The New York Herald Newspaper, October 12, 1857, Page 4

4 NEW YORK HERALD. scannsasihanmumencannnial JAMES GORDON BENNSTT, EDITOR AWD PROPRIETOR. enna nent OPTION K. W. CORNER OF FULTON AND NASSAU BTS. TERMS, coed tn advance. Fee DAILY WENATD, to cnt pr copy, WT per annum. THE WEEKLY HERALD, every Waal ix conte por exp, or $8 per wun the ‘Pizopmun edition, 4 per annum. to ‘part of Great Bridain, or $6 to any part of the Uontinent, both oar FAMILY HERALD, every Wednesday, at four cents per copy, or 82 per annum Volume XX AMUSEMENTS TAIS EVENING. BROADWAY THEATRE, Broadway—Bovcn Dusom— @usnd Baler oF Faust, WERY THEA’ = 7 pROWERY THEATRE, Bowery—Wacran Traum -Tus BURTON'S THBATRE, Brosdway, opposite Bond s rect. — Guy Manweaing—Tee Canistering. WALLACK'S THEATRE, Broadway—Last Man—Lava- or LAURA KBENE’S THEATRE, Brosdway—Hossann ron am Hous—Ocras uit, NEW OLYMPIC THEATRE, Broadway—Homer Moox— Kis Laces. BARNUM’S AMERICAN MUSEUM Broad eum Waisn RIGHTINGALB—skAND AQUARIA, O8 DEN—Cuniosrrins, Ac. GEO. CHRISTY & WOOD'S MINSTRELS. 444 Brondway— Brworun Misstexis— Dorie Beopan Boom —SONGE BY BAN GAR MEOHANICS’ HALL, 472 Broadway—Necxo Meropirs— Boniasaer -Morixy okOruEnn. BMPTRE TALI, 696 Brow way - Parerings [nuesreates or Dk Kane's ancrigBxrxoirion, 40 New York, Monday, October 1%, 1857. for Europe THE NEW YOR ALD—EDITION FOR BCROPE. The Co:tns mall steamenip atlantic, Oaptata Edrtige, will leave this port to-morrow for Liverpool. The Faro; ean mails will close in this otty at half past twoive o'ctoek P.M. ‘The Foropean edition of the Hevaco, printed tu French and Eogiion, will be published at ten o'clock im the morn ing. Stogle coptes, tn wraopers, six cons. Bubseripuors and advertisements for say edition of tho Maw Yous BERALD will be reoetved at the fullowing places tn Evrope:— Lonpom,, Pamson Lew, Son & Co, 47 Ludgate itl Am -Europeso Fc vresa Oo, King Wiltiaw at, Pans......Am -Ncrovesp E p ese Oo ,§ Place de Is Bour.e Livruroot .Am.-Eavopser Fc reese Co. 0 ‘bavel street. RK Scart, 10 Exobange aireet, Reet Bavas,....am VParopean ixpress Co., 21 Rae Corneille. The contents of the Ku -opras ecition of the Hxaacy wil! Combine the vews recsivea by mall and teleg-aph at the office during the previous week, and up to the hour or publication. Ria celes he News, ‘The steamship Atiantic is now fully due at this port with European news to the 30th ult., four days later than previous advices. The clergy yesterday again addressed themselves to the financial disorders that now afflict the coun- try. We give reports of the efforts of half a dozen of these divines, and it is not a little curious to ob- serve the causes which, in their opinion, have brought | about the revulsion. Mr. Cheever sticks to his hob- by—that it has been caused by slavery and the Dred Scott decision; but the majority of the preachers are convinced that the panic is owing to the ungod- liness of the people. If business men could only be convinced of the truth of this view of the case, what a rush of recruits there would be to the churches, to be sure. Rev. Charles E. Harris, pastor of the John street Methodist church, yesterday morning preached an able discourse to a large congregation on the « Re. | ligioa of Commerce;"’ but, contrary to the inference | which would be drawn from the notice, he did not | make the slightest allusion to the present financial crisis. He attributed the revolution in India to the | covetecusness of the British merchants, and af- firmed that the United States was destined to spread the twin sisters- religion and commerce—through- out the world. ‘The following are the movements ot produce at the lake ports during the twenty-four hours ending fat noon on Saturday :— | Br ffalo 47,000 - = Oswego | 11'000 16,600 4,200 | Cbiovgo 93,000 84,000 = The value of foreign goods imported at the port of Boston during the week ending “th instant, | amounted to $625,056. The imports for the corres- ponding week in 1°56 were $567,457. Rey. L. G. Hay, recently a missionary of the Presbyterian Board of Foreign Missions in Allaha- bad, delivered a discourse last evening in Dr. Potts’ church on the Mutiny in India. He was listened to by a very numerous congregation. The Mormons he'd a conference yesterday in this city, the last they intend holding. The Saints are | ali going to Utah, leaving the wicked Gentiles to | shift for themselves. We give a report of the pro- ceedings in another column. We publish in another column the decree of the Queen of Bpain extending the term for the free im- portation into that kingdom of wheat, barley, corn and other alimenticious seeds, in grain or flour, to the 50th of June, 1558. We have files of Bermuda papers to the Ist inst. The British ship of war Brilliant had arrived at Hamilton, from Grenada, and sailed for Halifax. She had one bundred cases of vellow fever among her crew, and twenty-nine desths; the