The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-06-25

mortgage bonds q The os,s.A Al 0AisAss UaAsa Ran
road Company, VIII b rsosivsd 81 the Ones Il WsAs-
worth & Sheldon, No. - Wall street., until IA o'clsdk q
Saturday, the 18th d June. The bids viii b opsasd 1t
8 o'clesk Of the same day. Ths terms Of payment arc
10 Per cent on being notified o. ths acceptance Of propo-
sails; Is per cent ON the lat day Of July nsxt; rs per cent
ON the LIST day Of August next; Is per cent ON ths LIST
day Of September nsxt, and Is per cont on the lst day Of
October next, payable to the subscribers. The bonds
will b delivered - payments are made, reserving the ten
per cent first paid to apply upon the last instslment.
Subscribers may, however, pay the whole amount, AID
receive the bonds, at their option, and interest viii be
adjusted ct the time Of making the Anal payment com
putting interest on the bends from the data Of same. The
company reserve the right to accept the proposals
for the whole or any portion Of the amount offered,
awarding TO the highest bidders such amount Is shall BE-
a~ccepted.
The Auburn woollen Factory. with the maohi.sry, WAS
sold yesterday afternoon at auction, for s54, Ooo. Tho
mill originally cost el4s, 900, and 4 in good order.
We have had such q long period Of prosperity that the
impression Is daily gaining strength that We must soon
experience . revulsion-a reaction in financial and COM
msrcial affairs. Those who do not So any indications
OF an approaching revolution, think that 1t IL about time
another crisis should be upon us. Many have been In
the habit Of anticipating periodical revulsions, and on
that account they think II is about time We should have
another. Others, who look more closely into the matter,
exhibit considerable anxiety relative to the future, in
consequence of the steady expansion which has for seve-
raj years being going ON In publ, and private credits.
The numerous projects which have from time to time
been put upon the market, and the immense amount Of
capital which they have absorbed, induce the more eau.
tious to suppose that We are nov moving upon "a an
sound, dangerous surface, and must, before the Lapse
Of many months, DO brought up suddenly with . ire
mendous crash. These fears and anxstiss ara natural
enough, and We are not disposed to make Light Of them.
The effect Ii rather of . favorable character than other.
wise, and we are more In favor Of frequent moderate
checks than any sudden, disastrous withdrawal OF public
confidence. We have had, It Is 4 true, . period Of about
six years Of great commercial prosperity; We have, within
that time, enormously extended our system Of internal
improvements, we have projected and completed lines Of
steamships extending across al the great oceans, and
have constructed . feet Of clipper ships, surprising in
number the navy of Great Britain. We have enlarged
and improved our cities, and have 6ned them with splen-
did palaces and magnificent storehouses. Our great
staple products have kept pace with the progress Of
other things, and consumption ID fully up to the supply.
Amidst all this, prices for the necessaries Of life have pre-
served . uniformity unusual in times Of prosperity and
extravaganza. Luxuries have become more expensive,
and those who have been disposed to indulge have had to
pay well for 1t. The power to live within moderate
means has, however, existed throughout. and the poorer
classes have not been obliged to 60 without any Of those
ordinary comforts. In this particular, ct least, the present
state OF things differs materially from those periods whom
speculation was rampant and production appeared TO
have been lost sight OF entirely. The movement nov Is
natural and real; thsn It WAS artificial. It was st the time
speculative now 1t is bona Gd and legitimate. The effect
is altogether different, and the result viii differ materially
from what Is generally anticipated. In former times the
basis Of s-y expansion was paper, now 1t 10 something
more substantial. Then speculations took hold Of vision
AIRY things, now 1t tends to the Development of oar most
valuable resources. The great speculative movements in
past years have been confined principally to unproductive
kinds of property, to real estate, or lots located NO one
knew where. Beautifully engraved maps were consulted
to learn the situation Of lots which had never before been
heard Of, and capital and credit wers lavished upon prop
erty which, in itself, had no actual value. All Was I'M
real, artificial, a bubble. Now we are working upon a
different foundation and upon different principles, and the
result must, as q natural consequence, be entirely differ
emf. Every great interest Of the country Is at present 10
q sound and healthy state. Production has not been ar
rested, but, on the contrary, is going on more vigorously
than ever, and prices for all our great staples are but
moderately remunerative. This Is favorable for the con-
Stunning classes, and preserves q healthy state of those
interests. The basis of prices is gold and silver, and SO
long as that Is the regulator we shall not DO subject to
those violent changes and great extremes which have
heretofore been SO disastrous. So long as the sourcas NJ
all national prosperity lumain SOUND, we may rest assured
that no general revulsion can occur. So long ~ the in
dustrial interests Of the country continue healthy, SO long
our prosperity will be permanent.
We know Of no speculative movement on this side Of
the Atlantic which has yet reached an charming extent.
There has been no important imitation Of prices; demand
and supply are pretty evenly balanced, and No have close
~ scanned ths financial and commercial horison for the
first indication Of an approaching revulsion or revolution
in our affairs. Tho frst thing We naturally look to, for
tho purpose Of seeing what the future is likely to bring
forth, is the complexion Of our banks. They are . sort
Of indicators Of the effect Of the present state of things
upon the future. We therefore annex . statement show
ing the movement IN the leading departments Of our
banking Institutions in sAeh, of the past nineteen years.
BANKING MOVEMENT IN THE UNITED STATES.