The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-03-28
NEW YORK HERALD, SUNDAY, MARCH % 1853

the subsct, and is particularly intent upon showing that
the American banks had nos to stop their specie ssy
ments in consequence of an issue OF notes in
larger OF notes would have beeu pu, in
circulation than called for by the requirements OF
trade and the surplus would have returned 70 the
banks but thai the crisis was accustomed by the sudden
Withdrawal OF deposits which had been heedessy loaned
out Although, he says, he does not wish 70 panegyrze
the banking system Of the United States a reform Of
which has been recommended by the President himself
the reproach OF its having brough. the late
by facilitating an over issue of notes Is unfounded In
Whatever for instance, the Borough Bank OF Liverpool
Harkorts chief object s of course, TO bring the de-
fects OF the Prussian banking establishments into prom
nent VIEW ~ comparing them with those OF England aud
America he states the amount Of capital aud
deposits Of tho New York banks, which il would
existing a IN S Ss
provincial banks Of Prussia, addog 81" they have too
many, surely have too few" The Bank Of Hamburg.
had been weighed in the balance and found wanting she
had shown herself to regulate the trade carried
on al Hamburg and other places and ports In the North Of
Europe, where speculation literally wild, and colonial
goods and raw material far exceeding all possible de-
mand, imported and warehoused; the imports and
marks bsnco, lsboS s42S 900 eoo would be desirable
70 know how many millions were lost by Hamburg aud
the res! Of Germany in these mad speculsons The IA
ciles granted by inflated system Of credit created
everywhere arnca wants and Of luxury for.
merly unknown Goods out Of proportion to the consump
ton produced the rise of the material and Of
workmen's wages beyond the nominal state tho
ruinous consequences Associations OF every description
were hurried into existence the projectors deuded tho
shareholders with grandiloquent prospectuses, while
cosy buildings aud exorbsnt salaries TO frequently In
capable directors and managers swallowed up capital
taa ought TO have been sm 2oyca in promoting the OBJ
coat according 10 your CLOTH Was forgotten.
After this DEPRESSION, n. Hnrkort tho banking
system of Prussia. We'll managed banks, he says,
the finest supporters OF commerce 10 times OF difficulty
they inspire confidence collect the requisite from
all quarters. and re distribute them with rapidty But
neither the Bank Of Prussia the provincial banks full
al these the former has power but not the
will the latter has the will but not the power being for
hidden by Law TO Issue shares for larger amount Of cap
tai han million thalers each The Bank OF Prussia
promised much and kept little she entered the
market At The commencement Of Tho crisis with
seventy millions in notes that contributed more
10 the OF speculation than tho private
foreign banks The Chamber Of Deputies repeated
pressed government to allow greater latitude TO the pro-
vncs banks but without success and consequence Of
their being cramped In their capital the dividends could
not be so large was expected by the and
thus their shares at Is per cent below par who
those OF the smaller states Of Germany Brunswck Bre-
men, Hanover wemer. &c. whose nstes not allowed
to circulate in Prussia, selling .. from - per
above par 10 keep up the antiquated monopoly Of the
Bank Of Prussia government has long hestated TO
grant the free Development OF the private bank System
The smaller States, just mentioned Ia found thu
mistake, and fastened totak advantage OF it.
The festivities in honor OF Prince Frederick William aud
bis far young bride, Of which gave you full particulars
in my last report, have continued all throughout
the week. no! 4 Gay passing without souie
fresh fete or demonstration supplementary to those
that took place their public entry into Berlin On
Wednesday there was gala night at the Opera, TO which
only such persons were admitted had received Invi
tors from The whole house respondent with
diamonds and gold lace The nrst tier OF boxes was re-
served for the ladies' the second tier and the pit stalls for
the officers OF the army the stage boxos for the diplomatic
corps &C., and the few civilians present quite lost
in the crowd OF glittering uniforms The married
couple appeared in front OF the royal box accompanied
by the Prince and Princess OF Prussia and the whole royal
family. Many private houses and publio edinces
illuminated again that evening" though attempt light
the great fountain In the Insgarten failed account
OF the high wilma may well take this opportunity
Brandcnburgh gate which | enormously alluded TO
as as spa ~. . Sn electric Light .gpea how'vsr
efforts to make perform the parts assigned to and that
they were obliged finally 10 reaort TO gas the effect pro
duced by which quite satisfactory, although Of
course electricity was perfectly innocent OF IT, On
Thursday the Academy OF Sciences and Occupations from
hem strongly enough worded-to the royal pair fact
since their arrival addresses Populations presents
and forth, have been pouring upon
hem in enc uDbrosen torrent which IL only lust begin
ming 10 shsw some signs or abatement
On Saturday evening the long contemplated torch
light procession, came on about nine hundred stu.
dents and artists proceeding in rank aud file, with fam
besux in their hands from the Brapdenburgh gate the
palace where they presented TO the Prince and Prn
whom they treated 20 their famous song OF Gande
,mors gitur reared At the very top OF their
The Prince received them with great aabty, observing
hat no had been student himself (pro formal at Bonns
and doing the amabe TO them In the most approved sye
The merchants clerks, curious OF the honors bestowed
upon the Students made appcatonto the police to be al
owed 10 get mp similar procession, but refused,
such process being, seems privilege only enjoyed
by the SONS Of Alma Mater.
In this round amusement the King not taken any
share whatever. He has been kept quite n distance
and during the WHOLE time bis name has scarcely been
mentioned. He al Bevue on the morning of tho
Princess arrival and stated TO have been pleased
her ana 10 have spoken 10 her in his usual but
II this really the would only have been lucid
interval OF very brief duration, for s certain that he
has not been IN condition 10 receive her Thcre
can hardly be doubt that his mind Is rretrevaby gone
and believe those VIII sapguine az 70
bis ultimate recovery are now beginning 70 despair.
some little ctemcnt has been created here By
received from Kongs berg OF duel between Gen
Tcbur, officer Of high standing in the Prussan army
aud Lieutenant Jochman, In which the former killed
on the spot llebuT the Pruszian BougAud the mill
,ary head Of the ultra ariocrac faction and special
fsyore OF the Kings but had lately retired from active
service in consequence Is asserted, Of private AZ
fair Of very credable nature. The two antagonists
nearly connected, Peour's being married TO
sister and II Ia evidently family quarrel that
has leo 10 this fatal catastrophe. Jochmaus fiher OF
rather was, great merchant at Konigsberg, having
failed during the late crisis younger OF his q
lawyer, Is engaged 10 be married 10 Mile Wagner the
distinguished prmA donna OF the Berlin Opera,
BrRiIy, Feb. %, 1853
L1gisidr, Financial Dcb1tcsGV, from M, People % the
Royal Brid,--An Amusing Incident Of the Wardrojs-
The Laie Dperias-W ashington's Birthday-Oaosot
Banq,i,t ~ ne Cn,d Staes Minist>r--The Mnip.rior
Crisis in England
Friday the suspension Of the usury law, was brought
before The Chamber Of Deputies gave rise 10 an su
mred and interesting debate which extended over three
dsys, and only terminated yesterday There was but
little difference OF opinion TO the question whether
ministers were justified in suspendng the enactments
relative the legal q interest," being evident that
by 40 coiur they had contributed IN a great measure
clalng The pressure in the money market
the discussion turned almost entirely the point whether
~oud be advisable take advantage Of the preseu,
opportunity 10 convert the temporary suspension Of these