The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-07-18

CknuCbs IsVOAo AsSve NVWoJ VIC ~ AVA vSAA
has exploded, the fancies ere nowhere, Wall |
street Ii becoming sober after 1T II delirium
tremens which might have been more disas-
trous. Breadstuffs and provisions are exoes-
siyely high-the war in Europe renders the
money market and the cotton trade subject TO
its fuGauations-the Nebraska question has re-
awakened o the fanaticism and revolutionary
vengeance Of the North, and reciprocal spirit Of
bitterness and dstrust In the South. Then, again,
the lists Of passengers Of the Collins and Cunard
steamers and of the Havre line, show an increase
Of our summer visiters to Europe, deducted
from those classes who have exhausted the
froth and drcgs Of Saratoga, Newport and
Niagara, and who have yet house up town,
| and some of the profits of successful specula-
tons and stock, iobbing to spare These, all
these, are among the more prominent Causes Of
the tremendous falling of this year, as com
pared with the last, in the visiters to New York,
and our Northern summer caravanseries Of
fashion, its follies and its false pretences.
There is yet another cause for this reduction
in our summer migrations, which we cannot
overlook. The cholera prevails in the North
and in the West, especially at AL the prominent
cities and towns Of the seaboard, the great lakes
and the st. Lawrence, while the extreme South
and the rural districts Of all the interior of the
country ore wholly, or almost entirely exempt.
Its existence at the great centres and salient
joints of our Northern lines Of travel-from
Philadelphia to Bosten, and from Quebec to
| Chicago and st. Louis--is doubtless acting as
blockade to vast amount of passenger
traffic. which would otherwise be on the wing.
We have reason to hope that the disease has
reached its maximum, here and elsewhere,
and that our next reports Of mortality
will show general decline in the mum.
bers of its victims; but any relief now
from this source will come too late to save the
season at our hotels and the watering places.
1t is too late to hope for the rush, the crush
and the flush Of 1858, OF. ything like it. The
fall trade may enliven, to some extent, Broad
| way and our hotels; but our Northern watering
places, we apprehend, excepting their local GUS
tom, can hope for nothing Of the grand harvest of
1858 till the year 1855, or the Presidential year
| Of 1856
Excessive mutations produce corresponding
reactions The speculations, and stock. iobbing,
and gambling and swindling operations of 1853
are, under this infexible law brought to some
thing of q stand-still in 1854. And it is useless
I to calculate again upon the attractions of such
another humbug as the Crystal Palace, super
| added to the yellow fever panic in the South
The lion has ceased TO roar. the panic is re-
versed, and bills falling due must be paid, or
| there will be a general crash. In this state of
things we would advise the sensible readers of
the HERALD to eschew the foibles and fummer-
to distyust all stockholders and SPECTATORS,
and gamblers and swindlers, and to be ready
for the chances of.the fall business
WHAT THEY THINK OF New YORK IN THE
WEsr.-The st. Louis Republican is very Sc
we're on us after abiding to the Schuyler
swindle and its contemporaries, it inquiries feel
ingly as there anybody in New York who is
honest?" If for New York the words "Wall
| street" had been substituted, We might have
had some hesitation in answering it; it may be
question whether any quality Of honesty will
stand the atmosphere of that region. Roguery
is certainly epidemic there. Small swindles
are always being practised under the shadow of
the Exchange; bogus companies got up, worth
| less stocks sold to fats, and lies told by the
bushel TO fitch mems money from their pockets,
Every now and then, the malady assumes the
shape Of plague, and bursts forth with such
violence rs to shock every one. The small
every day rogues then sink into insignifcance,
and actually seem honest by their contrast
with the leviathans Of knavery. Such a scene
was Witnessed in 1912, when few bank and
insurance Offices helped themselves to couple
of millions Of dollars by issuing spurious stock
and falsifying their books. The following we
believe are the igures:--
I lsvs Scnnykili Bank false stock ST. 900, 600
Schermcrhon Ocean lnsur Co., false entries 10000
Redheld Commercial Bank, false entries .... 10000
Newcomb Manhattan Bank false entries. $4,000
io,a.''.,... ''..................$ 1888, 600
We have made progress since then: the over
issues which have come to light within the past
month represent a par value Of some twelve
millions of dollars, and must have melted their
perpetrators something like half that sum-
This will probably suffice for the presents ten
I or twelve years hence, we shall require another
development, and the sum stolen will then
bear the same proportion to twelve millions 3
| that does to the swindle OF 1872
| We have no intention to assume the defence
| Of New York: but we think some distinctions
must be drawn which the ST. Louis paper has
| omitted. Schuyler's frauds are as fairly
chargeablc on Connecticut as New York. A
share of the odium resulting from the Parker
Vein expose ought TO fall on Maryland. The
Vermont Central frauds belong wholly to Bos-
ton; and they surpass all the others, inasmuch
as the offence was deliberately repeated by the
President after the detection of the first These
affairs have created more excitement here than |
elsewhere, because New York is the centre of |