The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-11-04

Of Adams and Leveier dscov Of the planet sep
Wheststone stands prominently a. one OF The
three four which have been chiefly mixed up with
Dane is mot for US 70 say 10 whom the palm should
be assigned II may be that one has been more
ed In evolving the theory the other IN applying il in
spoke with the utmost mooesty Of his own share IN the
invention, which be described as the application OF the
escsvery 70 the practical purposes OF life We might,
perhaps have desired warmer words Of praise for
the original discovers than the foowing-"han 10 but
an instrument Q, o. ne VIII u,ni aus m'ss S no
and he THUG indicates his purpose TO have IT, II
10 surely sufficient honor for any man that he
which he may be appointed by such head in great
beDefaction TO Me world " But, though We miss the
the merits Of Professor Morse. The guest the Albion
Saturday last has deserved well Of the world, and in
human progress We rejoice Eng gland and America
uDhed 10 project SO honorable TO both nations, and we
applaud this generous rivalry which expends t energies
Tor the interests OF peace In the attempt which We can
not doubt viii be successful 10 link together two CONT
nents We with Professor Morse when he observes
that the effects Of this marvellous discovery and Of It's
application both 10 political and commercial sense,
incscuabe. We await with impstence the co npleton
o. our own Indian lines Of telegraph ana Of their con:
the Csnadas with the British Isles is but the affair Of
few months. nor need we despair Of ultimately seeing
the extension Of the sy stem TO Australian colonies
Then indeed The British dominons will concentrated
into one vast who.e The guiding thought which has
all moro swiftly than the red reflection OF beac ns
wbe bore across the Egean the tardy intelligence of
captured Troy 70 the weary watcher At Agamemnon's
home
The War or Louis Napoleon Against the
"Money Power" OF Europe.
from the London Chronicle, Oct. Al
There has been the usual amount Of gross exaggeraton
10 all that has en- wrtteo OF late on the subject OF an
impe ndipg monetary crisis In France Although not
given 10 mputng motives. feel bound to suggest
OF those which might have Influenced the propagaOrs Of
Emperor NAPOLEON
among his other claims 70 be considered the OF his
age, has organized resistance TO what s popularity
known az the "money power" which had been para.
mount In the previous reign, meDacDg with subsection,
and with an equal slavery both the monarchs and the
been made the stalking horse Of sordd and designing
men, intent alone on the Improvement OF their own for
tunes but his principle far good that tended to
the paons Europe position which they
were fast iapg-tha OF beng the mere sers Of the
G Inc momentum gwen 70 me new system BY
the part of those whose giant monopoly was thus assaed
but nothing more natural than that they should watch
TOR The earliest opportunity to take their revenge This
they calculate 70 do and yet not orego their profits be-
cause would appear easy 10 create panic and depress
public securities 70 the point necessary for the condemna
lion OF the system yet step and purchase
longer continuance Of disaster might threaten the foun
dataon o, the existing regime With such
small scale the monetary world familiar their ex
pansion TO the mperilng OF an empire would be mere
imagination and scientific courage Of the fnanciers Of this
On the present OCCASION however, they have reck
oned rashy - the result viii show although in the
meantime there may arise fluctuations and vcisstudes
and the Fictitious value OF many securities may suffer
depreciation.
