New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1856-10-15

IT,, ~. 90 rn,nns alresd, begin to ssk sberi-
ssaI,.s svsn he6re IN. head is cut Oh, whether
Bonsparte kas ever been zane. lhey Nn1~ 80
every marke. IL over-imPOfted; tha' ever!
Of the proprietary classes even tnoeo no. s ~
;nc..,.5 b.s bern drawn into the vortex OF ,he
- -. mania. that no European country bb
ls.aJ e,om Il. aud that the demands OF Govern.
.''oi ~ III tar having people have been stretched
o. ,ha last point In lS4S the movements "nlcn
move INN diaiely produced the Re' oiuton were I"
merely political character, such a. the reform pam
80 :, france the war Of the Sonderbund IN
SSt,s,Isnd the debates of the LIFTED Diet at Ber-
H., ,hs Spapi,h marriages, the tchleswig- Ho'steln
',,,r,sls Sr. and when It's soldiers, the working
49, Sc paris unclaimed the social character Of
,he Revolution Of Ie4s, its generals were as much
,atep by surprise az the rest Of the world. Now,
On The contrary, social revolution IL generally IN
derstood. even before the political revolution is
nroclsmed; and social revolution brought about
by no underground plots of the secret societies
nnorg the working classes, but by the public con-
triyapces of the Credits Mobiliers OF the ruling
classes. Thus the anxiety Of the upper classes III
Europe is enbit'ered by the conviction that their
yery victories over revolution have been but instru
mental in providing the material conditions in 1851
for the ideal tendencies Of lS4s. The whole epoch
from the middle of le49 down to the present APP
pears, then, as mere respite given by history to
Old European Society, in order 10 allow il last
condensed display If all its tendencies. Inpoitcs,
alteration Of the sword i'll morals, general cOrrup-
ton and bypocrltlcal return TO exploded superst-
tiOns; in political economy, the manla OF getting
rich without the pains Of produeiDg-such have
been the tendencies manifested 10y that society
during It's counter rev dictionary orgies OF 1879 90
On the ether hand, if We place side by
side The effect Of this short monetary panic
and the effect Of Mazzinlan and other proc:
lamaioDs, the whole history since lci9 OF
the decisions Of the official reyOlu'lOnlsts Ia
at once deprived Of its mysteries. They know
nothing Of the economical life of peoples they KNOW
nOfhiDg Of the real conditions of historical move
ment, and when the new revolution sha break out
they will have better right Than Plate u wash
their hands and protest that they are innocent OF
the blood shed.
We have said that the present monetary pane III
Europe made It's appearance first III Germany, ana
this circumstance has been hit upon by the Journals
Of BOnapsre TO exculpate his regime fr0nhthe suS-
picion oi having had the least share III preclpltatng
IT, Government" says the Paris Constitutional,
" has endeayored TO moderate tie spirit of enter
prise after the conclusion OF peace, by adj
"iCurhing several new concessions and by forbid
/" ding the introduction Of new schemes on the
Bourse. Unfortunately il could do no more; 1t
could not prevent all excuses Now, whence did
tLey proceed If a part was generated IN the
French market, it was certainly the smaller por-
L" ton. Our railway companies, from spirit Of
y,
the proceeds of which were destined to extend
the branch lines. But this would not have ere
" ated embarrassment but for the mass OF foreign
enterprise suddenly sprung into life. Germany
above all, which had taken no part Ill the war;
" threw itself recklessy into schemes of all kinds
Not possessing sufficient resources itself, 1t APP
peaed To ours, and as the official market was
"clOed 10 it, our spectators opened TO II the Cou
"lisse France, therefore, became the center of
cosmopolitan projects which might enrich foreign
countries at the expense Of national interests.
Capital became, in consequence, rare on our mar
" kei, and our securities, meeting with fewer buy
GERS, suffered that depreciation which, in the
presence of so many elements of wealth and pros
"perity, astonisLes the public Having given this
specimen OF imperial official nonsense on the causes
of the European panic, We cannot Withhold an e1-
ample also of the sort Of opposition tolerated un-
der Bonaparte. 1.-The existence of a crisis
say the assemble NatiOnate, "may be denied, but
ave Cannot help thinking that prosperity Is some
"w what on the wane, when We consider the recent
falling off in the receipts Of our railways in the
L" amount OF Bank advances on commercial bills,
ard in The duties on expectation levied during the
" first seven months OF the year, which exhibit
decline If twenty five millions Of francs.
LII Germany, then, all the active part of the mid
die classes have ever since the counter-re'oluton
of 1Si9 devoted their energies 10 commercial and
industrial enterprise, the thinking part of the
nation have abandoned philosophy for the natural
sciences. The Germans, neutral IN the war, have
accumulated as much more capital as their French
neichbors sank in the war. Finding them in this
position, with rapidly progressing industry and
IN accumulation of capital, the French Credit
Mober Condescended 10 notice them a. being mt
subjects for its operstiOns-thc passive alliance be-
w cen oIaparte and Austria having already drawn
lis attention to the unt xpored regions OF Austria,
Hungary and Italy. However, having set the ex-
ample and taken the initiative OF speculation IN Ger
MANY. the Credit Motiier ;tseU was startled at the
unexpected crop of kjobbing and credit iitItu
tons generated by its impulse. The Germans OF
1s55-s6 received the sw inde-constitutons OF the
French Credits Mobiliers as dry-cut as the Germans
Of 1881 had received the political constitutions OF
France. Thus, a Frenchman of the seventeenth
century would behold with establishment the Court
of Louis NV reproduced hundred-told grander
an TIE other side of the Rhine and
thus tie Freuchmen of the last decennium
were surprised to behold in Germany sxty-two ns-
tjonal assemblies where they had with so much
trouble produced one. Germany is not land OF
decentralization after all; only Capitalization Itself
is decentIalized 50 that instead Of one there exist
n great many centers. Such country. then, was
quite fit 10 develop in the shortest time and Ill
every direction the cOntriyanccs taught II BY the
Credit Mobilier, just as Paris fashions are sooner
circulated in Germany than in France. This Is
the immediate cause Of the panic having made lis
first and most videly-spread appearance IN Ger
many We shall give the history of the panic Itself,
as we'll MS lis immediate causes, III a future artcI'