chaplain of the ship, Rev. Mr. Watson, being of the latter num- ber. The American ship Serexa, Captain Tapper, from New Orleans, bound to Bordeaux, bad arrived in distress. The American brig H. W. Morcune, | Capt. Richards, from Georgetown, 8. C., for had arrived at St. Georges, her crew all | ick with intermittent fever | George Washington Parke Custis, the last mem- ber of Washington's family, died at his residence near Alexandria, Va , yesterday. | ‘Tue annexed tabie shows the temperature of the | atmosphere in this city during the past week, the | range of the barometer, the variation of wind | oarrents, and the state of the weather at three pe- riode during each day, viz.: at @ A.M, and Sand 9 o'clock P. M.:— Fa. | Log yd Cloudy and cool; aferncon, do. ; | a Morning, cloudy afternoon, do; night, moom- eaategNoraiog clear afle'noon, cloudy, sight, clear | )—Morur 2 eed matin ‘ear; eflernoom, Clear; night. clear Wednesiay—Morning, clear: afternom, clear night, ‘Thereday —torning, clone 4! Girer a teh te cm con, oe and mooaliy bt ‘ fatrrday—Oreer On Bakarday the coticn market was quict and onisetrifirg, while prices were unssttied aad more or lew nomial, quotations being inuah influenced b» cash and time pay mens. Flour was dull, asd for common and mediam grader from Ge. & 10. per bb! lower, while sales were made toa moderate patent. Wheat was also irregalar aod emsior for common grades, while sales were moderam at #1 Lb 8 81 2956 for common food Southern red; white Coffee wae quiet Freights were without Change of \mperiaace and ergagemerta moderate. | start again in a few months on a new and better | system. There is come consolation in that reflec- | to the Legislature any power to authorize the ‘NEW YORK HERALD, - MONDAY, OCTOBER, 12, 1867. The Financial Hurricane—Whet Gext! ‘The great financial storm through which the country is pow passing has made itself felt more particularly in this metropolis, because New York is the heart of the whole commercial sys- tem of the continent. The great artery of the tade and commerce of the United States has its seat in this city, and nothing can affect any branch of business throughout the country with- out making an instantaneous impression here. Therefore it is thet by obtaining the figures which represent the movement of trade and com- merce here, we can calculate pretty closely the general movement thereof in the country at large. Such calculations are eminently valuable at this time, as they will serve to enlighten the public upon the true condition of affairs, and may dis- sipate much of that intense alarm which now prevails, and the existence of which only adds to the difficulties that eurround us. During the great expansion which prevailed last summer in every department of trade, the returns of the Clearing House in this city thowed that the business of each day, as represented by the notes and checks of mercentile firms, averaged twenty-five millions of dollars. This, of couse, only exhibited the amount of traneactions done under the credit system. Estimating this as only the fourth or firth part of the bueiness of the whole country, as dene under the eame system, it would follow that during that season of undue expansion the amount of credit transactions done in the United States averaged from a hundred to a hundred and twenty five millions of dollars per day. The revulsion that has been going on for several weeks past has reduced, by over one half, the amount of theee credit transactions. The returns of the Clearing House now show that the banks of this city have contracted so that the daily amouvt of business done in that form has fallen to twelve millions of dollars: and the probability | is that if there were a similar mode of geiting at the extent of credit transactions daily done | throughout the whole country at this time, the falling off would be found to be in a still larger proportion. This shows the extent of the fiaan- cial hurricane, and the revulsion in trade that | has already ensued from it. But thoee figures do not, by any means, repre sent the gross business traneactions of a day. They merely show that portion thereof which is done under the credit system. There are no means of getting at the amount of business done for cash ; but it is estimated by those who are best qualified to judge, that it is at the present moment probably double that done on credit. In other words, while the credit transactions of the city range at about twelve millions of dollars per day, the cash transactions range at from twenty to twenty-five millions. And we suppose that the same proportions would nearly hold good if ap- plied to the business of the whole country. There is one important fact shown by these curious figures, and that is that the present finan- cial revulsion only affects, to any serious extent, those who do business on credit, and who