The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1851-06-17

ballet, or the theatre, they would give some evi-
dence of improvement in the character of theirour-
nslism, and be Of real service to liberty in France
They must turn from pr to practical politics,
and not manage SO often to preciphate themselves
over the fence into the street, by their personal
climbing aspirations.
In brief, il is quite certain that had France
possessed, in the revelations of l7s2 and 1873,
such press as is now essential to the good govern
ment of any intelligent republic, or even Ii nited
monarchy, and Of which the world has specimens
in England and the United States-she would have
been spared many Of the commissions that have dis
tracted her. The press would have been there, rs
it is in England and heie, the strongest arm OF the
government Our government in the United States
would lie nothing without our newspaper press
Our state governments and local governments
would be nothing. They are merely administra-
tive, while the newspaper press does all the thinking
work in aivanee-supplies all the information-all
the ground work and raw materials for state papers
and ne laws and, in fact, makes the great public
offices mere sinecures, which commonly shrewd
men might occupy with success. Indeed II is only
when some official undertakes to despise the press
that he gets into difficulty. There is an intuitiVe
saracity in the people which makes them sustain
it for their own good; andthe same spirit, aiso'
makes them Indifferent to all those journals which,
like those Of Paris, narrow their views to the
mere political wishes of a faction or party. In
truth, the American press is now destined TO be
more useful than ever to the people Greatchanges
already have taken place under the influence OF the
telegraph and still greater ones will soon charac-
terize that career which has already been SO bril-
liant We commend to the serious study OF Eu-
ropean politicians, the nature and powers OF our
nress, which is at once the most able and efficient
arm of government and the very Egis of our safety
and security from all apprehension Of danger
Cr-RIors DEVELOPMENTS BANK SPEcULATIoNs.
We refer our financial readers, and indeed, our
readers Of all classes to the report Of the trial of
Mr.. Collier Cashier Of the iavre de Grace Bank,
at Elkton, Maryland an institution which blew
up O few months ago-for embezzlng the funds OF
that institution The Developments furnished by
the evidence, show some curious practices on the
part Of certain fnanc:ers in New York. After a
tedious trial the casher acquitted; but the
startling fact remains, that the bank robbed the
community OF large sum Of money.
One Of the most extraordinary features Of the evil
dence is the testimony in reference to one Charley
Wood" which is supposed to be nom dn grerre OF
some celebrated fnancier in the neighborhood, who
was seen only occasion by Of the witnesses
ard who is spoken Of as a "short, stout man.
Who can he be- The system Of Plainfeld fnan-
cierng which has been in operation in this country
for several years past, is worthy Of the attention Of
historians and philosophers. Various banks IN
various neighborhoods, which have been conducted
On this system, have operated with great success
for a while merely TO blow up in the end, with a
tremendous explosion. The Plainfed system !:
something like the high pressure system ia steam
boilers. The boat builders and engine builder:
generally escare, but the poor fremen and engi
neers, and deck passengers, are blown sky high
when the explosion takes place. During the last
few years, the number of banks which have been
conducted on the Plainfeld principle, and which
after operating on the community for a short time
have wound up by an explosion, amount to half Q
dozen at least located in various parts Of the coun
try, North and South. Here is list Of them -
n