The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-10-12
FINANCIAL TROUBLES CONSIDERED AT
TIE PEOPLES MEETING

ThE fDOPLE6 mEETlNG.
A, the 'Peoplos Aeelss" hsl on Sunday afternoon al
O'Clock, In Union Hail. No. ls6 Bowery, was delivered
. eaure by VIM. Il Burr On "rne prevail M naancial
and industrial dcransement-thcir and Injurious
consequence and mo means Of prevsnsoa and ours"
Aler br.f roduccn, and calling the attention Of lhe
ardoncc 10 HE importance OF the subject he expressed In
modest terms, his teneFy In discussing question OF 20
much moment that In every body's mouth,
uppeTmosi 10 their thoughts Men or undoubod wealth aud
sbutdani resources are suddenly psrsyzed and obliged
not only 70 Tuspcnd their pay nenb but their entire bus
In Of the want Of money while those who
thocEni themselves secure from BY having pcrma
nps employ mept are suddenly ihrosn oul OF n, and
kpov not whore TO lock for the means OF suoshtence
II not he schcmrE, spccniaDg, pwindfing alone
wto are auons II. hri Of Bankruptcies; ndeed, mspy
Mo u. = sns %S ssS o.
who srem 10 be -ariy he cms Of the present orss
vGiors causes are stifred for The prcsen, 6,sress
The subject, Of ~hioh The result deep re-
rfcton and oinery tie sAddle from which the
the workings q ,hs rrean rys are The a. sSo sept
ausc. socn vas the CRY Of many In 1897, sheu tno1.
sades echoed the otto Of General Jaoxsou, "He vh,
irsdfs 90 bovrc~ cd capital ought 70 bresk" have
heard thss repumcut uue,ed IN 1857 Perhaps ihs wor
shippers Of od Hickory sfcs swcnty years cxpcrenoe
have grown vber than iheir teacher rhe orcdn sys,em
doubt has evis and most be sbused what sy.tsm
that not based pc,ivc science, nIed ard esabbe
bcycrt al doubt, has nos Nc evils and sbuse7 One thing
y
vfauocvcr Where then shA tns nneS The are
mar, evils Of the crvdn yse EN- thsi I would moss
pa able nom 1scs me enseucy 70 eredi 10 greater IA
prspcon 70 thc rate ot nte ess Inv rcs itse
enc ~ fc most fearful Of e evils of society 20
rest, large porJon Of ,hose having become nonpo-
ducers because they can i've n dsncas and erhaps In
,rea, mas o. our ,sssmsp ss oSsss 70 be borrowers
and snyf Bccauss the knter 80 I've without work.
ftere are many earn iris 70 e sure, .ho labor s hAri
any body Al ne san lime muoh sf the srgest part
Of The cs,Ha ioanei 70 orc Who, for the usrt Of
ough their osn 1.-Two without work compelled
b;rov q ,rr into NE lover sTel q N. a. y soyer
All the capital In exhicr hN been e5uoed and earned
by somebody; 20 that, taking The world In the aggregate,
,horc is ncs,ao upasAl. rhe average amount Of
hcr Of ene ousspd so,r. or ave oussnd dol .rs for
cam family. Every head of . family, therefore, vhn
eoss nc, happen 10 have accumulated ave DOL
Amounting thres hundred dosys, tredy or ,odh s,uy,
70 ~me otc sse whs, IA frish,fu drain 10 tbo upon
termed thief Props'g ef and every nan of ca
r,a |, an nvoun ary thief, though no sieas under the
pro sS,,on Of The s.. ss'.r,es"s' rorery
irs. But after an ! have tsn of the ore
da Usiem sud Of the theft of usury or o.sres,,
hc present orss, cor cove IN no speriI ccgcoe asri
buiAbo ehher ~ thrse tnirgs, eseop, 20 Tar ~ Us
GREET - ssem Ia connected 9Th our foresn rsie b'ns
attribute ine rrtsrnt banking vsteu others
!, exssyssaSoe and oho sgrn ssry "a 70
But ,be frue oause mainly, entirely 70 no fnaoi
in oyerveeins Is v asserted sue ~nhout deuis so fs,
sm sewe, that our foreign debt II 20 huoored
miicus ef dollars; srd Ia order 70 explsla hov ths
socnmuissed fnrs,sn seb, hs5 brought lb,ut the cr
sic, Mr.. Burr thought necessary 70 take sarvty
az The question OF ourepoy, upoa which TO
cweh At scus lsnsth. Ne assersed n.Ai wsbcu4
crcuiasisf medium nct half of The svsiAble ,udus
try OF ration ocud be employed and not cne half of The
wealth pvodUcsd that oherviss cosld be produced Po
nncAi ecoscpt's sy ihs. circulating medium mnn b.sr
erisln relative proportion 10 the N CT tho coansry,
and nst carnct be diminished without seriously
| damaging snd mpeirine trade An sbsurd idea sccrs
be srtersircd by people shs, sl values sy be
@pvcrted into ecis hence the ssorsns seized with The
contssicn OF q Panic, viii thus madiy rush 20
the savings bank snd drs- ous their deposits In
gold, 70 the banks OF issue 10 have their notes
charged Into specie. Lev au mp, be made
rves We daily ansscprs Of sbs bu,pess vorld and !,