| character Of the Emperor, that he would resoutey
refuse to suspend specie payments Il, in the
autumn OF ls47, the Bri,ish government con.emplat
ruptcy, rather than yield an ota Of principle tho
least that the present ruler Of France could do to
initiate 80 bold an example, In the face, not OF an i'm
pending catastrophe, but OF sl possibility. the
Emperor has Disseminated between accidental pres
sure the Bank of France proceeding from specific
and well cause, OF those the
history OF nations which justify the application Of desps
rate remedies. He probably taken clearer view Of
the ourbnd apprehension Of those who nnab the lower
regions OF the political or the financial world great
outcry for instance has been raised and still kept up
against the institution known ~ the Credit Mooer; but
as sua there is gross exageeration, both 70 the
nothing compared with tho gross transactions Of
The French monetary world and In character they
about 70 enter into a controversy with those who pre-
dict nom that company's proceedings the downfall Of
ne present prosperous ss.te o. things 10 france Ca
as is the case In American view Of the Boursc opera
lion, Of Parts, which We published Yesterday. Thus il
has been with the commentaries the great Institution
which designed 10 aid industry Ia its struggle with
capital One remarkable feature In the crusade against
that undertaking, the total absence Of the facts which
necessary sustain the diArbes OF Its opponents
Yet It's operations be carefully examined and the value
OF is tributary feeders weighed, WIN be found that
there wide margin OF sound and justnabIe premium
between the present market prices and the original
amount of the shares n,o which the several companies
are divided. The French Law, ana the French admins
trative system, much more striet than II DO
theoretically an evil that the government should directly
capital II is satisfaction 10 know that In France tbs
frauds or the folics are impossible the discovery Of
which has % often sent the shares Of public compA
mics to . ruinous discount from fai scious premium.
We are notoriousiy alive TO the faults OF our seehbors
and conveniently blind 70 our own You cannot for
stance, more enectuay hatter the national vanity Of
Enslshman than BY denouncing the principle OF 60
vernment: iniererence. In all ages We have rebclled
against every kind OF discipline and have glored In the
confusion created by inusctability Architecture
without plan character-strces laid out with daring
defiance Of the useful ~ well the ornamentAl-A L.
mes-railways constructed on the lowest principles Of
competition, and Al an expense rendering thai competi
ton ultimately infrucsuous TO the public good-the prin
cple Of interference carried the extent or
stoutiy maintaining for The people The liberty 70 arve
constitutional Impotence OF all system an suhori
I ~, Hence readiness 10 believe any amount Of
cipies. Tue French are the especial Ip victims Of
these our unamiable propcnStics. Grave mon
be found who WIN toll you ina, the prcssn, cmsar
easements In Paris are owing 10 the building Of tho Rue
do Rivol and that the empire menaced with subver.
sion, because some thousands Of worhmen have at
t,acted 10 the capital where lodgings and food artn
ciay dear. Member The the other 10 dear as
m London, where TOO, the facilities OF enjoy meut for
eensured because Il s.: aided The manc
pay OF Paris In erecting the uagniacent streets which
have made the most beautiful capital In the world and
also because sanctioned the arrangement between the
city and the poorer classes, BY which average price
Of bread Was ensured, whether In cheap dear
~ v
these and cognaie TOPICS except the known crcduy
Of our good counirymcn on foreign quesoons and their
unlimited capacity for scandal against their neghbofs
There Is nothing in The present state Of france or Of s
monetary AFFAIRS that need alarm for future
reaction against excessive speculation TO have been
anticipated and every wise precauson had been
by the authorities. Every other rround which ex
Dtng Ttmc could be attacked with any prospect Of
shaking has been tried without success. There re
NAMED the financial condition 6 the country and the
probability OF collapse from . state Of prosperity which
might well be too recent 10 be sornd. Upon these Wig
orous onslaught has been made assisted by the sudden
demand for silver, which OF course must dsranse for
considerable time the operations OF the Bank OF France
Considering the concurrent motives 70 panic and the
thcia price TO which many securities have riecn the
wonder "a that more fatal consequences have not
sued. With . very Characteristic obtusencss, the
English doSot how slight the shock n by oompaxisoo
vth that Sustained by their own commercial and none
tary system from lsl5 " ls4T they perceive that
in theory government suerfeccnce be wrong In prNc.
uce may be beneficial AZ the present crisis the
hdepce reposed the Emperor by the nation and their
knowledge that he win hesitate 81 nothing which may
the State, tend very much 10 uanquilze public
"A al, It,