The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-02-08


The Spring trade for the year 1872 is beginni.a to
open about these days. 10 this commercial metropc-
l!s, on a new and important footing. The auspices
are highly favorable-the prospects, cheerful rs
From all the ntsakisg place around US and from
the remarkable facts developed relative TO the annnal
productions Of this remarkable country, il is very
evident, that in every species Of wealth and industry,
this noble country is richer, healthier, happier. than
the most saaeuine 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 large Cities have yetapplied and
those Just such persons never add any thing to
natural wealth or narurnlndusty IL istrue the debts
of some of the States appear large and very heavy,
amounting to about $200, coo 0O0-but when 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 i.,erest!
With annual produce, ia agriculture, fisheries,
mines, forests and manufactures, equal TO 1000 mil
lions Of dollars it would seem to be very easy to re-
organize anew the state and general government
finances-to manage the ourreney-and to 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 poieyl There is
no obstruction, but what we find in the clamos Of
few paltry spectators out Of Congress and State
Legisla,ures-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 90 to prosper, by pursuing right prin
cipes
The first thing to be done, is for Congress at once
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-dls-
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 agcul
ture and honorable labor, which will always return
an equivalent equal to human comfort and susie
nance. Ai ~ A4pl SF t 300
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 rs the Slate the whole Uaion. There
u vast quantity Of healy business dsing here. very
quietly on the right principles eosA or short s';
and if Philadelphia, Baltimore, Mobile, New Orleans
and all the other large cities would close up their
rotten banks. and compel their good banksts resue
specie payments, all would be a. merry q ohursh
bellin spring morning Take an instance Buffalo,
in this JAeAa, il without bank-all arc gens-yes
W: spsl aed that the prospects for 1872 in Buf-
Ela,a ARHoesd sound business, w-Fe never better.
In Pittburgh they have the stocks for this year.
about 20 new steamers This Is sample Of al tho
great inland commercial towns. Nfn717
With these general views, based - inquest: ona-
BILE facas We are positive that the trade for laSA
will be better than that for any year since 1885.
provided the commercial and financial classes, make
the start right principles cash and short
ersats-a paper currency inuoriaby payable On DE-
maad IN specie-Gsd the rssxsctat;on of PxbIc credit,
By TIE ;mposion Of tares By Congrsss and tks Saes,
. psy nei expenses honestly to med the interest
on Eke1 pwbic ashs. Let US not be any longer the
sport Of yascally politicians President manafac-
turers dishonest nanciers or bankrupt speculators
II is time, therefore, for our commercial mea to
begin moving-and the first movement to be made,
il TO advertise literally and largely in those news
papers that advocate sound doctrines in trade, and
have general circulation over tho whole couatry
among the best and eoaadest business men. Among
the first of this class is the Nnw YsRk HEaALp,
which has a circulation of nearly thirty thousand,
throughout the Union, among The cash and shost
credit men Of business. word to tho wise -
enough. Let us,ake the first step Alright, and all
win end night. tr =. 4
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