The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-02-09


The Spring trade for the year 1912 is beginning to
open about these days, ia this commercial meropo-
It's, on new and important footing. The auspices
are highly favorable-the prospects cheerful.
From all the events taking place around US, ADD from
the remarkable facts developed relative 10 the animal
productions Of this remarkable country, il is very
evident, that ia every species OF wealth and industry
this noble country is richer, healthier, happier than
the most sanguine imagined. The applications Tor
getting rid Of their debts, under the ne Bankrupt
Law, seem TO be utterly insignificant in point of
numbers, influence, or character. Not two hundred
persons, in all large cities have yet applied and
those are jast such persons add any thing to
natural wealth naturn industry 1t true the debts
OF some of the States appear large and very heavy,
amounting to about $500 900, 000-but wncn it is
known that the surplus wealth of this country, for
one year, with economy and prudence, is capable
of paying up one half OF the debt, who should be
frightened or talk Of reputation about the interest!
With an annual produce, in agriculture, fisheries,
Mines forests, and manufactures equal TO 1900 mil
lions dollar II would seem to be very easy to re-
organize anew the state and general government
hnances-to manage the currency-and to complete
all really useful public works, be they railroads or
canals Why then should not trade revive, and
public and private credit be invgorated, by pur-
suing right and honest course of policyi There is
no obstruction, but what we fad in the clamors of
few paltry spectators out of Congress and State
Legislatures-and the folly and squabbling Of many
foolish legislators in both such public bodies
Under this general aspect of affairs, there is every
prospect that the trade OF 1912 will revivethat pub
lie and private credit will come up again-tha the
country will go on to prosper, by pursuing right prn
cipes
The first thing to be done, is, for Congress at
to stop their squabbes and to settle the currency
and other questions The next thing is, for all the
suspended banks that resume, 10 resume at once
and to compel the rotten banks 10 wind up-dis-
miss their incompetent or dishonest officers-and
make them farmers to gain livelihood. Toomany
have crowded the commercial and financial ranks of
life ,and too few have turned their attention TO agricu
ture and honorable labor, which will always return
an equivalent, equal to human comfort and susie
nance.
In this city, the prospect OF real business has not
been better since 1896 1t is true Wall street is
down. and many of the spectators there in agony
but Wall street is not New York-nor is New York
the State-nor is the State the whole Union There
is vast quantity of healy business doing here very
quietly the right principles-cash short credits
and if Philadelphia, Baltimore, Mobile, New Orleans
and all the other large cities, would close up their
reten banks, and compel their good banks to resume
specie payments, all would be as merry as church
bellin spring morning. Take an instance-Buffalo,
in this State, is without bank-all are gone-yet
we arc hlormed that the prospects for 1872 in Buff
faio, fer good sound business, were never better
In Pittsburgh, they have the stocks for this year.
about 20 new steamers This is sample Of all the
great inland commercial towns. ift WV ~
With these general views, based on inquest :ona-
BILE facts, positive that the trade for Il II,
will be better than that for any year since 1885,
provided the commercial and financial classes, make
the start on right princples-such cash and short
cred;ts-a Pcqer currency invariably payable on de-
mand in speceand the resuscitaiion Of public credit,
BY tive imposision Of tare by Congress and the States,
to pay their expenses hone,y-and to msetM interest
on their pubic debts. Let us not be any longer the
sport Of rascally politicians President manufac-
turers, dishonest fnancers, bankrupt spectators.
1t is time, therefore, for our commercial men to
begin moving-and the first movement to be made,
is to advertise literally and largely in those news
papers that advocate sound doctrines in trade, and
have general circulation over the whole country
the first of this class is the New YeRK HERALD,
which has circulation Of nearly thirty thousand,
throughout the Union, emOng the cash and short
credit men of business. word to the wise is
enough Let us take the first step Alright, and all
will end right.