Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1842-02-08


The Spring trade for the year 1872 is beginning to
open aboutshes days. 10 this commercial mesropc-
l.s, on new and important footing. The auspices
are highly favorable-the prospects, cheerful.
From all the events taking place around ne, and from
the remarkable facts developed relative TO the snnna
productions Of this remarkable country, il 10 very
evident, that every species Of wealth and industry,
this noble country is richer, healthier. happier than
the most saneuine imagined. The applications for
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 oil our large cities, have yetapped, and
those Just such persons never add any thing to
natural wealth or naturnlindustry IL true the debts
Of some of the States appear large and very heavy
amounting to about $500, 600 OO0-but wnen 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
frigh,ened, talk of Reputation about the Interest!
With annual produce, in agriculture, fisheries,
mines forests. and manufactures, equal to 1000 mil
lions Of dollars, il would seem to be very easy to re-
organize anew the state and general government
finances-to manage the ourreney-andto complete
all really useful pu0e works. be they railroads or
canals. Why then should not trade revive, and
public and private credit be invigoratsd, by pur-
suing right and honest course of poicyl There is
no obstruction, but what we find in the clamon of
few pary spectators out Of Congress and State
Lsgslaures-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 1872 will revive-thst pub
lie and private credit will como up again-that the
country will 60 on to prosper, by pursuing right prn
ciples.
The first thing to be done, is for Congress at oace
to stop their squabbles and to settle the currency
and other questions. The next thing is for all the
suspended banks that resume. 10 resume at once
land to compel the rotten banks 10 wind up-dis-
miss their incompetent or dishonest officers land
make them farmers, to gain livelihood Toomany
have crowded the commercial and financial ranks Of
life and too few have turned their attention to agcul.
ture and honorable labor which will always return
an equivalent, equal to human comfort and susie
nance. A Tsr agua ~ y'aro1
In this city, the prospect Of real business has not
been better since 1895. 1t is true Wall street il
down, and many Of the spectators there are in agony
but Wall street is not Newy ork-nor is New York
the State-nor Is the Skate the whole Uaion. There
vast quantity Of heay business dsiug hero, very
quietly, on the right prnciples-c short credits;
and il Philadelphia, Baltimore, MOBILE, New Orleans
and all the other large c.es, would close up their
rotten banks, and compel their good banksts resue
specie payments, all would be a. merry - ohursh
belliaa spring morning Take an instance-B Buffalo,
in this JasaAa, il without bank-all arc gens-yes
W sypal aed that tho prospects for 1912 in Buf.
6s> AENossd sound business were never better.
In Pburgh. they have on the stocks for this year,
.hcrt yoavo Ia q ro.,l~ cf> H.