The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-10-09

The CRISIS "A HARVEST FOR THE LAWYERS :
WHAT SHOULD THE GOVERNMENT Doi-From the
financial and commercial troubles of the commu-
nifty the lawyers always reap q rich harvest
They follow in the track of financial reyulsion
as undertakers and grave-diggers follow in
the wake of desolating epidemic, or as
wolves and vultures follow the trail Of a
shattered and retreating army. So now, at this
crisis, when banks, railroads factories merchants
brokers, epeculstors. stockholders, and all their
appendaees, are undergoing the test of the cru.
chile at white heat aud when every days his.o
~ is but the history Of breakages collapses aud
failures, the lawyers are in the midst of per-
| feet jubilee.
YEA perfect jubilee in the lively work of
assignments, settlements, mortgages, titles, as
Gets, defalcatons, entertainments, prosecutions,
and what not. The military spells Of Ssbastopol
were enormous-the losses to the community
| from the shinplaster currency of 1887 were pro-
digious-the losses of the bull stockholders Of
Wall street duting the last two or three months
have been awful to think of; but the net gains
| to the lawyers from financial revulson like
this, defy ell computation They cannot be es-
tiDated-they cannot be coDjectured. Take
case, single case, by way of illustration: About
twenty years ago the North American Trust
Company went to pieces and the fees Of the law
yers from that day to this, in the settlement of
its still unsettled affairs will cover margin of
half million of dollars. But imagine the bust
ness-the bewilde,ing masses Of spoils aud pluu-
der-the heaps OF riches-to the wreckers, from
the iounde'ing of hundred ships on the shoals
of Bsrnegat in the course of single night !!
Yes, yes we are indeed in the midst of the jubi-
lee-the carnival, the millennium of our fioanciaI
wreckers, the lawyers, and God only koows
when and what will be the end of it.
At such crisis, how viewer, the general govern
ment, in its authority to establish general Law
Of bankruptcy, may do much in q well digested
and honest bankrupt act to bring order out OF
chaos, ard to put our mercantile, m Anufacturiug
and agricultural interests upon their feet again.
And as Ihis relief may be given with compare
lively tIifing aggregate loss to thecou1try, the
attention Of the administration at Washington
We trust, will be attracted to the subject, with
special reference to some special legislation ia
the premises by the coming Congress. An
honest bankrupt act, and other government mea-
sures necessary to the establishment of solid
commercial and financial system, have, in fact
suddenly become the subjects of paramount in
terest to all sections Of the country, and all
classes Of our people, and for the next year or
| two, at least, financial and commercial issues
will block the game of the slavery aaitators
Our only way to escape from confusion worse con-
founded and from shaving land sharks, wreckers
and lawyers is in our lawmakers; and from the
experience of the past our lawmakers may re-
heve US to great extent for the present, and
secure us for the future. To this end we call
upon our worthy President to take the initiative
In bis annual message to Congress.
REFORM IN TAxMANY HArI.-Tbe quarrels
belligerent committees of Old Tammany, from
the great wigwam down to the coal hole, have
been settled. Peace is restored Sachems and
Sagamunde, Piankeshaws and Pottawotomes
smoke again from the same pipe. The Ratchet
is buried, harmony prevails again, and Wilson
Small ard Peter Cooper, Fernando Wood and
Postmaster Fowler, Collector Schell and Sur
veyor Hart, Sanders, Rynders, and, on all sides,
the heads snd tails Of the unterriied democracy
are hail fellows well met, and jolly as a band of
brothers Good counsels and broad hints from
Washington have had their influence In this bust
ness, and there are only two notable Marplots
remanng-Dan Sckles and Dicky Busted.
Fer reasons best know to themselves they have
resisted to the death this happy fusion of the
factions Our readers, however, will hardly be
surprised to learn, in this connection, that this
furion thus opposed, comprehends the total aboli-
tion Of the rufisns and ruffianim which have so
long ruled our democratic primary elections; aud
that, in view Of shortboys and puglists, bruisers
and jail birds the said primary elections are here.
after to be controlled by the recorded members
Of ward organizations, made up Of honest and
rcspe c'able citizens This il what we call glo-
rious reform, and the reunion of the democracy
upon this basis will make the party Irresistible
against all coalitions. In view of this new demo-
cratic treaty of peace, the combined forces OF
Kuow NothiDeism and black republication, If
they should combine, will be powerless against
the consolidated democracy; for Old Tam many,
in her new clean ard Furnished regimentals, will
sweep the field.
TROUBLE AT WEST PoNT-Suange stories have
heep aioat for come days Ia relation to the mill
tary scacemy at West Point No full report of
the circumstances has Jet been made public; but
1; is popularity bruited that duels have lately
'sk'n place, as well between the professors as
between the students, and that the discipline of
the institution has been notably disturbed There
!. r,sson to fear that the foundation for these
stories is worthy Of reliance.
Under The circumstances, considering the i'm
meme Importance Of the maintenance of strict