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As one of our city Bank president's his position has always been an influential one. It was through his efforts, and those of the presidents of the leading banks, that the panic of 1860 was allayed in twenty-four hours, by promptly making their specie a common fund. In the same month (November) of that year, he addressed a public meeting of the merchants relative to the presidential election. In that address, which was delivered in the Exchange, he took the ground, that it was of the utmost importance to elect a President. He advocated the election of Mr. LINCOLN, because no other candidate could be chosen by the people; and if the election went to Congress, the consequences, in the then state of the country, might be of a very serious character. It was probable that members of Congress would be found in sufficient numbers to oppose the election of a President, and thus the country might be plunged into anarchy.

He also took an active part in the effort toward city reform, presiding at a mass meeting of the people in favor of that object at Cooper Institute. His speech on that occasion was published, and circulated throughout the city. As a member of the Chamber of Commerce, his efficiency has been demonstrated by his repeated election as one of the executive committee. In the Bank Clearing-House Association he has also been one of the most active members on committees, and the duties connected with this association have been particularly arduous, since the breaking out of the insurrection.

In April, 1861, he made a speech in favor of the Government and the suppression of the rebellion, at the first meeting called in New York for that object, at the rooms of the Chamber of Commerce. This preceded the great union meeting at Union Square. He closed that speech with the offer of a resolution, which was adopted, providing for the appointment of a committee of merchants and bankers, to aid the Government in placing the requisite loans for supporting the national finances. He was chosen a member of that committee, and from their labors resulted that celebrated union of the banks of New York, Philadelphia and Boston, from which Mr. CHASE obtained his first supplies for the support of the war, to the extent of about one hundred and fifty millions of dollars.

The financial support of the Government, from motives of patriotism, has continued to employ Mr. GALLATIN's best efforts, during the whole progress of the struggle; but he differed with Mr. CHASE upon several important points. He opposed the issues of government legal-tender paper money, and constantly warned Mr. CHASE, in letters, which were published, of the consequences-producing, in these letters, liberal contributions from that accumulation of knowledge upon financial and economical affairs, which he has acquired from experience and research. He is what is called "a hard-money man." He explained the phenomena of the currency and the exchanges, and the practical operations of banking. He proved the power of the natural laws governing these, explaining all those consequences of increasing the measure of value, or quantity of lawful money, beyond the normal value, which have now become matters of history. His efforts to avert the excessive augmentation of paper money brought down upon him the fierce denunciations of excited partizan journalists. His loyalty was even called in question, although he had labored to secure the election of President LINCOLN, and was favor

able to the administration. He was attacked in Congress, in one of the most virulent personal speeches of the Session of 1863-64, but his excellent reply, which was published in pamphlet form, left but little of his antagonist. For some months he was badgered and abused in several newspapers, either editorially or anonymously, but his opponents have lived to deplore their errors, if not to confess that he was right. Even of Mr. CHASE, since he resigned, it has been stated, in an editorial article in one journal, which had advocated his measures, that he had serious doubts from the very first, as to the advisability of making the paper issues a legal-tender.

Mr. GALLATIN Suffered a great affliction, four or five years ago, in the death of his only son, ALBERT. Endowed with the finest intellect, and having acquired all the knowledge of the schools, no young man could enter into business life with a more brilliant future than he did. He chose the legal profession, and had commenced a lucrative practice; a young family, of the most endearing character, blessed his domestic life, and everything around him betokened a career of usefulness, of distinetion and happiness. But it was otherwise ordered by a wise and beneficent providence. He was suddenly prostrated by sickness. His parents went with him to Europe, where the greatest skill proved, as it had at home, of no avail. His death was a sad blow to the fond hearts united to him in family ties. His parents, to make up for their loss, at once adopted, into their own family circle, the young household thus suddenly bereft of paternal care. They are now living over again, with their daughter-in-law and their two grand-sons, that interesting period in the lives of parents, when their care and attention are devoted to the education of a young family.

