The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1844-02-19


part Of the world The consumption Of rice and tobacco
Is daily increasing and few years will suffice to place
all these staple productions level with those of Eu
rope in their own markets. We find new markets al.
most DAILY opening for exports. We daily be-
coming more able to compete with other nations in
Re's they have heretofore completely monopose and in
good time we shall become the monopolisers.
Inc result OF all these movements, will soon be made
visible. The operations in cotton will
the whole stock has gone forward The operations in
real estate will cease prices reach too high
point specuations in stocks will never cease for there
are always regulators enough to carry that business
On the state Of the cotton market depends nearly every
other commercial interest On the value and price of this
staple depends in great degree prosperity The de-
mand for this raw material. from Great Britain and
France will be unusually large this year. in consequence
OF the favorable position Of their internal affairs and the
outward demand for their manufactures TO supply the
wants OF the immense population Of China and the
rounding countries The heavy import of specie into this
country for sl3 was caused principally by the improve
ment that has taken place in our cotton trade The
amount of gold and silver received from foreign countries
within the past eighteen months does vary much from
o0o nearly the whole OF which has passed into
circulation and the sound banks improving and purifying
our circulating medium.
This prosperous condition of trade commerce has
grown out of the regular laws of trade The evils that
we labored under 80 long, have corrected themselves.
All the legislation under the could have pro-
duced the happy state Of things that exist It is fact and
not theory that has worked out the result The wise
Senator's at Washington might have discussed tariff act
till doomsday, without creating jot title of the
good the perseverance, energy, and industry of the
people have. All the commercial classes want is to be
left to themselves they wish to be let alone We have
been cursed with too much legislation have been
feted with acts regulating trade and commerce. which
have invariably made confusion and trouble.
We have in this country too great classes concerned
commercial movements each pursuing opposite courses,
and arriving at opposite results. In the first place. we
have those who the button of bankruptcy whose
business is exclusively confined to speculations in
fancy stocks real estate, nsolvent stocks and in
every other bubble that can be carried without CAPT.
ta or any thing else, WIN in the field in 1886 and
81 engaged in the movements and whose operations
surely lead to ruin without producing single cent
additional value oIanything; in fact perfect moths in the
commercial community in which they reside Can sales
of stocks from day to day create valuel Do the sales
Of North American Trust and banking shares the
boards Of brokers day make that stock any better
or Of any valued Nearly half Of the stocks ope
rated in in Wall street daily better than the stock
above named and yet they will advance and decline from
day to day several per cent In the second place. we
have another Glass; composed of far different materials
OIL materials that form the foundation OF legitimate trade
They distinct from those wearing the button of bank
ruptcy. They do business their capital, which
is sufficient under the present administration of the laws
Of trade They do not depend upon the caprice within
OF bank directors They not led astr by the false
lights held out by banking institution but pursue a
course dictated by their own Judgment and foresight
These the elements that will produce permanency of
prosperity. The sound legitimate merchant is the sup
port OF his government Its resources derived from
the movements Of commerce and the developments of
wealth they create They the bone and snew of the
body polite and the salvation of the country.
The conclusion, every intelligent mind must arrive at
in wing the actions Of Congress- the entire insult
fciency Of Legislation to influence the movements Of
commerce. The tariff question has been argued more
than any other, and after ALL what control has il over
trader We admit certain power but trifng compared
with that claimed by its advocates Uras of both par.
ties are just alike and without exception they as
great set Of blockheads God created However,
in spite of all their efforts to the contrary many Of them
will live to see this country advance and rapidly become
prosperous and happy.