The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1842-08-09


gone for But the principles by which the world
Is governed immutabe, and the operation of these
principles Is ever, from all extremIes produce the
opposite s In all trading commu tiles there are &c
guiar SUGGESTIONS of vigor and relaxaton oil over 90
| ing and lassltude No has been IN trace lot
twenty years without passing through several them
The evuslon which we are now gong through, ms
some features of enlargement which never before e1-
isted Of this the efforts of the U States Bank 10 e1
pand the currency, and its consequent failure ana
annhilation and the borrowing OF vast sums by the
States followed by the entire prosraton OF the credit
of many of them the most prominent The ex-
element caused by high protective tariff, followed
by the comparatively low duties which now prevail,
and the uncertainty which present hangs over the
whole subject, have added not little t., the violence
with which business has gone to its two extremes
These circumstances have rendered the present the
longest and perhaps upon the whole the most dlsas-
rous to private fortunes of all the revulsions through
which our country has passed. Yet in point of deep
general depression she has repeatedly been lower
and as to means of recovery, she Is now better on
beyond comparison, than on many former occasions
We heard one of oldest and richest men say the
other day. that the country in truth never In SO
good state The declaration is nearer true
than first blush view of affairs would lead US to sup
pose Trade never was anything more than an ex-
change o. commodities. Wherever trade has gone
farther, it has ended in bankruptcy. Had country
ever larger amount of surpluses to exchange than
she will have the result of the crops of this year
Had we more facilities TO bringing those sur
pluses to market and taking back their returns In
both these respects position is better than at any
former period. 1t is true that ships earning no
thing and factories earning nothing but the exu-
berant earth will set them both in motion. As to la
Dor, it never as well paid Thousands
we know, will lift uP both hands in amazement at
such declaration. Yet it is true. We refer to the
great of labor, and that is chiefly agricultural,
and we say that never before was there a time when
the wages of labor would procure SO many com
he lab
will pay his passage journey OF two hundred
miles. Would it do that for him twenty years ago!
"A laboring man now upon his earnings, ENJOY
himself he could before. We know that
merchants clerks laborers in factories, and sailors
many of them out of employment, and distressed;
but these occupations always share In revu,sons.
and the number of persons connected with them
who in actual distress, Is not great
In agriculture there revusons Laborers on the
land, out of work in this country, and
never will be during this century or the next. There
are some extraordinary circumstances now IN exist
ence to facilitate the recovery of business, as there
were some to aggravae its downfall The great faci-
lily of internal communication is one OF these An
other is that just at thus time the bankrupt law, with
all the mischies which it brings will disenthrall thou
sands OF men of good business talents, and bung hem
into action Another is, the reduction of duties on
the Importation OF our SURPRISES into the ports OF the
nation with whom our largest trade Is carried on, and
the settlement by treaty with that nation Of several
subjects of controversy which have at times threaten
ed to break up our intercourse entirely. We look
upon the shape of the British laws relative to the ad-
mission of our products into Canada, and the admls-
sion of the products of Canada into the mother
country likely he of immense Importance to the
interests of Western States; while at the same
time under such laws, we consider the ST. Lawrence
much more dangerous rival to the Hudson than the
Massachusetts rail road. England wants what we
have to sell, and while her laws remain at present.
there will be immense quantity of Canada flour,
wheat beef and pork shipped to England. 1t will he
the very soon if it is not now, that English ships
of thousand tons burden up the st. Law
into Lake Ontario and vessels Of three hum
dred tons 90 to Lake Erie and load at Detroit
Milwaukee, and proceed with their cargoes directly
to Liverpool. The night of disaster has indeed been
long and dreary but the morning will be bright, and
the daV prosperous.