are, therefore, altogether dependent on the action of the banks. But the great every-day trans actions of trade done on cash principles are of much more magnitude. These may be toacertain extent, injuriously affected by the financial revulsion ; but still their vitality will remain unimpaired. If all the banks, and all the railroad stocks, and all the paper securities of the country were wiped out of existence to-mor- row there would etill remain materials enough to tion, The materials for the reconstruction of trade and commerce are at hand; and therefore if the present fabric should be entirely dissolved,there need be no alarm for the future of the country. In the meantime; however, there is a tremen- dous struggle going on between the banks and the merchants—the two great constituent portions of the credit machinery. They are actuated by different ideas, different views, and different in- teresis; and consequently they entertain diffe- rent theorics as to the proper way of getting over the existing difliculties. The merchants think that the banks ought to expand and supply facilities in the way of discounting paper, at least equal to those which they extended before the panic set in. The banks take a different view of the mat- ter, and, instead of expanding, they contract, There does not, however, exist much unanimity among the banks themselves, While the ma- jority lean to the principle of contraction, there are still some which favor—though they do not attempt to practice—that of expansion; but ex- paveion involves the euspension of specie pay- mente, and that is forbidden by the constitution of this State. The fifth eection of the eighth article is in these words :— ‘Toe Legislature shall bare bo power to pass aay law —> 9 gay manner, directly or indirect!r, the sas pention cf specie pay ments by any perton, aw ociation or corporation issulcg Oang potes of auy Cescrim on Although this section is as explicit in denying euspension of specie payimen's aa it is possible for language to make it. etill, it is thought | by those who advocate expatsion and suspension | | of specie payments, that there may be some way of getting round ite express provisions. Neither constitution nor laws can compel banks to make epecie payments when they cannot do so, any more than they can compel the performance of apy other Impossibility. There are certain occa- elons wherein the interests of the whole commu- ity require the temporary abrogation of laws otberwise ealatary and requisite. And this cer- tainly is euch an occasion. The struggle between these two classes of banks snd between the banks and the merchants, is pro- ducing a great deal of annoyance, bad feeling: trouble ard disaster. The same struggle is going onia Boston, Philadelphia and eleewhere; and now and then one or two or three banks succumb, because there is no concert of action between the whole. A eystem of expansion aad suspen- sion of specie payments is one rystem; that | of contraction and payment in specie is nother and totally different one They are just as much opposed to each other as are the cash and credit systems. As both these latter exist at the eame time, why could not both the former? We see no reason why that portion of the banking institutions that believe in the Lencfits which would accrue from expanding and surpending epecie payments should not try to put their theory in practice, while the other portion should pureue their present tactics. It would be necessary, however, that Governor King should call an extra session of the Legislature, for the purpore of providing some sort of indemnity for the banks that are to suspend. The present Le- gislature is cxcellent at evading the constitution, snd there is no doubt that they could devise some means A doing Fo in this regard. aa they did in reference to the Metropolitan Police; and there is just as little doubt that the Court of Appeals, as at present constituted, would declare their action constitutional. We throw out these views and suggestions in order to facilitate the solution of the greet finan- cial problem. The greet cash system can, in the meantime, take care of itself, The Hallroad Struggtec. On Satardey last, as we all know, the Illinois Central went to protest on its floating debt. The immediate cause of the euspension appears to have been the impoesibility of disposing of ster- ling exchange drawn by the company against the instalmente paid into the London agency of the 100d; but it is quite obvious that had not this oo- casion of failore presented itself, another would, and that the present panic has only precipitated av utterly unavoidable consummation. The day before, the Erie Railroad Company likewise went to protest, on like acceptances for floating debt; and at the same time, the Michigan Central Com- pay met with the same dishonor, having no funds to meet the paper that