The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-04-21

rIcArION-Evidently, the great use to which
rtvuIsions are to be put In tho social economy
Of the world is the publication and regenera-
ton of the commercial and the general CON-
punity. Everything. We know, down to the
sharks and rattlesnskes. has its use In the
economy Of nature; financial revulsions are
no exception to the rule. They lead to season
Of repentance. heartsoflening. reform and
amendment
A(s0 - revulsion Of 1895, which, for that
time was very serious affair indeed. there WIS
quite an awakening among the churches People
who bad been preached at without the least effect
for o quarter of century, suddenly acknow-
ledged the workings of the Spirit, and gave
public proof of their conversion. Morality re-
ceived an equally signal impulse. Persons who,
during the previous imitation, had embarked in
enterprises of doubtful character, were now
suddenly called to account; several were &C
tually indicted and tried for frauds which they
had committed during the excitement of the flush
times Such was the desire Of the public to
give material evidence Of their reformed nature,
and Of their desire to promote higher tone of
integrity In the commercial world.
So in 1887. The years of prostration which
followed that terrible catastrophe were the best
years the church ever had. 1t is generally be-
beved in pious circles that the increase of church
membership and the Increased attendance on the
gospel minis;rations which took place at that
time were caused by . spontaneous exhibition
Of the Lords bounty; the sceptical philosopher
may be led, on q review of the facts, to ques-
ton whether the Lords bounty would have
been equally eficscious if the banks had not
broken. 1t is certain that commercial morality
WAS q gamer by the catastrophe Of 1887, and
that the trials for fraud which followed the
break down were of service In purifying the
commercial atmosphere for some time after
wards.
We are now In the first stage of the effects Of
the revulsion of 1857. Religious revivsls in
every city throughout the North testify TO the
alarm felt by the commercial community and
to the abundance Of leisure which the stagna-
ton of business affords them. Every street in
New York claims the glory Of one or two start
ling conversions. Touching proofs of the
powerful operations Of the Spirit are afforded
By the character of the converts, who are gene
rally either hopeless reprobates incapable of
getting living, or persons engaged in trade
who we're ruined by the revulsion. It is graft
flying to perceive that Providence, whsse care
Of his flock is we'll known, has already mani
tested his concern for these stray sheep; several
of the worst cases have been supplied by pious
friends with means to start in trade, and many
insolvents have compromised with tenacious
CREDITOR after melting psalm.
Morality Is evidently great gamer by the
revulsion. Mr.. Thomas Allibone is about to be
made an example Of, in the interests Of honest
bank management; others will doubtless share
bis fate as soon as all the accounts Of the infls-
ion of the past ten years have been overhauled.
Mayor Tiemann IL purifying the city with iron
will and iron hand Lottery policy dealers, dealers
In prohibited literature, gift enterprise manag-
ers and the whole race Of swindlers who infest
the city are feeling the weight Of his authority;
in a short while there Is a chance that they will
be all swept out Of sight. The commercial
world has grown honester; even Wall street has
lately seen the operations Of the bulls and bears
legalized by act Of the Legislature.
When we talk Of revulsions, then, let us in
justice remember the good they leave after them
as well as the mischief they inAict while they
are passing over us.