The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-08-14
S39,l22,4l0 so


On the first of August the amount of Treasury
notes outstanding, was $14,274,239 81, showing
an increase of 1856. $50, since the first of July
Tois would make the debt on the LIST inst, about
forty millions of dollars in round numbers
lhe expenditures of the government, for the
quarter ending August l, were $22,475,505 IS,
and the receipts from the usual sources of re-
venue but SO, l32, $50, leaving the balance to be
supplied by loans of sl4,343,35 This rate OF
expenditure will soon run up an immense debt,
but the prevailing impression is that the expenses
of the war will hencefOrth be comparatively IL
mted, from the fact that new system Will be
adopted, relative to receipts and expenditures,
as soon as we have complete possession OF the
whole of the Mexican territory.
The financial condition of the country gene
rally, is exceedingly healthy. We see nothing
calculated to derange the currency, or to endan-
ger the prosperity that exists In every branch OF
industry. We have, for some time past, realized
an active demand and high prices for our princi-
pal staple productions, and we are rich; we are
in position to become large consumers of Euro
pean manufactures, as we can pay for them; we
are in favor of reciprocity in trade; and if Europe
buys the raw material for food and raiment of
us, we take their manufactures in return.
| Our banking institutions have been, for some
| time past, cautiously conducted, and credits are
established upon sound and solid basis. We
have a currency nearly equal to the most vaua-
| BILE in Europe, and comes as near specie STAN
dard as possible to bring it under our banking
systems The crops harvested and about being
harvested, will yield immensely, and, if neces-
sary, demand double that so far experienced,
can be easily satisfied. We can furnish the raw
materials for feeding and clothing the whole OF
Europe, with only twelve months notice, and
carry on a war with Mexico, and half dozen
other powers of equal calibre, at the same time
The fact is, we do not know what we can moi
do. We do not know our own strength or re-
sources, until they are put forth and developers
and then the world is astonished, and few
petty, pitiful demagogues confounded.
If the growth and progress of this country ls
calculated to create in the minds of British
statesmen, feelings such as those exhibited by
Palmerston and others in Parliament, they have
a very unpleasant prospect before them, and we
pity them in sincerity and in truth. We have
heretofore pursued a course in our relations
with Great Britain, more conciliatory than we
shall henceforth. We shall slightly change the
maxim, and do towards that country as they do
unto this, or, in other words, in all our inter-
course we shall pay them off in their own coin.
This country is thoroughly independent OF
Great Britain, that it matters very little whether
she likes our institutions government, our com.
merc, or financial systems, or not. Whether
she understands or acknowledges our State SOY.
eregnty, or not-she must content herself with
growing and grumbling, and making the best Of
them as they are, for all the power and philan-
throphy of England cahnot change jot OF
title