New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1847-12-28
Hustness Prospects. .

The following extract from the Editorial columns
Of the H,roid though repete with the extrsvs'
o.ocs aud recklessness 70 which that paper Ia sd
d,oted. NAV re ward moments attention;
"Tbi. terrible devastation has been brought ABOUT BY
tie seton n tie capitalists Of LoDoon and th- b2nk VI
tossDd. They are ~ ses.Feo u ne ssus poLP.,,
Of dirDo shiay the price, Of Cotton Corn 500 oihs "a
ps. also Of thrc~ns gss, Quantities o. sooe' 100 tIe
Cotsd state. for the porposs Of drawing OF our
10 Lo0don II is expected thst ieen or t"rny %
dar, syscis IA yet be tsksD from the Initeo otse'
VITA this eEtr-s'dlnarJ course Of P1hcy em9's l4s
capitalists Il LONDON The vosiron o. hnsne - ans5. -
,hs c0potrv 10 with ihs government aod tne
babt. o,oolns, doups inisesns l'nmel'e Iosns Nj,
be required By The American Eovefnu'e 20
Mexeofo hcro 10 90 pros Pect 81 petce lncs9
loans viii como put II N money rnaFses OF us W.
clues, 10 funds foTniabso by cag1is ~ho own ePos,
80 IN. banks Of course Tho banks VIII have
70 pay aud take these loan' ~ The same time ina zoe
6fsia ofspecie j. going o. rom me ov0nfy llio
Btu<en too 4ct aG,caces srIH &c mUacte a. 10 hge
ALREADY sfsfsd (tl basting sstfafi9ns u m country
caa maintain thar solpency, and P9y ttU depss IN Jf
a.d ,,tcs occofdr taD There must be sOus Icaxs-
ton .Eishsr the Amsdcan government must
abandon tho e5ury system which dct entirety on he
principle Of spec the banks must suspend
There il alternative We m-y LOOK a. u - Two oisins
the vaults o. the btaks- the one Prooueeo Ds
Of the Back o. Eagsod and tho other caused oy ns &c
ton ofout government and the t5es'ury department 70
supoly fInds Tor the Mexican war"
Let US make tho usual discount ON Herald state.
ments, and suppose ooe.loar,h Of tho above to be
true Who does not see that here Is ample reason
for raising by Taxation instead Of Loans whatever
funds may be needed by our Government in ls4'
beyond it. ordinary revenues Let the Govern
rnent borrow Twenty to Forty Millions, and the
whole must DO drawn from few cities, dcraneing
the circulating mediOm aud causing universal pres
sure and disaster; bat let the same amount be
raised by tax, and the call will be Uniform ond
sqasbe. creating no suspension, no CONFUSION
Hoo can there be two opioicns among statesmen
on this subject
Then as to Our Naronsi fodos''y. why should
we send our Cotton and food TO Europe 20 be re.
turned TO Us in Cloths, Metals, &c. aud thus bring
our entire Industry directly within the vortex OF
the coovulsions which the Old World Is fated TO
undergo--is now visibly undergoing live made
our own Lon. Cloth Wares &c. who would fear
suspension Of our Banks or anything approaching
III IL is our needless and perIlous ENHANCEMENT
with Europe which uohinses everything. Let us
but make for cur ourselves so far % Nature does
not forbid. bus Jog freely ~hs.ever our own country
will lot abundanily produce while other countries
will, and we sht watch the progress Of affairs in
Europe with no other than humane Interest, un'
Affected by the imitation or collapse Of Credit, the
rise or fall Of dynsstss. shsn VIC never learn this
simple wisdom