The New York herald., 1850-05-08

the mad schemes and specuations appersaiuipR d,
lspss and Iand lilies will bring about disappoint-
neni, despair, Bankruptcy, and ruin TO those who,
are engaged in them and will prove the insolvency
Of hundreds Who have been reputed wealthy Th;.
has sl~ays been the care in similar specnl.s;on.
The Maine land speculations, only about t,vent,
yesrs ago, Were Of this character, resu,t;no in.
mischief 10 thousands who departed from tha
legitimate channels of trade for the fortunes which
ehI'crtd in IaIds, legs, and moonbeans.
Californian firms suffering largely from,
the failure # fome of the most prominent specu-
lators. One Of these men, unrivalled for large ope
raions. has hunt all to pieces in his real estate
epsratiops-hs notes have been dishonored, and
how far biz own ruin may touch the credit of per-.
sons in California, the Atlantic board, cannot
be known. We have authority for saying, how
ever that sone Of his real eetate for which he paid,
three hundred thousand dollars, would not fetch
one-siAth of that sum. The great commercial
finn recently gone to pieces, may wind up with q
a favorable show of assets yet such failures must
tend very forc,biy 10 impress upon the community
the importance of the largest degree Of caution.
Merchants should stick TO figures, and not to
cl,rces, if they won d be safe in such seasons Of
speculation. Everyth NJ that looks like undue
have no doubt, the truth were known. it would
be found that there is tie soundness in the houses
connected with land speculatons; because, for many
months, there has been going a series of frauds
consIiraces and iorgeries among the land specula-
tors, which must eventually break out into public
view, compact and entire ss now appears the sur
fnce of things to delude creduous victims. The
United States will have NEUTRALITY-SUSPICIOUS. into
b.r In III land md oh
have been attempted, however high-handed, or from
whatever source, will throw California back. In
deed. we DO not well see how anything else is to
be sxps ced than complete revision of many of
the Transactions which have taken place. To be-
gin anew, 10 20 over the whole ground again, and
TO obely wolk cut the ownership Of real estate in
California; seems 10 he the only course that can be
adopted. If This should not be done, endless liti-
g,iion will distract society," and the of hard
oboreIs in the fields of gold will become the serfs
Of a few loIds of the lsnd-a few mining bucca-
neors-whose authority, in many cases, will be do
nved BY knavery, frauds, and robbery Of the coun-
ry.
The commercial aspect of California is OF a more
wholeso ome ch racter and should be subject for
| rejoicing The mad prices coming down into
| a reasonable form; and out of this new state Of
things we may look for a happy Improvement in all
the legitimate Offices of labor This is the best
feature that perceive and it is fortunate for the
CalifoIniaos that the land bubble speculation has
been pricked at 20 early period. Had it been
buoyant eight or ten months longer, it would have
been far more ruinous. II will be bad enough
now, and only crushed when the ambition for
rers sonal ACKNOWLEDGEMENT has toppled the mas
ter spirits, who are virtually at issue with the
federal government.