The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-05-25

present walls of the burned building; and even
il it should be rebuilt the public can never havo
any confidence In it It is more than probable
that the stockholders, so far from raising any
more money to build another Academy In thsse
somewhat panicky times, will employ 10
amount they have secured by the insuraaos
for other purposes.
WHO Is REsPoNSIMz FOR THE RISE IN GoLDt-
During the present week gold has suddenly risen
from 1907 to 1917 and the export Of specie
within the last eight days has aggregated
,761. Meanwhile the Treasury has besas
seller of coin to an amount, it is supposed, MOI
far short Of thirty millions; but Il has now
abandoned the gold market, finding itself pow
erless to control it. The direct consequence Of
these ssles has been . sharp pinch in the money
market and a general disturbance Of prices on
the Stock Exchange. Moreover, they were 70
some extent the cause of the large exports Of
gold, Tor by keeping the premium fOrcibly
down the government widened the difference
in price between our securities here and abroad
to the disadvantage Of the home market and
induced the far-seeing foreign bankers among
US to buy and ship as much coin as they could
while the price remained low.
1t is somewhat remarkable that the Secretary
of the Treasury should have ventured with only
fifty millions Of gold in bis possession to UNDER
take the control Of the premium at q time when
European affairs were so threatening. That il
was an unfortunate blunder the sequel has
proved. The Treasury has exhausted itself In
ccro- - l. 49,
never have attempted, and this should be warn
ing enough against any future interference Of
the kind. The Laws Of supply and demand
regulate the price Of gold as much
as that Of any other commodity, and the Treas
ury cannot thwart their action with impunity.
Gold would not have risen to its present
point had II not been for the injudicious
course Of the Treasury; neither would tho
busir 'ss interests of the country have been
jcopardized by monetary spasm which in
volved the risk Of . serious panic.
Tne rise Of the premium, under such advices
as we have latterly received from Europe, was
natural, and in some degree, il LEFT to- the
operation Of legitimate causes, II would have
acted as safety valve In checking the return
of our securities. II Is q source Of considers
BILE surprise to most people that the Treasury
broker should have sold about fifteen millions
OF coin after the news by The Cuba had ar.
lived and when the hopelessness of the gov
crnment further struggl ng against the market
was obvious. The Secretary should ha&o-
known that he would have exerted Ear
greater control over the premium by retaining
than by selling his gold and the lesson. wa
trust, will not he Lost upon him.
Inauguration of tho New Freuc..
Theatre.
Tomorrow nigha tho French theatre will opsmila
doors to The best socsty town. anxious witns the
arst performaace this truly beautiful stage All tho
decorative arrangements have been completed in tims
and the magnificent auditorium repletc with every c,m-
fort and modern Improvement. will display IN manner
unparalleled before American theatro adj the
gancc and fsshian which tho good taste and reancsos
Of our metropolis contain
Mcssrs. JuIgnct Il Duvct have boon making exirsor.
binary preparations give first representation eli
the spendcr which tho public entitied expect
The entertainment will open with the charming comedy
Of Ns AiSa, OF the gems OF the
rcpcrtoir, in which Mr. Pol Mcrcier has al
ready displayed that exquisite wit and humor
which have placed him among the rs. In the profession
Mmc. IArmet, whom have had many occasions 70 Cd
miro ~ charming aisfe. full OF natural npuse asA
dramatic power, will appear In the part oS Nine Dosy
the captivating widow Mr. Chaupnin 10 play. fos The
first Time tho part Of Philippe do Mssy. We need nol
add that this part Of the performance could hardly b IN
better hasds Nos Allies will be foIIowea by Les Rc.-
dervv~s Bowosoi, Of the best bo~s the French
repertoire which has delighted youne and old for the
last twenty years and Is still full Of ncideuss
brought u out with unprecedented succ-ss Tho n,w
French theatre with excellent troupe Of nrs cla.s
artists Is destined hereafter occupy prominent po
ston In the theatrical entertainments Of the metropolis
and through the careful selection of performances
w hold The first rank among thosc glasses Of society
which value education rennemsss or taste above ell
things
Independent Of tho French tcape % Mcssrs yuisnsa
Drvct 10 which important additions have ,ady boon
made, aeompIete Fench operate troupe will make Ito
debut In the fall and for tho srsi time in America 10
shall have opportunity enjoy In the same houses
In the with the celebrated Grand theatre Of Brss
the opera and the comic opera the exquisite repertoire
Of which latter reminds by anticipation OF tho charming
entertainments held In store by the coming rcprcssaia
tons Of Les kowsquetasrn - Ia Reins Tampa Oh Rnss
sesr, lie CSaid, La Fee ous hosa lie CAerai De Bu~ss
and scores Of others For next Monday Is announced
The Doctor OF AcaniAra and for Tuesday Nolcrss
uf OF the gems OF the Theatre Francais FOE The
representation Of which unusual dramatic posecs
put into requision.
To the names OF rrsoch artists already notices
taking psr to-uorows performance should DO ADDED
thoss Of Mines H,nry and Posei, and Messs cbo IAr.
met Deiigne Harndor1 and . conner. Mr. Henry
Fon,snsy The orchsssrs Of the best ewes heard
In New York
CLINICAL LECTURES AT STATE HcsnrAL-nw John
Murray Casnochan, the eminent surgeon. Commences
to-day course Of surgical sad ciin'ea lectures, tbs
state Hospital Members OF the medical anA surgical
professions will thss DO Afforded unexpected and ars
opportunity Of vnnsasins dncuit and intricate opera
tons BY one Of hs nrst surgeons q the Profession and
Of hearing such valuable instruction from The bedside Of
tho patient given BY the most famous schools of
medical prsssce Europe ana ser the manner Of The