The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-02-12

poleon, and retained in the Emperor's favor, he
was not long in learning that his position and
his capacities for acquiring early intelligence
might be turned 70 account in pecuniary point
of view; he began, like many Of his predecessors
under the monarchical ginle, by selling the tele-
graphic intelligence from England, Germany and
Spain, to brokers, who gave him an interest in
their operations by way of payment Operating
successful]y-as person connected with the 60
vernment in France is sure to be able to do, N.
de MorDy spent money as freely as he made it.
He became noticed in France for the luxury Of his
turn out, the excellence of his stud, the capital
dinDers be gave. Rising, simultaneously, thanks
to his tact and adroitness, in favor with the
head Of the State, his means of operating were
extended, and good society opened to him her
bosom, as che always does to rich scamps There
came a time when De Morny was really q man of
influence wealth, and aanding-when he was
able to do his part toward managing the Empe-
ror That time was during the war with Russia.
He was privy counsellor of the empire, and
an incumbent of various Offices-but before all,
he was speculator on the Bourse. His friends
and associates were all operators too.
All the Imperial household, high and low,
men and women, operated in stocks. 1t was even
pretended that the Emperor sometimes took a
flyer, but this has been denied. At any rate,
the war raging furiously with Russia, and De
Morny and his friends being very anxious 10
make bold stroke and clear something hand
some at the Bourse, they resolved to make peace
Their determination was known in a certain
circle in Paris, to which the Prince Napoleon had
confded it, as early as October, 1855. From that
time 70 the close of negotiations, the prelimina-
ries were a farce. The Emperor was led to be-
lieve thing natural enough: that the state of
his finances and of his army would not permit
him to continue the war; he gave his consent to
the peace, and in spite of, and rather unfairly to
England, it was duly signed. Upon which M. De
MorDy, the other members of the Cabinet, and
the chief eourtiers and statesmen generally made
their millions on the rise in the rentes which fol-
lowed.
Unexampled as is the fact of great war being
brought to close in order to suit the private
stock jobbing operations of individuals, we have
no reason to doubt that the close of the Russian
war was brought about by this cause and by this
alone.
Nor has the fever Of speculation in any
measure died out. In France, preposterous
companies with power to create paper securi-
ties to almost any limit, have been enabled
to circulate them by the aid of De Morny and
the other friends of the government In Ger
many the Credit Mobilier secures at blow the
whole system Of the Austrian railroads. In
Spain, the most desperate eypedients are resorted
to obtain twenty-three millions loan. In Rus
sa a scheme is propounded for the construction
by one concern and simultaneously of ten thou
sand miles Of railway. In Turkey, nothing is
thought of but the establishment of banks, rail-
way, steamboat, and telegraph lines. All over
the Continent, we find the same story-un-
bounded, unthrfty, reckless enterprise, radiating
from Paris and from the household of the
Emperor.
wealth is accompanied by an increase in the real
wealth Of Europe On the contrary, we note an
actual decline in the production of several
staples-wine and silks in France, corn on the
Danube and Black Sea, timber in the North.
And the late large levies Of men for military
purposes cannot but have checked peaceful in
dustry. The whole fabric is supposititious Like
the two millions worth of diamonds which Count
de Morpy presented To his bride on his wedding
night, the speculative schemes which engross
financial attention in Europe, the Credit Mobilers
extraordinary loans, impossible railways and all
the rest, have no substantial basis in fact, and
will some day vanish before the hard realities Of
revulsion, distress, and sheritf's officers