The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-10-24

msae the o<i amekds IL lis ecwsr, sad rssign
at cree
7hs KHset u our EanAac,ai G.lsls In Eng
Hand.
We continue to pub,isc extracts from the Len.
Don rsre's, rehscting British oeicicu on the
cribs in his country. TIE guerra. orinion ia
that orr troubles were crly Temporary ? aric,
al shat they would soon blow oyec. A few j1-
dioicus writes sesm to havs fcre'eer tha. they
would probably lead to 3, export Of specie f,ors
Gtts! Britain to this country, aid this at the
tine above all o'hers wten the British require al
the gold they have or car get fer use il Ind;s
And one or two newspapers hat ON nou,.y that
the eay OF payment Of tie debts due By Anesi-
cars to Enslsnd is nov irdefc;te.y postponed.
Blu! as 81 neral rule, 20 leading snsn,ial sgtho
riiy stems to Lave conceived the possibility of
such tornado a. that which hss suep. over til.
county dulirg this month Of October.
Indeed q. the time these articles we're written
the English had not received by any means the
woIst Of the news from here. By reference 90
tie table Of fsilurea which VII. BE- found sl-e-
where, twill be sssn that the sRscens!oos witch
pIece dsd the moI.h o. October were noting in
comparison 10 these which have taken place dur
| ing that mouth The English were oily in pos
session Of he news Ct tie preliminary paas which
preceded the hurricane. They coU'd not forassc
that almcst every house 10 extended busiEcss
throughout TIE country would break aud TIA; I'll
tie banks would suspend epecie pa3neots.
We must not therefore presume to console
ourselves with any futile ,easontcgs as to the
| slight effect Of tie CONFUSION over the xa'er--
based on the easy and almost Indifferent tone Of
the papers that we have before Us. Walt til
they have the news which went out from hare
On the l4th and 18th OF October--sad then i. will
be time enough to see low they take it,
The Simultaneous movement Ia bank rates of
interest in oil the money markets Of Europe shows
that the wistst hea6s in the financial world f,-e-
saw the struggle which is about to begin for the
possession of god. Germany is aiming agaiast
France, France against E6s land, Easlald
against the world; al! are hoping egAinst hope
that We may Jet come 70 their relief Ti,n re-
mittances Of bullion. When they fed taat aot
only is there 10 bullion to come from this side
but that they viii absolutely require to send ~
gold to get cotton to. keep their mills sgoit :,
ard bread to feed th=ir people, the specie scrac,-
be will assume lew and far more thrilling
aspect. How high will the rate Of interest rise?
Will ary rate prevent the stream Of coin tom
cbeyipg lie les Of supply aud demard, add
pouring in the direction OF India on the ocs ,'ds
ard America on the other? viii i, not b. vase
time for tie Ecpssor Of the French to III 70
Withstand i?
We are told that 40 additional source Of ua-
easiness is TIE general expectation that Ercp.an
capitalists will be tempted BY the high prod's Ut
feiing to use their means here. No d1ub; they
viii; 10 doubt, wnsa al co,ae to the worst, =
coytIy viii est in scenes. hare. But, If ;ais spe.e
struggle reaches climax if the Bark of fcaace
susperds- as We believe it will be nothng i.ss
than miraculous L she dots lot dot the heavy
bakers CT London sIe found to succunb 20 tn.
pressure and disappear from public view; f. ia
void, tie disasters Of our October produce ao
1T ct at all proportionate to the effect produced
by those CT September, where are the Loldou
capitalists who can afford TO speculate in Anal
can securities at auy rates Of profit.
Tie distinctions drawn by some Of the English
writers between the crisis Of 1887 and that OF toe
present day are in come respects correct No
doubt the bank note circulation of this and tbe
bulk of tie States IS far better secured at seat
than 1t was twenty yeais ago. and the loss to the
country from that source will he proportionately
less. But the railway more than make up the
difference. The amount licked up in unproductive
railways st the pieselt noment-and which may
be said to have been wiped out as with spoose
is very much larger than that which VA sunk
in banks. What ne country gains therefore by
the greater soundnets Of the banks, it will lose
by the larger amount Of DEPRECATED property Of
other kids. There is perhaps lessrea ro.teuuess
now than there was lhen; but there is vastly more
expansicn, which In times Ike these, answers the
same purpose The English will probably ird
at the pre..nt ciisis viii cost them more THAI
the Last.