The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-12-12


gether with free and reciprocal commerce and inter-
course.
The Mexican tariff, prepared by this departure Mt
and enforced by the President Of the United States
with view to military contributions in Mexico added
several millions Of dollars to during
cent contest well aided the credit and loans Of
the government It o but most sanitary ex-
ample set begerents in all future wars not to
stroy their own commerce, and that Of neutral and
friendly powers, by embargoes and bockades of the
ports Of the enemy but TO dimipish the evils aud
losses of wars by encouraging our own commerce
and that of all the rest Of the world, with the
enemys ports, at more moderate duties, and at the
same time devolying upon our enemy instead OF
our own people ss large a portion as practicable OF
the burthens and expenses of the contest. as ia
bring IL to speedy and honorable conclusion. This
example, so favorable TO neutral nations, mitigating
much the losses of wars, substituting mmerce in
stead of embargoes and bIockades, was viewed with
high satisfaction by all the powers with whom
at and ia .ved at the same time to have had
no Uncomfortable influence in acceleratBg ths peace
with Mexico. 4 his measure was step in advance in
the progress Of commerce and civilization IL was an
example worthy to be set to all nations by the
United States and warmly approved by all
countreU that II, unfortunately for mankind. wars
pean the danger of which many apprehend to be
imminent, this American precedent would probably
be adopted by other powers leaving all ports of the
enemy opened to neutral commerce. and the conse
que MT gain to our country ipcalcuable. We should
not only have gained the great principle for which
have so long contended, that free chips make free
goods in trading with he ports of neutral when in
her own possession but we should also terminate the
system OF actual well as paper bockades and leave
belljgerents This confederation is rendered more
none ntous by the fact that future position It is
hoped. in all time to come, will be that of neutral
aud that as the result part Of wonderful mill
tsry power, displayed in our recent glorious achieve.
meDts and unparalleled victories well M from the
develop of extraordn noneyed resources
moIe than hundred millions of dollars having been
offered by our own capitalists at premium, for go
ent six per stock upon advertise for
less than one half that cum we shall be permitted to
eroy hereafter the blessings of uninterrupted peace
with all the world.
Amor tbat 80, .
lean tariff as prepared by this department IL the light
thrown by its operations upon the commerce and
venue 0f Mexico and the denomination that both
would be augmented by its provisions So strong has
been the effect produced that proposition to remove
TIE prohibition nearly all exports to Mexico,
isng under the old system, carried In House,
az the recent session Of the Mexican Congress leaving
it hoped only the details to be perfected at
future sion measure thatswould open new mar
kets to our products and fabrics prove highly bene
fetal TO Mexico and unite the neighboripg republics
In the more intimate and friendly relations Of
In or asing reciprocal commerce and intercourse.
renew the reconme dations contained in all my
annual reports, for the establishment of u branch
Mint Of the United States at the city Of New York.
That city, great cal metropolis advance
ing 10 its ultimate position $50 important to the
whole country "a the emporium of universal COM
merce, the centre of exchanges and the
storehouse Of the products of the world. To attain
This result, must for great emporium Din
competition with foreign cities the command of her
due proportion Of coin and bullion Now it is clear
that where bullion cannot be coined and RECON-
age take place this cannot be accomplished America
are now found in extraordinary quantities in
Union and to vast extent in countries djacent;
yet nesry oil this coin and bullion lie diverted to other
countries, and espe cally to Great Britain being
Ct the chief Instruments in aiding that country in
main tanug her nd of the business Of the world
By steamships and by exports Of her own products
and fabrics, che accumuates coin and bullion in Lon
don, and provides for their coinage
the least time and without expepra and vet in our
NJ" "'' "-r"'-' ammonium. we have no Mint or q
bra nch Mint, forh the important process OF coinage
cd re-conaRe. If would command the commerce
Of all nations, 1t must be through some one american
commercial emporium. the great centre OF our own
trade nd business The history Of trade
that some such great point is Indispensable to enable
any nation to command universal commerce. and that
fuch concentration at some one city, instead Of in.
