The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1852-02-05
A Retrospective Glance ut Reputation.
TO THE EDITOR OF the HERALD.

Europe, financial Europe, stood expectant. A
convusion was anticipated that should shake the
financial world to its base. The foundations
Of public credits were about to be broken up.
France slunbered, and was expected to awaken,
raging in the deirium of q revolution Ihread-
needle street stood as hast-Lombard street buried
fingered the golden heaps deposited there. The
Golfers Of the Bank OF England groaned with glut
Of gold treasure, accumulated beyond oil previous
accum ulations, lay drug, seeking investments
Where should they be made France trembling
over the throws OF the slumbering volcano Of revo'
luton-Austra threatened with republicansn--
with Hun ary-with Franco Austria bankrupt
where should the investments be made!
Such was the condition of the California lowered
world toward the close of the year lo5i
Threadneedle street cast an imploring look west
ward across the Atlantic. Lombard street stretched
forth one hand toward Wall street Shall we make
investments yonder, in the west sold they to each
other; shall we call on Wall street!
Wall street heard tho whispered queries; Now
York raised her head, Frightening with the glow OF
a hope. That hope took form like this:-Ihe
thr eatened governments Of Europe-the rotten
dJnasties Of Europe, hold forth insufficient security
for the investments Of the gutted coers OF financial
Europe. They are coming hither, and New York
is about to become the financial and commercial
centre OF the moneyed world.
But they did no. come at once. And why the
delay! Threa dneedle street. Lombard street saw =
figure, stained and sinister deliberately turning it's
back upcn pile o. bonds bearing the Impress
Of that fgure-bearing its coat OF arms aud It's
seal. Lombard street draws back, signing "Mis-
sissippi-fasher Of waters unlimited resources
Threadneecle street echoes " Nj ssis, ippi--fa.aer
OF lies--unimited Iepudiltions Tncn Repu
diation' is standing ont black aod nc Ivy upon
tie pile Of bonds, and financial EWolc hesitGses,
waite.
She has rot TO wait lorg. The copp Il ear of
Louis Napoleon bursts upca hor attention. All
..ofder roisbs in WaIsa0.' Revolution buried;
the teaviug o. the volcano stIie1; suspense 1t an
etd: CAPITALISTS no longer hesitate between Europe
and America, ~ the tjc,sni tennis f., capital.
II tens Of millions upo. tens OF millions OF the
capital Of the financial world has NOS been at THAI
iunc,ure ard on previous oc:a lions Transferred ~
the United States, what has prevented i but re.
Iudintion
Is there question Of this Is there question Of
tho effect produ red upon the financial credit of this
country rs en- entity. as q whole, lie, the querlss
read what is written By leading banking house in
New York to a CORES pondent in Boston :" lao
cevrso pursued by the Vermont Central Railroad
Company In regard to their bonds will result IA
serious injury to New England. and TO Boston IN
particular. One OF the largest English houses CALI
ed in loan Oh Portland Citys1 per cent bonds for
the Vermont Central Corporation, and say they
viii not hereafter hold bond OF any name or kind
in New England The position If the Vermont
Central Company is so much like reputation that
they distrust everything.
New York may ia time become the great heart
and conre Of the financial world, the depottor the
capital Of commerce and banking but il will not
be until long time after the last member OF this
cenfS deIacy OF atos shall have foreswoTn repuJisr
tiop, and by estahlishing upon hrm foondatioa
a nov broken dit, shalt have lasptred coaadence
in the minds of capitalists. Repudiatiou Is the
father OF nstfuit and fatal to the existence OF tho
ever inseparab!e CAPITAL ARD CREDIT.