New-York daily tribune., 1843-08-28
THE TRIBUNE.
[Deferred d Articles.
Money Seeking investment.

money S0ehIhS IhFSstuicuts
TSths Editor of The Tribune:
There are twenty-four millions of dollars on de-
posit in the Banks, and their aggregate capital is
twentv.three millions more, 70 which add the
amount in Brokers' hands, and otherwise hoarded
no by individuals, and you have fifty m'llions ol
dollars in the City Of Ncw-Y York alone, seeking
s,r nroftcble investment. Can it be found =
What do Stocks. Real Estate, Merchandise, each
4, ;ts tnrn afford little or nothing, or there
vonld not be this excess Of idle capital. why
,ben do NOT some of the holders OF this immense
ann tnrn their attention to the Mechanic Arts,
~ 70 Agriculture And why have not you,
Master Editor. uou who believe that Labor IS the
onlv true source of weath-why have not you
called the attention of capitalists TO tins mode oil
EMPLOYING money, whereby many an industrious
and entcrprsing man may be enabled, not only
N cain a handsome subsistence for himself, but
.lso enrich the country and return to the owner
nf the money large and, generally speaking,
safer investment (or usury) than he can acquire by
,nv ptber mode This subject has never been
Sro,ght to public notice, as it deserves to be, by
ibe Press, and vou might indite a half dozen or
,nore Of very passable leaders on this topic, not
merely with credit to yourself and your paper, but
also beneficial to the community.
rY Our correspondent is mistaken-there arc
MT Fifty Millions in New-York seeking oppor-
tnity for probably not Ten Millions.
tis idle to count the Capital of our Banks as
50 much money seeking investment-that is IN
vested already The aggregate of Deposits in
our Banks is very large, and this indicates an
excess of some Ten Millions awaiting favorable
opportunity for investment. Some OF this IS only
held here TO be invested in Produce, as soon the
Grain, Pork Sc of the interior arc ready for mark
e-much Of it is deposited in our Banks to be
drawn against by heavy operators. We heard
Yesterday of a man who had just gone West with
acerti6cate of deposit for $4,000 in his pocket.
Our correspondent has read our paper very
csrelessy not to have found i'll it many articles of
which the object was to turn the attention of men
oIenergy, capacity and means tothe cultivation of
the soil and other productive labor, as almost the
only avocation in which wise men can engage
We say in our paper, what we arc saying con-
stantly TO young men who write US inqulrlng Tor
situations in New-York in this or that capacity,
aKeep away from the cities-turn your atttcn-
ton to Farming and the useful Arts-you will be
more happy, more healthlul, more useful in these
than in crowding yourself upon the already over
gorged professions of Law or Physic-upon Trade
or Literature" We know hundreds who barely
exist in ctes who might be respected, influential
and above want or pecunary anxiety in the
country if they were content to be there and had
the means of making beginning We think,
indeed, that there must be Reform in the whole
system of Agriculture before Capital will be as
freely invested therein as it should be-but let
that pass for the present.