The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-10-03
The rrosbrss In the Three Grent MONEY
Markets OF the world.

he announcement OF bank sni railroad panic In The
United states pccalGly mwelcome 81 the present mo
vhen doprtsslpg if cnco 10 exercised upon
osmmercal and monetary srarr 10 This country By ihe
attempted rcvceucp in India, ard when stn greater
slcS ~ Tet In snce i most Unusual circumstance
Tor the three greatest morsy mskeu o. TIE world 10 te
thus simultaneously stricken IN Fr0la1d, hTocneT, ns
9st q mercy ~ guis cfca'aior IN frano, rsrsn rora
sf,as % .n 1ass" +. SSa ssm r. ,se % rT,sr ,T a.y % -
lures Gnda0ovs ha IN Fra~os, but gts tss digereioe-
nat pe rca.rrri p nearr he tu.faee n hinn We hsye
Spectator 70 get r,h Thai speculation shall begn
extra, qance seems 10 be law OF nature, for what s
ssy s..S rsSs ,ss1s ~ me ,, ,,s us,n ,',ssa s n
striking q feature Of society both In Pssis ami New
York We In London sro quite sober By comparison.
For hs root OF oil this We mutt look mainly 10 the fac
lies acrdss 10 speculation BY The modern mins FOR joint
sxek enterprise, especially In the direction Of railways
Ensiand we may bope b. pssscd through her phse o.
tal, and the lesson has ocen bitter that thsre rot
ue stteu fear of her again eyceedrg prudent nin FOR
. very lorE period 70 come. In fact, The mers mention
i sss. =, y ,nr rs %.se srs. s,,ou M
their Pockets In hate, unless liberal guarantee from
rortr ulcompany, or some sim arly ponsl induce
msnl, tshcld out Subscribers 10 Ecslsrd win scatter
lbeY money W the rour winds Of hestep, and construc,
fslvsys for apy civilized nation Of the earth, but tn
idea q Ms.ns frsss railway. ., home snsr the s.Ps.
experience 10 such proportion OF the f3oo, ,ooo, 900
STIRLING and upwards already expended ~ ha, bcsn
presents oher coun,r.s have ye, 70 pay for their rail-
read experience and the price viii probably, In many
Instances, be high one W late years France has been
reresedly the verge OF serious ancal embarrassment
through investing 700 largely In earth works Ia Amercs
The establishment OF The railway system has led 70 pcrod
oay recurring psrcs all inferior In severity, howe rer b
the present Americans refuse allow that they have
made their railways VOC quictiy, Jet how ofsen do We
hear them ocrrssrg he number OF miles constructed IN
the states with hose srecu,ed By Europe and bossng OF
the superior energy and enterprise Of their fellow couny
men Afsr making allowance FOR the comparatively low
cost o. The American railways this very Comparison
sufficient 10 induce apprehension TIA, young oommu
nty Ike the United sstes, whose uionitd capacity
yt, far below thai of Ensland France has Ne
leeds of the present difficulty through undue haste In rail-
way construction
Br This 10 only part OF the etil Amer the American
rswsys Rave been completed, the stocsholdeys, ~ has
also happened In rresns, have exhibtted censursble
degree CT apathy By tn,russire the management In msny
cases, men q srsnsr pronounced speculative tendes
oe under whose gudar &C perilousy Ian system OF &C
cN nts has grown up. Hence ha arisen large mass OF
fcsrR debt, calling fer renewal per odicsly Whatever
may be the state o. ihs money marhet Mapercd of
rsnc fe the present there 10, consequently, c'mplcle
scramble for money the part of such ralrsy corn
psnes a. may happen e ssnt funds - meet Hsolllues
falling Cue. Wat Can 30 imsEired Ecre escre liable y