The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1865-11-01


capital and capitalists This is the secret OF
their conduct. We leave the public TO pass
Judgment as to which is best for the country;
the magnificent projects and purposes Of Mr..
McHenry, Sir Morton PesO and their assOci-
ates, or the selfish schemes OF the railroad
STOCKHOLDERS who indsidio,sly assail them.
Return or the British Capitalists to
Europe.
Sir Morton Peto, MI. James McHenry and
some twenty or twenty-five OF their travelling
associates bankers, brokers, railway direc-
tors and capitalists leave this port for Eng
land in the steamship Scotia to-day. They
have had an instructive and delightful tour
over the great central section Of the Union.
occupying two months Of time, industriously
employed, and covering nine thousand miles of
railway travel The have been feted and
Toasted like princes from point to point, and
with q generous welcome like that accorded to
the favorite Prince of Wales. Independently
of their supposed financial designs, the SYM
pathies and interests in our national cause Of
such men as Peto and McHenry were sufficient
to secure their whole company cordial recep-
ton everywhere among the American people,
Starting from this city, the financial and
commercial centre and settling house of the
continent, these gentlemen have seen some
thing of the commercial and agricultural pros
perity of our Empire State; they have in
spected the munifcent coal, iron and oil
regions Of Pennsylvania they have scaled the
Alleghanies, touched at Niagara and our fresh
water inland seas they have traversed the
bOuntiful valleys and prairies OF the
Great West to the Mississippi; they have
marked the wonderful growth of its to wns and
cities and endless network OF railroads; they
have seen in st. Louis, in the heart OF the con-
tinent, city surprising in substantial wealth,
commerce and activity any OF the past or pres
ent commercial depots of the Mediterranean;
they have learned from their trip to Harper's
Ferry that single central railway line in the
prosecution OF continental war is equal to
powerful army; and, from their visit TO Rich
m0nd, that the most extensive, elaborate and
costly lines of Notifications are useless when
cut of from the railways from which they draw
their supplies; but, above all, they have seen
for themselves in this country, from New York
to st. Louis, and from the great lakes TO the
James river, that there is a field for safe and
profitable investment Of money such AZ never
before has invited the wealth-developing forces
globe.
From these practical, large minded and ex-
perienced business men, seeking new fields for
the surplus private capital of England and
France, we may confidently expect important
results in tie development Of our vast re-
sources of wealth and power. We look for a
new immigration into this country, not confined
to the lab0ring people of Ireland and Ger
many, but embracing liberal infnsions Of Euro
pean capital, in great railway, banking and
other financial enterprises. We expect that
the old humdrum system of our financial ex-
changes with Europe, as managed for many
years past by the Earrings, the Browns, the Bel
monls and the Rothschilds, will be superseded
by new set Of men and new system, more
in keeping with the active and progressive
spirit OF the age. We expect to see the old set
of international bankers Of this city, who have
UCCUmC uuu pCuuttOuS 10 tuUy
have grown rich busted and cast into the re-
tired list by new body of iinanciers who do
not measure their Investments by The old
Frankfort doctrine Of shent-per-shent. There is
also good ground for the opinion that our pres
ent railway directors Of such lines az the Har-
lem and New Haven. Hudson River, New York
Central and others, will be driven from their
stock gambling operations in Wall street to
the repair OF their lines 10 something like the
European system OF safety to human lifA or will
be compelled to yield them Into other hands
Finally, as the browning result OF this late bust
Henry and Company, we have the prospect OF
such accessious Of active capital from Europe
in our public improvements as will materially
facilitate the movements OF Mr. McCull0ch. OF
the national treasury, in view OF an early re-
sumption of specie payments. The moneyed
bonds Thus falling into English and French
hands will be additional bonds OF peace be-
tween their governments and ours, and the
work OF diplomacy in this view will thus be-
come very simple and easy.
This was the ruling idea at the farewell ban.
quet in this city OF Sir Morton Peto 10 his four
hundred guests. We wish him aud his asso
cistes pleasant voyage home. and that il may
not be long before they return TO these shores
to put into practice some Of the great financial
enterprises suggested by their interesting and
instructive American tour.
AS0THER New RNa FogsISe.- recent
ring between Thurlow Weed and Fernando
Wood having been broken up and repudiated
by oil concerned, another new ring is 10 pro
cess OF formation. Fernando Wood has beer
dropped, on the ground that Daniel Morgan
O'Brien has completely extinguished him, and
Brother Ben, the real head Of the Wood family
L. LII Ill NM