The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-12-07


b bass.' Of price here 1899 sSs I Is%
Here will be that the tariff OF 1928 was too high
to permit the import of iron without loss and consequent
ly but little imported The swelling paper currency
in both countries carried prices in 1885, home and
abroad. and the advance great here to allow
the English iron Sc per his ron and
to send 1t here and pay the duty leaving profit of
$4 per ton The paper money received for the goods
not carried TO England but Immediately converted into
which carried London deposited in the vaults
ofthe Bankof England that institution at the
expense Of those in the USates double operation thus
vors Euglandshe sells her goods obtains the CON- and
strengthens her bank. The same paper system
which the rise of prices and the import goods
enables those goods to be consumed credit which is
continued until the importers of the goods have drained
the banks Of their coin and send abroad The banks
must then stop specie compel the planters
pay upif there is short crop, they pay. The
English Dealers then after having drained banks of
their coin, hold through them, the whele country in
bondage All this nures entirely the benefit of Eng
land, and the English capitalists Hence it is that the
New York Courier the Savannah Republican and all the
organs of the foreign interests clamor for tariff "o pro-
tect American interests" when they know that the paper
system which they also seek establish will defeat they
very object that they pretend to seek.
We have received the message of Governor Morehead
of North Carolina II is a singular document and
from perusing it, should judge his Is indicative
of his wants. The document is mostly filed with State
affairs 1t appears that the State with hitherto no debt
has loaned its credit as follows:-
To the Raleigh and CASTOR Railroad bonds $500 600
Wilmington and Raleigh A" $50 900
rotal ST. $50 900
and has subscribed 100000 to the stock of the latter
company. The interest these bonds to be paid by
the roads, If they enough. The Governor then
remarks folows:-
ii would recommend, that whatever schemes of expen
diture you may embark In, that you keep within the
the command Of the State otherwise The peonle
must be taxed more heavily, the State must contract
loan The pressure of the times forbids the ormerhe
furnished honor Of some of the States should make u.s.
for the present, decline the latter"
This is very just He then makes some virtuous de-
nuncations against reputation which, considering that
the State yet owes nothing, but 6orroU do not
pass for much. The Governors remarks upon the tariff
ludcrous. After praising the late high tariff and
stating that there be prosperity or revenue from
the customs, without prohbitoy imports he remarks as
follows:-
81 do not wish to be understood as advocating high
tariff contend Tor the power to impose it if we think
interests require it. advocate the doctrine of free
trade as far as is practcable but when it ceases to be
practicable unless at ruinous sacrifice u.s. alb andon
It, and say to the word'We will dounto others as they
do unto u.s."
He further states that there due the State 500 el7
from the proceeds of the public lands and he daily in
expectation Of getting hold Of it.
The message OF Governor Reynolds. of Missouri has
also come to hand-t is able document In regard to
the State currency, he remarks follows:-
with such advantages nothing but own shortsigh
ed policy can retard advancement Freed from the
miserable and worthless currency that has like an
incubus upon our energies would find its place sup
piled by sound and intrinsically valuable circulating
medium Our people would then gradually certainly
from their present and all would
fully realize the truth of that axiom in political economy
production is the only true source Of wealth. 4"
The receipts into the Treasury of Missouri the two
years ending Sept 80, ls42 s2665Is and the dis
bursements $3.50 $780, leaving balance on hand of ss2
$685. In relation to the distribution of the public lands he
remarks as follows
"The folly and utter absurdy of the are seen in
the notorious fact that every dollar distributed must be re-
funded by increased taxation upon the people, attended
with the additional cost OF collection Thus the act as
financial measure idle ceremony by which the
money given with the hand is taken back by the
other"
Sales at the stock Exchange,
10000 NY State Is 1919 Ioh IS shas Mohawk, bso 3a,
23o0 60 SIS 1855 IS Is do boo 93l1
1000 Ohio 6's, 1850 II as do Harlem l5Z
1000 Kentucky 6s 77k 200 do b4m I6