The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1844-03-07

one decided step towards providing for the past futurs
interest on the debt of the State Several resolutions
have been introduced and referred to committees relating
to the sale Of the States the public works Pro-
posas have been made make stock companies of
canals and railroads. and appropriate the proceeds to the
reduction Of the debt Many other movements have been
suggested but nothing has yet been accomplished, and
the present prospect very Encouraging for those hold
ing the stock Of the State When the Legislature first
took hold of the subject had great confidence in the
spr. manifested and felt assured that before adjourn
ment plan would be adopted permanently providing
for the prompt payment Of the interest due and accruing
From the present indications, cannot resist the con-
viction that the Legislature of Pennsy will adjourn
without passing the first act increasing taxation, a
proprating funds for the relief Of their creditors.
Amidst all the uncertainty that hangs about the
msnts Of political PARTIES and the schemes Of political
all the disputes the uras of both
parties to the effect Of the tarifamidst all the lsgisa
ton that going on in every section Of the country the
better regulation Of commercial affairs the people are
working out their own prosperity gradually but steadily
Commerce is reviyng without the aid of Legislation. Ac-
tivy exists in every Of trade without any exclu
sive privileges from Congress The tariff asyet remains
without alteration and foreign trade increases There
existno disposition to charter banks with capt.
tas and currency remains solid safe foundation.
The present state Of things very encouraging There
is not single link in the chain weak OF unsafe To keep
business to the existing mark only require regular
ity Of bank movements The paper issues founded
good basis. The slightest derangem in the crculs.
ting medium and the whole fabric will explode specu
lation and ruin follow in it's footsteps The first
the present prosperous PERIOD the great contraction
bank loans sand issues and the second is the improved
condition Of all the countries connected with this in
mercial matters As far fetched may be considered
convinced that the termination Of the war between
Great Britain and China created the first germ Of the
creased trade that has existed from that time The
ing the markets of that region like the creation
new world. 1t gave other nations people to supply,
that outnumbcred them tenold gave impetus to the
industry Of manufacturing nations stronger than the most
sangune anticipated 1t has created activity Of
commercial movements that win increase the wants
that people become developed astonishing extent
will do to build the manufacturing interest
of this country, than all the protection forty tariff acta
could give The opening Of the China markets of the
most important events that has taken place. has
opened Of wealth that little dreamt Of
the philosophy Of the eneprisng people of this
try To enableu to take every advantage THE opening
China trade we must keep currency at home sound
and pure. We have nation to compete with, whose
rency far exceeds in real value. We must place
ourselves par with Great Britain in all things that
regulate trade and the result is plainly to be An
inflated currency would for short period give the
vantage ground but the revulson would throw far
behind our competitors and which could reco
var.