was maturing, ‘These three roade, thus united in a common catastrophe, bave bad very little in common but their embarasementa. The New York and Erie Railroad Company has been practically insolveat for years, and, but for an extraordinary coinci- dence of financial sill and good fortune, would have passed out ot the hands of the stockholders a few months after the Schuyler crisis. No per- son of good judgment has believed in it since then; and latterly its embaraesments have been so notorious that ite failare will take no one by surprise, Very different has been the character of the Michigan Central Company. Until within a few months, its character, as well in an industrial as a financial point of view, stood very high indeed, Itwas understood to be chiefly owned and con- trolled by solid men in Boston and the West, to whom the idea of stcck speculations never could present iteclf. It was said to be managed not enly with ecience, and economy, but also with in- tegrity ; railway critics used it constantly as the standard by which to measure doubt'ul concerns. ‘These merits were reflected in its financial re- turns; it paid ten per cent dividends regularly, and its stock—which was scarce—sold but a trifle under par in our markets and those of Europe. Ruin, overtaking such a concern as thir, and in 0 frightfully sudden a manner, will stagger the most resolute minds, and may well warrant the boldest ecepticiem in reference to railway values. The Illinois Central Company was the original and the exemplar of another class of railways— the land grant enterprises. Only a few years since, it obtained from Congress 2,500,000 acres of land—in great part selected by the company— in the State of Illinois. With the deeds of this land in their pockct, the company’s agents went out to England, and raised in round figures twenty millions — in various shapes and at various times—for the contruction of 700 miles of read from Cairo, the southern extremity of the State of Illinois to Chicago in the North. The road was built. Part of the land was sold. Three years ago it appeared almost certain that the sales of the land would in a very short time pay the whole cost of the road, leaving to the stockholders, free of cost, first, the finest railway in the country ; secondly, a balance of many hun- dreds of thousands of acres of land. Assuredly this was an enterprise which might command confidence; the stock might well sell at a premium ranging from 20 to 40, and be regarded as a security equal in character to the best State etocks, in which the widow and the erphan might safely invest their little patrimony. For all this: it has failed. The receipts from the sales of and have proved so infinitely small (most of the ands being sold on credit, at absurdly low rates of interest) as to be of no account in balancing the loss on a long, unprofitable railway, running through an uninhabited section of country. Complaints of the absence of water and wood on the company’s land have been generally circulated, and it is said that settlers who have lived on it for three years have found it cheaper to abandon their improvemente and move over into Iowa, than to complete the work they had begun, Meanwhile, the loss on the running of the road, and the cost of never-ending additions and re- pairs have required the company to carry a large floating debt, which has now sank them at last. It is quite certain that this beginning of eus- pensions among the railways will be followed by other catastrophes of a like nature as the crisis continues. Many other great railways through- out the country will probably fail this fall. Setting aside the sympathy which ono, may fecl for individual stockholders who have been duped into investing their savings in this way, it cannot be disguised that the failure of these prinoipal railways will be, both immediately and ultimate- ly, a gain to the country at large. It is sapposed that the failures of railways which have already occurred will liberate, in the course of the next thirty days, fall twelve millions of money, here- tofore used in shaving railway paper, at five a ten per cent per month, and which will now be turned to good account for the relicf of the merchants, It is @ real blessing to get rid of such needy and euch enormous borrowers as these railway corporations have been. And furthermore, when the Erie Railroad, or apy other great enterprise of the like kind, is brought to the hammer and sold out, or foreclosed upon by bondholders, it will not command a price much exceeding one-fourth or one-third of its com- monly reputed cost. The Erie will probably be taken, for instance, at something like twelve to fourteen millions of dollars, instead of forty; the New York Central at the same rate; and the other great roads in proportion. At these prices, under © round management, we should consider railways about as good investments as any in the country. ‘They would then be enabled to devote their whole energies to their proper business of carrying pas- tengers and freight, and there is no reason why they should not do as good business as the steam- ers, the shipe, or the express companies, Theee are old ideas in these columns; to all who have been constant readers of the Henan, they must be very familiar. Had every one lis tened to them, bow much distress would have been averted to-day ! Tur Reversion on Nieoer Wonsmrr.