Mr. GALLATIN's devotion to the welfare of his fellow men is a remarkable trait in his character. His time and means have been freely spent upon objects of this kind. He is very frank in his manner-so much so, that superficial minds judge him harshly, attributing to him a want of feeling, when in fact they censure the evidence of that earnestness and good faith, which give a high moral tone to his character, and guarantee the perfect integrity of his spirit. As a writer, his reasoning powers and force of expression very much resemble those of his father. He composes with accuracy and rapidity, but having had his right arm broken near the wrist, he requires the assistance of an amanuensis in prolonged literary labors. His library, next to the family circle, is his favorite resort, although he is a noted pedestrian, and very fond of out-door exercise. It is by active exercise and temperate living that be preserves his excellent health and his youthful appearance; for, although now in his sixty-eighth year, he looks eighteen or twenty years younger. His collection of books upon political economy, embracing all the departments of that science, is probably the most valuable private one in Europe or America. He has a large part of the works of this kind, which his father collected in Europe, and has added the later publications, together with several thousand volumes of standard works, embracing the other sciences and general literature in several languages. Such a library, in the possession of one, like Mr. GALLATIN, with the disposition and ability to use it in every day life, is truly invaluable. It furnishes not only pleasure and information to the possessor, but it becomes a source of wealth and profit to the com

munity. There is great difference in this respect among men. Many seem lost to know how to apply and use what they read; and, yet, if we would have clear sailing for ourselves or our country, especially in such times as these, we must search for, find out and use, the channel, which the events, that have passed into history, so clearly mark out. Would that all of us would study the lessons of the past and profit by them!

We have already referred to Mr. GALLATIN's ability as a public speaker. One of the latest incidents of his life illustrated this power-we refer to his expostulation with a mob, which had gathered around a newspaper office, threatening violence for some alleged offence, which the editors had committed in their editorial articles, relating to public affairs. The mob were too powerful for the policemen present, and there was every prospect of their doing serious injury to the office, before a sufficient police force could arrive to disperse them. At this juncture some one present recognized Mr. GALLATIN and spoke his name, when it was at once taken up and shouted through the crowd. The opportunity thus given he improved to address them, and his eloquence, always earnest and engaging, had at once the desired effect; for there was no more talk of violence. He held their attention for a few moments and then dispersed them. The police, who had been sent for in force, arriving only to find the streets already cleared.

We might extend this brief record, by the recital of many other interesting facts and incidents in the private and public life of Mr. GALLATIN. Yet we have said enough to illustrate his sterling character, and to indicate the important part he has acted, and is still acting, in his country's affairs. We have seen that his younger life was one of peculiar temptations. The possession of money, flattering friends, and gay society, are very severe tests of character-few are able to withstand their influence. Thousands of young men, tried in such a crucible, are ruined every year. Yet it is only through temptations and difficulties that character is developed for this is the refining process-the weak one thus brought to show their weakness, the strong, their strength.

CONQUEST OF MEXICO BY FRANCE.

(NUMBER II.*)

T. M. J.

SOME men are born to be distinguished. A strong interest attaches itself to them, and separates them from the common crowd, making them prominent characters on the page of history. Their most trivial acts are closely scrutinized, and their chance words are invested with more than ordinary meaning. It is not that they possess extraordinary powers; that they are endowed by nature with a superior genius, which, whether well used in the cause of right, or perverted to purposes of evil, still exalts them above their fellows; but to circumstances and position alone are they indebted for the consequence, which attaches to them. It is because they fill high positions of important trust; because their words and actions (whether original or inspired, is of little or no moment,) have a practical significance, and powerfully affect the well-being of whole communities.

Just now, and for such reasons, the public eye is fastened upon the Arch-duke MAXIMILIAN, the present Emperor of Mexico. We do not mean to affirm that he is not a man of ability and acquirement; that he has not filled many positions in which he has been placed in a manner creditable to himself, and worthy of his illustrious descent, or that he would not be a prominent man in ordinary circumstances of life. He may possibly be all these. Still there are thousands possessing as much ability as he, who, strutting their little hour on the stage of life, pass off, and are forgotten. But the Emperor will always be a character of interest; whether he possesses any extraordinary capacity or not; whether he succeeds in his endeavor to found an empire in Mexico, or fails utterly in the attempt, his name is written on the annals of the Mexican Republic, and will be inextricably woven into the story of American history.

