The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-11-21

manency inseed OIL tostern8 ma encouraging speculA
ton, placed every obstacle In S progress knowing
that the propenses Of people to much in a.
Of blind reckless desperate projects, rather than
those Of more legitimate reasonable steady permanent
character but nothing could do Of sucent force
influence prevent collapse in the financial world
We did not expect to be successful In doing but we
hoped II might be mtigated ana its disastrous effects
essened, and the probability is that our anticpatons
will be realized.
Since it became evident that the revulsion upon
ushat the collapse had commenced became duty
to limit its effects AMI possible prevent Of those
commissions which haze occasionally swept over the
country and Frustrated for years every interest and
nearly annihilated our When everything
inflated and al were apparently in the enjoyment Of the
greatest prosperity it well enough to sound the
alarm but that all are in trouble surrounded with
embarrassments and difficulties, it is necessary that
something should be done to arrest the panic and If
possible prevent total destruction of confidence. We
have very sick to take Of and must apply
the proper remedies The patient is reduced to very
low stage of debility and requires restoratives From
dangerous Plethora he has been reduced almost to
helpessness and must have good care It is not the
time now show how he became SICK and to scold
him for his designations extravagances and high living,
but to bring about healthy action again, and then talk
to him seriously about the future.
The present state OF financial affairs may be much i'm
proved by the public mind avoiding all undue excite
ment and keeping free from panics The failures at the
West are the result Of most rapid increase Of banks
and imitation Of paper currency 1t was carried TO an
extent far beyond the wants of the community In m
incredibly short space Of time 1t fortunately had not
been carried long enough to have involved the people
in many wild schemes Of speculation, and the c9apse
has therefore been confined in its effects to tho rites
directly interested. Another and better currency win
supply the place Of that forcbly withdrawn and short
time suffice to renstate confidence and remove the diff
cules experienced. The passage Of an act in several
States within the past few years. prohibiting the issue
and circulation Of small bills, has improved the cur
rency Of those States that have fear Of trouble
among those banks and hope the result of the bank
ing operations in Indiana and Illinois will induce the
Legislatures Of those States to adopt similar laws rela
tive to the issue and circulation Of small bank notes
The application of such remedy would be immediate
in its favorable influences
the report Of the president and directors Of the
Wilmington and Raleigh Railroad Company, We learn
that the gross receipts for the past year have been
$4s2 $50 So; expenditures, 1921 go 49, net profits,
$l9155 So from which deduct interest and exchange
sos H. and there is left net profits to stockhold
ers 1927 s62 II. The liabilities Of the company the
LIST of October were 81, o52, 070 Al.
The entire receipts of the Raleigh and CASTOR Railroad
Company for the year ending Goth September 1854 have
been S23S, 40 81. The entire expenditures on all
counts including dividend, were $159,70l s7-leaying
$7s7Os "a The receipts from freight passengers and
mail sl73 ~ and the current expenses $50
90, showing profit the years business Of $103S
81, or over 1oK per cent
correspondent of the Boston Post writing from Para,
Brazil, under date Of September II, says
The American commerce of Para will this year reach
about Eve millions Of dollars, one-third of the whole
of Para and of this great valley This
consists too in article whose demand is every
day rapidly increasng so much So that instead Of Eve
millions il must very be twenty millions. Nor is it
less interesting fact that four ths Of all the rubber
produced here Is manufactured in the United States and
that the whole increase Of its trade il properly conduct
ed will yield vast wealth to hundreds engaged in the
manufacture and sale Of these rubber goods in the
United States.
The annexed statement exhibits the average daily
dton Of the leading departments of the banks Of this
city during the week ending Saturday morning the 18th
Of November, 1851