The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-11-09


10 eno more than 20 per cent OF their value
on railway securities, continue TO advance rs
much as 40 per cent on the rentes. Their
wish TO aid the remaining payments on me last loan
existing dangerous tension Of the French credit sys
tenn, and the absolute Necessity OF rigid restriction
IN every Quarter, we cannot help viewing a. mis-
take. But after all, the most disquietlng feature
presented by the Bank Of France accounts is the
rious decline in the bullion. This item Is now
f2 100 less than in October 1865, when the bank
Obliged to adopt measures Of restriction anolo-
gous 10 those just enforced.
The best friends to France and to the financial and
political repose OF Europe they who persevsre in
pressing upon pnblic attention the imperative No.
sty Of extreme caution, the only course calculated
10 enable the French nation to pass safely through
the present ordeal. One OF the most important fea
lures Of the crisis consists in the fact that stop
cannot be put suddenly to the rapidly revolving
whesl Of speculation. The vast works to which the
French government and capitalists have committed
themselves cannot be altogether suspended now that
the Immediate evils resulting from their multiplied
ton have become anparenl Tie announcement.
recently made IN Paris. OF calls to the amount Of
some Ct 500 900 sterling upon the shars Of the
French austrian Railway Company, illustrates the
manner in which the foreign engagements OF the
country will continue for considerable period to
Emulate the efiux OF specie. At home, too, most of
the'multiiarions railway and other works lately
ered upon must OF necessity be continued for ctaer
wise they will remain utterly unproductiye. At
time when the Bonrse is subject to prolonged depres
railway companies are stated to be running short OF
funds necessary for he completion of extension lines
Ii is reported that unless the money market
should improve, as to enable the Eastern Railway
Company OF France to place large issue OF fresh
bonds, this company will be compelled to apply to
the construction of che works on the Mulhouse line
the net receipts of the original railway. to which
the shai eholGers of course look for their dividends
And yet, bile the calls upon the French money
market are thus heavy and continuous, the Credit
Mobilisr Society is still offering to cover Russia with
network Of railways, the ultimate cost OF which
will probably exceed sixty millions sterng and
the Spanish Credit Mobilier, an ofshoos OF the Pa
ris gambling house, is entering into contracts for an
important extension of the Spanish rail way system.
Believing, as we do, that Europe has already under
taken more public works than can he executed with
out further pressure, IL is essential that the
attempts u the French premium hunters should be
met by a word OF warning Let us hope that the
Emperor will be wise in time, and adopt measures
for efectually checking the improyident engage
mepts OF the monster gambling house OF the Place
Vendome.
The African Slave Trade OF Neyy-York-yes.
sells for Cuba.
TErom the London Herald Oct "a
According to our well informed contemporary the
slave Il ade of Cubs is flourshing in full vigor,
10 less than Is vessels having sailed from New York
for tie Of Africa hin the last twelve mouths,
for he well known purpose OF transporting slaves
to Cuba in addition to other vessels that have been
di: patched from New Orleans and other ports OF the
Union fer like ineligible destination.
When the Slave Sugar bill of ls4G was being
urged through Parliament. we think we have some
recollection of Lord Clarendon imploring the
Loids TO pass the bill for the sake of the beneficial
effect which it was to baye on the slave trade. The
act was passed, and without now arguing the ques-
ton, most people who take an interest IL the ques-
ton can be at no loss to form their own opinion Of
the effects of the act from the facts which are before
them.
Freedom Of trade and political economy i.
was argued by Other great authorities, required an
pnactn eut ot eucl law.
For ourselves we have high respect for some Of
the rules of political economy, as these have been
expoupded to us hy the ingenious philosophy OF
Adam smith, Ricardo and Mill: but we have yet to
learn that any of these authorities ever uttered
word TO justly the principle o. the objects OF such
q measure as the Slave Sugar bill OF lst6. But
even bad the case been otherwise we should stu
venture to doubt whether to ret aside the laws OF
nal justice when they come in conflict with the
dogmas OF economy be wise or safe proceeding, OF
one calculated in the end to enrich any more than
exott a nation.
Statistics, we know are rot wanting TO prove to
you BY figures and tables how much England has
been gamer In pecuniary point OF view, BY the
process In question. We must say that we have no
faith In the problem, and doubt the tables, and are
slow to believe that nation any more than an indi-
yioua can be very surely enriched, in bold defiance
OF the laws of justice, and by the determined
founding Of right and wrong.
But for the present. We ask, are there no treaties
with Spain or with the United States, by which the
crime OF tearing men by force from country and
kinored roDbing them of the freedom which their
Creator bas given them and tn ning them in this
Diee.eenth century into beasts Of burden for the
sake OF cro sing sugar ana co ton cheap can be
Gealt with as il mel its What has become OF the
fright of search OF which we were accustomed 10
hear so muehi What OF q vote OF the House OF
Commons which declared slave trade 20 be piracy
Has England lost her navy. or her tars the power
10 enforce a naval block sde. II that stern instru
nent Of light were powerful in Brazil i there an
reason 70 doubt its potency for the like results on
the coasts Of Cuba
One of the Repentants of Iearia.
The IMMORAL de Ia Loire publishes Tie following
letter from Frenchman, named Prudent, native
of Gsors Who allowed himself 10 be led away by
the decetlul theories OF communism. and went 70
Icaria with NJ. CADET. This letter, which i dated
from Nsuvoo 10th Sept will tend to prey emit fresh
dupes 20 that doctrine:-
Alter eight years OF a wrctched NE, tue vict
nj this colony n length rcvolted, aud aFe ps CADET has
no longer with him any bet followers VINO will remain
fathfcl 10 him long any moncy remains 10 hs
hands. The Icarisns divided into two camps ma
jorty and minority reds and whites. The reds uhe
Majority against n. CADET whilst the whites hi
satellites The two parties do no seek 10 TO
d. rtiandDg but 70 ruin each other The minority have
organized themselves INTO band OF robbers, and wish
the majority 10 support them By their abor When
they are told 10 work Ike others they excam and de-
clare that they are oppressed, NJ. CADET, not con
tent with TIE 1!ieen hundred victims whom he Ia IN
duosd psir'a,e themselves, oonunues By his
lars and his pamphlets 10 appeal 70 the purses Of
such, Of his partisans a. remain In France. and
calls 90 them 70 aocs 10 Ioarla II IL with he dona.
which he receives that he supports his party HI
thsrio, all has bes outlay without return. and vii be
imposs bie for BIN t. give satisfactory account
The isbulous be has swallowed up 600 oCof) and
the whole Of which he owes 10 the unit r. 1nae persons
who followed bin. All this has been got rid o. without
reckoning our furniture clothes and erelry al
Of which weak enough 10 give up 70 him before
departure. last words Last touch Of tie pencH
this true account Of haria ! resume my pen alter q
days lahor In digging potatoes, work which y per.
formed With spade In the hand and musktt nj our
back IN order 70 protect ourselves from the ATTACKS of
the Dority This crop IL pledge for creditors.
We 100 000f Such Is the balance sheet Of the soci
In addition. at times end ursei, 20 threatened
with erurt from the ndinns and we are compelled
10 be on the watch day and night
n pr,,deni ada In cor cInsinn. that he and hi.