The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-07-12

FINALE OF THE CRYSTAL PAIAcE-T .
agony is over at last, and the Crystal Pa
lace is no more. Simultaneously with the
glowing accounts Of the opening Of the resus-
citated Crystal Palace at Sydenham, in Eng
land, the newspapers announced that our Crys-
tai Palace is abandoned a. q failure, and that
the property Of the association is to be sold to
pay some portion Of its debts. The two under
,akings have presented striking contras
throughout their existence; but this last ia
beau is by far the most imposing and instruc
tive Of all. On the one side the sovereign OF
Great Britain, surrounded by her ministry anu
the power and genius of the land, inaugurstes
afresh, amid the majestic strains of solemn
music, the noble edifce now consecrated to the
recreation and enjoyment Of the British people:
on the other, q sneaking announcement in an
obscure print tells us that the President of tn
New York Crystal Palace has resigned in con-
sequence Of 1.-The too onerous duties of the
position" and adds that the concern will be
closed and its effects sold off on the 3lst OF
October next The comparison appears the
mere striking when we remember that one
nation Is at peace, the other at war: that int
creased taxation and fresh levies of soldiers
have not in the one instance initiated against
the successful achievement of work which
overlooking prosperity and nat onal quiet were
unable to carry out in the other. These re-
Elections are CALLING to our national pride.
1t is well, however, that they should
lie presented to our minds the lesson
they teach is wholesome, and, whatever
it cost, it must be learnt. No one will
be silly enough to suppose that our
failure and foreigners success argue any radical
inferiority in us or superior ability In them:
they only show that while they choose their best
men to conduct their enterprise, we abandon
ours to some Of the worst that could he found
for such q purpose. We shall do better next
time. Meanwhile, the example of the Crystal
Palace must be kept well in mind.
From its origin to it's close, it has been
positive injury to the country and the city.
Before the pillars were erected, its stock had
become Wall street fancy, and sold at seventy
five per cent premium The directors may say
what they please about their subscriptions be-
ing limited to certain number Of shares; but
the public will always believe they were privy
10 this gambling Nor can they shake OF the
responsibility Of the expectations that were
raised, and which led to such disastrous specu-
lations in building lots and housek Real estate
rose from twenty five to hundred per cent on
the strength Of the expected influx Of popula-
tion. Rows Of houses we're hurried up in the
vicinity Of the Palace: the builders counting
confidently on handsome returns from the in
vestment In consequence Of the statements
which emsnated from the company. More
than half Of these are now vacant, and
the owners would be glad to sell out at
q heavy losA The prices Of board and rent
we're increased throughout the city, and the
cost Of living largely augmented. All this was
in anticipation Of the throng foreseen by the
Crystal Palace Company When the time
came for the opening, the building was not
half ready. Exhibltors many of whom had
come from great distances, and visiters who
had brought their families to see the temple of
industry, spent their money idly at hotels, or
returned home sickened. When the opening
day did come, the ceremonial farce, and the
dinner which followed, completed the measure
of contempt into which the concern fell. 1t be-
came by-word aud laughing stock and
consequently, when the exhibition closed, IL
vas found in debt to the tune of sl25.OoO
everybody who had ever been connected with
i or who had taken its existence into account
financial calculations was a disguised loser
Twould have been charity to bury it then and
here, and say no more about Il But the direc-
tors would not be taught: 40 they hunted up
Snowman, and having exhausted their own stoc