New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1857-05-28
ln,e With water frO tho rurfae,, bu. ne trouble y


The we4k opens with moderate trausachons 10 ne
u,arket generally, but with weilsus.a'ued lnces ioI
mos. articles though viii De seen that onf eddiis
staple cotton has been depressed, being rather an
Lav.rably Influenced by The tenor oi tr european
adyioes, and an advance 10 the rates OF HeSh,. n
was better feeling Yesterday, howeVei, ~
after receip, Of the later adyices by the niagara
considerable degree oi activity u 5'i' lie and
the demand for money boih AZ snTT he MAKO.
through the usual channels outdoors ~ T.. -, he
e,bibts rather stringent character ou' 81 ,'uo. uo
IN hr TO- ti,ere IA any absolute pressure pre-
vaing We continue 10 quote me 'a"le i"l ~ az
beCore--say fist-class shof' ana Iois Pop =
Z, ceut The latter being the lfeFa.'hs T@t sece"u
,lass do. u a ~ anu '0 V'-'''
cent and upward. -, ..A.. ,.~ all lcy..,,,.
- ~ FIchepce has been III poorly supplied. Ibe
.,,;,v in the meantime although not active has
been very fair ant the prices for Doth ioregn ana 90
mestic bills are FIRM and IN some instances dfaweTs
have been enabled 20 obtain advances On our previous
quotations more particularly FOR hfste'4ss p.i7 on
England and France and for sight drafts on 'ne NORM
Time bills on New-I DIRK Boston, &c, although III iaf
reqnest are by means eagerly spugh- alte hOI 20
re find an, other than q small advance claimed ~
bankers Out-of door bills rule a. before n0uced
We quote sterling for extremes y - ana W y cent
premium. Bankers and drawers o. i4ncy oHs 1SG%
s,onally obtain q Z cent premium francs, ';IIA q
jI5 pdollar. New-York and Boston ojdays dr9its,
Uul} and Il 4 cent discount. Sight checks, a g
cent premium o,.,-,,,,.1.so,.
Financial affairs in this country, N he q mon O.
many shrewd observers, are approaching a crlss'
"
Lands and in unproductiVe Railroad Companies
Within the last three years, millions OF dollars have
been distracted from the mars OF more active trade,
70 invest in lands in the Far West Territories Inc
high rate of interest paid for capital engaged 10 these
speeaations has attracted from every other section OF
tie Union vast of money. All the more wea.tay
counties of this State, and so OF almost all the 0ther
States in which reside money making farmers have
sen. forward all the cash they could conveniently spare
boanng il on new farms az from ~ 10 81 e cent = an
num- and to make the investment doubIy safe az they
1aVdfu in
hall OF fourth of the present market prce OF the Sc
cury Lenders seem 70 forget that current prces are
the result Of speculahon-that when payment IS de-
manded, and the land thrown on the Market az II II
very sure TO be- il will not command h;tn pfooao1y
tenth of the mortgage claim against IL len tlInes
a. much land has been sold as will be wanted by actua
setters for years and city building lots nave been
dotted off on paper and labeled with Chestnut street
and Broadway prices, than Will fad builders and Oc-
supers for at least half century These sPeculations
have absorbed millions OF money, and p1ed up Ten
times az much of liabilities. Credit Is stretched to ts
utmost tension The banks here and everywhere feel
and that these things are true, and know the fear
full consequences OF any further aggravaton OF then
How effecually 10 check this dangerous course OF
things, and not Immediately produce financial con-
vulsiOn we know is source OF ANXIOUS sOhcitude
with many gentlemen prominently connected with the
actual financial business Of the country. The land
speculations in Illinois, Indiana aud Michigan, some
fifteen twenty years ago, should not be lost sight OF
by operators in the newer fields offered by Kan
sas Nebraska, &c. Then, as now almost fabulous
prices obtained. Failures were nnumerable,
and the amount of money lost and promises dssipated
carried ruin and misery to thousands. II Is hkey TO
be 80 now. Like causes produce like effects and the
result Of speculation and dlenes never other than
bankruptcy and ruin. The remedy is little more re-
ahty and less fction-mOrc work and less speculation
There too many for the number Of pro-
ducers. We want filters OF the SOIL Wheat,
potatoes beef pork, sugar and almost every commOd-
ity that we eat have been up two prices. Specu
lators eat as well producers but spectators are
not content with simply eating what others produce
they must needs have facaHieS-bank accommoda-
tioDs, more banks and more paper money. These add
H. the volume of currency dcprecate MS value, and
cOrrespOndngly increase prices. As first step to-
ward retrenchment and more reliable state of af-
fairs let us have no banks-new banks just now
are not only evil, but rery dOUbtfW sBecHa{t0a.
