The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-07-15

although Bohemian in its origin. bids fair to
be strictly applicable to the financial circles of
our city. When the members Of railway boards
and banking firms stoop to the commission OF
offences which differ in nothing but their enor-
nifty from the vulgar crimes that fill our jails
and renitentaries, it is time for us to scrutinze
jealoufly the company into which we happen to
fall. Wall street is so rapidly acquiring the
infamous notoriety that formerly marked ou
as infected localities the Cour de Miracles and
Little Britain, that it will soon be dangerous
for en- honest man even to stray accidentally
| into it. Ii he does not lose his money there he
is almost certain to lose his reputation, for, as
the proverb above quoted says, "When the cry
of thief is raised, every body takes to bis heels"
II things 60 on at this rate we shall becom,
disciples Of Diogenes, and seek for honesty in
those dreary abodes of misery and reputed
vice which have hitherto afforded such fruitful
themes to pulling moralists and tract distribr |.
ing old maids. Talk Of the Five Points, Water
street, and the Hook Why they sink into 1
significance beside the hugher rascality and ,
pravity Of Wall street Perhaps the exact d !.
milton Of the moral difference that exists between
them, is that the inhabitants of the former steal
loaf to keep body and soul together, whilst
that of the latter unscrupulously plumber a
whole communicable superanuated citizen
the friendless widow, and the unprotected
orphan-to crafty their luxurious tastes, or
perhaps their vicious appetites. In the measure
of moral guilt there can be no comparison
between the gigantic frauds of the Wall street
brigand and the petty larceny exploits Of the
shirtless shoeless and vagabond denizen Of the
Five Points. And therefore it is we presume
that the justice Of man allows the greater
criminal to 60 UNPUBLISHED, whilst the compare
| lively venial offences Of the starving wretch,
who is, perhaps, more sinned against than sim
ing, are visited with all the discriminating
severity of an impartial CODE
And what comfortable and edifying reaec-
ton it is for those who have been all their lives
struggling, by dint of untiring industry TO
raise themselves to the level of what, in New
York, is called aristocratic society, but whict
is in reality nothing more than vulgar aud
| purse-proud ostentation, to find their illusions
at once dispelled by such astounding facts as
| are daily Transporting in the financial world !!
How agreeable for the well-meaning but am.
bilious class OF small minds, of which the
Potiphars are such excellent types, to find
that their gods are, after all, only made OF
clay, and that the fruits of their toadyism
have turned to ashes What shock it
must be TO the moral sense of such
people to discover that they have been wor-
shipping at the shrines Of imposture and licking
the dust at the feet Of idols that turn ont to be
nothing but cheats. Even the blunt percep.
tions of Mrs. Potiphar must feel revolted 1T
having been associated with hospitalities the
expenses of which have been defray red by whole
sale population, and which have been brought
t an unexpected and disgraceful close by q
visit from the Chief Of Police.
| There is unfortunately no exaggeration in
this picture. We found the satire ready drawn
to our hands, and we but point to the further
illustrations il is daily receiving An occasion
al deviation in the upper ranks Of life from the
paths Of honesty and rectitude, proves only the
defects Of individual training; but their frequent
and unblushing repetition in quarters where
the pressure Of want affords no palli alton for
the offence. argues corrupt and demoralized
state Of society generally. II has not been our
fault that the causes which have brought about
this relaxation in public morals have not been
long ago arrested. We have neglected no op-
portunity of calling attention to the calamitous
| effects that must follow from the taste of ex-
travagant expenditure in all the luxuries and
ostentatious vanitics Of life. which for
the last ten or fifteen years has been
hurrying the commercial classes o. our
| city into extremes that are net even
to lie witnessed in European communities. We
have shown that no condition Of trade, however
hourishing, could long support this tendency
and that, consequently. startling cases Of indi-
vidual dishonesty, and eventually something
like general bankruptcy, must inevitably he The
results. We have seen how alarmingly this
prediction has been partially verified within the
| last three weeks Disclosure after disclosure Of
gigantic frauds, committed by persons standing
high in the estimation of the community follow
each other in rapid succession. and public conf
man now views his neighbor with suspicion, and
character and standing are no longer deemed
| guarantees for commercial honesty. It il, In
fact, those who have been supposed to abound
most in grace that have soonest fallen into the
snsres Of the tempter.
In such state Of things it Is vain to seek for
remedy in any further appeals to the good
sense and correct feeling Of the classes who are
running this headlong race Of extravaganza and
profigate expenditure. We fear that many
more examples such as we recorded yesterday
and last week, must confirm the warnings we
have so frequently given them. before they are
recalled TO sense OF the dangers to which
they expose themselves. In the meanwhile,
the Legislature has a duty TO discharge,
which may contribute in some slight degree to
limit the extent 10 which the public have been