The New York herald., 1870-07-28

"for an idea" and If the IDEA takes the shape Of
conquest 80 much the worse for the prosaic people
VINO oppose the realization But the prophetic
lnsnct OF those who twenty years ago insisted tnat
the empire is peace" meant peace In the Napoleon,o
sense OF rhe word, or. IN other words, French
splendidIy verified. and history would repeat Itself
within single century.
First Alarms on 'Chnnge-The Money Panic.
[From the London Telegraph (city artIce. July 12l
Tne excitement winch was witnessed on the Stock
newed at the commencement OF business yesterday
Ciondayl morning. though with greater violence.
not isssssd since the CRISIS n 1866 Rumors Of an
alarmist character, sope OF Them wildly improbable
o e. s Sa Ss znsn
About noon kilograms were received snnounc-
@ and at Frsnkfor;. Berlin "a and vienna. S'iHi With
general gloom and apprehensons Of the worst issue
statements Of active war preparations IN France, as
well as Of an imgcrlous ultimatum having been de-
place, continued SO long and 50 indlscrminately
as Dasss and
were nung ~ market whore there were few, II any,
anss!aSle As usual, the panic panic led ' to sas most most
II as t. the 20 yus n Of wsS
IN n me e, event TO 81 war from which England would
both English and foreg cspa to our FUNDS s0n for
temporary investment were at one time forced down
more than one per cent Home railway stocks.
wealthy propretaries, were driven to q nominal
average depreciation OF about three per cent. As
suspended, and dealings to any extent were
suffered most severely ~ Turkish M % dves made N
sudden plunge downwards OF i've per cent
Spanish threes fell about three and half and
From this depression there was sudden rebound In
the afternoon on rumors that Prince Leopold had
de Gramm0nt had resigned; but still later came
fresh access OF panic, and though prices did not fall
markets closed with vety gloomy and unsettled
ieeiign Tne unaccounta6le delay that has taken
view from either the KING Of Prussia or the Prince
OF Hohenz0lern Received the worst interpretation
and II was to the absence OF any authentic news on
was most generally ascrlbed. Consos, after having
declined as much at q, rallied, and closed only
6.l6 lower compared with Saturday; for money they
left OF pr 02 0114; aud for August at 921< 92H.
THO Second Panic ON the London 'Chnnge.
[London July ls) correspondence Of Irish qlmes.l
In sympathy with the good Paris quotations, the
price OF eates the B0ulevards last night at half
past ten being called 70f 15c., and the absence OF
any disc0uraglng telegram respecting the Spanish
crown, the markets opened this morning with a
moderate amount OF steadincss but this was 0nJy
the case for q moment, the various departments
quent on large orders TO sell from Germany, coupled
with vague rumors that the Prussian Ambassador
Is to leave Paris, and that the French Ambassador
ls to be recalled from Berlin. These unfavorable
statements, together with the rum0red resignation
Of the French Ministers, with large sales concluded
caused sharp decline OF one to two per cent In the
various foreign securities, Turkish Italian. Egyptian
and Spanish again influenced to the greatest ex-
tent; at the same time the closing OF one or two
speculative accounts on the part OF weak operators
for the rise creates duness. One broker has init
others TO great amount are stated to be in difficult
ties. Towards haf-past one O'Clock the excitement
at the stock and share markets became intense, the
panic being worse than ever owing to telegran
had been compelled to leave. According to another
account the French troops were recalled from Rome.
Foreign securities were nearly unstable at de-
cline Of from 3 to per cent. Italian, 49, Turkish
OF 1865, AZ. Consols were sellers freely at o. At
three O'Clock there was slight change for the
better the telegram from Ems respecting the French
diiculty not being construed SO nninvoraby Us was
very nat. COnSos after falling TO 9lH improved to
81 92H for the account. Italian recovered "a.
Spanish Of 1887, after being offered al a. recovered
not at the worst like other securities exhibited weak
ness United States fve-twenty bonds are not better
than SIX TO SS. Although In later hours no fresh
panic occurred, the markets for public securities
foreign stocks being concluded to the last owing to
the kilograms from the Paris Bourse describing the
state Of things there as very violent and a9lated,
with declining prices. AT the same time the closing
OF defaulters accounts had an unfavorabe influence
two additional brokers and the same number OF Job
bcrs having tntlmated their Inability to meet their
fall OF 37s, the lowest price OF the day. however,
being 49}a. Turkish OF 1865 exhibited q decline OF
OK, but the lowest point reached was AZ. Spanish
of 1857 were only at fall OF ~, after being as low
Ginning to 25T, recovered q, the last price exhibit
Ing red lcton of IL.