town will awake to a sense of its illusion. What you see here is but
a small part of the extravagance that exists, for it pervades the
whole community, in one shape or another. Extravagant issues of
paper-money, inconsiderate credits that commence in Europe; and
extend throughout the land, and false notions as to the value of
their possessions, in men who five years since had nothing, has
completely destroyed the usual balance of things, and money has got
to be so completely the end of life, that few think of it as a means.
The history of the world, probably, cannot furnish a parallel
instance, of an extensive country that is so absolutely under this
malign influence, as is the fact with our own at this present
instant. All principles are swallowed up in the absorbing desire for
gain; national honour, permanent security, the ordinary rules of
society, law, the constitution, and every thing that is usually so
dear to men, are forgotten, or are perverted, in order to sustain
this unnatural condition of things."

"This is not only extraordinary, but it is fearful!"

"It is both. The entire community is in the situation of a man who is
in the incipient stages of an exhilarating intoxication, and who
keeps pouring down glass after glass, in the idle notion that he is
merely sustaining nature in her ordinary functions. This wide-spread
infatuation extends from the coast to the extremest frontiers of the
west; for, while there is a justifiable foundation for a good deal of
this fancied prosperity, the true is so interwoven with the false,
that none but the most observant can draw the distinction, and, as
usual, the false predominates."

"By your account, sir, the tulip mania of Holland was trifling
compared to this?"

"That was the same in principle as our own, but insignificant in
extent. Could I lead you through these streets, and let you into the
secret of the interests, hopes, infatuations and follies that prevail
in the human breast, you, as a calm spectator, would be astonished at
the manner in which your own species can be deluded. But let us move,
and something may still occur to offer an example."

"Mr. Effingham--I beg pardon--Mr. Effingham," said a very
gentlemanly-looking merchant, who was walking about the hall of the
exchange, "what do you think now of our French quarrel?"

"I have told you, Mr. Bale, all I have to say on that subject. When
in France, I wrote you that it was not the intention of the Frenc