The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1843-10-09

with Barring Brothers. relative to the State bonds issued
to the Bank for 81 600, and falling due in November
1874 The condition of the Bank is such, that the pay
ment Of the February interest is very doubtful
The Bank of England late meeting of the propre.
tors ensbed to declare semi annual dividend of 81
per cent only, by taking f767 of the amount from the
surplus To mako up the lest semiannual dividend,
f5,s64 taken from the surplus fund, making f3Os
divided for the year beyond the profits of the institution
This IL an indication of the state Of affairs in Lon
don as here.
The following is the public debt of the city of Nash
vile, Tennessee -
gapr OF The City NASHVILLE TENN SEPT 80 ls4s.
iorenhsylvona Ins. Co, due 1856 $4,000
Ohdon Bank OF Tenn, le55-60-65. .......... $4,000
- - Stacker, for pipe, 1912 3-i-5.. 4s53
O"''aA"i"s "@o"uh's. ............. 5,072
Total. ....".. ................... $li29a5
Inc condition OF the country now is such to alarm
those architects Of ruin, who time when the cur
rency OF the country had lost its expansive power and
had reached The stable foundation Of specie passed tariff
for party and sectional purposes which has DESTROYED
commerce This startling fact is evident from the i'm
ports into the whole United States for the year ending
September 80, ls4s They amount only $50 600 !.
a smaller amount than any year during the present century
Ufth the exception of the t0o years of oar 1918 and 1914
They less than under Jeferson's embargo notwth
standing that the population wealth and OF the
United States have increased prodigously This fact
when it considered that twothrds OF the commerce of
the Union centres here What will become of our navy
our marne and national character if this worse
than Chinese policy is persisted in How frequently do
the advocates Of commercial run appeal to the old
strctive policy of England, the Of her great
At what period of the world the English pro-
lection confined to branch Of her industry the ex
pense of all the rest The first of her government
has been to foster her shipping INTEREST," that
q nork .
which she has nearly abandoned although while Europe
continually at war; and the United States were her
colonies she became great in spite of her restrictions
At this age of the world when all the nations of the
earth have into the field of in compet-
on the greatest depends upon the greatest
Skill industry, and economy the United States have
voluntarily their commerce, in order to
benefit class of manufacturers who hewhoe popu-
ation, to to 90 In the midst of commercial
community surrounded by $4,000 persons, whose
has been lessened year. the Courier
calling itself commercial paper stated as follows on
Saturday
What in this is most gratifying to the patriot, is the
fact tn the evils which the Free Trade Party predicted
would follow have not resulted from the adoption of that
wise measure; the contrary all the good has been
complshed that anticipated by the most sanguine adj
vocate OF the protective policy; if ercep only the
shipping interests, which although suffering gradually
adapting itself tothe new state of things.
This is consong, Indeed. The shipping interests of
great naon-the nursery Of navy, the efficiency
of which alone the political inAscnce of the Union de-
pends is doing the best it under hostile egslaon
Yet we'are told that call the good has been accomplished
that anticipated from the tariff"
The customs receipts for the year for the whole Union
short of 900 OoO while the ordinary expenses
have been $23 90O The necessary result has been
large debt and deficit of S. 900 in the of the
Treasury between and the LIST of January This
perous condition Of the Federal Treasury is the in
evitable result Of the embargo commerce. is, which
alarms those who have brought about To supply the
deficit there exists authority to issue Treasury notes
bearing interest exceeding per cent. The pro-
jected of the Secretary in issuing these notes
at nominal interest and making them payable d.
and evil which has necessarily grown out Of the
present tariff. The Government deprived of its
venues by the tariff and allowed to issue Treasury
bearing interest. The tariff, by running commerce.
destroys cd the demand for money. The Government is
obliged TO borrow and the Secretary takes advantage Of
the market to do the best terms he cam this is
borrow the money not of the banks but Of the people
at large If the bearing high rate of interest
issued the banks the banks will issue their paper
ney the people. The operation will then be for the
Government pay the banks 100000 per annum, and
the people will hold as a circulating medium S. 600
of bank paper money By the proposed project the PEG
pie hold the Government paper directly without expense
to the Treasury II the banks took the notes they
might issue any quantity OF their own bills they Please
The Government cannot issue than $1,000 O0O.-
Thus the worst feature of paper money unlimited issue,
is removed The Richmond Enquirer is in in sup
posing that we advocate government paper money a
general thing, any more than we advocate public debt
But the debt been created not by the Executive but
by the infamous tariff, which has crushed commerce,
ruined the of thousands and deprived the Go;
vernment of One object of the tariff party isto
national debt which has already swollen to S25,
600 OOe at annual expense of ST. 900 Now advo
cate the movement OF the Treasury the ground that il
sthe and cheapest mode in which debt created by
party inquity can contracted, andto exist only until
the people remedied the matter When the public
debt bears interest it ejrds plumber to the stock
jobber
On Friday we published the imports of free articles
into the United States for the years is42-ls43 We
annex imports of articles paying duties ad valorem
as follows
IMPORTS INTO UUIrEp STATES, PAYING DUTIES Ap'
vALoREM, IN 1871 AND 1912.
1871. 1912.
Quantb. Talue, Qudnty Value.