Washington sentinel., 1854-07-13

Europe Peace Prospects Hard shell State Con-
rentfon, &C., Sc.
New YoaK, July II, 1851.
The sensation produced by the great Schuy-
ler fraud has moderated. Wall street is busy
exploring into the facts of this case, and o.
many other cases supposed to be worth look
ing into. The effects of the two millions Of
fraudulent issues of the New Haven railroad
stock, have been a depression in the general
business operations Of this city to the extent
Of many millions of dollars Several large
failures have already occurred in consequence
Of the Schuyler affair, and more may be ex-
pected. Our merchant princes, stockholders,
and spectators, have been spreading them
selves" in grand houses, Aashy equipages, royal
dinners, fast horses, choice dogs, gay dressing,
splendid jewelry, wines, women, and cigars,
horseracing and gambling, to ruinous figure;
and, as the day of settlement comes, here and
there some magnificent fellow, like great
castle upon the quicksands, will tumble into
ruins, carrying a lot of the small fry, and many
innocent people, down with him in the crash.
Wall street, however, has become very circum
spect within the last two months. The Parker
vein and the Schuyler explosions have put the
fancies at very low figure, and fash opera
tions, for the time being, are mostly suspended
Still money upon good securities is not tight.
Upon the whole, things are coming into a COM
paratively healthy condition, from the last sum
mer's initiation.
The great Barnum has resigned the presi.
dency Of the Crystal Palace, because it takes
up too much time, and he has too many other
irons in the fire. Another reason is, that he
cannot resusctate the institution. He galvan-
lied it into semblance of genuine life with the
musical congress, but when that closed, the
concern fell back again into a state of tor
pidity. And yet the paintings and the sculp-
lures, including many new contributions, are
well worth quarter to look at for an hour or
two, to say nothing of the endless variety Of
other works Of art and industry. But Barnum
has backed out, and the Crystal Palace may,
therefore, be set down as an inveterate failure.
Last summer it enriched the hotels, stores,
theatres, and neighboring watering places; but
ruined ITSELF falling short Of its expenses, its
resources and its capital stock, to the extent of
$l25,000. Barnum secured subscriptions to
the amount Of 100000 to give it lift; but
Barnum gives it up, and the case is hopeless.
The visitors to New York this summer are
few and scattering compared with the swarms
which poured in from every quarter last sea.
son. But last season the yellow fever was de.
vastating the south, and then the crystal palace
was very powerful attraction on the way TO
Saratoga, Niagara, Newport, &c. Now the
cholera is almost everywhere and its existence
in New York is powerful drawback to the
people Of the interior, west and south. But,
from the report Of the city inspector, the dis
ease has not yet assumed an epidemic form.
The increase Of the fatal cases last week over
the week preceding, was but fifteen and then
il was the hottest weather we have had for years
past in July, and the excesses here of the fourth
(of which more quiet and less crowded commu.
mites can have no conception) would lead
dispassionate observer TO the conclusion that
the mortality ought to be double that of the week
preceding, to maintain anything like an aver.
age to the causes in operation. The inference
is thus suggested tbaethe cholera is, in reality.
declining here, and / trust that the official re.
port for this week win verify this gratifying
opinion.
Upon careful examination Of the alleged
reasons why the Emperor Of Russia consents
to cvacuate the Turkish principalities which |
his armies have occupied for year, the en-
peror does not give that general satisfaction
which, perhaps, was anticipated. 1t is sus-
pected that he consents to surrender the occo-
patton of the principalities to Austria, with the
Wow Of making her party to the spoils; and
thus to outwit and outmaneuvre the diplomacy |
and military tactics of England and France.
My opinion, however, continues the same-that
Austria, from the perils of arousing the reyo-
utionary elements in Italy and Hungary, is,
BONA fde, anxious for peace; and il her efforts
should fall the result will be against her wishes,
,er interests, and her internal security against
revolution. Austria cannot 20 to war upon
,ither side, without risking an internal revolu-
ion; the war cannot be continued without
lragging her into it; and hence she is sincere
n her efforts for peace. She will do almost
'nything to conciliate the western powers, or
o accommodate the car, SO that there may be
'eace. She must keep down the adherents of
lossuth aud Mazzini, or she is lost. Austria
rill, therefore, remove the burden of humilia- |,
ion from the shoulders Of Nicholas, and, as
o-bctween, will most probably bring about an
greement between him and the western pow.
RS for the re-opering Of negotiations.
The hard-shel Siatc convention meets to.