—The anticlavery agitation sinks out of sight under the terrible pressure of this financial revulsion, as piratical craft disappears in the depths of the ocean under the heavy broadsides of a man-of- war. The stupendous schedule of swindling, lobbyjobbing, rpeculative and stockjobbing schemes and projects which have been carried on under the mask of nigger philanthropy, thus falls to pieces, and the fragments of the wreck will be picked up by the wreckers. A great oversha- dowing party in theNorth, buiit up on the agita- tion of slavery, slaves and the slave power, will thas be broken up into ite original elements Bankruptcy, want, destitution, hunger, despair, misery ard ruin are the prominent shadows that now fitt about in the moonlight, and God only knows how soon they may fill our streets in the broad light of day. Amid this fearful state of things, it is not niggers, ner anti slaycry, nor Kan- eas, Dor Dred Soott, that the suffering masses will care to hear about; but they will demand relief, re- lief—give us relief from rotten banks, rotten Trast companies, rotten financiers and speculators. Give us work ; give us in payment to-day money which will be good to-morrow, and labor to-day of which we shall not be robbed to-morrow by broken banks and stockjobbers, These are the great issues which will agitate the country for eome years to come; and upon these issues the nigger agitation, and all parties and factions that depend upon it for support, will be frittered away. This financial revulsion has thus eet on foot a great political revolution, which in its re- sults will be one of the moet remarkable of the nineteenth century. And with the coming Con gress the work will begin. Nigger worship is in its last throes. Oren Am AMUSEMENTS—FasHtonasLE Exciu- SIVENESS.—Strangers who visit New York are struck with the indifference which we display to open air amusements. Of theatres, concert hails, ball rooms and billiard rooms we have more, per- haps, than is good for us; but of public prome- nades, tea gardens and other al fresco enjoyments we ere eadly behind other great cides, There is no particular reason why this should be so. Our climate in summer and in the fall is peculiarly favorable for such amueements, and there is no doubt that the health of our city population would be greatly benefitted by them. Our clerks and mechanics, who are confined from six or seven in the morning till six or seven in the evening, in cloge offices or badly ventilated and crowded manufactories, would find greater relief for their minds and lungs in such places than in the im- pure atmosphere of a theatre or drinking saloon; whilst the comfort of their families would also be promoted by their being enabled to partici- pate in their enjoyments. It is the policy of all wise institutions to promote these cheap and wholesome amusements amongst the masses. They diminish, it is found, the misery and vice which add so greatly to the difficulties ot govern- ment. Amongst the wealthier classes in this country, whose means enable them to gratify their inclinations, there is unfor- tunately but little taste for open air exer- cise. This is strange enough, considering the love of ostentation which prevails amongst our female populatio#. American women indulge in, we be- lieve, the love of dress to a greater degree than those of any other country. It is singular that with this propensity they do not eeek more fre- quent opportunities for its display. In all the leading cities of Europe, and, indeed, of the Southern portion of our own continent, there is come favorite drive and promenade, to which, at certain hours of the afternoon or even- ing, all classes repair, either to take exercise or to show off their fine equipages and toilettes London has its Hyde Park; Paris its Champs Elyedées and Bois de Boulogue; Vienna its Prater; Rome its Corso, and the Spanish and South Ame- rican cities their Alamedas and Paseos. These are frequented by all classes, and their great charm 8 the variety of character and costume which they present. In New York we have no such place of indiscriminate resort. If we want to show our fine clothes or to enjoy the open air, we must take to the streets, to the railroad cars, orto the deck of asteamer. But from these resources we do not even derive the full advantage. Our stupid notions of fashion are alwdys