The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1846-07-23

have commenced the manufacturing business with
hardly capital enough to keep their heads above water
six months without some very favorable operation or
some luck 1t is called, upon which they have in
measure depended.
The slightest change in the commercial policy of the
government unexpected loss by bad debts is sure to
cramp these concerns and embarrass them very much
In their movements or cause failure out and out In
the event Of these things happening Immediately after
reduction in the tariff the opposition make az much
political capital out Of 1t possible attrbung the re-
suit entirely to the change in the commercial policy Of
the government If we could get on insight into the
nnanc'a affairs OF many Of our largest manufacturing
establishments which apparently in the highest state
Oh prosperity We should find that their losses from bad
deot were very large per cent and tended to endanger
their existence more than any mplaed change in
the tariff.
The manufacturers Of the North have suffered most
severely by the heavy indebtedness and frequent bank
rup'cy OF the South The South have in times Of CON-
mercial revulsons been debtors the manufacturers
OF the North millions upon millions not the first fraction
ofwhich has ever been, will be quidated What
has not been wiped cut by the bankrupt law has been
pretty eectually used up in other way The posi-
ton of the North and South relation to the commercial
policy OF the country has not heretofore been properly
understood or properly defined.
In every commercial rcvulson which has passed
through this country the North have been sufferers
millions when the South have lost nothing The prnci
pal staples of the South sold for cash. while every
thing purchased for that section purchased on long
credits The merchants and manufacturers of the North
credit the INGREDIENTS and planters of the South to an i'm
mense amount; and any changes in the commercial or
financial systems of the country however unfavorabe
fall entirely upon the North and the extensive the
revulson the injurious the North and beneficial
<n Tho Qoutb A. ard
is true that the South have rather been benefited
than otherwise the commercial rsvusions experienced
within the past twenty years. Being debtors i'm
m.nse amount and if creditors at ALL comparatively for
rife, they have had every thing to gain and nothing
to lose. If they have paid nothing comparatively they
have had, in many instances nothing to pay with but
they have had value received for their indebtedness
which has in some way been disposed Of
There is not manufacturing establishment of the
North of any age extent but that has in
the South which they will realize on and
many manufacturers Of the North have been made bank
rups by the bankruptcy of the South. While the North
crn manufacturers have been such serious sufferers by
the South, and notwithstanding such immense and FREE
quen losses have continued furnish section in eve
ry way with their fabrics the most favorable terms
the greatest ppostion to any incidental
domestic manufactures has come from the very peo-
pie who have been so much benefited by them. It
would appear but just and proper all reasonable be-
ings that the political influence Of the South should be
exerted to sustain those who have frequently been
almost bankrupted by their general insolvency but on
the contrary we find them advocating system exclu.
sively for their individual benefit and that Is for the
increase of foreign markets for their own staple pro-
ducts.
The manufacturers of the North sustain them selves
under any tariff which will give sufficient for
the support of government provided they only manuac-
tue what they command cash market for II would
be much profitable let the southern markets be
supplied from some other source than supply for
nothing, as our manufacturers have in many instances
DONE 1t would be better to do smaller business and
get pay for that than to do extensive business give
long credits, and lose two-thirds of it by bad debts
These remarks have been prompted by the exhibition
Of opposition to the existing commercial policy of the
country from the southern delegation of such deter.
mined and incorporating character as destroy any
hope Of its preservation Every at all acquainted
with the history of domestic trade within the past
twenty years. cannot but admit the truth of the state
ments here made We have not gone extensively in
to the merits of the circumstances might
but we trust sufficiently to place the matter in
proper light The North have been accused of selfish.
ness Of egislatng exclusively for its local
and of wishing to sacrifice every other section to its ad
but the facts do not sustain this
North and East than has been given in return and if
there was local legislation in Congress- any
ference given for sectional advantages tho South have
had all the benefit of it. We would like to see more
unanmity of feeling in regard to the commercial system
of the country. Our interests identical they are too
intimately blended to suffer from any sectional preu.
dice.
Old Stock Exchange.
81: ''is E;"s;
$500 do ~
Second Board.
5000 Penna - Gods 6sk 100 shs Msrchants Bk Io6s
5000 Nd wo, GSs 90 g g Morn. Csasi rs rs
50 90 50 50 DO so .i4
so do bio 5sk $50 do $50 SCI
lG0 do $50 So
New stock Exchange.
'h' f Dr. IT, Tn,S g 'h' NS1 wor cash ~
80 do Harlem RR, $50 SIX 100 do BE- So
50 do $40 3oH Q, do b3 SIX
80 do $50 50X
Married.
Al