, 1874-07-09


PARIS. or rather beer-gnrona, whldh Wdfo of,ta-
tlonos"1ods, ,g!At1iary, fountaine, andh beSf,
palace III tho nliddt toroof. soma Of tho bquarsa
wero subsequently, erootcd ,Hplondnl stru6turos.
such as an Academy Of art. n Public Library |
Anll. National Muacurn, or Aquarium. oto.,
Those choice military reservation iots wore
l,id1ora ahovo n Government valuation. at
tlsBt the ratcs wero fow at tho rricos snt npuu
| thomr:. About 1863 tho Govornn,ont, made z
btipulaton TINT tic lotB wora to 10 exempted
p1oved in certaiu styio. fian boaau the for!
nation OF speculative building coh1phuios by tho
Acote, and hundreds Of millions Of f!0r'Ns woro
hubnS,ibeA fsr sharon of. stock, With tho pro,
ssSas Ss torssa e s1 easss ae ios sesh
i's'd3sSe n 3s% ysss ms.e RSs Ss asse aEoss @
mud tha atradta croaafllg it weta covered viii,
structures five or si1 htoriea high, g. beautiful
make them. Tho iindht blocks II. BIoad%a5,
New York, or. III Chlcago Bihca tho Fire., cah i
hhSdIy equal In ihaghiilconoa Of app6alhnpfe
bcoros Of those now ,sti,lcsuros etoeeed % PIP
cost !l,0oo,ouo 10 2ouoooo. Ind ufen:. 10000
tlorilb. ;, ., :,rr
:: tine pu,lp,so Maria i''i -: : );
WIS not 1lmitet to filing up thi5 space Of a. fov
lrlulrad Acios, but extended in every dlrection
Hundreds -thouaandst I. am; t6ld-tt old b,iia;
lngs. many of thom plain but substantial, and
others crectod centuries ago, were torn
down, to ;mako room for olcgant .fa taehtoa- t,
abla' blools with 81 the nt6dora I'M
organized under charters which conferred bank
ing powers, loan mud trust, credt-moh'licr,
cro1it-fancior. and almost evory ~other power
multiplied like tlieH in summer. Shares of stock
wol 9 aubsolbod for by taEssiapB from .hll p.rt4
Of tic Empire. Even tle atdadY, sorious, 'hfd
pIodding farmers canght tho infection, aud in-
vested their boards III thoao fancy stocks. Tho
women gambled as wildly and racklsssly as tho
ti1catoa Of stool. Tho mnhhr5um banhilg CONF
pauics paid bigh ratos OF interest for deposits,
and the fools placed their cash In such Keeping.
Tho order Of the day waB expulsion, speculation,
HtDck-wAtoring.
- 1Ay cooKn 1Sy1ENxA, ;. - :,
who taught tho doctrine that national dopt
was u national bleusing. lie practiccd what
he proaehod, paid dopoaitpts enormous ratca or
interest, and invested thelr n,ohoY III inoonsalno
speculation. Ho said ho Hould uako tho money
''frncsjy" aud multiply itaosf manyfold;.. "a.
TinullY, one Ane morning, to tho astoniahnnont
of tho deposlting public, he cloSod bis bank to
"taKe aii account Ut stock" but would resume
btsiness in h fon davs; the notics on the aoorB
stated. But ho mover resumed, and iB still in
tall. Then followed the experience OF tho Amori-
eau eau panio Of September lust. Itriglltcusd do.
posltors rnshca reii-rneli on tho banks, md
broke ecorcs and hunareda Of wilti-eat f1.atitn-
tions, which had also been engaged In ftlct-
fying" with their depositors' money. Livery
thing vent down with i crash, except q fow old
fogy cohcornB witch had not discounted any
buir'a paper on wntercd-stock collatetnH.
tho ballooust and lot ont their gas. The collapse
was universal aud terrible. Thon a cry went up
to tho Goyernnaout for aii, Every burnt apedu-
Iatot and "lams duck" called Oh lfcrctles for
Aelp, The Government 1sBltl n1i11bnA Of Irre4
doosnable "lesal-teuders, and loanea them to
tho banhB to enable tllom to Bettlo with their
afrrightod depoBltors. But al in vain.. The
bottom bad failou out, tho bubbles, wore burst,
and confidence ,r was g9nS "Mharo TIE woodb,ne .n
parable, and tho wrock OF thousands Of fortunes
strewod tho battlefield OF tho spccufatorH. But
the,o WAS lass chance to rotrieyo thor losscs
mud that centered III
THE INTERNATIONAL EXPOSITION, h.
