Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1846-07-24
From the New York Journal Of Commerce.
THE PROSPECT. -.

We are glad to see it stated by Mr.. Web
ster. and Mr.. Evans that opposition TO the tar
/, if bill is hopeless. and thatsihey will propose
no amendments 10 ii. These declarations ac-
cord with our own impressions, that the bill is
to pass as 1t IS, and so it is not again to 90 10
the House. We are glad OF this, because, uu-
der all the circumstances, it is most excel
lent bill. True, il might in some respects be
made better in our Judgment. But its defects
are all of minor importance, while the bill, as
a whole, will be productive Of immence bene.
fits. There is no hope that it could be amen
ded without being lost. In our .opinion that
plain common sense man at the head of the
Committee of Ways and Means has, done tho
country great service by his labors in prepar-
! ing this bill, and has manifested great sagac;-
ty in bringing it through the House. without
losing any of its important features.
We are glad of tile prospect, because the
rush of capital into manufacturing pursuits
threatens rninous revulsion a few years
hence, which this bill will do much to pre-
vent; and because, having accumulated such
large profits during the past three years. the
manufacturers are strong, and able to bear a
reduction of profits, and to pursue their BUSH
| ness upon plan Of more thorough economy.
Weare glad of it, because it secures ample
protection to the interests which have been
most highly protected for several years to
come; and so, like Mr.. Ciay's compromise
act, lets down the system gently. This bill
is much less protective than that which MIR.
Mckay proposed two years ago, and is much
more protective than the bill which he aciH
propose and carry two years hence, If this
should be rejected. We regard the universal
| triumph of free trade as certain, and it would
be undesirable to pass from one extreme to
the other without hesitating midway.
We are glad once more, because the gener-
al position of business is right for the change.
| W DOL, flour, and provisions, are at their prop
er tariff and home market prices. We have
seen what that policy does for the farmers,
and no adventitious circumstance is likely to
make the prices lower, and give the protec-
toniss ground to charge reduction on the
tariff. The general condition Of all business.
except that which is protected, is dull, and
dizziness is the sure precursor Of activity. The
foreign exchanges are in our favor, and money
must be plenty for some time after the revival.
The tariff men, instead of seeing the banks
break in eighteen months, will see the lar
gest prosperity then that was ever witnessed
in our country. We shall not pretend that
this prosperity is all the consequence of the
new tariff bill, but we shall be- glad that the
new policy should have a fair trial in fair
time, and become established before the wa
tiers of stagnant business shall set all the
frogs to croaking.
We are rejoiced to see our country come
into the great principles of the worlds pro-
gress, and especially at this most fit and hap
py time. We take it that the mission of the
regiments who have gone to Washington with
their imaginary troubles, will effect nothing,
as it ought. No such overawing demonstra-
tons ever ought to be regarded; and now so
great is the wealth hanging around Congress,
that no senator can change his opinion With
out exciting the most undesirable injury. The
manufacturers, even the iron manufacturers,
will, in their sober thoughts, two years hence,
rejoice that this bill passed.