The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-09-14

wal suee. engaged deeply in sssck and had speca
kAiions u their several nesghboT hoods.
Tns old mode OF buying and selling FOR cash short
dates hAS be In some measure abandoned No sp,cua
lnsroe since ISIS In .hai year May dipped IL coon.
and hundreds SWAN osd In consequsncs. Al this day
oosioo rio Tobacco -four have advanced but they are
not tue snbscs Of mad speculation that real eatae and
stocks OF eli hindu have been In those AFTER articles the
whole country has been md
The secresay therefore right In aribu.ins the pres
ent crsn 10 the wild spoculAuous In lands and
bot no does mot tell Ill the truth The laws Of Congress
Anecsng the tariff and the increase al tbuDg
and arc ys ri mated sa1 nus
dot; nothing can prevent H. But In tho process OF
storing the equilibrium oil weak bouses mus come With
blame they have ENCOURAGED shote spec ala,ons They
are, In fsct part and parcel" OF the evil.
from the New York Herald, Oct 20, 1886
Among tue mercantile community the Creates: s1d
deepest exctemen, prevails During the las. two days
only one failure Of any magnitude has been announced
TIA. CERTAIN arm bad been offered accom- noda,on., but
thought II better to como down The house, highly re-
spectacle oOe, again under way and We trust viii long
continue Rumors continually ad ,at, but grea,
should be taken in believing all You hear. The banks
mpy very critical position The least whisper coming
from them enough to destroy whole streets, Who hang
70 each other by endorsements like beef In search OF
hive. The failures thus far, are owing to reactions
in land specuatons The Losses by the great ore are just
beginning 10 operate In the way The greatest pref
sure expected neat month, AMI about the time that Con
gress vii Open
eXCemeut.
roar and confession A the meeting Of the Congress
than has been since the Of the revolution We
can GEO. from the quiet phiioso hca ready cash pchon
which We occupy. thai contest win then begin among
the landed manufacturing, banking and rcial In
teres the end Of which eye :su oresee no tongue
foreen The Lightning from afar jus, beginning break
upon the ob,use nerves Of the Wall journals The
long, deep peel OF this thunder wiz be heard bv and By
Yesterday the Courier and Enquirer and the Journal Of
CS0 were both ont on the present crisis and the
facts they to op cosite conclusions The
Courier cries ior more surplus revenue and Immediate
out for repeal modification of tariff laws and the
cxtinoslon OF evey and any surplus
For six or nine months has the HERALD pointed out the
very crisis fee-the OF II, and the
only remedy. There views and opinions have Al length
effected N entrance into the brains of the Journal Of Cn
n~ce but the CorIer permits In It's ignorance, folly and
impenetrable thickness Of head.
We are only In the "beg!nnlng or the end" The Wall
street editors are Both grossly ignorant OF the ,st pec
Piles or commercial science appear TO be led enrey
asAy by tue irerabe banking ins u,icns control
them The commercial system OF Englapd has gone
years, since the age OF Queen Elizabeth, when be,ame
q CON mercis nation II Is the nature OF every CONNER
ca system founded credit to have these periodical
actions. When paper credit is the u-rcncy either In
bank bills bills OF exchange, notes Of hand the
dent desires Of men WIN hurry them beyond true and
iuAt limit Speculation sometimes runs In one article
sometimes IN srosher. At this moment in England they
are hurryipg ward to- crisis Joint sock banks rail
roads are there the outward signs and sutsc Of dsor
der In This country We have banks and railroads and
real estate oil uniting 70 produce similar crisis When
there no check bat human Judgment, reckless Con.
cCnieoeRAcy,
run riot
The twadde In The Courier and Enquirer abou, the
"c,esis currency" the exchanges the present prices
the meest IGNORANCE ever put forth BY Journal pre-
landing 70 respecabty Even the crazy headed Epsnirg
Post Is more sensible and sane on these subjects tan the
laundering Courier.
What, then, IL tho remedy There s Those who
have traded beyond their means must break; and the
they break the fatal il will be TO, the general
run or business The country Is In critical cond
ton Prepare TO. scenes In the next Congress the like Of
which We have never seen All the active interests Of
fho <NS1nlrr fhavh LET .ns~s
man smphithestre The questions OF tariff OF bank, OF
revenue OF surplus and perhaps Of the Presidency too
opened up afresh VIVA. can expsc,, Agits ion
ssitAnor--agitsiion.
