Washington telegraph., 1851-12-10
correspondence of the Telegraph.
New Yoak, Nov. ID, 1851.

New YoaK, Nov -, 1851.
There have been greater facilities for obtaining
money in this city during the past few days, and
there has been much better feeling in the
market than there recently was. The banks and
private capitalists are full Of money! but they ex-
ercise wise discretion in The use of it. Specu-
latoEs have, therefore, beaome more cautious.
It is this close feeling Of the banks and capitalists
that will keep wholesome curb upon speculation,
and prevent too great an expansion. Nolwith-
standing the growing abundance Of money, and
the reduction already realized in the current rates
Of interest there will be mere failures among the
commercial classes.
Most Of The failures which have been reported
within the past six months have been caused by
speculative operations in 10 way connected with
the regular business of the losers. But for these
ilegitIna,e transactions many ocf these houses
would have continued solvent, and tner credit
would have le,aained un;ainted The mercantile
classes are not satisfied with the regular opera
tions Of trade. They have desire to get rich
without going through the slow but process
of accumulation, They wish, by some sudden
speculation, by some fortunate turn in the stock
market or ia real estate, to secure fortune, and
they risk all to accomplish that ob'ct. The
profits, even the anticipated profits, OF their regu
lar business are involved in some hazardous "out.
side" TRANSACTION, the failure Of which is sure 10
bankrupt the concern. There is hardly a single
mercantile house in this or any other large city
that is not engaged to. greater or less extent in
speculations, either in the name Of the firm or Of
individuals forming it. Our New York merchanta
generally commence business with very moderate
capitals, a nd upon weak Foundation they build
up in a few years AN enormous business. Bpt not
satisfied with this, aud without refecting that
their cred; is already too largely expanded, they
rush blindy into wild speculation, which
withdraws large portion of their capital from
their regular trade, and then any unfavorabe
turn in the markets, any sudden contraction in
the supply Of money, any false estimates i'll their
calculations, or any disarrangement in public
affairs, at home or abroad, is sure to break them
down, and involve them deeply inp bankruptcy.
This is the OF seven-eightlis of the failures
that occur in this or any other large city.
A London paper thus dscourses Oh the progress
OF Bloomerism in Engldnd:
"At the theatres-each Of which has Bloomer
fsEce p esse p0SSe-the effect of the costume
is by no means what managers and authors ex-
pected from it. Instead OF being nightly laughed
at. it is nightly admired At one or two houses
the style has been made laughabe by being bur-
Iesqued and worn by men, but a bevy Of pretty
girls, in short petticoats and full trowsera nicely
gathered in to show graceful ancles, is found
to be much more provocative ol applause than
mirth. One Of the reasons, probably, is that,
customed as We are to the bizarre and extravagant
dresses oil the stage, the bioomer costume appears
perfectly unobtrusiye and unaffected by contrast.
AT all events however, the fact SO, and it speaks
well for the absence Of anything essentially and
intrnsically Iudicrous in tie TRANSATLANTIC fashion.
Had Bloomerism, however, been twice as pretty
and twice convenient as it is, it came FROM the
wrong quarter for adoption in England. It should
have crossed the Channel instead Of the Atlantic"
The old system of cheating returned Califor-
mans has lately been revived here. Among
others detected is noted firm of brokers in Wall
street, who have been doing large business in
buying gold dust-weighing ii with false weights
and loaded scalss. Their profits have been inn
mense, as is usually the case with. these Wall
street operations Gentlemen who figure on
Change, and hold up their heads q, on the Sabbath
day iu fashionable pews in Grace Church, cannot
be expected 70 sell themselves for small con
sderaton,
PETER PIKE,