The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-10-27


cause some duilnsss in our markets. and deshne IN
ihoee articles OF wb stocks large. The mooey
market easter than ~ the commecccmeot Of tne week
and best bills q n,i'e under bank rates The
funds declined cent on the advance o. the
terms of discount but have siooe partially rallied.
lair business has been zone in American securities,
though in some instances ct q decline
from the London Times, Oct
The report OF the French Minister OF Finance is an
elaborate argument prove that state OF things which
exists ought exit II supposee either exuaordt
parry information ana discernment in the Minister
uaordirary ignorance toby in the French public In
this country receive with suspicion calculations at
variance with factor sitter I'LL the most import ant fact
ths question Is tue fact OF great wan, OF money aud
credit. We dom think everybody much IA the wrong
and one alone mucp In the right ii Aagne argues
from antecedeit mrtances that French conmcrce
ought 10 be the soundes possible condition. that the
balance Of usdr be IN Ersnce III there
ought be 500 Cos Oof goc and silver now IN TIC
country than there AS six years rgo-anc a good deA
10 this effect; hut api OF all these favorable
duons, there y COMMERCIAL crisis and most IA
mic. Wren ia SPIT. Of good air careful cet, pro
per exerc Sc healthy employ nent and everything 10
his favor is nevertheless al deaths toor bis must
be despe,Bte; and by common instinct hs trends set
their wits hod wbe he has not negiec
ca bis health IN some che particular or Other they
discover that be has ttey Immediately conceive hope a
his cure not they wholly despair Az all events they
don't cone 10 the snesrs bedside ana assure him tnet
he oug 10 be perfectly veil aad
Tor his agony There sre Indeed, oie ho will coat rt
a ps0s xcn nan IN s naI world 1sa. may ''t per
hBps be very wrong, bat - nos aa
ciual aosurouy irasmuch all the elements OF toe
question speculative ard tser- Is fact tor the con
Gibson 10 htaa asaint Bot Il i absurd 70 tell .
man be ought shc 70 walk and talk, and cat and
drink ana sep when be cannot for tue test s rresen
ana conciusivs-ne tries an' cannot n MtSue ne :
merely arEueJ From h would eventcsv
recover wuhaut the appcauo OF extraordinary aaa
juriors his night be enough for that
purpose We pCne q us kniw bow mat ers Will stand
year Tar hence; Dat tue Minister argues fhs'
there oua 10 ne urusua denand tor money 10 com
merclai rculty spproAch 10 panic the Act betng
that there is Tine fat oAnnot be disputed Aad as
Masne has put himself in oppoton to the fact nc mus
be wrong.
In this en- BAR bot o. dpsnoe bit OF reasoning
Basnc last a really dram st,c Elect
A is assigned which iasacQuAte AS i NAV b, 10
amount makes up or that wact oy rs novel, startling
and criminal Ia acter:-i YER esp cha iy has becon.
an object OF traffic ent TO public prioa
il 10 ucps from certain co ns their sur dos
value ihis sorting, which teads 10 Upset tue genera
equilibrium OF our monetary system was formerly COL
sioered deb AMI was Liable to very &C vere
punishment" Grant trs TO DC true Suppose the larger
coins 10 have been pcsed GU and melted dow, or
sssw eaeo clipped let tnem have gone through all
the trans migrans which silver rs capable Still II
in silver ard xbere Is Il? Nj az ha- been ,cet
Magne DIES not that has been az ported
he sas that there I ary decrease Of metallic
Circulation whai dc+- tni- n-w naitc come to- has
produced :. alarm - Taa is all toe matter, Magne
woulc bave believe III ere " AZ idle panic II II o.
So the French govern uen has not gone the way TO Hay
the visionary u for ridden money changers
10 advertise emiuin 10 stiver IT has FORBIDDEN 81
pubic discussion on ia. nnancnl crss Pants Is Asayr
mute iparnculale refuses TO hear rcasoa aIa hSs
none to otter There 10 only one wa7 70 cure H. sno
tina to obain ear 10 Ok it, attention, 10 reason
with it, inoace II to use It's. oFn raa
sonirg iacultes The French government his adopted
precisely contrary II Ia, issued oypsna
OF panic which sifirms to be ground as, bat
nevertheless impose check on be orinary trade Of
the noGey chsDger and silence on the publc q! large
This Is go little wat are accustomed 10 IN TINS corr
try that we car nIoly understand H. though We can lr.
derstand well enough why NJ Asgne shScld wish tc DC
secure from discussion coy We ealready, oog
ago repeatedly stated elsewhere what the Bauk az
to have taken 10 counieract real crisis Bat, Ike "
hssbe bes ruIea hnh,o that the crEis was Imaginary
and hence the imaginary Intellectual Character OF It's
remedies.