interposing to limit the opportunities of healthful and ra- tional enjoyment. Thus, for instance, on the Sunday, when our streets are clear of businese. traffic, and when our only great carriage prome- nade—Broadway—ts free from obstruction, our fashionables will not drive out, for fear of being confounded with the vulgar. They seem to be afraid of breathing the same atmosphere with the bard working and respectable mechanic, although, as far as the mere distinction of wealth is con- cerned, it is sufficiently marked by their own vanity and conceit. We know no nobler carriage drive than Broad- way on a fine Sunday, at this season of the year. Yesterday, for instance, all that was wanting to lend to it the attractions of the English and French promenades, was the presence of hand- some equipages and gay dresses. Of these we have abundance to rival the fashionable preten- sions of European cities, if our republican notions of fashion would only permit us to exhibit them in company with humble pedes trians and the coarser Sunday adornments of the poor. It is to be hoped that the leseon which the pride of our moneyed aristocracy is now receiving will not be lost upon them in this regard. Those who have the good fortune not to be compelled as yet to drop their horses and to suspend their carriage drives, should recollect that the exclusiveness and in- flated pride which have proved the ruin of so many wealthy people, have only served to embit- ter the fall of the latter and to draw down upon them the triumphant comments of those who have been wounded by their pretensions. As they may themselves in their turn be compelled to abandon their splendid cquipages for the pavement, they will do well to treat with more respect and con- sideration those whom fortune has not dealt with ®o kindly as themeelves, Let them, therefore, break through this absurd rule of Sunday seques- tration, chow themselves and their finery in our only poesible place of resort on such days, and relieve American customs from the stigma of pretensions more aristocratically foolish than those of aristocratic countries themselves. Our lives on it that the “cloth of gold” will not suffer by contact with the “cloth of frieze” and that the bappiness and enjoyment of all classes will be promoted by the association. Wait Do tery Say Now or tae Great Pastc Maken ?—For a long time past, from day to day, from week to week, from month to month, yea, from one year’s end to another, the New Yorx Hrratn, like @ faithful sentinel at the gates of the city, has uttered ite warning» against the speculative excesses and the financial abuses of the times. We have preached rom the lessons of experience, we have reasoned from caure to effect, we have taken facts ae our data and common senee as our guide and we have begged and implored our finan- cial and commercial operators in the babbles of the day, to retraee their steps, and to reduce their operations to the legitimate channels of pra- dence, honesty and safety. In return we have been abused by our stockjobbing cotemporaries, and held up to public derision by Wall street gamblers as the great panic maker. But how is it now? The flood is upon us, and Wall street gamblers, stockjobbing journals, speculators and financiers are all adrift upon the waves: and on all sides it is now admitted that the Henan all along has been preaching noth- ing but the sober, eerious and honest truth. And the whole matter is very simple. Perfectly free from all the kite-flying, stockjobbing schemes and combinations of the day, we have been per- fectly free to tell the truth and the whole truth, and we have told it, And thus we can face the honest masses of the community with clean hands and a clear conscience, and rely with increased confidence upon their approbation and the steaduy increasing liberality with which they sustain us ‘That's all. Some time ago one of the boards of our City Councils appointed a committee, by way of an experiment, to look into the records of the finaa- cial department of this bleseed Corporation, ia order thereby to ascertain, if possinle, how the people’s money has been going for the last few years. In pursuance of their duty, the commit- tee have been inspecting the books, papers, &c., touching our city expenditures for the last five or eix yearsor more, and their discoveries have been perfectly overwhelming. It seems, from these astounding dieclo-ures, that within this period of five or six years, sums of money, amounting to the stupendous aggregate of eight or ten millions of dol- lars, have disappeared from our city treasury, nobody knows how, when, where, or what for. The money has been expended, but there are no vouchers, or specifications, or indications as to the purposes for which it was paid away. ‘This is equal to a series of defalcations, em- bezzlements, or robberies, or what you will, amounting