The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1845-12-17

will BIO necessary to get rid OF the present tariff
soon as possible. These two things 60 together;
they cannot be separated; neither can be passed
without the other
Our manufacturers appear to be very hostile to this
financial movement OF the and their opposi
ton is the result of the grosse Misunderstanding Of the
whole question They advocate the tariff because they
imagine that it protects their interests than any
thing else could, and the time they favor every
expansion Of the banks to increase the business of the
country and create demand for their fabrics and in his
way neuralize each other high tariff and restricted
currency would almost amount to prohibition; ut anex
panied currency Offsets the effects Of restrictive TIA
riff, and mportatons from foreign countries are made
freely and proitably. The Sub Treasury law would
have such effect upon the movements OF the banking
institutions in existence that the.currency would
remain q uniform value from year TO year; 1t would
protect every manufacturing interest thoroughly
and equally than they have been protected before
and it would enable US to compete more successfully
with manufacturers of Europe in the markets OF the
East and West Indies, and in South America by redu
cling the cost of manufacturing at home than have
yet been able to- therefore, the effect Of the Sub
Treasury law would be to open foreign markets TO
fabrics which is than tn most sangune friend of
the present tariff has claimed for it. Such being
the anticipated effect of that act all want Of tariff
is provide merely for the support of govern
ment.
The only way by which we can build up manufac
turing interests substantially and sodly reduce the
volume ard increase the value of currency, and
make it more valuable II an that Of the nations we
into direct competition with as manufacturers.
We annex statement showing the aggregate amount
Of circulation and specie of the Banks of Great Britain
France and the United States for the year. ls45, for the
purpose showing the relative value Of the currency OF
each, compared with specie stan lard =
SPECIE cncuLArIos OF THE BAsks OF GREAT BHI-
Banks Of Great Britain. sl13 as66a S1So3o 400
na na g. sates sssssT Il ssiiss
This shows that the currency of France is nearer
specie standard than either of the other two Our
cy stands next in value but it is rapidly depreciang and
unless checked will soon become deprecated than
any other. Our currency is at present in very sound
condition. but want farther reduced to enable
saut out foreign mportatons into this country and the
manufactures of Great Britain from the of East
and West Indies and of South America We have every
facility for manufacturing cotton goods extensively
and as cheap any other nation. We have the
'erial at very doors, with water power in abun-
dance and fuel to furnish steam to drive steam
gnes; and with the most skilful operators in every
branch OF industry, there is why should
not become the manufacturing nation in exist
We want markets; obtain them by trea-
ties and retain them by The cheapness Of manuac
lures The Zo Vereiu treaty if accepted would have
opened markets for the supply of thirty millions of
people with yarns and have deprived Great Britain
other greatest market At least twothirds of the
ton manufactures Britain annually exported
The table of yarn and thread exported
Greet Britain gives idea Of the immense trade
carried on in those articles
Corroa YARN THREAD EXPORTED FROM GREAT BRI
TAIN FROM JAN TO OCT o. lSa4 AND lsi3