Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1849-01-25
From the Boston Atlas, jan. 10.
MONEY AND BUSINESS.

The recent accounts from Europe are full Of
encouraging accounts OF the revival OF trade
France seems to have settled down quietly I'M
der the election OF a NAME, rather than man, to
the Presidency, aud though we have no conf
dence Ia the stability of her government as now
organized, the present effect is a revival Of man
uiac'urng industry and decided Improvement
IN her trade. Tho German volcano, which
lately poured out destruction in all directions,
throws up just now lutte but smoke, and the peo-
pie are thinking more Of their ordinary personal
interests than of political affairs increasing
their production and consumption and beneGttng
trade.
England, with plenty Of bread at low prices,
and plenty OF money choapcr than ever, finds
an increased demand for her manufactures on the
Continent and elsewhere, aud looks forward with
good deal Of confidence 10 a year Of piosperI-
lty. The natural consequence of this reaction
Is an advance in the prices OF all articles Of mer-
chandlse, of which the supply is not excessive
as compared with The demand, either present or
prospective, amongst which are cotton, sugar,
coffee and iron. Brcadstufls were still declining,
and shipments from this county for some tine
mus, have been losing operations; nor IS The
prospect any better for the future, unless prlc es
decline materially at home. The simple fact is,
that when the continent of Europe produces a
surplus, the English market for our wheat and
coru is no. worth q straw. " Four successive
) years Of scarcity in Europe" have created de-
uslon On this subject, which has led many TO
suppose that We are 10 supply England with
bread at our own prices. very moderate sur
plus on the continent the last year Is DONG some
thing to restore US to our senses on this point,
and # tho crops Of the pr, sent year are only
equal to Inc last, and no potato rot appears, the
fact we have stated above will force itself home
to The conviction Of every man and those OF US
especially who depend on agriculture WIZ DC
: SATISFIED to abandon the foolish experiments
d which are destroying splendid home market,
! IN the pursuit Of "wil o the wisp" across The
u water.
Part oil The anticipations OF English writer's
we observe, are based upon the expectation that
" America will pursue liberal system of COM
: merclll policy" In other words, that we shall
continue to encourage their manufactures and
II ruin our own; To export Tor their use our coton
: wool, and GOLD, and take from them cloth and
, iron which we can make al home, while we turr
" our own labor to the production ol corn III order
u TO lnsure-by our competition with the corr
growers OF Europe in The English markets -
cheap tread 10 English labor, and cheap labor Il
re English manuiaciurerS
H. I hat the balance OF trade was largely agans
rs us last year was perfectly evident from the ION.
~ continued export ut specie, but to what cXten
u no one could ever have ascGraued from the Pre-
D" sidenI's message or the Secretlry's report. /
i both Ct these ingenious documents our export
are made 10 balance our imports, or very uearl
he 50, aud not u word Is sid about sp-cie as comp
'lh slng any part Ut the cXplrts. II this were
IA. mnltrr ut lutte ar uo Importance we should C
it an oversight, but as II happ Us 10 DC the a
lls important point We attribute Inc omission u de
m sign. 1t happens, however, that one ct tue "dC
compnn, lng docuueus" gives some light upo
IL tue aublcc'. We find therein that
tie The tote lmPor S for tue year ending
re- July 30 lc45, were Sl54077,9 81
IN, Total OF domestic exports for
the same period, Sl7U,2037O9
TOTAL Of foreign produc-
tons exported, 1,9SGSO6
Total Of exports exclusive OF specie, 1873, 1907
We, Excess OF imports, Sl6,767,3t
u. winch, OF course, was paid in gold aad sirer
on Aud while this heavy export OF the basis OF o.
III, currency has been going on, the beautiful m
10 chine, The sub treasury, has, by its operation
diverted from its regular channes, and renders
useless for all business purposes, as large a SUI
!. II no. more, over what would have been require
under any other system o! finance ever yet use
on by the nation.l government. Ii IS clear as ligl
irJ hen, that these the causes, and the on
OK; causes, Oithe severe pressure IT the past yea
Ec Without any demand for specie abroad wlthol
Id this wholly useless--we may say malicious =
re dsturber Of currency at home, the year whc
nd has jus, ended would have been one OF gre;
prosperity to every interest OF our country
Win these depressing causes, II has been one
&c, great uLve siry. Capitalists have grown rcht
es because they have obtained more than doub
rates of interest: md they have been the on
OF .aners The gteat staples of agriculture Ina,
Ia. been constantly declining aud must 60 lowe
We s;lI. Manufactures IN the mass have resule
az in loss -some branches in total rum. Buslnc!
men, on the whole, have not held their own
ed. mand and worth of labor are sensibly dimnshe
US. every where. And with all these facts beto
Isl. us, our Chief Magistrate, in hi, late Message
my Congress, gravely congrntulates the country u
el- Oh having escaprd most injurious expa isit
lry of The currency What II wonderful escape :
'r' ~ ''.'l,''ua Us " ~, hoi
III VINO Congratulated her huSoanu' WIN IeirS +