The announcement startled the world and opened a new era, not only to Europe, but to mankind.

Extending the metallic basis, which no man better than Mr.Gallatin recognized and held to be the true solvent of money transactions, it postponed for a half century the inevitable conflict between capital and labor, the first outbreaks of which in Europe had been with difficulty suppressed, when the news of good tidings gave promise of unexpected relief.

Credit revived, new enterprises of colossal magnitude were undertaken, and the demand for labor quickly exceeded the supply.

Emigration to America rose to incredible proportions.

Had Mr.Gallatin lived, he would have found new elements to be weighed in his nice balance of probabilities.