The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-10-24


nco'y which hes long bee. kep, anaai BY the Ausroan
ring The SACRIFICES hat vii impose u ,hs crises
upon railway companies which are hampered
i.a that, the s'I panic s:. ' s4sod.a ''s s
Ga subsderoe viii be very gradual ney nay thus be
for scms .ipe 70 come Already the Increased demand
Tor capita from 20 many quarters is 90 ely affecting the
have been suejsced Lass week extraordinary drsiu
5hsi he bank win raise the Of discount
,h, day ws fully exp q We alavm'sn, bat do No.
or mcDey vii be arrested at tuAs point. The
nerc's public however ha had rrac cs proof Of ate
With commercial ,caivity and properly, and they VIII
doubtless Dc rive confidence from the recollection
[Frcm u e Lsndon shipping Gszstse. OFT 81
he monetary crisas ne othsr lido OF the Atlantic
81 forms the prominent 'opc 9TH The srcan journals
We collect he ~e.er frm ccrsfa essmind'on q n a..
op-, although may az Col somswhat pro opsei p'es
sure In the American morty market me soppsse Of the
su e csrted action between thcse essab'
for uu.uL protection tho obi ceng 70 gan time antl
the bar . better 1iion to mees her epgags
neas III. has % rssnes, ger sr.ly .. = Use s,sp
and only remains to be ~en whether me
s.t snpor,ry pressure, Or Of more serou. ca1se
Az occcisns doree in rsrr0e~fino the gsneval stote
sDuDesss and If ne Ss,os d ,os has ss1snosd
Rs IN auerce OF tho greatly inaeAsed foreign de
he states does per cent and by ciroula.
recently neued n Washington appears that tue gove'n
pubic dsOt therefore ,osrsSly clear hat shs oaun
try Of lAye rich, however sevsrely the effect Of the
,s s M may nave ee Or may M % ie ~ osa
On attack made by few unpr!ncplsd speculaor upon
the rs.s, in,erss., an stack ir which The uacase
ens Of certain railways and the oondu n Of rail
securities Afforded Y admitted, ottius oc Mdon
NE "ofera,crs" watched thotr opportunity when, at
the particular bet the crops, there IL
or isss stingeoy Ia the money market They thea
raised the alarm IN hopes OF creatns an additional
the time thai the Of The rail Ways
the greA and OF getting hold OF amount OF such
securities ct dsooun We rste thifk, however, that
thesc gentlemen have overresohs themselves. for the
pressure they thus assisted In Grating
has been h,lsse the hcugan uhern and TO sus
Compsny Il rSs o bio Scpeat thar these fraudulent
seoul5 the veil Al hnugh they Who produc
so.s P puSc s told sss :. Inc
tine Of ih'se failure the bspks Ne. Yo held ao wi
$1,000 600 eae arc $40 goo 0, loans Tee 70,
latter bar cr~ssed nearly 80 ORC vhne nssoe
os returns fro" Can'rrns n ouns 70 sltoo 900, be
uados dsbursem from The national treasury though
against his must be set The % 900 lost in the Central
America nos, OF which woul. have found lie way I, Ns~
banks perfectly sa'e that the rail sAy n,s
log debt Representing some sac can no longer 20
reeaut cr,ss frequent reference be, made 10 the
great commercial panic Of 1887, and comparsons nsve
how oase Is he analogy btsss.n he ", sven,, ire
particularly uring he panic OF twenty sgc the
OF Ne. York Stood arm wnsevsr SIMILARITY there my
be between the eecu Of those two everts thcre Ia little
If We may believe the bes Informed financial writer's
Anenca and If he fAoss to which 90 have rfer,d have
,ty "s,a sD.e; ~ noy com % "a. oo'.n tsa TIE
stored Dee wrter, noeed, Ia the Se~ York Poa, e-ts
thai there 81 p'eent 80 valuation Of n1een hundred mil
nS m 81 dollars In state OF maturity, TO pay up debts,
wipe ont losses establish snsrs stronger bass
than svsrto strengthen In short the commercial Inc
rests The 5Ae "bey the fear OF disAste" From the
accounts whuh have reached reason to
ton this statement oa the contrary very peos OF rea
BILE info, The hopeful dirssion in
dcassd b, the nnascaI BOTH Bnou ana New
York. One good rg a. all euents rast frern hs crrs
socsaion, 51 a5sovsass a: .cry Of hoaa but creduO,
p7Tie
fHx FAILURES IN rHK UNITED STATES.
