The New York herald., 1871-10-12
w ALL STR EFT.
After the Batue-Ihe Results Of Couple of Days
Hard Fighting-Few Corpses lut
Many Badly Wounded

The wors. at last fully known ard the fire finally
and thoroughly brought under control, the excite
ment and agitation III Wall street cooled down yes
terday several degrees, ana stocks again success
fully achieved further slight advances. The volume
OF business was still large but the fluctuations IN
prices were comparatively slight, ana feeling OF
steadinsss II not quite or confidence: pretty gene.
rally prevailed.
The grand point discussed among the operators
was the effect the destruction OF much property
will nave upon the market during the coming
season.
CONVERSATION.
ssWny Just ioo, at the difference between the
aer-clap OF ordinary pane and the consequences
OF q calamity such as this" cried onc eve have
all seen bad times in Wall street-even tie youngest
OF us remembers Black Friday--and many more can
at least recoect also the Chase panic OF 1864 and
the general smasl,up OF 1857. Those troubles grew
out OF hard times, or degrangement Of trade, or
over-speculation OF some kind. Their only result
was to take money out OF one pocket and put 1t in
another; they simply brought about new deal In
the ranks OF capRal. Not cents worth OF property
was really destroyed--except perhaps, q few hun
dred dollars worth OF printed paper The sum
total ol American wealth remained unchanged"
"But look a, the hundreds OF failures they caused"
DESTRUCTION AND LOSS.
'Falures are only individual msfortunes A few
men lose, but there Is just much to eat and drink
and wear. just manv houses and buildings inst
as much stored up wealth of all kinds as before
But here in Chicago, three hundred millions or
dollars worth OF properfy-twO hundred millions OF
IL least being employed as capital IN producing
consisting Of pictures and books and articles OF
luxury aud ornament that not absolutely
essential to the wellbeng Of the peopls-have been
licked ont OF existence forever and ever by sea
Of name. The eject Of that destruction is going to
lie a terrific Tightening OF the money market for
rrnn ns n
or twelve per cent IN the Western cites IL Is going
TO be worth fifteen or twenty OF there aud
ten per cent IN The East during many months
OF ths immediate inture. IL can't be otherwise.
And when money Is in such an nnnaturallv active
sal shrinkags Of all American values.''
"0h, we caa borrow bagateiie like three hun
dred millions from EurOpe.n
NO HELP FROM EUROPE.
"From EuropeY No such thing. Europe Il to-
day poorer than she has been for many years. The
Franco -Prussian war and the immense arlnamenls
that the unsettled state of the continent has
forced the various governments 10 maintain has i'm
at how many bankrupt governments there are over
there Austria Turkey, Egypt, spain, Greece
France and Germany ar are i both Hara pres pressod' ana
| England, though richer than ever, cannot supply
ens worS RID with money especially gn in her
thls Chicago IRE are goingto be fe in every great
money centre all over the Civilized world,
"But VIC can pay higher interest-caa AFFORD TO
| pay higher Interest than any ono clsc"
| ABOUT UsURY.
l very lkeIy. DIX per cent IN EtVope ~ " VERY
\ high rate But interest now Is very considerably
higher than II has been at previous periods. Whcn
| Holland was at the zenith VI Eeg IMAM
cta greatness the rate OF the Bank OF Am
sterdam for good papes was only two per
| cent And thrce-quarters OF century ago,
| In Great Britain, four per ccNt on government
or Brst class securities was very high. The wood,
iu IT'S present high state OF civilization. needs Iaore
| capital and must have IL, than It ever did before
All OF which ls perhaps, little Nutsde or the flt
| at chicago, but II shows inarccAy that we maven
seen the ead OF the Misclei d0ie by tiat h'2n wlne
| fuA Ia u Gpnl IN
! time to come. The men who have been burned ou
| must borrow money NJ any races that may be cur
| repL ana We shall have To compete wih thcm
| ni5ui isnu the loss exaggerated AZ three nwnure'
| mililonsp
| WHAT TuE loss MAY REALLY BE.
"VerV likely. But " hundred milnols-aha