Herald of the times. [volume] (Newport, R.I.) 1849-1856, 1852-12-23

III lh' 'iiu oi tne ltdi'
The LAT lNNovArIoN. Prosperity
is great misfortune to some people
so it is to some nations. Often when
success crowns the efforts OF either, the
first thing thought OF is to indulge in
the hgh-heelcd boots Of pride, rs well
as other eXtravaganccs suggested by
the vanity Of romp. Among the re-
Communications Of the Secretary Of the
Interior in his annual communication
10 Congress, none surprised us more
than the proposition TO Ou.ld, at the pub
lie expense, houses for the Nice-Presl-
dent and heads Of departments, AT
Washington, "to provide them with the
necessary furniture, fuel, lights, &c.
&C. The arguments oi the Aforesaid
Secretary are by no means sufficiently
conclusive 10 convince us OF the proprl-
ety OF this measure. Suppose these oil
ficers should be provided respectively
with houses, rs contemplated, the same
sysicm would soon be extended to en-
hrace, the Judges OF the Supreme
Court. and might descend to the various
employees OF the government al the ma
tional capital. 1t would, 10 say the
least of it, be IA departure from the econ
omy and simplicity, which has hereto
fore prevailed, and would be apt 10 hc
followed by other extravagances, not
now contemplated. |; is proper That
nc President, as die first representative
OF tue nation, should be furnished with
a rceidence, as well as all other iacll'-
ties appropriate to the maintenance e
his high positlon-r,quircd as he Is To
receive and entertain foreign enlbassa'
doris, members of Congress, and other
puhlc iumctonurles. But tie Vice
President aud members of the Cabinet
may live as retired or rs public as tie
circumstances Of their salary, or their
own private means muy justify. The
members OF the Cabinet receive six
thousand dollars per annum slm an.-
ply sufficient to support themselves and
families respectfully and if they desire
TO live in more spIeudor than c~n be ai-
iorded by their compensation, let them
resort TO their private fortunes. We do
not feel scrupulously narrow in render
ing lis due reward To the need of II cit,
nor would w. Justify a mean Parslmony
., 1I
There are n number OF men Cling I'M
portant positions in Washington, who
are comp, He'd TO live on from fifteen
10 three thousand dollars yCar-yct
there is no difficulty in finding enough
applicants for the station. We venturc
to>say. the President, elect will not find
it particularly difficult to torn Cabinet
on account OF tie compensation allowed.
He will be responded to by hundreds
willing to accept the distinc ION. and
provide their own quarters in the bar
gain.
The closer we adhere TO former usa-
gcs, the butlcr--lor one deviation from
"first principles" will naturally beget
another, until finally the love of pride,
and the indulgence folly, may swallow
up the las, landmarks OF liberty
A Fortunate SToCx OPERAToR.-In In
the midst OF the stock operations, esrec-
tally in the "lancies,' now going on so
largely in The Northern cities, the prl
ces lluctuate greatly OF course, making
aud losing hundreds aud thousands Of
dollars Tor operators III very short time
The Philadelphia Ledger, after mention
ing one case OF an operator who bough,
largely Of an inflated fancy" IN tie
morning at the top Of the market, vi icl
run down so before night that he lost
$4OO by his days operations, gives the
following as an offset TO il;
We were yesterday told OF case OF Il
person who lew weeks ago started
with only 500. lie engaged broker
to buy for HIN 400 shares OF one Of tie
"fancics.' dcyositinE with hun one dol.
lar per share as margin. The stock
advanced rapidly he sold out appro-
printed the profit as "a margin Tor a
much larger line. The stock continued
to advance-hc sold again, aud again
applied all the profits as Il margin ior II
sull larger line, and 80 on until lie has
realized from his small beginning, $40,
coo. lie now pauscs in his spccua-
tons, aud il he vii only take the advice
OF a sensible broker, to get into the first
ear that leaves the city and not stop uiI-
Ill he reaches a ONT where stocks are
never mentioned he may ho'd and enjoy
hie gains; bot 90 long ~ he stops ~
Che vicinity of the stock exchanges, he
l. most prominent cane date Tor bank
rupicy.
GTThc Navy Yard al Brooklyn, ~
y. wears very lively appelraucc.--
There are ci.ht lnrgc government wan
vcsGcls monrcd there. (cXciusiSc OF the
receiving ship NOfh taroiI"a) all Of
which are fitting oct lor sea with lhe ut.
most tesratch.