uring other cities parts Of the same country il OF
immense benefit to all. There cannot be two or
hpan cial centres Of the foreign commerce Of any
nation an more than there be two
tres of circle The ssme principle OF the centre OF
the trade Of nsoD applies to the trade Of the world
There can be but such centre for the world, and
but for tach nation which in this country, from
tit on must commence with foreign cities for the
control Of international commerce Now as the COM
mand Of the specie of the world is Of immense benefit
to our whole country, and can only be secured by
making ore of cities the centre of universal
commerce. 1t is indispensable to in this great
American enterprise that specie and bullion should be
invited from ali the world to New York not by any
unjust advantages but by giving to II equal facilities
with our other cities for coinage and re-conage.
1t is not for New York merely for its commerce,
that this mint is desired, but for the benefit Of the
whole Union. The ttorehouse Of the goods and the
become Rt0rehOuee
its specie. Where the commerce and goods there
the of their vslue must DO Also and
there also, should be every facility which a mint
would give for increasing these circulating values and
{pr briD gpg them into immediate and active USE in
form which might be desired II is in vain to say
the specie or bullion brought by our commerce
Hew York can BIZ rent to a distant point, where
is mint with but little delay risk,
fe. 1t lie clear there must be some risk
and expense, operating as tax on the bu-
CUR commercial emporium, and to that
dering unequal her contest with European
oiverssl commerce. Coinage and re coinage
94@ pmediate, without any risk expense de-
44I hight be said, as regards mercha ndze with
eme truth as is urged in relation to specie,
I'D be no injury to the commerce of the
Neht and costly articles could be rent at but
4xuense, risk or delay, from New York to some
on there to be stamped, marked or labelled,
<4tuxned to New York for sale and distribution in
xonerol markets OF our country of the
B seems to be forgotten by those who present
H 0fuments, that in great commercial capital,
~ business to the amount Of millions of dollars Is
9neoosed from ten to three O'Clock, how important
UUelf wbe the delay Of day. nay. often of hour,
nay ~ most disastrous, and change the balance OF
70 loss. Merchants and men Of business should
ytfmitted to exchange their bullion or foreign coin
- American in a few hours or moments, as could be
done at mint, or receive at mint certificates Of
deport which often might be to them Of the greatest
Importance. The trade in bullion and specie in itself
one great branch of commerce, indispensable in the
Transaction Of business and especially Of utsrnat
al .xchange, already exists to great extent in New
York; but Is limited dusiDg its benefits to Ame-
rican commerce and exchanges, by the want Of mint
Now is subject to expense risk and delay to put 1t
lD" Ioim Ior cHculRtDR values, tDat delay being
it@I great less of capital, whilst the ioreign con
con- sting Of denominations unknown to the great
bod Of our people Is almost useless fer the purpose Of
general circulation
II is the rapdty OF the circulation Of coin that gives
II its chief value. and accu nulates capital by the
peo6y realization Of profits and the Americ an eagle
or bsf eagle and cur other decimal coinage might,
In few months, perform more of the fun ctions OF
money ard pau rapidly through greater variety
OF bands, than lift in foreign and unknown
coin, which would not circulate among people.
Hence 1t Is that mint at New York. to give activity
IN ofr -
oroe into American coin would be of vast importance
TO tie whole Union.
Credit when based real capital, Ia highly beneA-
cisl TO the commerce Of the country. And specie Is
one OF the main pillars upon which credit repose
with assumed confidence; and must have that spe-
Gle rs the be Of such credit, at our commercial
emporium five indeed desire to make ii the of
int irrational exchanges. With view to augment
The circulation Of our own coin, in country,
this Depar men has arrested as far as practicable the
payment OF foreign cen out Of the Treasury requiring
it TO be rec oned into American coin by which m