New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1862-12-31
4 New Bubble.

The kabifans Of Lower Canada are intensely ex-
cited by the hope Of suddenly becomugr rich through
tho operations of a Credit Fonccr in behalf OF
which a certain VI. de Bouchervile is securing the
country and holding public meetings. Last week n
great Provincial Convention was held at -. llya-
cinthe, which formally declared that the Credit For.
cier was the one thing neediul to make Lower Can
ada prosperous and wealthy. The Toronto GIobe
ssys;
Abou three hundred and fry person. pre.cn, the
Convrntion. o. whom hundred ioclo5ins eleven M M
eSoi fNaneni hii the nsulef registered - delegate.
lweyfour counties and IL oer. which
declarations OF their sdhoon to de Bouoheues project
Such meeting cannot bu be regarded im poftant vne,
since the which adopted undoubt. y DO rc.
upon TIC attention q Parliament ~ ' nppfoschiuT s..on.
.hi thu the people Of pIe Canada hoai lko theI.
selves iannltr With "kai % pfoposss
/ Iie scheme proposed embraces
slk bch shall give the hab IA' the uri'y OF their
fans, uuncd supply Of money At low % .eIssi.
srAirs Yund b~.nf ID the time provided ~- .i,!
etiusuh intebisiuss he md on nsfod fssn,y
OF Of MY yeef. be agreed upon t that
4 his loon v,re confsffd upon the fsrnea 81 Lower
Canais M ~. pfiss,ion. and hlfi'-r' would '.te Th-
csplsl investment ~ the low fscs a. sch y g
thought ue tahIa' car Prohitly borrow And the grnt
feature 81 the srhsus proponudrd BY VI D. Bol-Lee snf
ID q rd ~ tie - Hyscu;hc Convention. BE- The it
provide suuounuus THE obstacle The 1d 9th d1'en'
he bsrs 'nc bond. ,rsr-,erd by he Oo'efnmsn,.
tn amount o +liO Tho 6ovrumcat ruarAn'ee siiI
insure these bonds being ,skst oy kr.b espa & loo
Interest, which, With tho edition ~ cent hr ssi.
log snd another or -. cent for srtnr fund
viii represent eli tia. tue hdta AL have 20 sT Tor he u,s
of vhftrvcf mercy b. within tae limits 10 b. ssi
mated ~ bic fem. II the Upper tansditns 10 .s.-
them 90 e.tAbshng Love- CAnrfa Credit foBcrT" Gu
this ba,s the Lower tatasisn. prmie er fars TO
,st In e.ab hmsni Of smother r Upper Gds which
would involve 10 tie credit 10 Bs Boz proportion 10 tie
.on another Gosenueut sualArrr of ll CO.. 90.
rg a total 81 +yO,rf,W" Wlifh a.. ~ Ifa1.nthe
Convention proposes 90 ADD 20 tie existing DIT Il me
1t is hardly possible that the Canadian Legislature
will .cgi.'ize any srch wild scheme rs n here
proposed With it, present debt of $1,000 90 the
five PEI cen, bonds Of the Province arc already
below par IN the English market. An addition OF
s5O,Oo), 900 would probably deprecise their value
10 a runou- point. Banking real estate basis
was tired in ths State and utterly failed. Hardly "a
bank organized under the old Free Banking Law
realized more than 80 cent? on tie dollar irou that
portion of lie securities when it came TO wind up
ts affairs, although the Bank Department issued
currency only TO half the estimated value OF the
property. Now the banks Of New-fork are re-
quifed 10 deposit the amount Of their circulation half
in State and half in United Statos stocks With tho
Bank Department at Albany
The only result which this CANADIAN bubble can
accomplish, supposing il TO be carried into practical
effect. will be 10 rob Ibe simple hsbiians Of their
farms, rstead OF relieving them OF their detress as
has been too sadly demonstrated by the operation Of
rimiar schemes in France. TIE Gio6e point lily re-
marks that
1t money low rates o. incres' that The fIenel
Cn.d far-rr are need o. To lend them money would
oui, Ia 10 bnen ler ruin. What they went l. something
oil mt md eneri.e aud arieultnra kno"o1.n
BY which uppcf Canadian former, secure p '.Pr,y
with .u Government did The h1b0Ha ny uead'n- IA th
beaten Path IN wh,h their ior'iath-r od before 'hem arg
r.uinr isnofAnt oil he p.gemfuts IN A;nc culture Sh'h
Al, the .bi.hf-rrd farmers Of hr present Gay nave sHo''a
srs quite unable compete with the asriebHin ~ opP'
an , u. .lL.lius Stses, and eau saiceJ zee '""i
I'D pv t,seths their badly tlled und fahs"
Vi.t ~ hILiaHs Of Lower Canada require y NE more srH
5.on o. education know ledge Of modern improve
nf. fu srt ultuge and wi rsnes 10 arp hon hhd .he
OF ood breeds cattle WIN ilioins'i,h no"
20 keen The a. dttefi0fa'ipe Ia sh,i N""' 10y nv ~
do l. 10 grouse themselves from theif oo'n'' 49,
,t-..y ana 10 81 abreast with tbo age u thrb iN7h'
good rrone effort IN this direction VII 40 t'' 'no H.
d uoe good hsn AN result hoin e agit,i" Oh We
III .ss AMI intrccnhls Credit f0rc.'r schsniS Win
yici they are now permitting them'l'es 10 De oeu1eo'