The death of the Emperor Charles VI., which happened on the 20th of October, 1740, left the house of Hapsburg without a male descendant. It had been the anxious care of this monarch, to secure the succession of his daughter, MARIA THERESA. An acknowledgement, known by the name. of the Pragmatic Sanction, was accordingly obtained from the different European powers, by virtue of which the hereditary possessions of Austria should, in the absence of male issue, pass to the female branch. MARIA THERESA had, however, no slight difficulty in obtaining the fulfillment of this compact. CHARLES ALBERT, Elector of Bavaria, pressed his claim, as descended from the Emperor FERDINAND I., and his cause, being espoused by some of the other European powers, endangered, for a time, the succession of the daughter of the deceased sovereign. After a

*The previous article on this subject, and of which this is a continuation, will be found in the June number of the MERCHANTS' MAGAZINE, page 415.

good deal of opposition, CHARLES ALBERT was elected Emperor of Germany, under the title of CHARLES VII., and MARIA THERESA, succeeding to the Austrian estates, was crowned in Prague in the year 1743. Her husband, FRANCIS STEPHEN, of Lorraine, upon the death of CHARLES, was invested with the imperial purple, as Emperor FRANCIS I., and the heirs of the two great houses of Hapsburg and Lorraine have ever since held undisputed possession of the Austrian sceptre. JOSEPH II., son of FRANCIS I., and MARIA THERESA, Succeeded to the Empire in 1765. He was a well meaning man, but a little in advance of his time. Endeavoring to introduce into his empire higher principles of civil and religious liberty, he was brought in direct opposition to all the fanatical tyranny of the Romish church. He was succeeded by his brother LEOPOLD, who was crowned in the year 1790. His death made way for his son FRANCIS II., of Germany, and I., of Austria. He, in his turn, was succeeded, in 1837, by his son FERDINAND II., who abdicated on the 2d of December, 1848, and fixed his residence in Prague. The Arch-duke FRANCIS CHARLES, the brother of FERDINAND, also renounced his claim to the succession, and FRANCIS JOSEPH, son of the renouncing Arch-duke, became Emperor. The Arch-duke MAXIMILIAN is his brother, and, in case of his decease, would have been regent during the minority of the heir apparent. He was commander-in-chief of the Austrian navy, and has been Governor of Lombardy and Venice. The experience he has had in the art of government, and in building up the material strength of a country, will certainly be of great use to him, in the difficult position in which he is now placed.

The long season of disturbance and anarchy, which has swept over the Aztec table-land has made a period of repose to be most eagerly desired by its war-wearied inhabitants. The fiery education, which they had been receiving, led us to hope that some government strong enough to preserve internal peace would result from it; that the genius of President JUAREZ would establish a permanent tranquility, and that under its benificent influences Mexico would take that stand among the commercial nations of the world for which she is so eminently fitted. But we have been doomed to disappointment. Just at the time when our hopes seemed about to be realized, and the by-gone period of anarchy and mis-rule about to pass away, the French Emperor, under the pretext of demanding the payment of certain money, claimed by his subjects, has invaded the country, and, by a system of treachery and deceit, aided by 30,000 of his best troops, forcibly placed a foreign prince on a throne, built upon the ruins of the republic.

The emperor has done what he has constantly been declaring, was the very farthest from his thoughts. Over, and over again, did M. THOUVENAL declare to the English and American ministers, that France had no intention of interfering in the internal affairs of Mexico. In July, 1862, Gen. FOREY received a communication from Louis NAPOLEON himself, in which he says: 66 The end to be attained is not to impose on the Mexicans a form of government which will be distasteful to them." Immediately after this, Gen. FOREY marched into the capital, and the Council of Notables, under the direct influence of the French army, and of the exiled members of the church party, declare the Republic at an end, the Empire established, and the Austrian Archduke Emperor! This may be a very satisfactory mode of procedure in some quarters; but as the Council of No

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