DN SEVERAL nAILNOAl


I8d1 AMI IQAf
{"newspaper_name": "The New York herald.", "edition": "01", "page": "p3", "byline": ""}
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To June 9th.


OF these roads only seven pay dividends, vz:-the
Western, Hartford and New Haven Norwich and Wor-
cester Boston and Worcester Eastern South Carolina,
and Central Geo. The Long Island will probably pay
dividend soon but very doubtful when the Harlem
Housatonic, Stonington, Erie, and Reading do.


subscriptions to new railroad stock, amounting to four
millions Of dollars, have been made in this city during
the past month"; and amount somewhat larger has
taken in Boston Railroad lines in of compile
tion contemplation that will within the next FIVE years
absorb than twenty millions of dollars very little
of which will be derived from foreign capitalists The
railroad mania throughout Europe has been produced
principally by the expansion Of the banks and fac


ties extended by these institutions to those who wished
to embark in these specuations The immense amount
ofide capital in the hands of the public and private banks
OF Great Britain compelled them seek some method of
giving it employment The capital employed in CON-
mercal pursuits was found TO be sufficient carry on


Legitimate line of business and there appearing pros
pect of any speculative movement coming up in any Of
the staple articles Of trade the only way give activity
to their accumuating means to encourage specula
ton in railroad shares which has been successfully
carried out far The movement is about being
carried out in tins country. The demands upon our
banks from the commercial classes have for some time
past been verymited and business our principal cities
being conducted upon the cash ystem than ever
before the banks do not occupy that important position
they did some time since They are, therefore, compe
ed to look about for other methods of employ their
capitals, and WILL without doubt encourage the specu
latons going in and old railroad stocks There
is steady increase in the banking capital Of the States
without corresponding demand for bank facilities from
those transacting the legitimate business operations of
the country The incre ase, therefore, in the capital
Banking institutions and the increase in the number Of
banks endangcrs the general prosperity all classes
IT increases the probability OF speculative movements OF
every description being promoted and encouraged in
every way The banks will be compelled to to
the most desperate operations and force favors upo
all classes to exc out the most trning dividends.