The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-10-10
CANADA.
THE yrsAsorAL CRISIS IN eHs UNITED STATES.


Some Of contemporaries have been dis posed 10 view,
with Affected unconcern, the financial difficulties OF the
United States and their effect upon cansda We have
warned the public from the frs whs they might expect
and regret N DO forced 70 acknowledge hal
darkest ancpanons have fallen far short OF The actual
tent or commercial ruin In the Unted saos The money
article Of the INV YopK HlD Of Tie Friday iAsi among
other thing, says
OF all The gloomy days We have seen -Ithn he pas, an
preyo5sy sIDseseed a.. - noSns coDsrsS Win shs Of
dy fhe decline stocks since hs. ben lrsa.,
Revision menced A. he irs 6o,rd . dsy here Was
M ss s ssa % Il ss
ss ten for % si a.
py ai.rss mus, be suffering Immensely fr0n As enormous
The same SourpaI-and II unquestiouably speaks the
Truth In this particular nsanoe-rurther adds:-"A the
close yesterday anticipated ouch serious and sud
den decline, and knows bui that . similar move
may be realized 70 The sellers those
Who from actual sy, are compelled 10 rcazs any
price The sacrifices arc made no, 20 much by those
who are AFRAID Of further depreciation By those who
want money and disposed 70 eel anything they pos
70 meet their current pay men This shows what ma
terial community IL made Of and Ia such material
ths, has made city the metropolis OF the Union II 10
fearful think Of the OF such self ssorncc
and terrible 10 contemplate the result OF such deter
mlnaton on me part Of business men Amor all, II IL
better 70 this than 10 succumo 70 the nra
than 10 sli quietly and patiently down and see the
wreck going en- about Us, without making The hrst
effort resist the revuson BY thoes who their
way out there any such, suoh scrnccs are cheer
fully made but those who are 30 deeply involved ~ 70 be
cny getting deeper and deeper Into difficulties do wrong
70 exhaust their remaining substance without the probs
bity OF ultimate sucoessn
This simply ringing The deaih knel Of all stocks Ia
New York; and when 10 considered that fully twcnty
million pounds eighty million dollars, arc subsracsed
from the OF living OF The shareholders In different
oiBt stock pancs the suernSs and losses Of many
thousands may be cpceved and they being the bankers
and bank capitalists 70 largo extent In the Union mus
inevitably greatly embarsss they do no, bring down,
the chief banking houses In New York and so
s We understand the chief inconvenlence 70 our banks
In Carada has arisen from from their pursuing
asd selfish policy towards each other.
They have rushed into each Others aus Tor specie FOR
oil the bills hey could saher, and have pursued the
national policy OF each sting FOR ihe and not caring for
the stability the credit OF lts neiehbor. This mani
fey runous oourse and We believe the Board Of Trade
have viewed H. and taken 10 establish
rational oourse Of proceeclns In Canada want
money just nov 70 buy grain We want money, too, 10
&c, ont lumber We want meney, Ike wise 10 do the
drsry tsiness OF Improvement FOR progress cannot,
ard ought not 70 be impeded and IL aLimportant that
chartered banhs should stand By oher and Afford
The pubic all the accommodation they possibly can. And
sincerely trust that whilst stocks becoming worth
less In New York and else ~hefe, Canada viii maintain
her credit and preserve her sbcks and her
from becoming mere myth in Me money market OF The
world