The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1870-06-24

1"s A"jo"'""0os "a s"c spanish Corsess
Gable dispatches from Europe which We
print this morning inform us that the Spanish
Cortes has adjourned until the 3lst Of Octo-
her, The closing debate Of the session was on
Senior Moret's bill, which provided for the
gradual emancipation Of the slaves in the
Spanish colonies. Castellar's amendment 10
the bill urging immediate emancipation was
lost by vote Of forty-eight to seventy-eight.
In the course of the debate and in support OF
his views CASTELAR, delivered one of those bril-
liant orations for which be has become famous
and which have done much to convince many
that oratory of the highest kind is not impossi-
BILE under the regime of the railroad and tho
telegraph. But Castellars eloquence was in
vain. The government measure has been
carried; Spain remains branded with the mark
of Cain, and the Cortes has adjourned.
The failure of the Cortes to come up to the
tionably just cause for lamentation and sor-
row. We had certainly hoped for better
things. But after all what has this Cortes
done9 Absolutely nothing. 1t has been said
that Prim and his friends have been afraid to
bring the throne question before the Cortes for
the reason that the members might have cast
strong vote in favor of Don Carlos or Don
Alphonso, or perhaps Isabella herself The
servility of the Cortes to the government in
this matter of slavery makes us doubt whether
the government has any such independence Of
spirit to fear. In any case it is now safe to
say that the Cortes and the government aud the
revolution itself have failed, and failed sadly,
to satisfy the expectations of mankind. What
has Spain gained by this revolution2 Wherein
is she better than she would have been
if Isabella had been still on the throne? Look
at her finances. Look at her trade. The
workmen are idle. The salaries of the church
men are long overdue. More money is being
borrowed. No king is forthcoming. No
republic is Immediately possible. A more
demoralized and, consequently, amore helpless
people never existed. And all this soma
twenty months after a revolution which
startled and gave hope to Europe.
1t is no longer desirable to suspend judg-
no power fitted to give her new life. Hope
from within herself must now be abandoned.
What Spain needs is some strong outside arm
to lay hold of her and lead her into new ways
There is no Caesar, no Cromwell, no Napoleon
in Spain. Is it not time that some master
should take hold of her from without? The
saddest thing in this Spanish affair is that
she clings to the cause of all her misery. 1t
was slavery that debauched her. But Spain
will not or cannot see it. This last vote may
prove her deathkne
Edward b. Kctchum the Hero of Another
Wall Street Sensation.
The summer monotony of the Stock Ex-
change was relieved yesterday by fresh SEN
sation with an old actor in the scene. At the
beginning of business broker. acting as the
agent of Edward B. Ketchum, announced his
inability to4uIfI his contracts-the formal way
of stating that he had failed Subsequent
investigation showed that Young Ketchum
since his return to the street has been again
specializing on gigantic scale, his operations
in gold and stocks reaching total of about
ten millions Of dollars. As stock Spectator
he was this time successful, and his good luck
in this line prevented disastrous results to his
ventures in gold. AS it is, his broker fails for
the comparatively small amount of only eighty
thousand dollars. The mistake which Young
Ketchum made was in endeavoring to ''bull"
gold, which his old experience had led him to
think was always bound to rise. He made
mistake which many others made who forgot
that the war is over and that the country is
steadily returning to its pristine prosperity
The immense cotton crops of the South and
the ffSSncial success Of the government are
constantly operating to wipe out the gold pre-
MUM. The defeat of the gold 'bulls" of 1870
is only natural result of the steady return of
the country to specie payments. Unless
foreign war should embarrass US the resources
of the country will gradually and easily bring
about resumption. The Congressional fnan-
ciers may learn lesson from Ketchum's
fasco.
JueDE DowLING's memory is the best prose-
cutting attorney in the city. Such District