The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-02-06

Financial Prospects of the United States.
The period has arrived, when the financial ope.
raons of this city should assume stand Of pre- emnence
the highest respect and confidence 1t cannot be mat
ter ofdispue that form the great centre of foreign
lodged emporium of American commerce, and
thus constituting the radating point Of intelligence
we must: necessarily produce in the ratio Of the intsg
leterious influence Our system Of ransactiDg business
ought to be enlightened 1t should be based the most
liberal principles and must be free and independent of
mercantile gambling. There is responsibility in our
Union has made the fruitful channel and mighty de-
pot to cherish and promote not to impair and reta the
sponsibiy and this the foreshado greatness Of
position to support and preserve which we have task
to perform, an intelligence to exhibit and reputation to
Their either all these requisites be in our
conduct and oar career, we apprehend that public OPT
Mon would grant most reluctant assent There is
not apparent in community any established criterion
Of public sentiment possess reliable standard to
regulate financial movements act, on most &C.
cssions through mere impulse, uniting, ipcontnenty
and nconsisteny in baneu spirit of speculation con-
reversed the Centrifugal power ruin
and dismay. We are constantly wandering without a
polar star ignorant Of our way making mproydea ana
perity and then like the Inflated Phe!on aspiring to
drive the chariot of the sum- We fall sacrifice to our
In what single measure of importance do we find a
centrate policy? Where do we see the full develop.
energies!
do appear as one people 7 Is there any common
cause, any embodiment OF a unity of sentiment Are
not always warning against general issue drawing
with tiger strife to counteract each others efforts In
our political views, maintain consistency, are
for and against every system by turns. Sometimes
are high protectonsts at others We change, like our
fashions without reason to the lowest standard Of free
trade doctrines. If our mercantile community be sue
cessu they forthwith forget all the infections of bad
governme n and ,houghtless of the future make no pre-
cauonary provision to guard against the embarrassing
chances OF misfortune; their prosperity comes as charm
tinlnt JOn AL the
cuations OF wise calculations and when troubles anl
difficulties overtnke them having enlightened princi
pies to rest there is recuperssve power to stem
the tide Of our disaster.
The sound and enlightened mind neglects not the les
iects Of deliberate considerations contemplating them
safe bescons to guide the course OF the future they
become safegu rds against the alluremsnts of giddy
prosperity, but those who move by impulse alone,
forgctul Of the shoals and qucksands on which they
may have before stranded, lose their discretion their
dence and dsdanng seek advice they stake their every
hope on the Undated bubbles of their creation,
country be calmly contemplated would be found in.
tenssy buoy ant presenting expectations, stretched to
the utmost limits and BY thus incspGusiy raising the
treme economy to the foreign consumers Of our goods
and thus reduce the consumption We shall star and
In what are the spoculations now going on, justified
IL we are accommodating wealth from our foreign com
on by the war with Mexico We are exhausns with
ono hand what laborious industry produces with the
other and yet incredible as i may be- we contemplate
of victory coaks with false lustre every extrava
gance but when the time Of settlement shall arrive, and
we opportunity to investigate the account those
who are songune in their estimate Of our pecuniary
rty will find they have very far ovorrun their
military force in foreign land, but are losing o
agricuur raj purposes, the productive services oil the
| power thus employed
of trade in favor Of the United States but the amount
will fall very much below WHAT gene rally estimeted
II we allow twenty millions the result of the enhanc
ed prices of our provisions should then only make
good the deficiency occasoned by the short crop OF cot
ton; but as there has been very advance
may leave the twenty millions still good II must how
ever, DO borne il mind at our exports OF cotton will
sxceed twothrds OF the shipments OF the last sea
SON and should there be twelve hundred thousand, in
stead of eighteen hundred thousand bales the sales must
average fifty per cent advance to realise tho product Of
with these estimates and drawbacks the national gov
eminent extending its credit to the utmost limits, what
foundation have for the spirit OF adventure which
pears alphabetically to range through every channel
Of busness1 II is mere speculative excitement, with
| out any substantial ground to rest on.
It is essentially incumbent to examine these i'm
porant subjects with cautious scrutiny that may
be induced to trespass the bounds of discretion; we
therefore respectfully intimate that when the dangers
which may arise from the extravsgant increase c pr
vaie credits properly appreciated, we shall perceive
the proprety Of showing he country that we are not
TO enter the Of speculation, while the
accommodating distresses of the national treasury ougn
awaken the most anxious apprehenaoni 1877 sne sa
bility oil the common prosperity. AhisAiDEo'
| IowA-A correspondent OF the st. Louis jour-
nal writing from Iowa city on the IL n OF January
says:Ths locos held caucus last night ior inc
pose of reconciling their difficulties or rather 70 choKs
of several for the United States senate-ano
lastly, totry to bring over the possums huner we.
with them, but immovsbe; he Is man OF the suc.es.
integrity and the result was that the meeting proEe
and show yet 10 elect democratic Senator'S Inc
say that il they cannot elect two locos, tney wiz
tender their and refer back 10 the people
| On this ground the wings eady to meet them.
|
Destructive FIRR-A letter from the stage
agent at Alton, written yesterday, and addressed
to the sgent in this city, states that destructive IRE wa
raging in Springfield, Illinois when tne s'gs 'e.i, ssdp
| consumed the City Httsl and outbuiidinks, anu ms