The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-01-24

relation to those causes Of the crisis, which are how
ever, the real ones. He prefers attr1butng II TO
what he calls the vicious system of the banks and
the issue of paper currency which IL SIMPLY an argu
ment Of words We do not pretend that everything
is for the best in the organization OF the credit esa6
lishments in the United States; far from that. we
believe that there is much to improve We only desire
to say that it is not by an excessive EMISSION
Of paper currency that those establishments have
become responsible for the CRISIS and the PROOF that
those crises occur without any issue OF paper cur
rency is presented by what is taking place in Ham
burg, where there is no bank issuing bills and the
crisis of Hamburg is however not the least violent
of those which have occurred in Europe.
The banks of the United States are responsible IN
another way, because they have badly employed the
resources entrusted to them-becausc they have IN
vested in real estate capital which was to remain
floating one; and also because they have discounted
value. values which were not worthy Of h IT, ,n toT
States responsible for the crisis. Ana u
is not by raising the minimum OF the
amount of one dollar bills to twentys, and IN stpui-
atng for third the proportion OF the specie WIN
the fixed circulation nor even in making BANK
rupt aw-means indicated by the message--that q
remedy is to be obtained for this condition OF
things The best remedy would be the control OF the
use OF the funds which the banks have In hand. IL
is in a judic0us employment of those funds that
good financial administration depends it is to tins
that we to look for the principal guarantees If
they can be found; the rest Is only accessory.
Besides the remedies which he proposes, the
citizens. Patriotism, in financial matters, il small
guarantee for protection against the excitement Of
private interest and against the seductions OF specu
aton. If the legislators of the United States have
no other means to propose fear greatly that the
crisis to which that country has just been subjected
will not be the last.
The American Institutions Viewed by n
semi-Onicial Organ OF the French Govern
From the Paris Constutonne Dec. 10, translated for
the New YORK HERALD
There is no kind of surprise boldness of action
which Europe may not expect from the American
democracy. Sometimes it is a well known chief OF
bandits who prepares, in broad daylight, an expedi
tion censured by the administration arrested at the
last moment, he is Immediately put at liberty, under
ball. the Judges themselves seem to conspre to help
him in his guilty enterprise. But, scarcely has he
left-thanks to that complaisant inaction of those
very officers who could and had to stop
hnl--than ships which will not overtake him
uselessly despatched after him; so that one may
inquire if the executive power of the republic has
been an accomplice of the brigand and has played
base comedy, or if it has only been powerless and
has thus deserved the contempt of the world
Sometimes it is great journal of the Union,
which, with surness that its eccentricities of
style render still more revolving makes programmes
and calculations out of all the laws of political
and commercial probty The unemployed it
advises to take up arms and invade neutral
countries. To the new dictator OF Mexico it
submits the following propOstiQn-"For long
time we have lusted after Cuba, for which We have
offered and still would offer hundred millions of
dollars; Mexico has thousand pretexts of war
against Spain; take Cuba, everything taken into
account this expedition will cost you twenty mil
lions of dollars. But we will buy your conquest for
a hundred millions; net profit for you, eighty mil
lions of dollars" Finally the same journal sees but
thing in the financial crisis in the United States
it il that they will benefit to the same extent that
England will lose ave are the debtors and not the
creditors of England" says that journal; "they
will suffer from our insolvency and We will
not suffer from theirs. Whether we pay them
or not, they have to buy our cotton, they cannot
stop their manufactures" In other words the
United States have thrown disorder and ruin into
the English trade but they will benefit by IT; then
everything is for the best, and one must rejoice at
the crisis.
In another sphere the free American democracy
offers us no less strange spectacle. We have at
several times already entertained our readers with
the complicated affairs of Kansas. There is quite
particular interest attached TO il account of the
struggle between the two parties In favor OF
or against slavery. Lately, in the elections
for the members of the Territorial Legislature
and for representative in the federal Congress- the
overwhelming majority of the free soilers indsced
the belief that the question was definitely decided
against the establishment of slavery in the proposed
State. All the American press viewed those cleo
tons in that light. II IL true that the constitution
which was TO rule Kansas had not yet been drawn
out by the Convention entrusted with that special
business; but as this constitution was TO receive the
appreciation Of the people, and the peoples will had
point was considered az settled But there pro.
baby in the republic of the New World means Of
accommodation with the fundamental law OF the
majority. In fact, this is what has happened.
In the month OF October OF last year, that Is to
say, when the slavery party, although in minority
was master of Kansas by violence and terror, lie
gislaure had been elected without shadow Of
legality. The parszans of free labor sure as they
were that force and fraud would render their efforts
useless, had not even taken any part the elections
Out OF this Legislature, having sNch doubtful
origin, sprang in June last, % convenl bn OF sixty
delegates which met in August and then adjourned
until the end of October for the purpose Of writing
out constitution. II is during that interval under
the supervision OF the new Governor-Walker-
whose impartality was assured, that the general
elections took place in which for this time, the adj
versarics of slavery not afraid 10 take part, and
in which they triumphed by an immense majority.
Mr.. Thscksrsy or Men Of the Road mud Me"
Of the Line.
Mr. Tbackeray presided on Saturday, 2Glh OF Deem
Der annual festival Of the Commercial Travellers
scho, In Liverpool Ia the u the evening, in
ferring this institution he said-I sincerely wish,
behalf my class he literary professon) that We
could boast Of anything as good wish that we had an
OF having send them about To schools as we do AZ an
awful When the respected Mr.. Squecrs, Of
"Do the Boys Hail. that he proposes tn take
limited number Of pupils should rather say, number
Of very limited pupils(s angh)t " not because be s IN
love with the little darlngs that he does - bat be.
cause be dcs gins h. extract profit out OF them. IL
always pains think Of the profits 80 be screw
ed out OF the bellies Of the poor little inhocent.
Why have not, men 81 letters, some such
ASSOCIATION that which you have got up, appcal to
my literary brethren, any 81 them are present,
whether we, the OF the line, cannot emaale the
Of the roadr (iiear, hear.) week ago, friend
engaged In my profession, making hs 81 90 year
showed the half yearly account Of his two little boys
school, These little heroes Of six and seven, VINO arc
at very excellent school whore they well aoi con
fortaby provided for hons with little bill IN Their
pocket which amounted the Of fIb for the half year
Now think OF this poor Paerfamlas earning his moderate
81 900 agar out u which be has life assurance income
tons support-for doubtless, we are all blessed with
these appendages-(a augh)-and with the heavy bills
~ his wife and daughters for millinery and mantus
making meet especially at their present enormous
rates and sizes. (Renewed laughterl Think Of this
burdencd man having 70 pay fI5 for one half years
schooling OF his little boys. iear, hear Let the gentle
men Of the press then To devise scheme which
shall benefit them you have undoubtedly benefited by
what you have accomplished for yourselves. I will mt
sude 10 the cducaiory through which you put