The daily union. [volume] (Washington [D.C.]) 1845-1857, 1846-08-20
RUIN!-PANIC!

RUIN!-PANIC!
We hear very lille lately of the thunders Of Mr..
Webster and his friends Is he bouh,g up his
thunder for the first day Of the session. when he
threatened to bring the ominous measure of repeal"
TO bear down upon usl Are we to have the Leyden
jar fully charged and discharged at once on the first
day Of the next session upon the fated heads Of the
anti tariff senators' Certain il is, hear little
yet Of the threatened repeal" from the wing press
es. We hear but very lttle Of the muttering panic
and as yet we hear but little Of the ruin" which
was to burst upon the country-of factories closed
up-of operatives diseharged-of their families re-
dueed to beggsry. II we may even believe the
"New York Tribune" whose new tune is noticed
in the following article from the New York News
we to hear Of but little more of panic and Of r-
In and the Tribune" seems to be utterly surprised
that we should have ever dreamt Of such plot be-
ing acted. Now, all this is sufficiently amusing.
Are we all to be las calm as a summers morning"
until the curtain draws up in the Senate chamber on
the first Monday of December And is the mana
ger (Mr Webster) in his laboratory preparing his
machinery for the tremendous exhibition:
We are happy in the mean time to announce that
not only the wings and the protectionsts COM
paratvely quiet for the present. but that the demo-
cratic presses fearessly doing their duty. Each
editor is at his post, standing to his gum and pre-
pared to blow away the first argument which may
be brought against them, and to dsspale every pan
c movement which may be attempted. 1t is de-
ghtful, too, 10 hear that far, the factories have
not suffered, as they apprehended from the new
law and that 1t Is not quite so great "gorgon and
chimera dire" they expected. Our late accounts,
too from across the water continue to be suspicious
to the Of free trade. The decided success OF
the sugar cause in the House of Commons is snoth-
indication Of the free-trade spirit of the age. The
prospects Of the passage Of our own revenue bill
were giving a new impulses to the hopes of a more
enlarged commercial intercourse with the United
States. And in France, the report was current that
the government intends to reduce or abolish the
duty on the importation Of sheet iron from the Uni
ted States. This movement, if 1t b, effected-and
trust administrator will spare no r,ean-
to assist its operation-will somewhat relieve our
iron masters from the fears (too great) which they
have already INDUCED.
From the New York Morning News, August 10.
SHIFTING GROUND.
The Tribune (Which seems TO be the especial or
gan of the manufacturers hereabouts) is journal
of Inconsistencies. When the new tariff bill passed
both houses of Congress, ruin! ruin! the
cry raised long and loud by our Jealous contempt
rary. Nothing than that widespread
prostraton of capital and labor would result ulti-
mately, endangerIng even the solvency of the gen.
eral government. A few isolated changes in the de-
tails of some of the larger establishments, such as
ordinarily take place constantly without remark,
were seized upon with noisy avdity conclusive
proofs Of these melancholy forebodngs; and of the
manufacturing interests so much at heart with the
panic makers, it inferred such evidence that
their destruction was near and inevitable
What success attended these notable attempts to
alarm the country into a CONFUSION Of some kind,
readers know The failed utterly-and sim
ply because the real prosperity in too vigorous
and secure health to be affected by any such artif
cia influences
Accordingly the tone is changed. The Tribune
Of the other day, in article which is a striking
sample Of the kind of writing will achieve
who endeavors to blow hot and cold with the same
breath-to reconcile stubborn facts with his contra
ry purposes-taks in the new strain:
"The journals in the Polk Walker and Mckay
interest are evidently chagrned and disappointed at
the calm manliness with which their great fnan-
cial achievement has been received by the mass Of
those most Immediately affected by ii. They look
ed for panic-a revulsion-a tornado-a general
shutting up Of factories blowing out of furnaces
discharging of workmen, &c, which would have
enabled them to revive their potent war-cry, THE
rich against the poor' and infame the passions OF
the ignorant with accounts of combination of en-
poyers to starve the laborers into humiliation and
slavery. But nothing Of the sort has taken place
In very few instances there have been momentary
displays Of peuance indignation, but the general
expression Of those concerned in the interests struck
at by the new tariff has been, This is now the law
Of the land--we are bound to submit to it till it can
he chs nd ,tf,ta 10 ba,t
We are quite sure that no one of the democratic
Journals Chose, we suppose, inteaded by the cour
teous "Polk, Walker, and Mckay" category Of our
neighbor) has felt the least DISAPPOINTMENT but the
contrary; that the high tariff men, after doing their
best TO make themselves and everybody else
miserable as possible, have thought better OF it,
wiped away their tears, smoothed out their faces
and subsidized into bearing the slight dimnuton Of
their profits inflicted by the new law with "calm
mRnliness" But we let this pass, also the cool
impudence ofthe charge that the democratic jour
nails looked for panic" &c. We overlook all
in the satisfaction with which read, such I'M
questionable authority, that there has been no panic
no revulson, no shutting up of factories, no dis
charge of work men--that "nothing Of the sort
has taken place" This is gratifying. We have
no kind of objection that manufacturers should
make money as fast they could WISH under such
proper protection as fair revenue law ought to
give; and it certainly gives sincere pleasure to
know that no attempt has been made, under pre-.
erce Of the change in the law to infringe the in
terests Of labor. This is all WE'LL but let No wing
hereafter talk Of panics, for have not it here
fessed by the great champion and oracle Of the tariff
interests, that there has been panic, with the
added intimatlOn that there ought to be none'
The moral OF this remarkable change Of tactics is
simply that the effort at panic-making failed signal
", add that the existing condition Of things is too
foreign from panlos and revusions for any power Of
Misrepresentation to pervsrt.
INDIANA.
The estate Sontinef, 81 ,h. IE,k Y.x,raN .,a,.,