The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-02-07

lr5- The New YoRK LANCET, No. 6, very inie-
resliag number, for sale al the desk of this
Office, 81 Ann sreet-prce 81 cents.
Ar5- The DOLLAR WEEKLY HERALD win be pub
hshed tomorrow morning-price cents.
Opening Of the Spring Trade-Advcrtising
The Spring trade for the year 1872 is beginning to
open about these days, in this commercial metropo
lis, on new and important footing. The auspices
are highly favorable-the prospects cheerful.
From all the taking place around US and from
the remarkable facts developed relative to the animal
productions of this remarkable country, 1t is very
evident that in every species OF wealth and industry,
this noble country is richer, healthier happier, than
the mos, saneune imagined. The applications for
getting md Of their debts under the ne " Bankrupt
Law, seem TO be utterly Insignificant in poin, Of
numbers influence, character. Not two hundred
persons in all large cities, have yet applied and
those are sst such as never add any thing to
natural wealth or naurnl industry 1t is,rae the debts
of some Of the States appear large and very heavy,
amounting to about S2OO.OOo. oOO-but wncn it is
known that the surplus wealth of this country, for
one year, with economy aud prudence, i. capable
of paying up one half Of the debt, who should be
frightened talk of reputation about the interest!
With an annual produce, ia agriculture, fisheries,
mines, forests and manufactures, equal 10 I6OO mil.
lions of dollars. it would seem to be very easy to re.
organize anew the state and general government
finances-,o manage the cunency-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 invigorated, by pur
suing right and honest course of policy, There is
no obstruction, but what we find in the clamors of
few paltry spectators out of Congress and State
Legisatures-and the folly and squabbling of many
foolish legislators in both such public bodies. s
Under this general aspect of affairs, there is every
prospect that the trade Of 1912 will revive-that pub.
lie and private credit will come up agan-that the
country will go on to prosper, by pursuing right prn
cples.
The first thing to be done. IT, for Congress at oace
II stop their squabbles, and to settle the currency
and other questions. The next thing is, for all the
suspended banks tina can resume, to resume at once
and TO co me- rotten banks 10 wind up-dis-
miss tier incompetent or dishonest ofiicers-and
make them farmers, to gain livelihood. Toomany
have crowded The commercial aud financial ranks of
le, 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.
been be liter since 1896. 1t is true Wall street is
down,aud many Of the spectators there are in agony
but Wall street is not New ork-nor is New York
the Sta,e-nor is the State the whole Union. There
is vast quantity Of heaty business doing here very
quietly, the right prncipes-casa or short credits;
and if Philadelphia, Baltimore, Mobile, New Orleans
and all the other large Cities would close up their
rotten banks, and compel their good banks to resume
specie payments, all would be as merry as a church
bell in spring morning. Take an instsnce-Bufalo,
in this State, is without bank-al are gone-yet
we are informed that the prospects for 1912 in Buff
falo, for good sound business, were never better
Ia Pittsburgh. they have the stocks for this year,
about 20 new steamers. This is sam nipple of all the
great inland commercial towns.
With these general views, based on unquestiona-
BILE facts, we positive that the trade for 1892,
will be better than thar for any year since 1895,
provided the commercial and financial classes, make
the start right principles such cash and short
credits "a paper currency naVariahy payable on de-
wand in spece-and the resxseitation Of public credit
by The imposition of tares by Congress and the States,
to pay their expenses honestly to meet the interest
their public debts. Let not be any longer the
sport of rsscaly politcians-President manufac
turers, dishonest nanciers, bankrupt spec uators
II is time, therefore, for commercial men to
begin moving-and the first movement 10 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
among the best and soundest business men. Among
the first Of this class is the New YeRK HERALD,
which has circulation of nearly thirty thousand,
throughout the Union, among the cash and short
credit men Of business. word to the wise is
enough Let take the first step Alright, and all
will and right.
REroRrs CoFcREss-The National Intelligen-
cer' has announced its dete animation cease Civ
ing reports Of the debates the House of Represen
tatves, and assigns for reason the constant COM
plants which Mr.. Adams and others make against
their reporters.
The National Inteligencer'' has acted very
properly, bat they might have given better reason
for their conduct. The debates in both Houses Of
Congress, during the last two months, have been 60
utterly wassefuI, puere, imbecie, foolish, personal
and Improbable, that the country has been SO dis
gusted that few would read them. We have again
end again been importuned to wasting money |
IN reporting the proceedings of Congress-, on the
ground that they were disgraceful and valuelees, |
and that we could occupy our space with more va
liable matter. These reports have cost over goo
per week, while in reality they are not worth s. for
he beneh. Of the country the public interests If
Congress we're only to go to work like of bust
les in Pearl street, and discuss fairly all the import
Int public measures before them, they could finish
Ill that is necessary to be done in moatA at least
We would then be glad to report all able debates
ength-and the community would read them with
pleasure. But in their present management of
hngs, they are not only neelecting the public inte
'ess, but absolutely INJECTING stain on the charac-
Ter Of the nation.
The Washington Globe" it is true, ascrbes
ms shocking waste of time, money, and reputation
% the whlgs' and, sooth to The wings are most to
blame The personal quarrels among the wings,
about abolition banks and maxim, p.as:d.... 80 |