Prem the New York Herald, o. 81, 1885
In such . cras the present every scheme re
medy only increases for v allie the general evil Tine
only, With the best plans, can effect radical At
tro over every business IN Inc country With the sur
Plus reveue the Treasury can break every bank every
merchant every mechanic every who deals or Gre
dit No man 10 safe but the ready psope.
sncs the crss began twelve fkiures have taken place
In us city, ard PROBABLY eight extensions not
leaves more room for the solvent to move in Yet money
scarce and high. Commercial paper Is worth az
per cent month Mortgages on real estate are
ming into The market a 20 70 80 per discount Tnts
Kind Of securities 70 raise money increa,e for
present real estate 10 nearly unsaeabie Durng the last
month the vaine Of real estate has probably diminished
fsily equal TO the romna value OF fancy stock, We
speak Of productive real estate The unproducve which
S Sa e sso and are mSnea oi 70 ~,
ment no exchsngeable value
Bank stocks generally keep 1rm. This arises from i'm
prons which these institutions are making, By
lospirg money 81 INJURIOUS Interest through their private
broker The derapgemeni OF the currency and
oporNes IN favor Of banks and capitalists. What though
they curta,l-hey take care 10 make merchants Gay q
B. and per cent month, through their secret afenS
rhs the reason tha In spite OF the present commercial
crisis throughout the Union nnd general prepsr sous
mahlng 10 charter banks winter the meeting
OF The several Ieeisssur In Arksr sas the Legislature
OF which sitting, applications for 5000 oco
"A a are mil for he
ters OF So 600 already Banks, from toe system Of
middle men, make immense pronn; hut II the govern.
ment vas 10 break half OF them, II the surplus
under the laws should pjore business still farther, the
system may 20 10 percitiou.
tale are falling the prices o. all staple articles ana prov
slous higher Than eEer, and appearance OF de-
cline rne common neces ariss Of life are rrobsbly so
per cen. higher han when money VAT plenty. Bread
from the BAKERS 10 folly double what year or iuo
ago, Flour II $40, and no likelihood OF decline Large
quantities are imported from Europe at profit.
The present condition OF the United Salcs IL pheuo.
mtnon almost nerpicabe on the old principles Of political
economy We SEQ before usa mass OF Contradiction
every channel OF nfe and business 10 disorder and coma
sion, from tie eminent 10 the election pills Tnere
political social, commercial and economical cs1ses all
mo crisis Is not prsduced by any spss power or single
element In our social or political system II the INIT
result q legion OF esoses Who can unrsvei them
Who can give q clear history OF the psyf
Prom the New York herald. Nov. l, 1885
Worse snd worse The fancy stocks yesterday fell on
an average from 10 per cent
~
The psne increases people less anxious enter oto
new engagements Many men OF solid capital are Al
chor AMI the blow shall have psssed away Toe great
staples are beginning 10 be ane0ed In small degree
Tobacco during the last few days has fallen shade n
the accounts from EngAnd should represent the pres
sure ,rcrsarng there, fall viii also Jake phase 10
Ion Al present this Article stands 3rm, although ndoa-
tcns are seen and felt locking towardsk 'aiL Flour
and the other secessares Of life are SIN grm aut
changeabse
One 0. the causes which increases tue preseat embsr
rnssmens the suocou, conduct OF the large Vail street
paper For the sake Of politics, at The Suggestion OF
miserable politicians, they daily mysfyiug aad mis-
Representing TIE tue state Of things rney malicious
~ endeayorrg 10 widen the breach bet govern
ment and the banks; they beapsrg all soru ca
ny those men who orcsas the Storm and endes rored
% arrea iu rAvnEee. me structures OF he Courier and
Eng1-er Secretary woodbury. circulars are the mo
tgporsnt tvsdde hat ev1 came from the brains OF
The evils OF the present crisis nos from deeper sources
than pary order only affecting the sses OF lands the
amount Of " 800 900 81 10000 Ills not Of
specie This country has quite eroush Of specie n 10
pubic confidence that 10 vantng-pruderce and moters-
uou that wanting-ius principles in banking aud
merce that wanting n nothing else Will sscn 10
be prudent bitter experience must be teacher