The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-06-27


lots under 81 s1x. Coffee WA nrm with moderate
saes, Sugars were soid 10 the extent Of Ss hhds
Caha muscovHcos 10 lots, gooe part rednisg al prices
given elsewhere. There freight Offering, and
amo1g the engagements SIC bids sugar Liverpool
at IS Cd and looo do to London a, rs Co. with en-
easemens of OF aad oil and tobacco given
elsewhere To Liverpool grain rosIn also taken
OF sEd In baIk ftr the former and Co. for the latter
The Gathering Eiemenss OF Grand EKplo-
siou-Signs or the Timcs.
Tel cald Of Fix SUMMERS tSat there lisa great
ship at sea, approaching dangerous coast, and
that while q heavy tempest is gathering in the
horizon behind her the whole ships crew are en-
joying grand csrousal, and then ask the little
student in natural philosophy what will be tie
probable fate OF this vessel and the answer will
he 'hat she must, sac will, be lost, with alI On
board financially considered, we, the Ameri-
can people, are in this exact situation, and tee
Jesuit must be the soma disastrous shipwreck,
ADD The dis.r,5ution Of the escaping passengers
and their savings among Zoe wrecksrs waiting
for toe spoils
The extracts which we puolish to-day in refe-
renee to the splendid oefacat;on Of the late Ohio
State Treasurer Gibson, furnish some interesting
additional facts in this case, and throw some light
upon the ruinous tendencies Of the times, of
which this Ohio emtazzlement is but specimen.
The Schuyler frauds we're the first important 6is-
coveriss Of this new epoch Of expectations, swim
dis forgeries and robberies But the Schuyler
business, although folio we'd by general panic and
Involving The ROBBERY of thcusards of honest aud
industrious people, had good effect in s-resting
for season the vicious speculative mania of that
day, aid in bringing banks, railroad companies,
6lanciers and VAL street job5ers Ct al sorts, for
time, within comparatively reasonable lu,its.
But the pscihcaton Of Europe, in the treaty Of
Paris, and the French Creoit Mcbilier, with the
fashions Ard ineries of the empire, have given en-
increased rncmentum to every species OF sp2cula-
ton and extravaganza on this side the water,
which there is nov but little reason to hope will
be arrested short Of q general collapse aud uni
yerssl financial revulsion and bankruptcy, as IN
1887. The Case Of Huntington, the fOrger With
bis fine women, Enc houses, fine furniture, blood
horses, &c, afford. shining example of our
fashionable extravagances Of this brilliant epoch
Of luxury, folly and roguery. The case of
Tuckermsn, Of Boston, Is We fear, out small
pattern Of railroad embegzlements and defcien-
cios compared with those which will Jet come to
light The Parker Vein bubble is bat one Of
class-for long catalogue Of such swindliug
coDspi-aciee great and email, exist, but have not
yet reached the point of explosion.
The case Of Gibson, Of Ohio, l. but ore in the
general classification of official conceptions and
public plundtr. Though il may cover million
compared with the supendous schedule Of spell
atioDs concocted by Mat;eson and ais co-labor-
ers and the lobby -mongers Of the last Congress.
In railroad lands paten. monorolies, contract
schemes. and what not, this schedule of projected
federal spcliations covered the handsome agere-
gate Of at least two hundred millions Of dollars
The same elements ard instruments Of corrup-
ton and spoliation exit, more or less, among the
officials ard their confederates Of every State aud
city OF the Union
The epidemic Of speculation, like the cholera, |
Develops variety Of kindred and subordinate
diseases, but all contributing to the general IA /
tally. The monthly millions poured into the |
Golfers of civilization from California and Aus
tralis have operated 10 the expansion Of sredits,
loans, mortgages and liabilities Of al kinds. 20 |,
the extent Of hundreds of millions, upon every
conceivable speculative, stockJobbng and swind-
ling experiment, from government plunder jols,
bogus minizg companies and bogus banks, TO
bogus railroad dividends and simple eInbczzle-
ments and forgcries.
What can b. the end Of al this hut
another general collapse like that Of 1881, only
upon much grander scsles Tho samo Fremont
tory symptoms tina; prevailed In 1856 prevail
In 1851 in tonfold degree. Government spo-
liations. public dcfaulters. paper bubbles Of AL
descriptions a general scramble for Western
lands and town and city sites millions Of dollars
made or borrowed expended in fine houses aud
raudy furniture; hundreds Of thousands in the
silly rvalries Of fashionable parvcnues, in silks,
lacts. diamonds and every variety of costly "trip
peIy are only few among the many crying evils
of the day. The worst Of all these evils Is the
moral pcstilcnce OF luxurious exemption from
honest labor which is injecting all classes of so
cicty The country merchant is becoming q city
stockjobber. and the honest country farmer has
gone off among the gamblers in Western lands
Thus, az this general scramble among all classes
10 bc rich AT once. and by The shortest possible
cut extends and increases, our rogues, defaulter-
and forgers are multiplied.
Against this prevailing prcssurc Of speculation
population. avaticc, extravaganza dissipation,
corruption and "noral insanity Il is idle now
to preach. The epidemic and its attending evils
must run their cour.- The wiz man. however
will see that We are only sowing the wind to reap
the wliflviDd and will trim hi sails accordingly
W. con only admonsh him that from all the
signs of the times financial, political, moral and
socal-thcre is a tempest gathering in the hor
zon which, before or with the ncu Presidential