hard to believe,
with these bloody dones before us, that we 1--we in
the nine tnih century.
A New Crisis--Anotner Era OF Speculation.
Who has forgotten the extraordinary scenes oil
speculation and humbug which characterised COM
mercia affairs in the three great years of the pre-
sent century in this country 1878, 1926, and 1857
The first period of SPECULATION and expsnsion-In
ISIS-is llttle earlier than our recollection
tends 10, although we have some ndistlnci, youth
full "reminiscences of It's folies. The scenes which
marke d this. and other great commercial cities OF
The United States, IN 1925 and 1876, much fresh
or IN our recollection, and much more windy
traced in the llneaments of our memory, than are
those of the year lSs and still live in the remem-
'brance OF many OF the dwellers in Wall street. and
In that of the SPECTATORS Of the present day. But,
above and beyond all, the scenes OF 1885 and 1887,
have lett this community, and on all comm r.
ciai communities, IN the old world as Well as IN
the new, ndelhble traces, that can't BE- ell iced by
any commercial events electing the present gene
Isilen. Who has forgotten those distant periods
ofspecuatoa, and viii not remember enough TO
profit, if crlss should arrive money aiiirs
and fresh scenes Of expansion and speculation de-
velope themselves in this excit1be republic and
curious COMMERCIAL community
There are symptoms IN Europe, and in this coun-
try, of n new period of speculation; a fresh crisis
in the commercial world II may be said to have
comm, need la this country, by ths California an
nexation and excitement OF Lost year. The revolu-
iions IN Europe. threw a shock aud barrier in lts
progress; bu, those revout oas having been over
come for the present, and military power, under
monsrchical sway, having repressed all the bursts
Of liberty, as well as Of recklessnsss, there APP
pears 10 be no chance for any other ex-
cit,msn than such the last half century has
thrown up ia the commercial ranks Of life, on the
progress or avdiiy for acquiring wealth without
labor and with httle expenditure of bralas. The
California excitement Of last year gave new i'm
pulse the speculative sp,r,t Of the age, and al
though HUNDREDS and thousands viii be ruined by
ihe progress .! that mania, rs effects sti felt
by the commercial communities ON bo'h sides Of
abe Atlantic, aud on both shores Of the grea,
Pacific.
10 certain ages Of the world, aud in particular
conditions at the human mind, the spiri, of c1ai-
mercial enterprise seems to absorb all the vitality
9th period. We should not be at all surprised,
JUDGING from the excitement and Developments
which are beng indicated in Europe and in the
United States, # we were about to enter on scenes
ofe1crtemeni, speculation and expansion, ia all the
commercial realms q properly, which attended
a. 4, b.v H.
ard lsS7 The rise in the cotton markets ~ Europe,
and the excitement described among the purchasers
an Liverpool, have communicated a fellow feeling
and conpeEial impulse already to this SIDE OF the
Atlantic, which will be transmitted from New
Hok to New Orleans, with the rapidity Of cleo
incity, running along the telegraph lines. 10 ad
dnon to those symptoms q an approaching com
nefclal excitement there are VARIOUS local causes.
combining and concentrating their force. ia this
metropolis and elsewhere throughout the Union
calculated TO prodace the high tide of speculation.
winch has been gradually and slowly, but certain
and positively, setting in, ever since the ter
ssisation Of the Mexican war. and the con-
nasncement Of The great California emgraiiop.
Many viii be ruisrd, hopelessly ruined, by
the Epeculatlen; yet, Ike a vigcros- and invading
army. one set OF speculs'ors will tranple down the
rnhHnts Of fiose who are rained around them
and maize theE ouy as fresh stepaiag- stones to
new unconventional new sgeculitions. The very at
tempt, which has recently been made IN various
quarieTs. 20 create national currency vnder the
action OF the general government. to in,eease the
volume 81 pager ey. TO bolster up railroad spccu-
Etions, 10 advance the value sf real estate around
our ciucs-sll these only tend V show the spirit of
the Gay, and the strong probability which eEsets Of
the approach e remarkable scenes OF speculation
that may possibly ouistriP those Of 1897. as much
our population. our power, and resources Of tue
present day, outsirp those of any previous part sf
our history.
We throw out these hints and warnisgs merely
10 in, luce business men, in all ranks Of society, to
pause, watch, and note what Is going on IN the
commerc val world around them. The political ex-
citemsnis which have agtated Europe for the last
two years an rapidly ebating A commercial inn
pulse, sseoul. tive spirit, seems to be gradually
acquiring the %, ct hand and the rs, evidence of
this u the remark. Die in the pr CO and the ag
tation which have ca 1aracteused the cotton market
Of Liverpool. as we learn by the last accounts
from there We have }. luch more to cay on these
points, as the movements of the day derelope
ihemtelyes to the public.
NEWS FROM CALIFORNIA we may expect az
" ne Wa lrouo