The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-02-05

need not attempt to show that to vest such
enormous power ia the hands Of any private
corporation would be to endanger the safety
Of individuals, and even that of the whole
Union. Arguments against the grant are, by
this time saperfuous; but the fact of its having
been demanded is an astounding symptom of
the enterprise ofthe age.
A similar scheme was that for running line
of steamers to Africa. They were to be enor
nous vessels. of four thousand tons each and
the projectors of the line agreed to carry negroes
eastward at $40 head. But one requisite to
the realization of their hopes was wanting and
that was the money to build the vessels No
wise discouraged by the discovery of this trilling
objection, the projectors of the scheme coolly
applied to Congress to advance the necessary
funds, and there are some, we believe. who &C.
tually allow themselves to hope still that their
prayer will be granted.
Less chimerical, though scarcely less signif-
cant, to the philosopher who notes the progress
of mankind are the applications recently made
for charters for companies to construct line of
telegraph to San Francisco. This is, in ITSELF
an undertaking which would have covered its
protector with ridicule in any other age and
any other country than this. What would our
ancestors have thought of stretching wire
across the continent of America and bringing
the shores of the Pacific into immediate contact
with the shores of the Atlantic? What will the
people of Europe. who boast of their hundred
or two hundred mile lines, say when they hear
of our erecting line of telegraph that would
nearly encircle their whole continent? 1t is
certain, however, that very few years will
elapse before this grand project will be realized.
Many other schemes we might enumerate.
Intrinsically the majority may be as chimerical
as the Pacific Railroad project; but their vast
ness and their number-as well as the serious
ness with which they are entertained by the
public-are striking proofs Of the exuberant en-
ergy and enterprise Of the age. There have
been many periods of speculation eras Of
bubble schemes, South Sea Stock Companies,
and Mississippi schemes-many years of wild,
reckless gambling in stocks and real estate;
but we are safe in asserting that there never
was time which afforded such plausible ex-
cuse or such favorable opportunity for impos-
sible schemes as the present Money being
plentiful, confidence unbounded, almost every
commercial operation remunerative, and the
most gigantic projects proved feasible, it is a
remarkable proof Of the sobriety Of modern ope
rators that such schemes as the Pacific Railroad
should be the exception instead of the rule 1t
would seem although our prudence had increased
pari passu with our boldness. and ready as we
are to discard all received ideas of difficulties
and obstacles, that our enterprise was invaria-
bly, tempered by due regard for our own in
terest. We never despise scheme because it
was considered impossible by others; but we
seldom commit ourselves to it unless it is sure
to pay ten per cent. The Yankee may shock
his neighbors by the wildness Of his specula-
tions, but he always makes money.
ANOTHER Cry REFORM MovEMENr-We
elsewhere publish the proceedings of q pri-
vate meeting of gentlemen who appear to
take an interest in the reform of our city go
vernment. 1t is scarcely necessary to tell our
readers that we are in favor of the reforms pro-
posed, and of all genuine reforms But we do
not much approve of their mode of doing the
thing, and fear that their proceedings may have
tendency the very reverse Of what they anti
cpate Reform of municipal institutions is not
private, but public matter. 1t is not like
the affairs of q merchant or a firm of merchants.
which may require secresy for their adjustment
or management Reform concerns the whole
city, and every inhabitant ought to be invited
or at least allowed the opportunity, to take
part in it. 1t does not belong. therefore, to a
clique or coterie, and every attempt made in
that way must prove failure.
We are we'll aware that in all such movements
somebody must make a beginning, and q few
individuals may set the ball in motion which is
destined to work great results. But, to be
successful, every thing Of this kind must be open
and abovebcard. There must be no mystery
about it-nothing that leads to suspicion The
motives and objects ought to be as transparent
as the limpid stream; and then there is a chance
Of the public taking hold of it, and making it
triumphant. The cause Of reform is frequently
more injured by its imprudent advocates than
by its most bitter opponents; and we would pre-
fer leaving matters as they are, in order that
they might work out their own cure, rather
than tamper with reform by bungling legisa-
ton, like the tinker who, in mending one hole
in the old pot, made two or three where there
was none before. We rather think that this OBJ
servation is applicable to leading feature Of
the proposed scheme. There are some Of the re-
forms in the report Of which we approve.
But we have very great doubt about the new
finance board. We have strong objection to the
State, in any shape or form, having any thing to
dowith the working Of our municipal institutions
We would not give the Governor the appoint
mcnt Of three members of this finance board, nor
would we give the mayor the appointment Of
three. The whole beard ought to be elected by
the people if any board is necessary But II