The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1850-05-06
NJ q N K Y NJ A II X EFT.

suSpAY, May 5--oP.M.
Norew feature has developed itself In the
ket during the past week, and there has been but
slight variation in prices We have been completely
deluged with Europe; aud there had no t.
at the latest date anything transpred In political az
fairs calculated to further disturb commercial
particular change observable In the markets We
however receiving the full beneht Of another
rupture on the Continent In anticipation % rcvolu-
tionary movements, large amount Of capital 4. seek
ing safety in investments In Great Britain aud In this
country, and whatever advantages may be derived by
this have in great measure already been realized 80
that when the events looked for actually take place
| the effect upon most important interests will
be disastrous. With the exception Of cotton, our
staple exports do not command recommending prices
abroad, and prices for that unfavorably az
feted by the unsettled state Of the Continent and the
limited confidence In all things connected with com
merce. The apprehension existing. that something
may happen any moment TO PROSTATE business destroy
public and private credit aud create confusion and
chaos in the financial and commercial world I. so
great that dare extend operations or Involve
himself In any movement beyond what il mpcratIvely
necessary TO keep the machinery In motion Conf
denee is plant Of slow and careful growth and must
be carefully cultivated If it, growth Is checked for
the want of proper care, takes long time to bring
Il again TO healthy state. TT IL now nearly three
years since the commercial and financial classc. were
prosratcd The revolution Of 1877, the revolution ~
1si6 and the deyeloroments made by those events Dc.
ttroyed confidence In individual honor and integrity
to such an extent that IL will yet require years to
place private credit again high as Il once stood
The insolvency and rottcnncss exhibited In the affairs
Of hundreds Of houses previously considered sound and
solvent have created distrust In tho public mind.
which will require years to oblitcratc Confidence at
present Is below par not only between individuals but
In the present and in the future This is the grand
cause Of the present unsettled state Of CONNER.
cial affairs Of the sudden breakdown in any specula-
tive movement. and Of the reluctance the part Of
outsiders to involve themselves In transactions which
may, at any moment collapse and strip them Of every
farthing of their property.
We have before the result Of the spe ,uaiyc move
ments in coffee and real estate Those who have e.
oepcd the ruin that has overakcn many In pursuing
these bubbles should be careful and avoid tina, which
20 follow the explosion Of the fancy stock bubbles
undergoing the agreeable process OF imitation The
rise and fall in prices for land lots aud coffee was
probably greater aud more rapid than ever before
realized and the fl has been equally great and equal
IL rapid Fortunes have probably been made and los,
in these things, In short n time as ever before
realised ty the most reckless. desperate gamblers
WHEN We look at the rise and progress Of these
bubbles. u IL not at all Astonishing that the col.
lapse should be disastrous Fortunately however far
nnsd 20 IT. orignators. Consumers Of coffee for a
short time. had TO pay high price. for the article:
hut the rise IN prices caused BY sp.cuiators
aceumulans large supplies and asins their own value
upon u. But When they had 10 sell the tables were
turned They found that there was a vast differ
enee between asking and getting between buyin. and
selling and sheu they could longer hold and were
forced 10 put their ttoeks urou the market prices
found their proper level through the operations Of To-
gitimate demand and supply. just in real estate.
or land Tote Tho recent rice confined 20 a small
clique ofreculnior' who. ~ combination carried up,
and r time sustained prices. TO tempt outsiders to
ase held This failing. they compelled to give up,
and lst prices down tothrir former level Many ofthc
saiss q rrl estate and land lots reported at the Ex
charge. ell ,hams-wbat L. called in tho street.
vs,h .alss bid In for The and represented AZ
having been actually sold Sale after snr took place.
without enc real tsna aSs bid having been made.
similar movement s rolpr In fancy stocks and tho
viii b. precisely the The buyers all
wall street brokers, and by q combination they put
~ prices from day to day fr the purpose Of making
outsider. believe that the rse {. steady and permanent
and o. induce them purchase One bull broker cells
another At an advance of y per cent and 20 on ell
smons themselves This sdanec bring. into the street
srcst deal a stock which the bulls arc e. PEELED to
nv "a prices rrs,iouy hsed ~ themselves or the
market would an and their Object ts frustrated and in
this cay thsy set barge quansty Of these worthless
soeks In their possession frequertly they succeed
IN drawing In outsider. At high prices Who relieve
them ths tun bfokrs q large lots o. stock; but II
they fsi IN sstrsssing outsiders they ultimately
semr<i,ss torssiire md swsy rces the market upon
IN rus. When money u sbundsnt and cheap, they |
vnl va prices ssvp sssy until ,hsy reach q point /