New-York tribune., 1875-07-24

lessened demand. unfortunate state of things
in which country by means stands
alone Int a state of things which will
right its'lf naturally and without any great
shock or convulslon-at least at present Both
men are rcdemptonits, holding rery similar views
~ regards The mcxpedi.ncy of imitation. but Her
ing as Ia the business outlook of the moment. Mir.
sherman's idea seems Ia he thar specie payments
less distant than is generally supposed, that 'he
puhc, tired of currency. will not base transactions
or It; hence the 2 neral staEnatiOn, refusal to
make any vcntHrcs. Insensiby the public, he says.
IL already adjusting things on specie basis II
man 90 to capitalist to borrow money a piece of
property he has not the assurance 70 ak for much
more than half as much ~ he would have demanded
two years ago, could he borrow il if be did. The
impressions of both borrower and lender have
undergone a chang" as regards values The qu. ,ton
Of specie payments las in great measure gone out
OF the hands Of conventions aut tie people; rapidly
as possible it is resolving i->el aid with little oui
side help. siuiilar struggle is going other
countries and similar solution may De reached
simultaneously. At present gold and silver are de-
monetized in France. Italy. and Austria we'll
III the lnited Safes being a commodity merely, and
not money. In consequence spccie has Bowed ont
from these non-sDecie-paying countries to those
where there is for II. The instant these
tries resume sIecle payments back 10 them it l0ws
again here You have an immense contraction in
fact. and IL mc,iat-y the hoe begins pinch About
this time look out fox breakeis-to say nothing of
brokers and BANKERS.
1t il very pos ble that have got Mr. Shennan-
ideas little mixed with my own. for to tell the
truth il does puzzle dreadfully at times to decide
just where MY own IDEAS end and other peoples
begin. II so, ask his pardon for the mlsrepresenta
ton; certainly there Only sound sense in his
talk, however may have translated il. This is Ger
tain however; he looks for no let mp in the present
business depression, holding rather to the view that
in comparison with what is to come We may eveutu-
aIlv look back and consider thes as very tolerable
times indeed.
Mr.. Sage SAYS theories al Wen enough but the
best frequently tiil in practical applicatiOn That
navigation never perfect stanGsill because
some apprehensons may be entertained of squal
and that people not going 10 stay in doors al day
because II looks Ike Tiu lie says that Sir. sherman
has been talking in this way for ten years now, but
that all this v he instead Of planting himself on a
rock with umbrella permanently hoisted with
both hands above his head he has moved around and
done business and made some money. Thai he thinks
there l. sill room 70 make few proG able turns
before the world nes to IN end, and that husl-
moss man always has 10 take certain chances All of
which see ns 80 sensible % ne that III be willing IN
the future 10 trust him vijh twenty pieces Of gold
without counting it, TO sly nothing OF letting him
pass up my stage fare from his own pocket forever
Mr. Sherm1n's talk seemed sensible to ne. tOo--the
most sensible of auy ! have heard for some fine
And be "a ks with knowledge. understand, with
facts and figures at hi ting Is ends and give you
a d for everything he says. What il TO do
when two such men differ about the future Really
| don't know, unless You follow the guiding rule OF
my life, and OF two sensible men choose the less
But now let get my in just once. II
seems me that deal of liquidation has been gong
on which is not felt get The liquid is get
ting pretty low IN some reservoirs IN fact, and let
people but discover just how low it l., and there
may be music of q most unpleasant character in the
air. To illustrate what mean: Here at Long Branch
is a cottage which with It'd grounds cost $4,000
Last SPINNER a resident OF the place-no wise inter-
ested IN the prOpertyurged a capitalist with whom
| am acquainted. 20 buy 1t as investment for
$i5, ,O00-at which pr.ce il was offered. This sum
mer the property was bought in by the mortgagee-
a life insurance cOmpaay-under foreclosure ior
S27, 900. And they have approached my friend sey-
era times to him to take the property Oft their
hands at that price-the bare amount of the mort
gage. But he does not See it, exactly.
Let our life insurance company be- compelled them
selves to sell that pr p'rty-ds the chances are that
they will be before tAey re done with lt-and what
would II bringi Probably not tine half of what
they have been Obliged 10 purchase 1t at. Now
here l. but one individual instance. If yOu doubt
that the bulk OF saving bank money and otner
moneys which may be- suddenly wanted some day
is loaned ont or Just snsh fancy property, appraised
originally at just such c,ucy valuations, just you 90
and make a few inqaries IN a quiet way And then
cone back and tell rne f co0I many saving people
should some day take 1t into their heads that they'd
ike 10 feel OF their own money, and ask for II,
what would be the result Where would fancy
property 20 tOi And where would the few who had
"A fancy for buying pi,ce OF fancy property, at
what seemed low figures. get the money from to bug
IL with, Notwithstanding that their banh-books
showed a balance" :
There Is nothing like having financial head on
ones shoulders unless one has two financial heads
on one shoulder. / do not know what there Is III
my face which marks out for staisti,lan, fond
of figures given 10 estimates. thirsty ior I'll sors OK
knowledge. But al very few hotels III the land have
ever STAYED where the landlord has volunteered
20 show NE around, up ana down the Kitchen,
through the laundry into the meat SAFE, 10 make
me familiar with all the penetralia OF the establish
ment. in fact hut the money-irawer. IL must be
that | somehow look Ike a man who is fond OF
crawling through cellars and climbing over soap
boxes and stretching out his mbs in the shady re-
ce.ses of refrigerator The gcn;lemany proprietor
of the West End H. the last ore who has taken ne
in hand. For Sole days | had noticed him study
ing my face curiously At last he made
dive forward this morning. and seized me
bv the hand All right. ST; the desire OF your
heart shallbe Titlcd.' had very sharI'-cut pre-
sentiment of what coming, but followed on III
silence In five minutes was IN the'tish house, II
six was in the scullery in seven was in the soap
room. i'm eight was iu-but why enumerate further
was shown everything before we had done with 1t,
but the bar-room. Likewise | was made acquainted