The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-03-14


costly an institution, before they grant the
sum requested and continue its existence.
CURIOUS NEWS FROM NICARAGuA-WALL
STREET IN FERxENT.-Another and most
interesting phase of Nicaragua affairs has just
come to light; and Wall street has, in con-
sequence, been thrown into state of great
excitement. Five thousand shares of Transit
stock were sold yesterday, in q few hours, at
decline Of two to four cents! 1t was but q few
days ago that the agent of the Transit Compa-
ny in this city proudly and defantly asserted
that it derived its corporate powers from
the government of Nicaragua. Such was the
fact but now it seems by the news received by
the Prometheus at New Orleans that the Walk
er administration has seized the river boats
of the company, and given new charter to
some other party. What's in the wind?
1t has been obvious for two or three years
past that the Transit Company has exercised
something like absolute power In Nicaragua
ut aided the establishment there Of General
Misunderstanding to make use of him a. an
instrument to control the political government
of the State. Such were it's open avowals, and
it's corporate powers thus enlarged ad ayinit,ns
it was not extravaganza to estimate the origina-
ton Of another East India Company. Indeed,
with the exclusive right Of transit across the
country, and the exercise of the functions
of political government, there was much
reason to believe that a great and powerful
company could be formed which, in time, would
govern all Central America, and eclipse the
great commercial companies of Europe.
Well, what is the foundation of all this, and
why is it so? The fact is, the Nicaragua Tran
sit Company got charter from the Nicara-
guam government agreeing to pay certain
sums to the State for the extraordinary fran
chises conferred. The State was weak. 1t had
no money, no credit, and there was little in it
to be called government. The company
was therefore entirely safe to refuse to pay
the sums agreed upon in its act of incor
poration. This exemption soon grew into
right. Meanwhile General Walker made his
appearance and was hailed by the company,
and by its aid placed in power.
1t is now rumored in Wall street, based in
part on the news received yesterday, and gene
rally credited, that new concern, formed OF
leading men in this city and San Francisco,
are ready to meet the requirements of the
public by the establishment of another through
line to San Francisco, via Nicaragua If such
line is started it will benefit the travelling
community for little while by low fares, and
ruin those engaged in the enterprise; but there
is nothing like competition in new country,
and manifest destiny" must work itself out.
The Transit Company has been remarkable
concern even in this country-a kind of special,
self constituted institution, with all the powers
necessary for commercial success. 1t had ex
aercised absolute dominion in Nicaragua, which
promised to regenerate Central America, aud
was not disposed to be very closely guarded
in the United States 1t induced our admins
tration to lombard Grey town; upset Col Kin
ney in his Central American expedition; laid
the foundation Of stupendous commercial
company and has thrown Wall street into Pc
riodical excitements and convulsions.
1t may be refreshing to have a sensation in
Wall street, but what does it all meal? We
want light.