(From the Paris Cors titutonnci, Oct
The fall 10 the pubic funds he Minister OF finance
exclsius with iussice proceed. neither from want OF
confidence ror IRON tho om,ouon OF capital fra1ce,
not from sbteuce OF sodly ia the securities, bot ron
The multiplicity d the later. Whsn government afsi
hav,rg contracted he required for tie cxpead
OF the CrIuleIb war declared that sorld not ger.
mt any irerh erie prise To DC quoted on tne B,urse,
prudence moderation but unfortunately The INVITA-
ION was asceste1, perhaps II war net under
stood Speculation mae p otrcss new proleos we're
formed, and what II Sors~ France became the cen
tire 81 setis &C ctsrop titan A'mes, which
sere established wthout capital The limit OF tie
cRpSsaole resources IL our country was ihui passe
ard when tu~ SECURITIES Were THROWN on the
MARKET pIavoioabit expectation Of their re took
pace With esp, Ct monetary tney
proceed hxewi.e nom The exasgeraions Of speculation
Without doubt, The txp"tation OF p'cc.oas netals
vheh has isSen place u order 70 pey for the cora and
silk pusct Inroz has partially caused these euoAr
Bur the rarity ol n.liton has been produced
chtGy by the laGepee Of irs mass OF q pro cots aud
of psfcs eucy brs SAP peared bet he's
be- spread over The hume Gus workshops where p,bhe
uosk. are carried on
lsron HI Lo1doa Pot SEPT IL
The which urdertab y exist ID tne Tfsrsa
money ket D, and the sun sct OF ms.
Irescra'ien by enc class u re sons french credit
and nre ior a colapo Al any moneat-oy another
. fepresootsd cot only perfectly Tree from
danger; but , actually als%epans n strength ars
both these statements Tire arc aivocaics q otter
o. battes who Wild ,upport yihng that will oTerihro~
heposept There are rembapts 81 tue republic ever
xl0rs with both bands the oaUse a TIE en-
rye The 70 aim The existence o. evils
tacy csDuo, prove and be otaer to oeay advantage.
vEch they cvnot bit The least change In the
cuirtDf or the htes disturbance Z, The even low o.
public Affairs l. TIER ,pportuiuy Wnor france vc1. 10
begnii ing 10 ra~n Never suproeIg tha, France could
rsc TO pe occasion unner eny dynasty but Their
ss 9e'S DISASTERS s or y" and sey So
litioL disturbances that never took place. Events
de lot rsyor ihem and they are now qriei
again. The war DID not scvre their tutn - served
The turn Of Frapce-shich next 70 that Of the pubic
csuye Of Europe, xGs is legitimate result Ger own
share IN Il served our turn ana re- oce . tae srg
uie1 glory which has brought TO CIR naton
Thoroughly righteous 10 Is beginning. operation, aud
end has Injured zone BIT the aggressive Poser
Tier than endangered, Inc stability Of the french en-.
Pre-.
temporary tightening Of tue Paris money
market has opened CIT a vc.n Tor thoso 20
have al 70 gan and uaughi 70 lose By ary nskap
10 French crcoN. But though II would be absurd &C.
deny that the ighiDoss " while 4 asts, 4
would DO equally to conclude thar q argues a.
aueurs spy important disturbance Of tic public
Gn,nccs The public securities have certainly fallen
10 point than thcy any OF TIE great revolt
ton. those reyolufions bad been ought about br
tho ia OF pubic there world lie good vro I'd
for anxiety lest Ike should again proc ice q II
result But those disasters, every reader Q, history
knows bad their origus IN proyocators fundamentally
dlcrer aud the aud rot the consequences
Of The decline in the funus Those who do no, ~sh well
France tho empire may Their Ingenuity ;o
mako unavorablo q; but u any impartial looser
on OF ordinary yoscrs of compfelension, viii txsuinc
The depths of the subject BIO VIII that the present
state o. tho bsurse has 4 element Of cucr ItrmA
nent cmbarrVsm, ut % political anxiety.
u Simply question o tine. The causc and the
extent Of The ngrtici dslsite and eas tTaeeabe
In nry situated franco has been for TIC lssi ve
years. IL IN impossible that Periodical rancs should not
occur They happen undor our own ODD fasbiopef sys
m and In spite Of trot ways the mpeaeh
able stability Of our constitution Much n they
be lob "a Tor country whose uncyampled property
but from three years osck, Which Las jest come
throush Of infnppsc cost and has embarked u
enormous public works hot only n its bit other
countries II tho present pressure be more i,it Ia
France than the Ike Of Il would be IN Ingland, i
IL entirely Owing 70 tie difference Ia he basis &
pubic credit Here nearly al tie great works