The New York herald., 1864-10-04

ssss oO0a0he9 - WV U4p0xuS00os ma soes
thcrs hes been another general since his time
who has conducted the war difersstly, an
with more success. General Moe Uelian, We are
aware. has nevsr heard Of General Grant--at
least we are led to infer that from his omission
Of Grants name from the number OF the M.
tonal heroes whom he praised 20 gracefully in
bis speech at Orange-but We had not supposed
that the Chicago Convention was made up en-
tirely Of political Rip Van Winkles Can It be
possible that that convention knows nothing Of
that part OF the war that Is hononble to the
national arms. Has it never heard Of General
Grant, Is that convention alss, like it, nomi-
nee. ignorant Of that great mans achievements,
and even of his nanes
The Coming FtnanciuI ssorm-rhs
Ctosd IA ahs West.
Financial storms and erisl storms have
pretty much tho same characteristics. A
northeast storm rises In The southwest, aud
whiris rapidly around, sweeping everything
from its path. 80 our financial storms often
begin In tho very opposite quarter to that from
which they we're expected. The financial
storm Of 1887 commenced ct New Orleans, and
came northward like tornado. Tho financial
storm Of 1857 first made its appearance at st.
Louis and the Southwest. and ragged over tho
country like a northeaster. The financial
storm Of l864-65 which we have long pre-
dicted as the result OF the imitation OF the
past few years-has displayed itself at Chica-
60. and will be coming this way presently
with tenfold fury. Those merchants and
speculators who have taken our advice and
are prepared for IL may thank the HERALD and
their lucky stars.
The reports from Chicago inform us that seve
rad banks had failed and others refused to pay
heavy checks. This caused panic amongst
under Flour. wheat corn. oats, rye and
whiskey fell heavily, and everything else in
proportion Then q mob attacked one Of the
banks, and proposed to hang one of the direc
tors; but the military were called out and the
director rescued. Here arc all the indications
of fearful financial storm. and our produce
merchants and -four speculators and bank di-
reotors may see what they have to expect.
How long will it be before we have
q mob and are obliged to call ont our military
These things are contagious, like the disease
which President Lincoln proposed to give to
every one who called on him. A man may as
oend ladder for a very long time; but sooner
or later be will get to the top, and then he
must either climb down or fall down. Our
Spectators have reached the top OF their lad
der. We have tried to induce them to descend
while there was yet time for repentance; but
they have persistentIy refused. Now there is
nothing left for them bat . tumble. We must
have fall in gold, fall in provisions
a fall 10 dry goods, fall in coal, q
fall in clothing. q fall in the butchers
bills, fall in rents. q fall in board, fall in
every necessity. comfort aud luxury Of life
There is no help for it, and there need be no
useless grumbling about it. We must all ca,i
down together. aud may Heaven help those
who are undermost.
We End most convincing evidence OF the
utterly wrong principles upon which business
has been conducted during this war in the fact
that our victories will ruin our merchants. By
some strange legerdemain our commercial and
manufacturing interests have been placed in .
hostile position towards our national interests
Those who have played this trick will now be
caught in their own trap. When any set OF men
suffer- It is in vain that we have warned our
capitalists OF this fact. They saw that the
triumphs Of our gallant armies injured their
business, snd that they made money
out OF our defeats, aud yet they
had not sense enough to perceive that
q business policy which had such results must
be wrong. and should be changed. The truth
Is that ell our merchants have turned specula
tors. Every business thoro1ghfare has become
a Wall street There has been a. much specu-
Iation in calico as IN stocks, 10 kid gloves as
in mining shares, in coal as In coal oil. in
segars as in railroads. in provisions as in gold
From the brokers to the papermakers, every
body has been gambling. Stewards store has
been like an exchange, with daily bulletins Of
the rise or fall Of prices, and eager crowds
around buying for the rise, or selling at whole
sale for the fall, At the theatres the actors
specuated for rise IN salaries, and the mana
gers speculated in tickets, aud the audience
rushed out between the acts to ask the price Of
gold, and send messages to their brokers.
There have been open boards and close boards,
and morning boards and afternoon boards,
and evening boards and midnight boards, end
down-town boards and uptown boards, and
STOCK exchanges and produce exchanges, and
provision exchanges and mining exchanges,
and petroleum exchanges and dry goods ex-
changes, in order to accommodate the specula-
tors, who rushed from the one to the other in a
furry of excitement. The natural result of all
this is terrible financial storm, which Grants
victories are Fastening, and for which the ma
jority of the crazy spectators are totally an
prepared.
When the tempest bursts upon US the poll
ticians will suffer with the speculators. They,