The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-01-26


Wall street is active. Stocks are buoyant,
with q sseady upward tendency. The semple
of Janus ;s shut Excepting. a few filibs.ering,
revolutionary or landstealing enterprises here
and tise-e-in Mexico. in Caffraria in Burmah
in China, and among the bloody republics of
South America-there is universal pelce The
world has taken a new start in the march OF
Improvement and progress. Capital lie abun-
dant trade is brisk. employment is plentiful,
breai is plentiful, speculation is rampant the
bulbs are carrying everything before them, and
Wall street is quiet, but active onward and
active as it never was before.
This is one Of the wonders of the age. The
time was when the change Of the British minis
try. or the most trihing modification Of the
British tariff or navigation laws. or the rumor
of a street fight in the most obscure provincial
town Of France would tell upon the pulse OF
Wall street and render it feverish and uneasy.
Six years ago, the arrival of half million OF
| gold dust, or the shipment Of the eighth OF q
million Of silver, would have told powerfully
upon the sensitive nerves of Wall street. A
lame duck. but few years since, knocked of his
sand, would have paralyzed Wall street, and
created temporary panic in the whole COM
munity.
| During the splendid administration OF Gen.
jackson, he found it expedient to remove the
public deposites from the United States Bank
/ and branches, the whole amount scarcely ex-
eeeding twenty millions, which was transferred
! @oa bo
member the panic in Wall street, and the panic
all over the country, at that SO called "higi-
handed exercise Of arbitrary powers In Van
Buren's time he found it necessary to remove
the government funds from the State banks to
the Sub-Treasury, and the consequence was a
regular earthquake in Wall street scattering
helier-skeltcr thousands ofuntortunate wretches,
and drawing into that confined chasm between
Trinity Church and the East river sucha swarm
of vnltures and buzzards as was never seen be-
fore. Who can forget the terrible effect Of that
transfer of the public funds of a few paltsy mil
lions, upon the whole country? The State Banks
suspended and exploded in fen de joie-mer-
chants traders, workingmen and oilers were rn-
ined by thousands all over the land. Credit was
destroyed; confidence was destroyed; and air.
built-eastles upon town lots, city sites, country
seats and town houses, vanished like fog be-
fore northwest wind Universal bankruptcy
followed; general bankrupt law was passed,
and hundreds Of millions of private debts were
wiped off the books with the universal sponge
Of reputation. And who so stupid as not to
know that the entire schedule Of our political
elections Presidential, Congressional, and To-
cal-from that day to this, were shaped out,
and have been but the consequences of the
transfers Of a few millions Of the public money,
more or less, by Jackson and Van Buren,, from
one aS SET St SfggasifHTlss to another
street, and throughout the country and the
world, since the terrible financial times Of Old
Hickory and "the Little Magicianw Califor-
MIA and Australia forever! We have had q
war with Mexico costing a hundred and
fifty millions, and the people have not
felt it, 1t created scarcely a ripple in
Wall street; and now, with the prospect of half
q dozen wars before us, government stocks and
securities are still going upward. A republic is
overthrow in France--it does not disturb the
ofthe Holy Alliance, is proclaimed, and formally
inaugurated under the Napoleon dynasty-it
does not suffice to bring the bears of Wall street
out of their holes. The United States Senate
proceeds to take mp, and, in the face Of John
Bull, to give life and practical effect to the
Monroe doctrine, while all the country is ex-
pecting the early acquisition Of Cuba, with or
49, Int ~ oh
a muscle in the shining faces Of the old rogues
of Wall street. They withstood the panic Of
threatened dissolution Of the Union ION the
niger question" and they are now easy. They
have heard the cry of wolf" too often to be
deceived, except by some visible and real dis
turbance in the horizon. Wall street is active,
but quiet
A California steamer arrives with two md
lions and half of gold-the real virgin god
and brings news Of another steamer on fhe
way. with an equal or greater amount-it
makes no sensation in Wall street II has be-
come one of the regular branches of trade. Still
more astonishing quantities of gold are extact-
ed from the mines of Australia. and sent to
England; but even there the receipts Of the
precious metals are becoming an every day
story. The activity and the buoyancy. andthe
upward tendency of Wall street and the Lonon
money market and the Paris bourse, however
are mainly due to California and Australia.
Hence, too. the expansion Of trade emigratpn
navigation. and all the multitarious deprt-
ments Of industry, in this vast and glorius
country Of ours and in Europe. which re
reacting upon Wall street and keeping stoks
still upwards. Hence, especially, the advancing
tendency of coal iron. copper. and other mincAl
stocks-not even excepting the zinc stocksf |
the Tribune philosophers in New Jersey |
The fact is, we are in the very midst of I
career of unexampled financial prosperity; an.
gorgcd to a surfeit with gold, Wall street i !
uuietlu snreadinn liz nnserntinns nrer the cnun.