(FroEs he Lcnoon Ad ver,iser, OFT
The pr sress Of The panic nmefcA crisis In New
York continues 70 dsvslope ,hs results OF iuFradeui
speculative ntevpYiee, and the extent which 10
yoive tire csedii aud nabiy OF tie mercantile public
For Eve past NE mania for Valley Investments has
srsed upon The moa rrno,u ,yse and DC ds, Of rseto..
sss sAsS al us01 Mar. JOraid "a, q, kneA arrired.
uust and sank1u s,cy nsy l. prove Of 0at crane, sa
cAayssr vAscA, sn ae ea,,isr saoes u ae cowroion,
s,d slsn root o. and sSp..,s . hsvs undsrmssd
In rer,crs cssrte ths foubdaucn Of Commercial credit
oOurss Of bu,ns o, mssous arms have been nssi sad
have embarked or beyord thei' means In secu titles
In irrssrevsbe ,us unser;uns'sly thss are ns tue
osly Tu, o. VIE sufer Whenever . Suooesaon OF fail
% Se, u ~ o0 sss
o. Dyed and tie snue comme cisl sysssu 10, In some
nes,sre, rGNy'ed Every 'p,ciss Of speculation hes
en- foserec, every ssesry has atvscted supporters
and The usuL collapse After an unvarrSnssd imitation 10
row experienced me brought BY the Baltic to
day ord ne aoAtemen, OF the excemsnt the oo,
,rrry furts.r ossu.lues rs reported oshsrI we're e1
pec,ea fellow the failure OF two banks in PhadeI
bsIks" by Vigorous and eoumesdsbIs course OF scon
bad fortified tier pooo 10 extent thai wouit In ~
bul lie very msssu,es sey aers 90 spsi.d 70 adopt In
set defence merely aesravssd The stats OF Affairs In Wa
street Ind else shore The utmost elimination 10 OIL Loaf
(
for negota Ion % narrowly scvuun'scd and large pro
ssSer States see p,ed,oied, ssd many Of ,noss .to
have hitherto taken apgaioc view aud have ook I'd FOR
:: ma si %s:s q ne
bcn The sxontDse on Lo.dou In stu very To- viz: ios
70 loI whoh vi no dooo, lead 70 rsmlasnces Of xoi
firm this side Before the Cutor ak The Americans sed
Considerable sum or money on balance Throughout
the cary part Of the year hcy imported largely, and
through the facilities anorc cd b, tariff hey order.
90 and ob,s'nsd mmnse supplies Of manufactures, p-o
duoe, &c We, on the coaxsy, TO smaller quaniy Of
nigh psiDi having ipduced . csuuous policy toe
,uh v. tha o:fns Ike loe crash Acre ma' -
DOM st,irs RMS balance Is nov probsslT much
rsoucco, snos the ENORMOUS deprec slon In
sIecul.rs .ss side 70 .esd eui extensive orders 70
purchsse the intention being TO a,ai wo psticnos tbs
ssso,"y .nisa ms,, sooner 2, '.'er s.so plaoe me
uli,srcss eave Afro been made IN pay mens Of calls
shares held here, and nrms bavips agencies or nrmSe
ccuneoronsie ths Saes have M touot Forwarded sup
pJes su,iAn their credit Altogether, therefore, tue
osiu, sssoe bss enAed senos ooasequenoeI than
could hare bern imsg,ned and 30 u imponble %
Lsil hos fer the pcshion OF oher local nSns and.
ccrresuve. OF oAoa'h men,s 10 Lve p,o,, Manchester
ami Lonocp, maj be oompromised.
ADvAKCE or SBn RAfK or KTERxsr BIZ rag BANK
ENsLASr.
fFrnm the Lender Herald, Oa
This MEASURE no, % sted, osnt % the late
heavy Withdrawals n gold the unavorabe NJ OF the
adv,oss from The Unised States the advance 10 the
value of mtrey on the Continent These comb ned cir.
cumss oacu sstd isduoe !hs adoption OF
nr,c.ive nessurcs, and .i 20 sansfacsory the n,
ard emett does not mako further progress The
Gaze % the prsviou, alteration The l0h OF July, when
rcdrcsen "a fro 10 81 per cent took place fhon the
neck Of Moo cady increas h,ougn the iDn *
from Austrsi America and the osptot Of slrs 10
osnsr respects dkcoursgng TIE ssfious nature
the Insan revolt has, however, sl,os become
more manifest, the roeipts from Australia have d.
mnhhtd AM ihe psna rhion. otmmencirg 10 New York,
has nov rtscae1 Philadephs and Baltimore will,
AL proe.ey lead to adj orai baking deyasge
ans mrrcantle ds rass 10 iYorJS he gsor afrono>