The New York herald., 1845-12-05


:;ss' s;ssssf; ;;Ss i;;is ;sSS 5ss snsss sss
Net ssn ei previously since jan j. is.s, ls''' sils
Total gain from Jan. Nov. %, lsi5. $55,4T
There were about weeks from the date of tho last
returns the close of the fiscal year. the increase in
which will, without doubt swell the aggregate increase
for the year about sixty thousand dollars about
eight per cent, receipts last The contsmpa-
ted magamation Of the Western and Worcester road
will be very advantageous to cach and good dividend
the whole capital Of the two companies will be guar
anteed The increase in the capital of the Western Com
pany will be obstacle to the payment Of dividends az
large hitherto realized.
There are routes between this city and Albany
during the winter season, both by steamboat and rail-
road-one via the Housatonic road and the other via
New Haven, Hartford and Springfield. Travellers be.
tween this city and Albany and the transportation of
freight between the two cities, during the close Of
river navigation, attracted to these routes as
tie cheapest and most expeditions means of com
munication with tho interior. Even these routes
much they preferable to the old stage
routes, a roundabout way OF getting to Albany,
and, witha very expensive 1t is strange that efforts
not made at once to complete the New York and
Albany railroad II is already completed to White
Plains 26 miles, under contract 26 miles more; making
distance Of 81 miles 80 miles more Qhrough Duchess
making ALL distance Of 81 miles of the $50 between
Albany and New York. This distance will, without
doubt be completed by another winter, leaving only
about sixty Eight miles complete TO connect the two
cities without connecting with the Western ana only
forty five connect with that ro2d at West Stockordgs
The whole of this road could before the LIST Of
January lsi7 and not but he enerprisins
president and directors Of this company wiu accom-
plish desirable and important object 1t TIME 10
49, ~:u;n 81 anftta II al
no longer the New York and Harlem Railroad ompany,
but the New York and Albany Railroad Company. ItS
charter gives this and as such it should be
known The disadvantages and difficulties that will be
experienced this winter consequence Of the absence
of cheap and rapid unicaon with the interior
WILL trust, the people of this city to action
upon this subject that will result in rapid construction
OF this road.
The financial policy of the government and the modr
fcaons, alter and reductions in the tariff must 20
hand in hand. They most intimately connected, and
must 60 together through the various FORMS to act
the commercial affairs OF the country in proper, judi.
cious and permanent They should 60 together,
for hepurpose of neuralizng the restrictions of each
The currency and the tariff are and the thing,
far regulating foreign trade concerned The
operations of the tariff controlled entirely by the
condition Of the currency and whatever protective fap
ture any tariff act may possess is annulled by
expansion Of the currency and deprecated value Of tho
circulating medium. The manufacturers Of Europe
deeply interested in the state Of currency and every
bank expansion, of moderate extent Of much
value, for the me to the manufacturers of Great Britain
as any reduction in our tariff The importation
their fabrics into ports depends, we might
say, almost entirely upon the volume and value
of our currency; as prices are regulated
by that than by the per duty the tariff may enforce
The restrictions that placed upon the impoa.
tion of foreign manufactures through the operations Of
the tariff should be transferred to the currency and
have protection to every industry much greater than
the highest tariff would give. reduced and valuable
currency would not only close ports against the
mense quantities of foreign manufactures food
our markets. butt would enable export large
ly than have yet We should be able to export
greater variety of articles than ever before end to mar
kes that have hitherto been closed
otthe immense difference in the value of the currency
and the high cost Of production in this country. Are
duced tariff would reconcile the various sectional inte
rests and do away with the continual agitation of tho
subject and ways and be devised reduce
our average per cent duty, to produce sufficient
venue, without withdrawing any of that protection
from the manufactures the heretofore
extended to that interest, this proper time to do
The protecvs features Of the tariff for many years past
have been the cause ofmany difficulties between the two
great parties and which must continue keep alive the
opposition SO long as they exist.
The commercial classes prostrated by genera
revulson in their affairs in 1918 and lsl9 about Ave
years after the close of the last From close Of
the war to the crisis the banks then in existence pro-
duced very great expansion in their to meet
the demands from the mercantile upon the rev
val Of business after such lengthy embargo upon
ports The revulsion among the commercial classes
sted explosion in banking system. Credits public
and private were for time ruined, but slowly recover
ed and became pretty firmly and generally established
in 1921 and a. Commercial affairs assumed very pros
porous compile xon and business became very active In
another expansion had ressed so far that in tho
latter part ofthat year, and the of 1926
revuson more extensive and general than the pre-
vious one, swept through the country prostrating all
clasaes and eHecting the ruin Of the
Inc ruin OF the manufacturers and the general depres
sion mat existed at that time in all mercantile matters,
created call for revision Of the tariff and in 1928
IN act was passed enforcing very high average rnte
OF dny The highly protective features Of the tariff Of 1923
created very strong opposition to it throughout
the south, and resulted In the notification Of South
Carolina, and the compromise of 1892 About tho
u"e tnat act came into existence, expansion o.
the currency commenced, which increased from year
year. until the revuson Of 1897 again prosrated tho
commercial classes, and produced an explosion tho
Slate banking stems From 1898 TO ls42 the duty upon
imports was very low, and tho currency completely de-
ranged In lsa2 the present tariff act passed and went
into operation in September Of that year At tho same
limo, tho State banks commenced another expansion,
which Is still steadily increasing and, unless checked
Will assuredy lead to another explosion The govern
ment has recommended the estabshmen Of the sub
treasury pan and reduction Of tho tariff to prcver
ths increase Of fluctuations in the value Of the currsnc