The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-05-17
: lidANC.Al AND CONNER GAL.


HOW - y = q X 70 IT.
SUsDAY, May 1916 p NJ
FiBsDctal sn.hs generally drag heavily. There ID no
activity in legitimate iegiamats transac ions, and
pFices tcf everything in The way OF trade and specu.ln
remain much depressed. The lssion Of bullion 10
the bsnks, the reduced rates ruling for money the
seet, give inresus to business, and AL glasses ara
working algg with view ~ the contraction aud redac
ton Of optrsscrs end expenditures the only true and
sure me 'hod Of s1tricatps themselves from existing ea
utsleme IT'S np about months sioce the noan-
Gal panic cuminsts3. Within that PERIOD great progress
has been made IN clearing away the wrecks Of the eva
s.or but the orger viii be required 70 place upon
eouDd anc substantial bottom FOR future operations.
We must nos oox for In mciAso restoration Of
ndence and activity II required years afer the financial
revrsion 1853, bring about eshy ortairgsia
ss nercal world rcsore activity ~ trade sui
expect 70 90 much hotter tnis that all the
sier en's Of prosperity generally fused
that the grea, Interests Of the country are whole in
better conaiaon-tnst the currency sound ana well
secareo'hs. the amount OF gold Asd silver bank and
IN circulstcn ~ nnch ,sgcr-tnaf the country Is much
more widely exceeded, snc the " municlon
afford comparatively extraordinary frfes for financial
and CONNIE. cal intercourse but DO borne in mad
that the revus'on Of the felt OF 1857 the
fatop IN public and private credits Of several years q
ihe most lees specus.onof the long practice OF ex
savHeArce in pubtc and private expenditure, unpsese
5ehteo in cur history, sed Of series Of fsaais swnt
Ing opc asore among corporation olpss, ooVtrcg mil
lions AID tens 0, rl.ons OF dollars suCh dit ties apd
disasters, such corruption ard desperation, such ROT
ten credit sysens, sush loscs add sacrilcss can
not he recovered from Ia day, mouth
or o year, and we must make up cur minis 10.
lorser period Of probation by industry AID ecOHomy,
~ corti action and qaoa,n, by oompron AID bank
rup, laws Anc oil tho noces Known 10 the different codes
A. -. NJ
for the future Is well thu, rcs,ye-y cAanoi be other
we Than sFasus, or We shopii emerge from one
Ievukon 10 eet ss dsop lnto aaolher la 1897 hal
~ ic tnstes IL all kinds TO contend against md the
opersuots Ct tne government Ia framing And hxlng la
AIaEcia sd commercial systems seriously retarded tae
recovery OF pobo confidence. Our currency a,
time IA s~al conci,on, aud coufusios regnsdo over7
department O. rsae an finance. Fsequost apses
hertf,rs realized thu return Of 5easr mes as
MT until alter Of Trial AID porse gsauco that tao W,
ward and onward movement fairly sslablsheL A
very crrcn, rsss of lnss exists at ths pTcss1S
We navo ro~ vtry serious eni,uy oonoo1 against
The fnanc Of the fsies sJyernm-ni are 80
distinct from taoso of TIE conrasscal cascs thai q,
Danger 70 DC apTresoadoi from that pon, Tue txiIs
fairly adjusted No intSrcst complains has cause FOR
ocmplart TIE tpnkrg Systems az ID, aIsren. s,alel
fre, general Thug, satisfactory. and ielse exis
10 rhango thsm Ire currency n found an1 tie bill
with hnon, and -ouii Ike nothing better hAn 70 pul u
MO circulation. Whist la.e business IA doing 10 good and
suhstaaisi, and generally upon . cash basis Our im
ports have bean onormousy reduced, sad The reduction
" iul sonf on; whls exports arc we'll Sustained,
even In The sDserce OF important foreign demand for
tro4attuns. Many BREACHES ~ industry have partially
recovered fIcm the prostTailen and are srsiu-
ally gslDiSg strength The crops are likely
70 DC proitc and The agricultural interest Il IN q fair way
Of being restored ~ Prosperity Every coDsunirz
cd supplies, Inateai OF rgBtDg deb, for no~ and in
he wsy ibe mistakes Of the past fssl being o6eraea
We he risht hack, al,houga our progress for
tme most be SLOW; sua Il we'd that such q necessity
c1s.s. Our present course viii Dos ioAd us into dsa
serJus reispscs, and therefore every step eaced u
scSufe5 IL 3 myresaion usi another abundant
tsrves viii place ne OIL rsht L~ prices for produce
nek,y 10 rule for another year two The farmers
wil make up IN qusnuiy what may be short in market
value. In tnis way ihey viii make much money While
hey give mpe'vs n INDUSTRY and extend Tie csvs.
uor Of nn1s. The Foundation NE now stsnd upon
10 good and cur future prosperity a. people depcsds
upon The character srd strength Of The structure we ere
The oxportston Of specie from ths port week VA.
somewhat larger than asual, oil Be seen By the toll
lowing sta'enenfs--