THE QUAKAKE RAILROAD.
From The Philadelphia North dne,tdn.
We published yesterdays report of some very IN.
teTcsting proceedings which took place al the animal
meeting of the Catawissa, NillamspOrt and Erie Rail
rad Company, held in this city on Monday last.
the report and TO follow upon the map the line Of the
improvement specially referred To- in II, must have
been struck with the tendency and value Of the Quak-
axe connection. What we have heretofore endeav-
ored do to public attention TO the Importance
Of the Catawssa route this short link OF railroad will
render matter of necessity.
The Ouakake Railroad is designed to connec. with
the Catawissa Road at the Summit Tunnel, and the
Beaver Meadow Road above Mauch Chunk, thus fol-
lowing the valley Of the Quakake Creek and forming
the communication between the two Roads. The
Beaver Meadow Road connects at Mauch Chunk with
the Lehigh Valley Road, which, by the eastern con-
nection forms through route from New York City to
Emira, via the New Jersey Central Lehgh Valley,
Beaver Meadow, Quakake, Cataw lssa and Elmira
Railroads. This will add very largely To the business
Of the two latter Roads and when the Sunbury and
Erie Railroad shall be finished, il will enable that
route to compete with the Newlork and Enc for the
Western trade of New-YoTk City. This Its ultl-
mate prospect; but soon a. it is opened the Qua
kake branch will be very important tributary 10 the
Catawssa line from the numerous and productive
coal mines Astounding in the Beaver Meadow
region. The Catawissa Corporation also owns
valuable coal tracts, which the Quakake Road
Meadow Railroad forms abrupt terminus
to the chain of railway extending from Phia-
dephia north. But as this new road Is built,
the line will be extended and form through route
from Philadelphia ~ Elmira by way of the North
Pennsylvania lehigh Valley Beaver Meadow, Qua
kake, and Catawssa and Elmra links. Ii is Observa-
bic also, that by this through communication south,
the CatawisSa Road gains tributary raversing
of the richest agricultural and mineral districts of
Pennsy lvania. 1t will enable the people of Mont
gomery, Bucks Lehigh, Carbon and Northampton
Counties 10 travel to Western New-York and all the
lake region without taking a circuit to New. York or
Philadelphia Cities. For Easton, Allentown and
Mauch Chunk such an avenue will be new and inval.
liable. This enterprise is but subsidiary to the Gaia
wissa Railroad. In fact, portion of the track
laid by that company many years ago. Ii will now be
pushed forward by the same corporation and in fact,
controlled by il.
We have laid before our readers mpartally all the
tendencies and objects of this undertaking, in order
that they may how truly this, like all other appa-
rent divergences toward York, must unavOidsbly
open new channels of trade for Philadelphia. The
coal mines which will be rendered available by the
building Of the Quakake Railroad, must lie idle If
that work be neglected The coal will find a market
III Philadelphia and at the same time the road will
give fresh value and importance 70 pee aiay work
the North Pennsylvania Railway We do not doubt
that soon As gets into operation il will contribute
largely 10 the trade Of Philadelphia and will once