Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1854-08-18

Ihe Herald, from the increasing symptoms in the
movements OF the stock,jobbing commercial and
financial world, predicts an impending monetary re-
vusioD, analogous in its causes and results N ,bs
memorable collapse Of 1887 1t maintains that the
Crystal Palace was the thing that overdid the thing
that it was the inauguration of that that inaupu.
rated the beginning of the coapse-that it was the
old monomania Of the South Sea bubble, the Yazoo
scheme, and the morus multicaulis impos,u,e in =
new shape. Everybody expected to be made rich bv
it, and everybody grew wasteful and exlravar,nt
uPon that anticipation. Stocks, it says, went mo-,
Parker veins, and veins in Grass Valley and in the
Moon went up breadstuIIs and provisions went No
town lots and country homesteads went up, marble
ana Drown stone palaces went up and went
up l" an incredible hgure and continued to 80 up TIL
last May, when they were raised to such atnazin q,
nsures oil extortion as to excite a sensation Of rcac
uon, something Of panic and something Of n pause.
Last year, 1t says, the new Buildings erected in New
York might be counted by thousands this year with
all the materiac TO be had at much lower prices. thew
are reduced 70 few scattering hundreds Tho s,I.s
o. merchandise too, were doubled, trebed. and ou,d
'up'ed IN quantity Then commenced in eor,es,
Pncey expenditure Of individual credit in fine stores
""e SILKS hne houses, splendid turnouls ROYAL din
ners and fast horses II adds
" But the diuos IL over and the 6Ear no, 4, -, 60
collecting bis pay. We are beginning IN con-, ',l''
ports OF specie 20 Europe by miliioTs me- y'' -
merchants are falling back upon the conn,, ~ J'.
country 70 eIoH TO raise the needful suoplies u , wy
" nat trade u dull stocks are down ond 49,. 81 '''eGt
easy upon very sound securities Uhcomro,tsbI J',
OF last years stock OF impottations stil rem.i, ~ p
They must he showed OF az a sactiGce into ., = u
o. cold TOT Whist they will fetch under the b,tn
wanted for the fall style Of 1884, aud tho 'oOIn
1909 and OF the last spring cannot be permitted ~,
over az 20 much dead capital when cash 4, 10 badIv
Cd Inc prospect therefore, Is that the drain N go
70 Europe VIII continue, and that our importers 4, -
eases Win a their Efforts 20 meet their European s
pea WIZ il 70 do so from the failure Of the ntero, ~
come 70 ther relief Extraordinary loans upon us,rv Nv
'he banks viii only transfer the hazard from the
zoe Danha themselves and when they fail the reynl-
sion VIII be complete snd universal
"A more palpable falling or IN the monsrous estimate,
o 1898 OF our speculsors aud fnaneiers far moro deois
I've and remarkable than the tghtnosa among The ne
chants the decline in this city In rents and real ss,.
IN every principal street there are untepanted bousss
stores and significant and placs,ds s H..
rally pcsied mp notifying the passenger of This bonse ~,
let, the uHpe part OF this house 10 let for s,Io m s
&e. Here anS there unfinished block hiss bcen
10 course ofits erection; ADD the interest Al Ie.s NJ b
capital expended is lost from the want Of capital 10 sn
h w. or The shole capital expended may have been
weed Wa "o'-
while there hope Of restoring the equilibrium n
tAnga without material detriment to the communv AZ
se, No we're disposed pass BY these evidences Of an
F Strained Pecslauoa sinking into collapse bu, now