The New York herald., 1844-07-18

Rotary OF ths Treasury in the pet banks These banks
can safely calculate upon possession for some time,
a. the government will be unable to find for the
smallest per cent OF the amount This revenue, fast
a. 1t eccumulates will be used by the banks for
the purpose Of promoting speculations. Millions must
annually be drawn from the pockets Of the commercial
classes by the operations Of high tariff be devoted
speculatons in stocks any bubble the government
banks get up give employment to their deposits
In the meantime the manufacturers fattening on
the times Their large dividends show that large pro-
fits are the order Of the day. The agricultural pro
ducers do not perceive that all these movements en-.
nance the value Of their products The speculatons
confined stocks and real estas the immense supply
Of four wheat &C., forbids any cornering these items
Fancy stocks inflated large loans made to brokers "a
supply the demand Tor money, great specuations pro
duce The banks 60 on expanding prices advance
til our mportations become heavy, and expora
tons 80 limited from the great dispropoon in prices
that balance Of trade against requires shipments
specie and explosion similar to that of 1897 the
This result be directly traced from the frs,
effects Of high tariff. tariff producing surplus II
matters little whether it is protective not will produce
the same results. surplus revenue is the greatest
curse that was ever inflicted upon any govern.
nent A surplus revenue was the first cause oI
hespeculaons rvuson that before spread so much
ruin throughout the country. The high tariff oi
1913, and the first year two Of the Compromise
Act, sowed the seeds thlt produced the fruit so
many reaped to their in 1897 and 1888. We
thoroughly convinced that the greatest drawback the
commercial classes have is tariff producing sur
plus revenue.
There many interests in this country that require
slight protection, which safely be extended to them
without producing surplus II tariff like the
present is actually demanded; the prosperity Of the
country depends entirely upon protective tariff then il
would be better that the Government should expend
dollar Of the at once rather than allow
muate in the vaults Of banks who have further use
han to excite speculaons and fictitious values
In general bankruptcy and ruin protective tariff like
that now in existence 10 not required. Many manufac
lures highly protected by that act are too well establish
ed to need longer support from government Instead
Of general protection merely want incidental proec
tion and tariff founded upon that alone would not pro-
duce surplus revenue The principal argument used
by party papers, in speaking Of the tariff is the influence
prices The wings assert that it reduces prices and
their opponents argue that il raises hem-nothng,
cordng to their theories, has effect prices bat the
tariff They leave the currency sde-that is
ly secondary consideration and bsgatele compared
with the tariff The annexed table will show what in
huences prices
IMroRTs BANK LOANS. pRIcE OF Flour IN THE PoRr
OF NEW YORK. WITH THE PhIcE OF CoTroN LIvEK
POOL, AND THE AVERAGE TARIFF ON our lmr"sTs