The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-12-08

mel, not only TO concert common action between the
banks Of France and England, but having view other
objects likewise Some pretend that he is charged with
recommendation that the English bank instead OF Is
suing notes to the amount Of fourteen millions of govern
ment securities in holds, and afterwards only TO the
amount OF bullion in its cellar shall initiate the Bank OF
France issue notes three times the amount held
bullion Others that NJ Fould is sent to take the
advice OF English commercial to the advisabity
OF the adoption Of some system of paper money with
Paris (Nov 21) Correspondence Of Abe London Postl
The financial world are still occupied with specuatons
laws OF the Bank Of France. At all events there
TO be doubt the subject will occupy the attention OF the
sns ms On next Is
that certain amount Of confidence has been created at
the Bcurse during the last three days and sustained quo
tat0ns Outward events have certainly not added to the
frmness Of the money market The further failures in
England the continued tightness Of all European
as regards articles Of luxury. are not favorable to
an Improvement g Mdrchaudise,n says Partisan
financial journal "has been much offered and very little
demanded fall is the consequence" Many tcorkmen IN
the manufacturing tocns are o Of employ, and the rd-
rays are gradually turning of their iaborers IS calca
$50 900 hands Turn the great question Of the day into
any position you like and it comes thsthe high rate
turing thousands out of employ. Commercial advices
from Vienna have during the week. been of the most
gloomy character perfect panic prevails, which has
not subsidized by the concerning the educ
ton Of the army Failures announced from all parts
Of the empire, especially in Bohemia.
rHE UNEMPLOYED OF THE UNITED STATES AND ENG
From the London Times Nov 23.l
II long since America has had to pass through such
difficulties as at present bese her. The unbroken pros
pery the uninterrupted progress OF the New World has
long been subject OF pride for the republicans aud of re
proach to the monarchies of Europe. Indeed, America
has been ortunate hardly have had history in
the modern and somewhat sombre of the term.
While France, and Germany and Italy have been con
vused with revolutions while Spain has lost ships Colo
MES commerce, name and dignity while England
though growing rapidly in material and moral power
has had fight through instructions
and 'srikes, through the obstnacy Of party and the
prendees OF Glasses, America mas seen tne way
and occupy to plant and the increase to educate and
receive the blessings Of education Indeed so few have
been the trials of the republic easy and assured its on
ward march, that the people have become weary OF their
very happiness Much Of their occasional irratablity
particularly towards Engand-much of their desire to
turn every conversation into channel which shall draw
forth compliments to America and her institutions
much Of their encouragement to busterng and such like
excessesarises from feeling that the countys history
is hardly great enough for her. Prosperity not sui
Gent substitute for glory is not enough to conquer the
wilderness to build vast cities where the Indian and the
panther wandered within the lifetime Of still young;
the American people TO tire of this monoonous and
uneventful prosperity of the unclouded sky above
them and the unbroken smoothness of the path they
tread
Such an event as the enforced ideness of multtudes
who depend their labor for their daily bread
thing on the American continent We who have had
in times past to suffer from such caames and who have
great numbers among who in or sickness
have but public charity, well feel for the
misery with whichs the population OF the Atlantic cu,s is
threatened lne lrlSn Germans, VINO NaO-
rty of the aborng class, are hardly more provided
against the storms of fortune than their brethren who
main at home They earn more and spend more; they
ncomparaby better of than in the villages Of Con
naugh Swabia but they have hardly in the first
ration contracted habits OF saving and boarded enough to
carry them through winter OF bankruptcy and suspend
cd works The American papers announceda few weeks
since that some 40 900 men would be without occupation
in New York, and that a great outcry, and perhaps
general rush southwark would be the result BY the
last mails have a description OF the scenes which
now Represented in the CITY "Hunger meetings have
haap N Ehi hammers hearing
the device "Work DEATH were carried in procession,
and the multitude has been addressed by orators who
proclaimed the duty Of the community 10 provide work
and food for its members. II may indeed be mockery
10 preach political economy 70 starving man, but still
certainly true that the knowledge and capacity of the
working classes very much influence the arguments which
used such occasions In this country the arzans
even in the very depth Of their distress seem to acSnow
rich, little talk about the tyranny OF capital and
the rights of labor, and never an incentive
forgotten that the American cities contain q population
which has been educated in other principles, and not
accustomed TO let its acts lag far behind its desires
From the Partisan workshops, from the democratic dis
ricts OF Western Germany, from switzerland and Italy,
have gone forth bands OF emgrans who have notions OF
property very different from those which native Amer
cans learned from their progentors The right TO work.
to food TO luxury to happiness has been preached by
philosophers and attempted to be realized by statesmen
in the largest capital Of continental Europe within the last
years The spirit and the doctrines which have been
suppressed In Paris have free play in New York. and we
cannot but fear that extreme distress 10
upon the continental emgrants and their impulsve Irish
brethren, scenes OF violence might iOiloW winch would
require the serious interference OF the State
That this interference would take place promptly and
enecuay cannot be doubted We have no fear for the
peace OF New York and Philadelphia nor for the speedy
restoration Of employment and welbeing The worst OF
the crisis is already past confidence will soon be restored
the vast produce Of the West and South will bring wealth
into the country, the merchants who have fallen will
spring up again with true American elasticity, or their
place will be taken by others: mills will reopen work
will resumed on ships houses docks in brick
kns and in another twelvemonth the panic and starya
ton Of 1857 will be forgotten But still il possible to
l1aE nj m in nc m
in the communys strength to overlook the suerings of
individuals We cannot but sympahizc deeply with those
who seem likely to undergo term Of great distress That
the benevoence Of the prosperous may be counted
TO relieve the want that will surround them Is probable
enough that It's powers may be equal to the task is our
sincere hope
From the event however, il may be permitted to de.
duce moral, or rather principle The destituton of
the Atlantic cities will remind the Americans how much
their social condition is tending TO similarity with
Hence, when they hear 81 poorhouses and begging and
strikes" in the old country, they may learn 70 look
with more indulgence on their neighbcrs with
presumption on themselves. The fact which all recent
history is teaching Il the supremacy Of economical
! over political laws. Forms Of government have, no
doubt, their effect mankind Far be II from say
| Of governments That which is best administered Is
\ best" Liberty OF speech and action alone make
tons permanently great; political slavery must produce
in those subject 10 many OF the vices Of slaves and
| have it, hour OF downfall. But If political instiiu
tons influence all that makes life worth having they
hardly touch life itself stu less can such differences Of
government distinguish England and America produce
the great dissmarty OF the working mans condition
the two sides Of the Atlantic. Wherever the population is
crowded and the occupants dependent traffic there
must be periods Of distress and disturbance, in which
cry passions nourisbed and the lessons OF common
sense and experience are forgotten The northern sea
board States Of America will probably have IN their turn
~ struggle against many Of the evils with which this
try has valisntly baed and, though they viii enter
into the field with greater advantages than ourselves yet
their watch be unceasng and their resolution Arm
There is however, power in the Americans Of smaga
mating the that among them, which gives
that they will succeed with the most stub
born materials which Ireland aud Central Europe pro
duce.
| From the London Post CITY Artcle) Nov. "a
| There has been good demand for money today but
an easier tone has pervaded the market and FIRST class
paper has been more readily discountabe than tho
case last week Tho value Of money, however, Is still
fully up TO the minimum rate charged by the Bank Of
England, and long dated paper Il negotiable only at to
| = per cent higher, and a commission v frequently
charged In addition. The intelligence from the United
States and the prospect Of the stock Of gold in the bank
vaults increasing, together with the absence OF
l any nf faf nj pftudn hara sod