then almost ready tt, bo .opoued. }, Il was
aap''tS the world. ' with % tleir YVES WIVES and daush
ters, wero coming to Vienna to SEQ Tho
grdat I1torpatloual Show, and spend the au1nmer,
AMI their money like wator LII tllH expectation,
everybody who could by any possibility have any,
thing to do with the anticipated crowds OF
atraugars, moved by one common impulse Of dis
honest. 1apaolous e1sortion, determined to tlccco
Trecoup" themselves, AZ the English call 1t, Of
what they had lost in gambling BpeoulAtions.
The first strangers wlo came suffered unmercl-
fally. They we're literally robbed, Tie charges
mon, roHtaurauss, sltop-keopors, ,theutres, were
doubled aud quauruplce above the high ratas aud
charges which had prevailed for several years.,
Tno victims speedily He'd from the city to 'eacapo
those destructive raids Oh their purses, anu spread
| abroad the report Of tue rascality the Wen
1,eas wore practicng. The telegraph
aud press assiatcl ln making it Hnowl
in oil oohutrios in the world. and
quickly tbs GOLDEN shower ceased to fall and
"fruetify" the parehed Vienuess earth; aud a
great drought set in. Tho few that suoHe-
| 9ueutly camo looked around for lew days,
! aud, shaking the dust Of tho city from their
feet, departed hence with euraes on tho iuhospi.
table troatmeut received. When Loo late, I'VE
cuargss; but the crowds came not. 10 ad4 to the1
punishment, tile cholera paid the city q visit, ant
tho news ofits presence deferred those who might
otherwise have Come later in the seasou. While
| nittent aud unparalleled, the visitors wero feN
| aud Ia batwoen; aud the Fair finally closed,
leaving q dofcit bosweon receipts and oxponai'
| lures of = =
TWELVE OR FIFTEEN MILLIONS OF DOLLARS
a. All adInonleher to V'enna aud Austr'a thai
! honesty iB the host policy.
The city il still suffering sororely from The
effocta of tho fiscal conyulBion. Trade H Erclt~
| 1y depressed, and considerable time muat olapat
before there will ba mich buaibess-actiyity o.
| R1EEUlRklNH IEHtlHHs LUZ FOHA4uEAIAf HA4utf w
fore the crash. vas initiating itself At tho rate o
50 600 per aun,Iun, III now ut q stand-stll. Vdr5
| fas buildings nre being erected. Ecouomy ami
retrenchmont are the order OF the day..
Tile Vienna panic did not extend to the pro
vincos With tho same seyority that tho NoW = or
panic OF Inst September did 70 tho States. !
waa moro local in its catlaes and effecta, ant
other portona Of the Empire had not erabarhor
in crazy specuiatons to the eame degree III
Vlenup, and he6ee havo maaaurably esonpbd tht
en1aAt.doWn. However, the "enrthquake" il
the capital hhB produced "hard times =" anu.
stringent money-1narket in all parts Of the Etn-
pre-, which seriously affects the public reyennes
Tie late stock -gamblng mania WIS the tlrs
experience Of the kind in Vleuna, and tho clti
zena uHe!are that =. @
/ RI SHALL De THE IAsr, !
during this genoration ut all eyoMts. They pro
fcss to bs thofouEh!y d.agWsted with the mstAo
Of growing rich suddenly by swapping, jack
kni9B, and marking up tho price ot stocks au
goots eaci. morning, asld ontering thoBs rises Il
Talus ID thoir iedgers ~ 10 i11ivh eaenF gain IN
| reAh1ed wealth.
Vienna will not decay In consequences Of til
last couyusiou which hankrupted 10 many CON
pa,ltes and persons it will merely grow 1nor
slowly, and uot live 10 excited aud extcayagant
| hie, :Vienna IL yery wealthy cit.
It is tbs cra.litor OF the whole III
ton. lis bapkcea poaeeaa immense. capita
and ;dom,uate the money-mnrktt Of the Empire
It il tha grant rniiroad-cen.se OF al Austria; h
| tina eoinpauleB have their headquarters herr