New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1846-05-07

Hut how remedy 1t IL the point upon which differ
and IL 10 on that and such other qupstons that
pouncs one another 10 the world pickpockets
thieves liars per1urefs cneatS &c &C. IKE gooo CHRIS
tians We all are
Ibsvs said wa sec where the shoe pinches Does 1,
no nriseas natu suggestion OF tse mind that II should
be loo.eped there And 10 THE what might be called
impulse the correct and true to every test i
We often find that used 10 learned dsquston and
ready u device lose that keen and natural
which ths less tutored mind Possesses. and become
weak upon plain positions slways atm inclined 10 fol
low out and their eec;s the expediency and apt
OF these frstsght thoughts. place reliance upon
them.
In the case before us the Tariff has been tried Some
ssys the endothers deny H. Could any deny
the efficacy and appropriateness oil Restriction In the
Currency
have avoided here INDUCING in any remarks upon the
soundness stability and teadness OF such currency
1hsve view leaving those TO suggest themselves to the
mind of each. g.
Remarks on the above
Our correspondents radical error turks in his
quiet assumption that by doubling The value Of the
dolar-,hat is diminishing by half the value of
currency in the country-Te should reduce equally
and by just onehalf the money palue of erery
thing but money. The actual result would be very
different from this. Such process would double
generally the real amount Of all money debts and
mortgages where the mor,gaged premises afforded
adequate security but would diminish very
equally the value of products, some of them not at
oil. In our own business, for example, we do know
by ample and varied experience that we can az
ford and the public can obtain Books and Newspa.
pers cheaper when the Currency is expanded than
when lie restricted. One is that the capital
requisite TO carry publishing or any other branch
OF business Is much more easily obtained in the
former case than in the latter and there is conse-
quently more active competition in supplying the
public wants. Another il that with re-
strio,cd Currency the number of purchasers is great
ly diminished and the actual cost of each copy re-
quired by the public demand is proportionally in
creased. For example: Suppose we could barely
afford to print 1000 copies Of Weekly newspaper
of given size and quality at q certain price: we
could afford at half that price or twice good pa
per for the whole price, If the regular demand were
swelled to 20 900 copies; and terms still more IA
vorabe to the purchaser if the sale swelled
$4,000 or looo 900. We are generally doing bes, in
our buainess when we give patrons the most for
their money aud this has never yet been nj season
Of comparatively restricted Currency.
Now what is true of our business ia measurably
true of every other branch Of Manufacture, and pre-
eminen,ly 80 OF many among them. Let cup
pose for. example that the demand for Printed Cot
per annum. and that of this the American produc
have steady. reliable call for nine tenlhs or co.
100000 yards. The Government says: True, we
shall bother You liue by cutting down the Tariff
on Cacoes 10 a trife and passing the most sweep
Ing warehousing bill ever heard of; but then we
will make 1t up to you by putting on the Sub Treas
ury and thus greatly diminishing the value of the
Currency Well; how Is this to benefit the Cali
Prin,ers' Plsialy, by reducing the value of Cot
ton and of Labor in this country If it fails 10 dc
this, it does nothing for them But this process Of
Currency restriction deranses the trade of The coun
Try. bankrupts all who owe debts equal TO bali the
previous value of their properly, and diuinshes the
ability to buy goods on the part of the Laboring
Masses- Food Of come sort ,hay nusa have though
destitute Of work or employed at reduced wages
but instead of buying new clothes they compel
led to wear old ones. Consequently the annual do
rsnd for Cacoes falls from One Hundred TO FIT,
Millions Of yards, and of this diminished aggregate
three. ths thrown in from abroad under the low
duties. hoping TO fnd or force market. Now the
cost OF Cotton and Labor may both be somewhat re-
doeed, and yet the immense falling off of the de-
mand. reducing the consumption of American Cali
Goes from Ninety to Thirty Millions of Yards pei
il reaches the consumer something more than W her
every bale could be sold for cash soon as finished
and new pattern might be printed off inde6nitel,
without fear of Cutting the market. This genera
law OF increase ia COS. Commensurate se;th the 6i
Siaa,soa Of demand governs Manufacturers gene
rally, though not at all applicable the products
Asricutars, wherein double or quadruple quantity
requires corresponding increase Of Labor TO pro
duee ii, and an Increased demand pretty certainly
causes sn increase Of price. (Whoever cares &c
consider moro generally tho effect Of Currency re
s,riction the prices of Labor and Products is re-
ferred to the Speeches Of Messrs. Buchanan of Pa
and Davis of Mass, on the SuS-Trcasury, u. s. Sc
nate. ls4ol
If our correspondent duly considers the fac, ,ha
Great Britain, with az expanded Paper Currency, i
enabled to undersell generally the rival fabrics O
France. Germany and other comparatively Hare
Money countries In the open markets OF the world
we think he will have less confidence In his theory
which seesna to him palpably, undeniahly true
There are thousand facts OF like bearing, but WE
cannot here make room for them
We think We have sufficiently shown the error II
the premises OF s. though we cannot taxa room &c
discuss the subject thoroughly, We do not doub,
tina: our Currency may be. has been, a, times too
much expanded as well as eli olhcss ,o, re.rric,sa
there is q proper medium in all things We think
however, that the error in this Country has generally
been on the side of restriction.
We do not think we have ever used the epithe,,
which s. quotes to condemn in discussing shis Sub
Treasury question We do indeed believe the Fl
nanclsl Treasury measure Of the party In power
very bad one. and certain to work great mischief t
The Industry and Prosperity of our People. Bu: VI