The New York herald., 1850-05-20

wears past, il has been generally observed, thar
the railway business in England has not unfre-
quently presented rather dscouraging features in
its progress-that it has given evident signs OF i'm
portant discrepancies in the management OF the
fixed capital, and has, in general, exhibited in
stances of serious financial embarrassment-cir-
cumstances which have caused some uneasiness
and disquietude among the capitalists and railway
SPECTATORS in that quarter. Recent accounts from
Europe do not only substantate the truth OF these
observations, but give us also melancholy picture
of the magnitude of the defalcation in the value
of the original outlay. 1t is stated in the London
Times, that the shares of the Great Western Rail
way have alone fallen to one-hfh of their value In
the market, within two years, and that those OF
other established lines have sunk to one-tenth,
while the aggregate depreciation is not less than
fifty per cent the original outlay, which implies
a loss of fI00, 100000 or $500 100000. Such an
enormous reduction in the value of railways, IN
the brief space of two years. must necessarily ex'
ercise paralyzing influence on credit and enter
PRISE and must naturally entail an awful loss upon
those engaged in the speculatons. Hence is,
we find, that the confidence in the security OF rail-
way property as an investment, is almost entirely
suspended that the most of the companies are on
the verge of bankruptcy, and the smaller share
holders, who generally risked their all, reduced to
beggary and destitution Hence it is that there is
scarcely family in the country, which has not to
deplore some serious loss, and scarcely trades
man OF farmer, who is not crippled in his business
caused by these sudden railway reactions. Such
is the disheartening state of railway property in
England.
Although railway speculation is at present IN
more fourishing condition in the United States
than it is in England circumstance, however,
which may be ascribed to the shorter period OF
time in which the various lines on this continent
have been in active operation-yet there are mani
fest indications of decline in that species Of pro-
perty. few years more, and we may have TO
witness in this country the same prostration Of
confidence, the same collapse of enterprise, the
same convulsions, and the same reactions, as have
occurred in England The same causes as there,
are in operation here, and we must necessarily
pect the same effects. We therefore find, of late,
a material dimnuton in the value of shares, which
will continue to increase, as spcculatons are ex-
tended. Ii has been the uniform demonstration OF
experience, that railway speculation, under the
present system of management, proves to be a
highly runous enterprise to engage in. While the
nation at large unquestionably benefits, and is
riched by the construction Of numerous lines, in
tersecting its surface ina variety of directions and
thus commanding greater amount of commerce;
and while the original projectors reap by virtue of
their contracts their handsome share of the profit,
it is found that the companies or stockholders are
invariably and must consequently be the losers in
the end. We therefore warn all speculators in
railway property to be the look out, for the pc
riod Of reaction in this country is fast approaching
TRouBLEs AMONG THE PoIIrIcIANs.-One of the
loyal committees of Tammany Hall, headed by
Fernando Wood, has issued proclamation calling
for new election TO appoint a new committee.
The other committee, whose chairman is Mr..
Western, repudistes such movement; and so the
council and sachems Of this old society, in spite of
the splendid dinner recently given, not able TO
restore harmony, or to reconcile the disputes be-
tween the rival committees. But there is, also,
struggle in the other party. The wings, too, are in
a state of dissolution, and the committee, which
met the other evening at the Broadway House, had
high time of il. terrible split lie impending over
them. One set goes for supporting the compromise
plan Of Mr.. Clay and the other that Of the cabinet.
We don't believe, however, that the cabinet can
command many supporters in the whg COM
mttee, since the exposure Of that Galphin and
other business.
These internal difficulties among the organized
committees Of both parties, at Tammany Hall and
Broadway House, respectively, are only fair of.
shoots from the state Of things at Washington,
where the like difficulties, and like quarrels, ex-
ist. The rest Of the world looks on, and finds
amusement in il.