to eight er ten millions; and the dis. closures in the premises which will be brought to light within oa few days will be very apt to startle our taxpayers from their lethargy. Here we have the clue to the otherwise inexplicable increase of our city taxes from two or three to seven, and even to eight millions of dollars, per annum, within the last half dozen years. We doubt not that this increase has kept pace pari passv with these un- recorded expenditures of thousands, tens of thousands, hundreds of thousands and millions, It is another instructive chapter of that dreadful demoralization of our spoilsmen, epeculators and stockjobbers of all sorts—that pervading spirit of recklessness, corruption and shameless roguery which bas precipitated upon the country this ter- rible financial revulsion. We have heard of railway jobbers, financiers and favorites, who, in a year or two, from nothiag have become millionaires; and we are told of Corporation favorites and spoilesmen who, upon salaries comparatively trifling, within two or three years have contrived to obtain money and credit sufficient to enable them to build brown etone fronts, drive fast horses, and support fust women in the latest fashions, Foolish banks and swindled railway stock and bondholders can furnish us now with the open ssame- of these railroad land sharks, and tell us all about it, with the bursting of the bubbles that have led benks, stock and bondholders into the quick- sands of bankruptcy. So, too, with the examina- tion of our Corporation records of receipts and expenditures, we are getting at the secret of our excessive taxations. And from railroad fiaan- ciers to our Corporation epoilsmen, the solution is the same—the most astounding and enormous plots and combinations of Peter Funks, Jeremy Diddlers, rogues and scoundrels to plunder the community. And so, every day, from day to day, for some time yet to come, we shall know more and more of the agencies and the agents and the ins and outs that have brought upon the country this unparalleled and ruinous financial earthquake. Tur Panic iN THE Brown Stone Hovses.— There is a general cutting down and cheese par- ing in upper-tendom. If tailors and seamstresses are throwa by thousands out of employment, they have the comfort, if comfort it be, of retlectiag that their sorrows are shared by those who have been accustomed to consider themselves their betters. The little economies which the hard times bave etforced in the garret, are only the sympathetic reaction of the larger economics effected in the brown stone mansion. The tailor or the seamstress may perish of starvation ; bat what is that to the misery of being compelled to wear for another six months one’s Raglan or silk gown? The Potiphars of our fashionable localities are in truth reduced to sad extremities. In the Fifth avenue, in Madison and Union squares, and in every other spot where fashion loves to congre- gate, we hear of nothing but retrenchment, When mansions are not to be sold, horses and carriages have to go by the board, servants to be reduced, and household and personal expenditures to be equared generally. Some are regularly cleaned out, some hope toretrfeve by overhauling their extravagances, whilst all make resolutions of stern self-denial for the future. What a pity all this was not done in time! What a world of trouble and distress our would-be fashionables would have saved themselves if they had listened to the warnings thatwere given them! But no— bent on their own destruction, they pursned their wild career of folly and extravagance, and abused those that gave them friendly counsel. The punishment they have received Is of their own doing. Let us hope that it will bear wholesome fruit. Sickestyo.—If there can be anything conceived under the sun more sickening and disgusting than political speech making in the present crisis we should like to hear of it. To hear men prate about the unterrified democracy, or bleeding Kansas, or this or that form of political trash— when, in sober truth, the heavens look as though many of ue would not be able to get a meal ora bed this coming winter, is positively shocking. Such speakers ought to hide their faces, for fear the hungry mob should remember them hereafter, ‘The panic has killed politica; even the election will pass unnoticed. No cne but officeholders, and hired naturalized citizens will bother thomeelves about it, Free Importation of Grain in Spain, ‘The Madrid Gaceta of the 18th olt.containe ‘the following Important royal decree, extending the period of free im. portation of grain and flour ato Spain through the firet etx ‘mr nthe of next year, The decree 's a2 follows — In view «f the reasons laid before me by the Min'ster of Fomente, and 10 with the optaion of the Joun- o concede by my decree of the 13th of May last for the free ‘Ot whet, floar (im the