The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-04-23

The week has witnessed q remarkable revival of
speculation on the Stock Exchange, which has ex
tended to all kinds of stocks and bonds. The ad
vance in railway bonds is more considerable than
the rise in socks the market has been sifted pref
ty thoroughly of the best bonds, and those who
want to buy good security Of this character will
soon have to pay for it. The demand for Erie
bonds, Toledo and Michigan Southern Sinking Fund
bonds, and the issues of the Harlem and Hudson
River has been particularly active. At the present
rate of consumption, the market will soon be ready
to absorb new issues of bonds and the roads which
have been embarrassed with floating debts will
have an opportunity Of getting rid of them. State
stocks continue to be much sought for; Mssouris,
Tennessees, Louisianas, CALIFORNIA;, and other well
known State issues, are growing scarcer daily.
Amongst the railroad stocks the advance of the
past week was pretty general. Toledo, Galena,
Rock Island, Michigan Southern, Michigan Central,
Harlem, Panama and New York Central are all
from to per cent higher than they were week
ago. The advance has been based mainly on the
revival in railroad traffic, on the ease of money, on
the scarcity of lucrative investments the revival
of the speculative feeling, and on the general res
toration of prosperity. Unless some untoward
event should occur these causes bid fair to be per-
manent and progressive in their operation.
The considerations presented in this column
week since, in connection with the disturbance in
the London money market, have induced some cor
respondents to address us letters on the subject of
the increasing wealth of the United States. Much
as has been written upon the subject it is doubtful
whether there was ever before period at which
the future promised largely as it does at present
The stagnaton of the past three years, the forced
economies practised by all classes, the cessation If
all labor and money consuming enterprises, and
the steady growth of production have prepared this
country for a start far greater than any similar
movement in our past history. We have produced
more wealth since the fall of 1867 than we ever did in
the same period before, and, including railway
building, ETC., we have probably consumed less
than half as much as we did in the years 1884, 1855
and 1856. The difference is an increased capital,
upon which we are now going to trade.
II is probable that the census of 1860 will show
that the population Of this country is not less than
81 1000, 900, including blacks. All of these are
workers, and ALL in times of trouble and poverty, can
and do curtail their expenditures. These are the
grand differences between this country and the ma
tions of Europe. France, for instance, with po-
United States, and the accumulated wealth Of cen.
turtles Of civilization, is not nearly rich country
as the United States, for the reasons that Of the
male aduk population Of France, at least 100000
are drones- soldiers, sailors in the national navy,
and public servants Of various kinds; and that the
great proprietary class Of France does not and can.
Rot adapt its expenditures to the fluctuations of
commerce, but goes On consuming just the same
amount in hard IS in flush times. These two ad-
vantages possessed by the United States combined
with our vast tracts of fertile land, and our great
staples, cotton and gold-jusfy the assertion that
the progress Of this country in the next cycle is
likely to exceed the most sanguine expectations.
When the United States have population Of
10000 ,OO0-say ten years hence, or perhaps
sooner-it may not be excessive 70 expect an an
nual export of $s00,0os,00O, corresponding inn
pert, An export Of over $50, 1000 900 Of specie,