The New York herald., 1865-01-01


have abandoned Richmond long ago. A gianc'
at the map will show that his sacrifices 10 holt
Richmond have cost him the loss of all the cot
ton States from the Savannah river 10 Texas.
But what are all these losses In the eyes o
General Lee and his virginians compared with
the maintenance TO this day Of Richmond The
Whig Of that city says In behalf Of the rebel
cause:-"Our reverses are considerable. II
would be folly TO deny them. Even with
the loss Of Hoods army the confederacy is as
strong az ever" Another Richmond journal
logically proves that the loss Of Savannah I'm
mensely strengthens the arms Of Davis 1t was
good thing for him, as was the loss OF Nash
vile, vicksburg, New Orleans and other places
The "confoderaoy" will not 60 up till General
Lee and his Virginia troops arc required 70
abandon their State; and Lee Is the only hope
OF Davis. We conclude, therefore, that the
next move Of JefE, bag and baggage, willb to
Danyille, Virginia, and thatsuch Is the projected
enterprise which Is to 'astonish tho world"
Is Lee going to wait In Richmond the arrival
ofShermani We guess not
TAs Cascade Or Dlsoredit--Frsaoh OH Prices
and PaPsr Money ia 1700. Fl
For the benefit of Mr.. FCssenden, and the en-
tighten ment Of all croekers aud gold gamblers,
who declare that our couatry must be ruined
because bullion now rules high and prices are
extravaxast, it may be we'll to quote few Of
the rates exacted for articles Of common use
during the Cascade of Discredit" which marked
the decease of the French National Convention
in the year 1896. aud the lodgment OF all exec
utIvs power in the hands Of Paul Jean Francois
Barras, chief Of the Directory of Five.
The "Reign Of Terror" was just over, and no
further attempts could be made to enforce by
the guillotne the acceptance Of paper money
at par. Assignats were printed by the ton, aud
on certain days, 1t is alleged, the amount Of
new currency thus thrown upon the market
was not less than the sum OF one hundred mil
lions OF francs. 1t was under this condition of
affairs that we find the following prices quoted
as the ruling rates Of Partisan commerce.
For cord Of wood. four thousand francs;
francs; for straw hat, four hundred francs; for
necktie, eight hundred francs for q linen
handkerchief, one hundred aud fifty francs; for
five quill pens, three thousand tranos; for
pound Of common candles, ninety-eight francs,
and for all the other comforts and necessaries
Of life in precise proportion.
In those days, says writer. the woman who
cried vegetables through the streets earned q
thousand frauos of paper money in one day,
and tho journeyman who had oondesoended
to work an hour twas paid BY bunch Of
assigaats bigger than bis two 6sts." OF course
tho result Of this was that oil property holders
who had signed leases Of their houses or
estates, or lent money on bond and mortgage
previous to this depreciation Of the currency,
were utterly ruined the annual reat Of the
finest house in the Faubourg 81. German not
being sufficient to furnish its proprietor with
even days food at any ordinary restaurant.
1t was at this time the gold gamblers OF the
Bourse controlled everything-on one day In
the summer Of 1896 running up the price Of
the gold Louis to twenty. three thousaa francs
In paper currency. ''Ths brokers were at this
time"-we quote from the Censeur des Jour
nawr-"ths tyrants Of credit, the arbiters of
price; they controlled the pulse Of the expiring
public fortune, depressing. reviving, checking
and accelerating it at will. Tho value Of the
gold Louis was ticksted on the veal pics in tho
windows Of the pastry cooks; and tho pssssr-
by, who had read the figures ono thousand
francs at noon, might read one thousand Eve
hundred francs an hour later"
Az the same causes, everywhere and in
all ~ produce like results, We and
that th.s excessive issue Of paper money,
and tho consequent distresses to which
tho great masses Of the French people were
subjected at this period, gave rise to swarm
OF speculators, who "mado haste to get rlch,"
and were successful-at least for . time-in
their accumulstive efforts. Thus We read
that "olsrks, who but lately arrived in rags
from some distant province, now possessed
palates so pampered that their tables must
be spread with golden pheasants, with lake
trout aud with pineapples from the tropics;
they were drawn through the streets by twelve
horses; and some Of them paid two millions Of
francs for waistcoat" They were slse-to
their marital credit be IL remarked-so lavish
Of pin money to their wives that the latter
would spend their evenings playing cards
with million francs stakcd In each game
upon tho turn Of an acel This is rather ahead,
We think, Of anything yet related Of our own
shoddy or petroleum aristocracy; but unless
means be taken to check the "Cascade OF
Discredit" now threatening US. how long can
We hope to be exempt from prices, follies
and distresses similar to those which pre-
vailed In France during the period to which
our several quotations pointf
WHAT THOMAS OUGHT 10 Do.-It may be
regarded "a certain that General Thomas II
now free 10 move whore he plsases, and It IL
important that he should adopt such plan as
may be NEST decisive In crippling the enemy,
already bewildered BY their recent defeats at
Nashville and Savannah. He has IN open