On this page
-
Text (2)
-
Untitled Article
-
Untitled Article
Note: This text has been automatically extracted via Optical Character Recognition (OCR) software. The text has not been manually corrected and should not be relied on to be an accurate representation of the item.
-
-
Transcript
-
Note: This text has been automatically extracted via Optical Character Recognition (OCR) software. The text has not been manually corrected and should not be relied on to be an accurate representation of the item.
Additionally, when viewing full transcripts, extracted text may not be in the same order as the original document.
Untitled Article
ambassador in this country . But what are the facts f The facts are that the positions e « iiabiisted by Mr . Buchanan have "been secured by his country , and ceded by this eoantry . The ! Pi * ee states possess a majority of 177 to 120 over the Slave states . TvFQ of the Shvve states , Kentucky and BJfopyland , fcave gone with Feemont ; &o that if it had re » lly been a question between freedom and slavery , between the Uorth and tbe South , the Northern could have crushed the Southern party , and the EepubHean candidate would now have been the President .
for the dear departed . In the meanwhile , the true stronghojd forth , © settlement of all these difficult questions , for the pronaotiqn of America ' s prosperity , ker strength against enemies , and influence with the world , is the upholding of American institutions , the vuidication . pf ji ngjp-4 . meric 4 n freedom , and the defence by theTjm'ted Governinent of Sfcate lights . "We look round the public men of the "Union , who
are known by the avowal of their sentiments in their most unguarded inoments , tk . ejr actions in the fa , ce of the world , their trieci consistency , and we look in vain to find a man who , at this period of conflicting questions , at home and abroad , can so completely , so tpust-YForthily represent A-fliericau interests , A . inerican institutions , and American feelinga , as President Btjghan . a .: n .
we are not £ ware that throughout Mr . BucHA . ^ TAir ' a official career he lias ever been found upholding the cause of injustice , or has ever been deaf to the plea of injustice . Could Dnglisli Ministers bring forward an accusation against the man who has quietly defeated them at every point , out the accusation would come . They are silent ; they can
only give vent to their feelings by ostentatiously parading his successor . Studiously plain in his own appearance and demeanour , courteous and accessible to all , James Btjchakajs" is about tlie best man , perhaps in the whole world , to represent America at the present moment . He is not a Pro-slavery man : he is as little that as he is an
Abolitionist . He has no hostile feelings to England— not even to official England—still less to the people of this country . He has no Republican rancour against courts ; though he was riot quite so bitten by court notice as some more hot-ieaded "Republicans have been in ^ London and St . Petersburg . ! Familiar with the institutions of his country , he is equally familiar with / the customs , the habits of thought , the institutions ,
the circumstances , and tendencies of the chief European countries . He knows what can be done with them , what cannot be done : ; he can compare the powers of his own country with the powers of Europe ; he knows where interests conflict , and where they agree ; he is quite aware that in the great body of the English people there are two guarantees for continual accord with America , gigantic material interests , and a strong family feeling of friendship . There is no man . who has
so extensive a personal acquaintance with men and things throughout the world ; no man who holds in liis head , ready for application at the moment , so comprehensive a grasp of his own country's history . Beloved by his friends , respected by his countrymen , conscious of a wide influence , patient and persevering , he is not addicted to impulse , nor cloes he rely in contest upon vehemence . He is therefore essentially conciliatory in his demeanour . No man better understands the
impolicy of rapidly extending the territories of the tJnion , the utter inexpediency of taking into the Tederal ^ Republic any alien state Buch as Mexico ; while from the nature of things and from experience he must perceive the impossibility of refusing admission to any newly-peopled Anglo-American state demanding it . His democratic respect for state rights would forbid him to dictate the institutions of a state . His election we regard as a declaration of the resolve of n
vast majority of the American people that they have not federally arrived at the period when they can settle the great question of alavpry . They decline to settle it ; they leavo the settlement to time . And they are justified by the opinion of the best men of their country , ¦ who . Bee that in population , freedom of action , wealth energy , territory , and votes , the North is steadily outgrowing the South . They see in the progress of republican institutions , with the consequent freedom of discussion and of action , that at some day not yet fixed , slavery Vrtldie a naturaldenth , without any federal invasion of State rights , or any unnatural regret
Untitled Article
THE OTITED DEFALCATION , GAROTTE , AM } GENERA ! APPROPRIATION COMPANY ( LIMITED ) . Extensively as the principle of joint-stock association had been applied , its crowning triumph was still wanting- One branch of business had been strangely neglected . It seems , however , that the neglect was more apparent than real . Our readers will understand that we allude to the field of commerce
in which Hedpath , j Robson , ViLijiEits , Cole , and others can scarcely be called pioneers , since they were only following , in happier times , the example set them by earlier men ; and they have not struck out that idea which would give perfection to the system . Even the genius of Joseph "Windle Coxe
