The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-04-20


Of q rare era Of fruitful peace. Ever since
the capture of Sebastopol the tide Of public
opinion in France has set in strongly toward
peace-not because the objects Of the war
were regarded as attained, but because the
public generally desired to trade and make
money. France has seen many eras Of stock
joboipg; but the one which was coevai
bilir, and which, partially interrupted
by the war, is now bursting forth with
increased and unexsmpled force, will pro-
badly leave far behind the famous eras Of
the speculator Law and the Rue Quincanpoix.
An idea of the extent of the mania may be
formed from the fact that it is understood the
treaty of peace was signed on Sunday, in order
that the spectators should not turn the news
to improper account.
There is no reason, of course, why trade
should not flourish in Europe, aud with it, OF
course, its necessary accompaniments OF gam
bling in the large cities. Ii the French wis
give up soldering, and the Germans beer
drinking and philosophizing, and take to pro-
ductive labor /; ii the English will try to tura
to some better account the labor which they
misuae in their factories, it is obvious that
the opening of these new Danubian and Mad'.
terranean countries will afford all the ad1l
tionxl demand that is wanted. and com
MERGE and industry may receive seusi-
BILE extension. Nor is there any moca'
reason why these things should not b.
done. Political economy has made vast strides
since free trade was Incorporated into the Bri-
tish system. Louis Napoleon is beyond all
comparison an ADLER economist and dnalcier
than his predecessors Turkey is ready Tor
trade, and 80 is Austria. American example,
Europeans may say what they like, has not
been thrown away upon Germany or it's neigh
bors With the SINGLE exception Of Spain per-
haps, every country ia Europe Is inhabited oy
people who become valuable aud pr0du:tiv.
citizens here, and who, OF course, would do
the same there If the laws and the government.
gave them the same chance. Nov, too, tue
cessation of hosti'ities will throw into tue mar
Ret large quantity OF labor which only needs
skill and science to be converted into wealth.
These Crimean armies are worth hundred
dollars head per aunum; or they would oe,
if they were used properly. There is, therefore,
no reason why there should not be large and
solid increase in the trade of Europe.
But are the French and other Europeans
taking the right steps to avail themselves Of
their prospects? Letters tell US that anything
like the rage for speculation now existing a.
Paris was never seen before. Companies ara
hair for col "a.
bilious capitals are being advertised; every
man one meets has scrip to sell, or wants to
buy. 1t lie, in fact the old story over again,
only intensified by the natural exhilar alton
felt at the prospect of peace. The cr5dI mo-
bilier- that gigantic blunder whose success
depends upon the fallacy that men will
manage better for others than they can do for
themselves-is in everything 1t owns banks
and ships; lets out omnlbuses IN London, and
supplies provincial towns with gas; takes con-
tracts for carrying the mail on the Mediterra-
mean, builds telegraphs in Turkey, and talka
it is said, of building an interoceanic railroad
across Honduras. There is nothing too vast
or too small, or too remote, for its attention.
And it is the type of the companies which are
being formed at the hour we write in Paris,
Vienna, Berlin, ST. Petersburg, Constantinople
and London by the hundred. 1t is vain to hope
for solid wealth from such enterprises. A cor
porate body has no advantage over an indi-
vidual but its presumed superior wealth. That,
in Europe, cannot always be predicated With
certainty And the corporation labors under
the unparalleled disadvantage that its execu-
tive has interests diverse from and often an
tagonistic to its own, while the individual, if
he have ability at all, is at least not his own
enemy. Corporations may be necessary 10
every country, but they are an evil they may
subserve for a time a useful purpose more
safely to the community than individuals, but
they never can be the parents Of national
wealth.
As peace unlocks the treasures in Europe.
and wealth resumes its flow into the old chan
nels, the French must not expect to retain it
at home. Money must find its level; aud 50
long as 1t is worth eight per cent here, it can
not long be held at four in Paris If the peace
be lasting, and no breach Of faith or political
CONFUSION in this county impair our national
credit, the money which is essential to the
success of the present French schemes will
come here. We shall reap the profit of the
peace. And unless we follow the foolish ex
ample of our neighbors, our gains will be the
only solid ones.
RECEPTION OF Mr.. BUcHANAN.--The Board OF
Aldermen on Friday evening concurred in
the resolution to tender Mr.. Buchanan the hos
FATALITIES Of the city, and voted thousand dol
lars to pay the expenses. This may De cons-
dered as proper act of courtesy to faithful
ambassador returning from the delicate duties
of most important mission; but the move
ment has wider Specification, as we shall sac
on the occasion of Mr.. Buchanans reception.
lie was to have sailed from Hsvre in the Ara
60, on the 9th instant and We may, therefore,
looly for h;a arrival IN Thuradav or Eridoy