The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-11-10

be expended for the above mentioned purposes, your
propratng the public funds than by tho purchase and
grautous distribution Of fuel food and other necessares
Of hfe especially as this public charity is dispensed TO
those who arc willing and anxious TO work whenever an
opportunity for so doing is afforded them.
Your committee does not agree with the suggestions
contained in the communication Of his Honor the Mayor
relative the proposed Of stock TO purchase large
quantities of food to be sold at price TO aborer on the
public works any such indirect mode Of benefttng the
poor would be fraught with evils which would more than
counterbaancc the good thus intended TO be conferred
The congregation Of large numbers OF persons in our
assembled in one Of the public squares and tore
down and carried away the fences under the
pretext of supplying themselves with fuel, and the
more recent asscmblages in the Park are not cacu
lated to enlist the sympathes OF our taxpayers nor
your committee but tend only to bring odum upon them
Selves and create the impression among our citizens
that the leaders in such assembages are not actuated by
the desire TO benefit those whom they address, but rather
acquire for themselves questionable notoriety Your
committee cannot dismiss this subject without expressing
their unqualified condemnation Of all such proceedings
hope for the benefit OF those people, that in future
meetings will be discontinued and hereafter TO let
their be known and their wishes communicated to
the city authorities parakng less of the style
Of the dsaffected population Of European cities
Your committee cannot permit the present opportunity
to pass without giving their views in reference TO what
called the present crss and endcavoring TO show by
what they deem conclusive argument that the revul
sons trade the depression Of all descriptions Of labor
the apparent scarcity Of money and the various other
which have conspred to bring about the
distress and suffering which is said TO exist among
classes
zens, is bat temporary, and that in short time,
from the nature of existing circumstances the coun
try will assume its wonted prosperity, and trade
commerce and manufactures again resume their al
oted spheres of usefulness and confidence again take the
place of the universal dsrust now pervadng all classes
Of community comparison of the present revuson
with that which parayzed the country in the year 1887
will be amply sufficient your committee believe to salts
fy the most skeptca that present only temporary
embarrassment At that time the whole country was i'm
poverished From Maine to Texas, which latter was not
then ours dependent upon Europe for the very
lca an1 lu fnr
1t in specie and cottonthc first Of which articles i'm
measuraby than also the second for
the that the absolute production OF silver and gold
amounted then, and for $50 years previous to only
$50 00o 900 per annum through the whole world while
600 per annum, of which have had in proportion
than any other nation. So much for the specie, ex
cept this that England and Russia, prior to eleven years
since, owned in respect TO the United States specie as
ten to one-now are nearly even with them. Our
cotton scarcer than SPECIE for the United
States Bank had undertaken TO control the whole Of
our cotton crop, both that in hand and that coming
forward, and from the foreign advances made to that
institution and others concerned with it we found ourselves
with vast portion Of that article of payment in the hands
OF foreign owners For three years previous we had
short crops and when the crisis overlook the midst
of what called the great land fever, the price Of
labor fell at 10 its lowest margin while the prices Of
all the necessares of life maintained at high point,
and even rose above IL.
The great aborng and artisan classes we're reduced al
most to beggary That this not consequent upon the
"grea land fever speculation is plain enough, when il is
known that lands in Maine four years afterwards were
sold and bought prohtably at prices above the highest
point of speculation prices during the land fever and
the certainly known Of property in this city The
South, at that time was perfectly bankrupt.
Look at the contrast To-day the foreign debt OF the
United States absolutely less than then The South is
not only out of debt but absolutely rich She her
cotton sugar. rice and tobacco and adds nothing TO
the burden of Indebtedness The North Is in debt but the
immense surplus Of her productions from harvests hitherto
entirely unknown amply sufficient TO meet all, and
yet the prices rule lower than at any period for four
years.
Then again. the vast majority of indebtness is of
such character as really to amount TO little 1t is rail-
road loans and these confined to the railroads them
selves the hands Of their creditors, nearly all Of our
debt "wped out" The suspension Of all our banks isa
most fortunate circumstance, and it is to be hoped they
will not resume until they are beyond the necessity OF
another suspension The bank currency will thus be
equazed throughout the Northern States and exchange
will be abundant within sixty days between the East
and West and rule at as low prices as any prosperous
year
VACANT dressing splendid turnou and fine houses the
causes of distress TO a nation No more erroneous i'm
preston could exist Every that the man Of
800 81 900 900 INDUCES adds to the means the
support the wealth OF ten hundred who had little or
nothing else but their labor their intellect their taste
II of million spends principal and interest in ten
years and finds himself beggared the end Of that me
he has actually made hundred who have catered To his
the division OF his wealth He may be ruined but tho
nation better OF and richer, for hundred minds and
hands with sloo 900 apiece, Tar more productive than
with the whole.
The great truth apparent all this crisis is, that II is
simply what is called "panic" II is universal distrust
every man doubts his neghbor's means, and has his
doubts returned The moment confidence returns, men
will look into each others faces and feel ashamed that
they allowed this panic to disturb the public mind 70 the
extent II has.
The distress merely temporary and urgent because
many have been suddenly thrown out OF employment
ample provision be made for the deserving at all
times and the public may rest assured that the Common
Council will take such be deemed need
full in the PREMISES but the unemployed must orbear
until such provision be made and remember that the
peace and good order Of society must be maintained
throughout the ''crss"
The following resolutions are, therefore, respectfully
recommended for your adoption
Resolved, That II Us inexpedient at this time 10 adopt
the suggestions contained In the OF his Honor the
Mayor transmitted 10 the Common Council on the 22d of
October last relative to proposed issue Of stock to pro
large supplies Of food 10 be urnshed at cost prices
70 the laborers employed on the public works.
Resolved, That the Comptroller be- and he is hereby
directed 10 expedite much possible the contemplated
grading of Hamilton square and that upon the passage OF
the Central Park Improvement appropriation he take i'm
mediate steps realize the money contemplated 10 be
raised by the passage of the ordinance.
Resolved, That, IN making up the annual tax levy Tor
the year 1855 the Comptroller be- and he Is hereby
horized and directed to insert therein, in addition to the
annual appropriation for roads the sum Of $4,000 TO be
expended in macadamzng the Second avenue, from For
ysecond To Eighty sixth street and such other streets
and avenues the Common Council may from time 10
time direct.
Alderman WILSON moved that the report be accepted,
the resolutions adopted and two thousand copies printed
in pamphlet form. Adopted.
The Board appointed special committee TO concur with
the Counclmen respecting selecting site for New York
Post office
Adjourned TO Thursday, at o'clock
ROARn Or C0lycU UGV.