which we are far from underrating , failed to hifeupon that ¦ crowning- measure ; yefc he seemed on the very threshold . Indeed , we are not sure that the merit of the suggestion can be completely denied to him ; but it almost always turns out in the case of anew invention that it is claimed for many inventors . . Bessemer finds several to
contest his patent ; ^ Vheatsi-one aud Beewstejk are disputing the first invention of the stereoscope ; and we are not sure that the author of the new system which is about to be introduced—if it is not already in operation—will not find himself confronted by claimants to the invention . Its plan is as gigantic as its arrangements are practical . -. The discovery was brought about by mere accident . It is well known that the successes of Hobson
and Eidiate have led to scrutiny in other companies , and , -wo may add , in private firms ; and one investigation in particular has occasioned disclosures still more startling than any yet published . The first event , hitherto shrouded in impenetrable mystery , was the arrest of a gentleman who had until now stood high in the world of fashion and politics , an habitue" of our
"Wostend salons , a contributor to several public charities . We know the uneasy feelings which this description will create in , many respectable circles ; but " \ ve trust that we are not yet arrived at the day when the mere fact of a gentleman's supporting a large establishment , associating with "West-end society , and subscribing to charitable institutions , must necessarily expose him to suspicion ? No ; wo venture to asserb that there are still
some to whom the description will apply , still some in the lists of subscribers to charitable institutions whoso conduct is inreproachablo , and who havo not , oven by their family ties , any connexion with this very questionable branch of commerce . Our readers may smile , but wo only atnte our sincero conviction . Among the papers found in tho mansion of the gentleman whose conduct is under scrutiny was ono which instantly attracted interest , succeeded by amazement and admiration , at its audacity . It was nothing more nor less than a prospectus of " Tho United
Defalcation , aaro ^ e an * general Appro , pr ^ ation ( Company ( linaite / i ) . " ~ MW _ We regret muea thafe the length of thin document prevents our giving it entire but even from a cursory and necessarily iirmerfer * descpiptfon , - its trul y practical character 5 foe at -once perceived . I ± was headed "PPi vate and Confidential , " end very few copies we believe . Lad been struck off ; since it was only intended for the privileged few who could tftk © $ leading part as promoters of the undertaking .- The proposed capital -wZ 2 , 000 , 000 ? ., which may at the first blush seem large ; but on learning the objects of
tue Company , to * . only wonder is p \ at its projectors , wh £ evidently wnderstood their business , could have expected to start on bo small a basis . It is , however , remarked that the Societ 6 de Credit ftfobilier has no more . th , an £ , 4 QQ , QQ 0 Z , of paid-up c ^ pitaj , yet it ; can command a fLoating capital of 4 , 800 , 000 ? . besides j and there are some other joint-stock associations in Paris and London that are strictly in poia £ . ^ " ' The business of the Company is divided
into several departments , the object being to secure unity of action over a very wide field . 3 Tor unity gives many guarantees qui , te unattainable by the chaotic system , or racier want of system , which bos hitherto prevailed , and to which the lamentable misfortunes of able and estimable men like REDP 4 . T 11 , Sadxeik . Cole , and othera are mainly attributable . The justice of this calculation will ibe seen in . the sequel . The most extensive section of the great scheme is the Defalcation Department .
The data on which , the plan for which this department was laid down are interesting . The aggregate capital of the British railways alone is 300 , 000 , 000 ? . ; in one single railway conipany , one man was enable ^ to create an additional capital perhaps imperfectly stated at 200 , 000 Z . The aggregate capital of the other joint-stock companies is only in part ascertained ; that of private firms is unattainable ;
but the whole undoubtedly amounts to some ten places of figures . It ia believed upon sound data that the amount realized by defalcations bears no mean proportion to this magnificent aggregate of wealth . Theascortained sums involved in great defalcations alone , within the last two years , range from 30 , 000 Z . ( Robson' s ) to 600 , 000 / . in the case of CoiiE ; and the total of tho half-dozeji best known cases is between two and threo
millions ! This is quite irrespectively ot many minor cases , and of c misfortunes' in trade . It is irrespective of bill transactions , and of minor embezzlements . These few facts , selected from a great number which it niigbt be impolitic to publish , show the magnitude of the trade even in . its present imperfect state , and the expansion which might be caused by practical improvement .
Tho modus eperandi is interesting . The Company is managed by directors , under a patron , a chairman , deputy-chairman , and secretary . The shareholders arc divided into passive , and active—a . classification suggostccl by the naturo of the enterprise . A passive shareholder only draws dividends ; the active shareholder is one of the many agents of tho Company ; but both capacities may be united . The directors , amongst whom probably would be men of title and high position , no doubt lace
associated with other companies , would p tho agents of the Company wherever it was possible to find a post of trust or opportunity . The different methods of securing returns would be adapted to the plans of the diilereufc companies upon which the new Conipnny would operate . Tho alteration of figures on tho coupons and registers , the substitution 01 specially prepared shares , tho acquisition 01 shares unknown to the owners and their sale , tho drawing of dividends on vouchers belong-
Untitled Article
mA ¦ . » ' .: LEADER . p ^ . 348 j 8 j , TORI ) AT
-
-
Citation
-
Leader (1850-1860), Nov. 22, 1856, page 1114, in the Nineteenth-Century Serials Edition (2008; 2018) ncse2.kdl.kcl.ac.uk/periodicals/l/issues/vm2-ncseproduct2168/page/10/
-