The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-10-25


outside of tie administration. This is the pre-.
cent position Ct Mr. Hunter.
| The MONETARY CgrSIs-ITS COMPARATIVE Eff.
rscrs oN FRYE LABoRERs AND SLAvEs-If the
effects Of the terrible financial hurricane that il
row care.rpg over the whole country were to
ne coriaed to the Breaking down of insolvent
| railroad companies rotten banks ard swindlipg
stockholders and to the contraction of the over
blown crtdir sIs'em Of the land, the visitation
might be regarded rather as blessing than q
curse As..,t is, il will have many beneficial con-
seque1ces. 1t will necessitate economy and make
extravs gance questionable. 1t will reduce to
their proper level those who in the late general
prosperity of the country affected the airs of an
old aiistscracv. l. will cause many bubbles to
bust and mutations of all kinds to collapse. For
all ,hese ELECTS Of the panic we could not be too
| grateful.
Bot one consequence has already flowed from
IT which is indeed deplorable, and the evil, we
are afraid. will continue aud increase during the
coming winter We allude 10 TIE cessation Of
work in many Of the large factories and
III
70 the fofcsd idleness Of Thousands aud
tens Of thousands = III depend on their daily toll
for their daily bread. 1t would be very mode
rate estimate to take the number of persons who
will be 20 disenploysd during the coming winter
in the principal cities Of the North at 200, 900;
and these would probably represent million
mouths that will b. crying FOR bread. On these
uufortunates the financial crisis will bear with
fearful effect Luxuries can easily be dispensed
with. AID therefore those who will lie deprived
OF them require no great sympathy; but when
poverty and starvation come upon families, then
indeed. the trial Il terrible. With million Of
nou,ha crying for bread In our large cities We
can hardly hope TO escape scenes Of disorder,
riot and, it may be. pillage and plunder. We
trust. however. that that dreadful anticipation
will not be realized, but that humanity and bene-
Violence will be exercised to such an ex-
tent o. 10 prevent any one dying Of
starvation IN our streets, and to guard
Against the pciils Of riot and pillage. Never
thel,ss Il il obvious to al that these dan
ger. re aot b. any means imaginary. II l. but
too certain thai the suflerings Of the laboring
clas,rs u cur cities for months 70 come will be
great II / that Thousands must endure the hard
G. prive.ions.
How i il with our friends in the South The
Southern States have not escaped altogether the
consequences Of The present panic. There, too.
! I, "a. para wed trade and commerce closed up
banks and d,precistcd State stocks railroad
stock and every ether class Of paper security.
Mer hanis there haze failed and truders been
compelled TO susrerd. But the poor-the labor.
! To- clssses-tov Is X with them? Are they ev.
posed 10 the pcrils to which the laboring classes
Of The North are subjected? ls there any fear Of
single man. woman, or child out Of the three
| million Of negroes there dying from cold or
! starvsticuy viii any IL them b. driven to beg
I IN the streets for bread az many of our
/ poor mechanics here will doubtless be ?
viii he poorhouses he flled to OVERLOOKING aud
the soup kitchens belcasuered by starving hosts.
Let the csntng whining crew Of Northern aboli-
tonists answer these questions. Poorhouses and
soup kitchens are institutions unknown of the
South, aud they will continue TO be unknown
there, even throughout he coming winter. The
three millions Of laborers at the South will not,
we undertake to cay, miss any Of those necessi-
tics ard comforts Of life to which they have been
always accustomed. They will be clothed, and
housed and fed a. heretofore, and will probably
be ignorant OF The fact that these are hard times
In view Of these tacts-iu view Of the con.
rasted effects Of the crisis on the free laborers Of
the North and the slave labosers Of the South
how can any candid, common sense man, profess
tie belief that slavery il a horrible, afro
cious, accvrsod, God dcfying sin-"the sun
of all iniquities!" Doctor Cheever attri
butes our financial disasters to this very
inlqu,y, and to the fact Of the nation having
accepted Tic decision Of the Supreme Court ID
the bred Scott case. But let him or any cthei
aboli,ioDist fancy to himself what would be The
condition Of these three million Of slaves II they
we're to Gay emancipated. What proportion o
them wocld fau victims to cold and hunesl
@,r;,n ,ha oO f,y vri~4nr9 ~ CO. ~r,f1aot,-o