The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-08-30

like the two Yankee bcys Who swappeA penknvee
With each other all day. and each made large amoan OF
money in toos-s rich rom speculation off or each ether
thus every s'resm of TIA; prsipg portion Of
country lined with towns laid of IN ,pda ink tho
whies draining aoer With lands al these agures the
Western people can afford to their merchants go
SUMS OF money; Ird though town lots q deuoed bad
coin " paw sto accounts With ard peeky insonyenient
sut OF funds 70 remit TO the East YET would be inoon
ceiv ably stupid IN chant dstrust debtor rich in
snds at hundred dollarr acre. the prospective stes
Oh future great cities Western mer 'hsnss osunot there
fce, collect Their debts, and the, break Eastern import.
es who have ordered COOS from abrosl In quanu,ies
prorcrioned 10 their proiIeous sales to tho West and
thus over traded 10 friehul extent The basin Of Vest
ern town ioIs, falling 20 receive from the West
poouce in proportion 10 their oaims for en-
rorSion, and, unable to make tina. sors OF
Drained Of she basis Of their circulation and OF their de
pos!s and have 10 ca.ts Lher Lines or discount and
every extraordinary exploration nj sec,e to gcrope oc
I,pses indefinite Number Of banking and rner can.e
concerns "do!ng large We trrn business"
The western railroads. ioc enter INTO The eha Of panic
when you speak OF Western railroads you speAk OF
thing more rotten In Denmark tasn even Western paper
duce TO market by The large quantity, and for carrying
peope from city to city by the hund reds or thousands
railroad IN The wilderness Of country peoped only
ol hnnd,ed OF two spectators 10 as useless piece
OF public furniture ~ mill on top o. hill g coach
and sx upon he high sesa Il does no. bel, tho
ssy thai the railroad viii popua, the wilder
u pene.ratss, and :hs, the population which the
railroad iseN creates III support and mako il proHsa
bic ooDce'n The case ID pTecIey similar 70 the French
which toHk into lie head 10 die the moans hsi learned
tia. valuable Art TWO 6runsen Garnet Keep each
men car keep each oher out 0! The ditch Ether the rail
read must sink vast capital IN u,sng the Wild coany
Is made % reneratel1 1t nust be cans.rac1sd in
Country popuous enough TO supply with the large trade
AND travel which capable O. .rsl .poriag and which
must have for iYapsporAhcn IN order 10 pay lie ray
Something carrot come out Of nothing r=o no;nugs can
no. male any ecrt rf . something railroad BATH OF
nothing be: credit reHirg upon toe esss Of ussed
'ands-lapds donated tecauee worthless n the market.
and pene railing country where lands dirt cheap be-
cause desutu:e Of popula ion-mus. rirk the value Of
nundred Of s surpsus every TIP msde by e uane
and mus. burt the boiler Of Ia credis II very snori
pe'iod of time
Wen, every body IN the West 10 n Gre CT lees rich IN
bubble railroad stocks me railroads ope aed n
dead expense pscause the County they is
and void population 70 supply Trade and travel In
Wholesale Quantities Their stocks really worthless
a. an Investment There is rever any cash capital in
toese rawoad companies tbe capital being altogether In
everlasting lands but the oApi being in iands and tie
railroad luds repres snsg just have t,e town
the railroad schemts thirty, nty and hundred dollars
an acre the or rsoad e,ockr worry rich
In yaresd shares valued ri hundred dcis-e based
isnds rated ss pfty and G hundred.
TIE waole Wes: a eridrcned over Win rail-
roads owned by bubble companies Of ihn sort
me inareho,ders, requiring money for the count
p)eJge tbeir bubble railroad stecks With bubble
banks for the rotten cank roes whinh are thus
spewtd forth from explosive bsnkng Lnstugons West
err produce falling 7, for ward 10 the Es IN su cient
quantities to discharge tho heavy wezern sdsbsedrsss
Cn4vou
70 tho brokers by the Eas'ern merchants. Tney c0me
back IN cocks upon the bubble bapf. soons consume al
their specie, and then grand ,eres CT explosions
besyd IN I'll he Western country 10 grand round Of
expected kcaIhies Just NApoleon's usef 10
boom upon the ssonrded ens OF Europe In al directions
Q. The samo time.
the bar as explode, but asseverate with great emphass
OF speech hat hey solvent IL ough obliged 10 auo
pend fos short imo AID they sJe IN Iced e,vsot IL
tncr dc ptors good for the oars have tbom
TIE cehtos too good n tho rsrcaf storss wtnh Troy
have pledged with ho banks worth anything Ike par
rates These railroad siocks ave n teYn worth
Pc rates tie railroads themselves are ss
prosperous ~ heir ofncal reports make tom oct
10 be- and the iinds they hold worth fy and hun
dred dollars per acre Thus the who. fabric Of Western
credit rests lands Waited 81 atty snd h1odred dol.
ara an acre wnnh last year or the year before were
bouaht ut dollar and quarter doIs,sd by the
government e. IN cxpcdic,t fer making VS. own iaaas
then drug ~ dollar ara qrareJ sell for ttas price
The lronble begins with the wcst, bat docs po end with
the West New England manufacturers who have sold
vas. quantities OF their fabrics 70 tnsi section At tao Union
~ noir chief customer su.er. We have sssn To y the
Ne~ York jobbers and importers sufsr. The whole
Northern and Nov 1gi.nd commurry being moro or less
Involved IN eusfress with thc!r mAneairrery and
chants. sncr less with them and thus this West
r,or,s 1suteauls land mania Involves entire hall
CT the o. rfedeYaoy.
me rcpubbc ct largo docs altogether escape. The
Western infxtion produces rational ovsrrsdnF large
scale ezbansng The country OF COIN aud q s credit bal
apo- sGars Europe, and caua ighDea and strgency
al yver tie ccnirept
Bot The bubble IL bur,ting at last Il time the en-
healthy state OF thpgs 'ine ss tho weet DC
10 q ostAtrophe. We shau have storm, thunder gust,
smoko and dust 10 terrific fury f5r t,e while, lhen
We shsll have clear sky bright srn,hne and pros
porous day.