The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-06-17

recently raised than three millions 10 shares for
this purpose and Others the like plea Of self defence
are raising propofopate Now, all this is speculA
ton largely, eq ally and so far safely difused Tue
farmer specuates when he raises his wages tue aborer
when he consumes more bacon and beer; the parent
when he sends another to school, the village tades
when he taxes journeyman into his service, ani
allows another months credit TO his customers. very
sight survey Of the country will show pied
prevalence OF speculation n its usual It's local and its
domestic forms but constituting aggregate grea
though MT formidable the passing rail way acts
to the amount Of hundred millions of money IN
session or loans Of thirty millions to Central and South
American republics.
On pecuation OF this universal uniform and regular
character We have two remarks - make; first, tina. It
is enc than usu4u Wy absorb snt OF the p:eelous
metals then that it is comparatively safe A the
first point We have very little doubt that there is
monsy sHoat in this couy III IN thsre ever wa before
only boarded deposited but TO speak, ia tine
pockets Of the people, and "fruclyiGg accordingly.
The working classes find extreme difficulty Of iuyest
DeLt IN ttis country-hardy any alternative, indeed
except the Two and three quarters per cent given by the
not Lfaslc saviDgs banks, the certain ruin OF the
public hcuae, the Probable ruin OF the SHOP aud the
per cent offered by the radssrnan lawyer who may
may not ever give back the principal In the face Of
this difficulty servants ami working people all classes.
have no choice but 10 keep their money IN their
AID we believe the amount 30 KEEP. ~ now unusually
large, 10 abundant is ~ork, and high wages To
this OF The ing medium which 20 poa
out because can appear and is only matter
o. upon persongl experience, must no al ed
the misense sums retained by the gold producing colo
themselves add the many millions annually carried
TO them The drain OF the precious metals to tina
continent India ard Ia coin to Australs has besn
need nat nov enlarge on IT, IL people ask aud pro
sume they will ask more than ever, where oil IN.
goid goesS-bos the siyty, even q hundred miou,,
lately added to the currency above the increase
has all dis sypesrvd we need only ny asking
Where shout money gof' Where except into the
working mans pocket tbs shopkecper TILL the strong
boa the superior traesaanS Ia ether words the be-
and IpOss natural result OF great influx " wealth Is
general II crease VI pey and by which
the oommuoity 10 enabled to hold much larger quantity
Of in solution, without prcoptatug 1t into tho
cellar o. baths.
Nor it be doubted that such state OF things Is
much safer than Of enterprise ia two
branches OF industry Indeed thee Is nothing od
nothing TO excite any particular migiyn2 ia the'o,m.
mer ;isi worls ~ tnis moDeat no rash incurrog OF
upon rev tssea and babiss OF expenditure At least.
without defending all that sees, and without lliipg
proper caution, may that there Is such
yseauce ia prog a. Is hkey To be followed by peri.
Ious reaction. The dangers this time rather from
without than from within the commercial world. The
msgoveinment ana failing OF Indi the
Of Burmese the dark futurs OF Chna tue nscrut
able movement, II Russis the still glowing ember5 OF
European revo iionsi that terrifes kings, ard al tina
iDiuriaes peops-consitute rather formijabis whole
~hich has It's effect the ssnsv nature II the
capitalist When such state Of affairs superyenss
general absorption " money fast IL il Gdisd 10 the
circulation wsnder that startled III he very
hour Of pros p~rity To find money dear" the
th,es cents falling belos par and mptos VI
sibIs storm In The mercantile atmosphere.