The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-10-20

CW 1O1tA uENAlD, III
s-tlrtion has slso been directed to the extension
Of the pcsss facilities Of this metropolis to the
Lotoon s!stem- comprising delivery from diff
iscat points in the city, six times. or once in
every two LOTS during the business half of the
Gay. We lOpe this rsform viii be speedily car
ricd cat; End would also suggest that the sppro-
| rrtat.on Of taf million, made by the lsst Con-
| grsa for TIC pu.chsse of the ground for Post
| OGce, ccuic row be expended to the best advau-
| tsse, IN cash, to purchaser and seller. The
location AID the business convenience of our
IItstn, ed Dutch Church Post Office, ere a. least
twenty Yeas btbinc the growth o. the business
int<rtsts ard poru'stioa o. the city.
9ae TsrsGcsai kevuissOns 0f tits sss~sent
| Cenrarya
| We puJlieh elsewhere an .isboyate account OF
| tie 1rGLc,al teyulsions waich have been expe-
I,cncoa IL the UuiGd States since che begin.
Mig OF tile present century. Persons ea-
| pagto H. trade viii lGd tho document worth
| kstpipg, es We a7e musa mistaken ii tie iist Of
ruvpleous is closed.
/
is commercial couotry, govsrned on tho c de-
mocrs'ic principles which are best adapted to the
dcreloycmen ut Of commercial enterprise and inan-
! Cid adventure, the tide Of trndc will flow aud
COB, xi;a erGs Of uuboanded prosperity and teri
! hle decline, at regular intervals. When the re-
vuirion O, l6l4-'J9 Sas preolPi!atod upon us by
the war, the whole blame Was thgosn upon the
A
promised themselves that If once they we're at
peace again they would take care to keepout OF re-
vuis ouR foi the rest Of their vcs. let hardly ten
ycaIs atteTwad, il was sesary TO have partial
clisis IA old,r TO re establish commercial cqu,i-
i: am, aud the very men who had suffered the
most il lSii-'i9, and abused mr. Madison
the most heartily, went to pieces alto
gether in 1881, and disappeared cursing
! jackson and ' an Buren,, Just 50 the merchants
who were taught the severesl lesson ia 1851, ard
believed they hsd proGtted most by il, are the
very opes who suffer most to-day.
| ID is o. easy to discover analogics as to detect
/ differences between the rcvulsons OF different
| periods. Events repeat Themselves but as the
human mind is never at rest, there are never two
| periods so ident.caIly alike that some striking
| diieraee may not bc discovered between them
| INT reat latent cause CT the reyulsions of 1881
and 1851, together with The minor crises Of 1929
| and IS;7, was the same--the uRbounded cypan-
sioa oi paper credit. III other words, throughout
the whole Of the past forty years tic general
tendency OF this country La. been toward IN IN
due creation Of fictitious wealth, bcgctting alike
social extravaganza and commercial excess in
oyertladipg This paper expansion culnina.ed,
in 1857, BY the general crash Of the banks; ii
eliminated this year il the ruin Of tic railways
ana The destruction or depreciation OF nearly
THOUSAND million Of dollars Of paper securities.
OF cours: tAeic IL vast difference between the
two periods; taen the banks we're rotten, ROW
the SutTuIac Court assures gs--tLcy are sound;
then there were NO railways, now railways have
ogcrsbadowed every other industrial interest;
then there was Nttle specie in TIC country, nov
| thero is Il qoat deal; and so on. But at bottom
the secret Of the two events Is the samc--oyer-
! expansion leading 20 everything and over
! trading
| One cannot help rclcctiDo, a. one examines
these painfully inierl ting financial records. that
| the universally OF the ruin caused by these
revulsions il part Of the price We pay for demo
cratic Liberty. They have rcy Visions in England
too; bu; ticrc, they touch only the trading, not
the wealibiest class The great moncyed class of
England rides high above ihe gweep Of financial
storms Tie arlStociacy mcuus them, bal OILY
from sympathy with the merchants as for them
selycs, tley cannot lie aiscted. Their incomes
arc derived fom a source which monetary panics
Cannot aicct kindly law intsrposcs IN inSu.
pcrable baIricr To The onoIo- shuents OF reval-
tons upon the CAPITAL Of noble estates Noble
men, in Encland ns IN Germany, may do as they
please with their rental; hut "a 10 the estate
itself they are in the light of infants in law; they
can neither ALLEVIATE nor mortgage, aad financial
cries Cannot impoyetifh them by single acre.
Thus il turns out that reyGlsions In these coun-
tries appear at least 20 Ire lee sweepingly dctc-
mental than they are with us for whereas here
they carry away before then all CLASSES from the
OCCUPANT Of mansion on Fifth avenue 70 the
mechanic Of avenue A, ihcfe they strike ouly
upon tho middle, I'd part OF the lover stratum
Of society.
These and other reflections will occgr 10 the
attentive reader Of our chronological summary
VIC rcpnt I, may prove not only Of interest to
II, eurious, but Of rcc, worth as o guide and q
warning 10 the fair dealer and the merchant FER
yeas to come.
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OUB reformed PoLIcE STsTzx-Irs FEgTs.