The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-05-10
Financial Speculation I'm Russia and the Unit
Ell States-The Indiana Canal and the Rail-
way OF the Gar.

Financial Speculation In Russia and the Unit
Ell States-The Indiana Canal and the HALL.
way OF the Gar.
[From the London Times, April 2Sl
Strange to say-for il really is q fact, and re-
markable fact-that most eminently oredulous per
sonage, the Brti-h capitalist does not come forward
to SOW his soveregns broadcast over the boundless
dominions of Russia. He does not calculate how
continuous line from st. Petersburg to Ksffs to
spread in the form Of godleaf over the steppes OF
Grim Tartary. He discrusts an empire tie domestic
peicy Of which ia secluson, and ts foreign policy
aggression-which plans its internal commun cations
for external operations. and makes mercantile value
o secondary TO strategic importance. His suspicious
are not ailayed when he hears that the very mate
rails Of the proposed lines are TO be struggled in
duty free, like an ambassadors luggage. He recoils
from q region where il ia all state and no public;
where trade is fairfield up TO the throat and opinion
is always on the march 70 siberia. Foolish bird as
he is, lie fears to venture his bill down the throat
which invites him; for though, doubt. there is
bone to be extracted there teeth ais, to be re-
passed. In fact, our old gentlemen and our old
ladies'; and the motley group that always turns up
dlesex railways, are just now in no hu nor for the
bait, notwithstanding the clerical decoy duck
described in our city intelligence, who. is always
SrSsIn Brussels aS % Amsterdam Tss sphsa
enterprise is 40 distant and 30 vast /; the
lines are long and so struggling; the conditions
so utterly precarious, the contingencies beyond
solute the rivalry of all kinds possible, and II
profitable certain, that strange TO say nobody IL
trying tn steal march on the Stock Exchange and
get his cent per cent by an empirical exercise OF his
private Judgment Enghshnen, indeed, dearly love
10 win money against tremendous odds. They like
mercantile quackery, and swallow kll-orSure spe-
citations with wonderful gusto. Ii Is a proud mo-
ment indeed in the most sanctihed Of lives, when a
man can let out to his confidential friend, and
through him to the whole town, that he has got
420,0 900 by an investment which he alone had the
sagacity or the courage to try. What has
mon to do after that but to die In the odor Of
affiuence? Yet, with this short cut to wealth
open to us, Notwithstanding its risky and para
doxcal character, nobody comes for ward, of least
not openly Ten years hence we may possibly bear
that the worthy Prebendsry Saveal, whose viii has
Just been proved doubled his fortune by Russian
railways; but at present the establishment, the ia
cuities, the hafpay list, and dowagers keep aloof
and the Emperor Of Russia will have to rebait his
Look to alter his terms, 10 give up his enterprise or
10 make bis subjects construct their own railways.
Not, then, for the sake Of further warning, for
appears to lie Necessary, but rather 70 Justify
ourselves for the cart we have taken, we III tel
short story Of a much more promlsiog scheme, in a
much more improving region, and one much more
within the reach OF British knowlcdge and
surveillance Ten years ago there was the
fourishipg State OF Indiana, which every
pIessed. It is needless. however, to extol ia
position, its resources, its everything; for The
sequel shows, they were all considerably too good,
and are the very cause OF the whole mischief we
have to tell. Ten years ago. then, this very promi-
sing young State had made immense improvements,
and still found great room for Improvement: aud,
what with pact, present and future improvements,
both owed and wanted great deal more money
than its government couid just then lay Its hands
upon. In FACT IL he'd got into that stage OF difficulty
which we have been lately told In the Bankruptcy
Court is certain 10 occur In the second or third
year Of the tounGesL undertakings Ii owed some
millions sterling, and, having paid no interest on
ffa dial fQr ali Waa or evp NJ Ala.
ton, just lis natural resources we're shc wing
themselves in brighter colors than So, Ter
some negotiation, compromise was made between
the State and its creditors, a good many OF whom
were at New York but many more we fear in this
country, which strikes about the most splendid
conception that ever entered into the head Of nan.
cisl deiaglier. We are not surprised TO find COM
mit,ee of The unfOrtunate dupes saying OF the suc-
cessful performers that "they smote the rock of
financial resource, and the living waters Qnshed
forth they touched The rock Of pubic credit and It
sprsDg upon Its feet" Indeed, after careful ex-
animation Of the whole scheme weake the liberty of
suggesting to the Emperor Of Russia TO send a.
obce 10 Indianapolis and secure, any ma what
ever, the services of the gentleman who made this
arrangement: for we are quite certain anybody can
cover all Russia with reculation Of rail wayg al the
expense ofthe Brtisb French Dutch, and everythinR
except Russian pubic, II u the parties in question.
Our own immediate purpose, however, in referring
oit Us just 10 show our own c0untrymel how utter
ly unable they must be 10 estimate the prospects Of
any new and distant enterprise, and now entirely
they must be Of the mercy Of governments social
influences commercial changes, aud eide nt3 of all
kinds beyond their control I...... ....., ...
The following, then, was the compromise made
BY the State Of Indiana with it, weared bat still
hopeful, creditors OF ell nsuons-Among various
Improvements in progress or intended the most
advanced and the most promising was a canal.
DO not start, British reader, at the idea Of an
unfinished canal In the year 1916, or suppose
that there must also have been a gross of green
specaoles offered with II TO prepare the eyes OF tho
creditors for an inspection OF the bargain. The
canal was Absolutely necessary TO the Development
OF Indiana. II was fed by the river Wabash aud
ran right through the State. of course avoiding as
much IA possible other States, ana joined the Ohio
ard Lake Erie. The finsDciers, brokers and engi.
nasxa a..l a.. xfonai-o haain thai Tia anal