piaral), barley, corn, ani otter aimentict ‘we ae stated in anid ro; al 4 i i ee ry i i j Lift i E i i f : i i i i THE LATEST NEWS. Affaive in Wi BREECH LOADUG RIFLES—TRE NEW STEAM SLOOF COMPRALT—CBB KBOUGNITION OF MiGARAGUA BE ENGLAND, FRANOK AND THR UNITED GTarns, Wasuucron, Oot. 11, 1867, ‘The Board of Army Officers appointed by the Seoretary of War to ascertain the efficiency and adaptation for army use of breech loading rifles have completed their report, and yesterday sent it to the Beorelary. It ts very Constructor Grice and Obief Engineer Gay, of the navy, have been engaged for some days with Mr. Westerven, dra eing up 0 contrat for building the new steam sloop <f- war, They will complete their labors early next wees. James Wurphy & Co, of New York, are to build the en Glsee, the Board of Engineers having decided that thee engine ts best adapted fot sea sorvice. They built the ‘The President bas usder consideration and wil! probabty decide the question on Tuesday ato the recognition of Genor Yrieearrt The English asd French Mivistere here ‘are of opinion that their respective governments wil re cognise Nioaregva as an independent State. 1s nas already been reo"ga = d by most of the surrounding governmenss. inaugural Address of the Governor of ie rida. Wasu:xctom, October 11, 1867. ‘The Goutbern mail from all points, as late as dee, hes been received. Walker's Kansas was greeted Spplause. the fo not pa |, and Consequently a aymepete Of this part of it cannot be = Naw Oacuins. Oot 10, 3867. ‘The sales of cottou to-day foot up 8,000 bales. P tom ab ilo. a 1li¢6. Flour money io exchange. Money pe ‘ie in the banks for the ween ia $260,000, The decrease of depo its is but small. ; ence, Oot 10, 1867. Myge—eo Tig niged mys:—Fe cone no marset to re- jor we been very light, and rises ave nominal. ‘The financial crisis has bad @ very serious the receipts of one or two of the theatres. fact, baa been a bad one for all except Barton’s, where ? bath evening with profi. Sunday in New York ts deq@- cated to the demon of ennui by a large majority of the mey be supplied by suck concerts as are giren al the Academy. ‘The bills af the theatres to-night do not present any ‘Very startling novelties, but they aré still quite taterest” tog. At the Broadway theatre, the Boasani ballet company oppear tn “Faust,” As we have before remarked when speaking of this performance in detail, |! 1s given here quite es well as at the first class Faropean theatres. These ‘who have a penchant for the ballet may rest assared thas that at the Broadway is the genuire article. At Barton’s Miss Cushman plays Meg Merrilies in “Gay Mannerisg,”’ which drew crowded houses all lat’ week. Twill be withdrawn, we believe, on Wednesday. DB is one of the most distingt, powerful and vigorous dramatic assumptions that we have ever secs. Ai Laura Keene’s theatre we are to have ‘A Husband for an Hor,” » capital play—capitally done in every re epect—and a new farce, ‘A Quiet Family.” Miss Keene, Messr. Jordan, Jefferson and Wheaileigh play im these Pleoss. At Wallack’s theatre the pieces will be ‘The Last Gam,” for Mr. Blake, and “‘Lavater,”’ for Mr. Walook. The acting is excellent in both. at the Olywp'c “King Lager,” the new burlesque, bes Derm quile successful, and is upagain for to-night. The first piece is “The Honey moon,"’ wits two déhuts—Mias Katy Ladiow and Mr. N. St. Clair, This contioman has re- cently arrived from Scotland, where his reputation as am Actor and Shaksperean reader stands high. Mr, Gt. lair bas a fine personal appearance and an excellent voice. At Niblo’s Garden thore will be no performance this evening, in order to give an opportunity for a rehearsal of be grand ballet, “Boreas,” which is to be brought out te morrow. The price to the upper boxes is now reduced te twenty Qve cents. At the Bowery thestre Mr. Eddy announces’ “Waner Tyrrell, or the Saxon’s Oath,” the “Drunkard” (in which ©, W. Clarke plays), and the “Ooean Child.” Mr, Kady plays first pleos. At tho Museum Miss Williams, the Woloh Nightingale, Commences the fourth week of ber engagomont, and there are various otber good things in the bills. Wood's Minstrels are about to move to their new bulld- tpg, and anmounce some extra entc:tainments at the old the “Nozze di Figaro’ and “Ii Matrimonio Segrete’” will be produced. A\ Wallack’s they are provering e new cl , aald to be by Mr. Bow Seonmsh ‘brings oy reicault. At the Broadway, Of the Biante Legislature by large majorities. Io the Sixtm Congressional district, Jacksow, demoorst, is lected by Wo thousand majority, The Congressional delegation tands six democrats to two Know Nxthings—s deme ratio gain of one. The delegation is as follows— Diath. 1—Jamee L. Seward, dem vorat. juary, Information has been recei vod a the State tn Wasbington of the murder, in ihe distriet of te mee Of Panama, New Graneda, by’ vars of that cvontey, 0