The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1850-05-15

L
our political czlsmilies the great securi-
| ~ Of every thing prosPeroas, and great,
and riorious. 10 the fasure;--snd that 10.
THE unrTIp Lovk or a UNITED eovrRS-
nEkr.
To de Edisess Il tbs kssisssl Isss,Iissssss.
GExTIEnEK Aconstant reader Of your
paper 10 much surprised 10 end m The
Congressional debates on The inserminsbls
subject Of slavery. assertions. not unfrs-
qsent. that The country 10 in . ssass q pros
perily.
win yos permit = hooker on in Wen
M" 70 stills few facs suggestive Of the
question "a what our national prosperity
n present consists
IL il 10 be found in our trade 70 Califos-
mia. which, including Quilts, capissl. and
cargoes sent amounts 70 90 .o00. 900!
The csyoes 70 lose on an average 6f.y per
cent. q their eosl and where IRON eight
hundred 10 one thoassna vessels have
gone, most Of them 70 remain useless and
in . stale Of decayf
IL our prosperous condition shown BY
The facts that We are sending our stocks
70 Europe 81 the rate Of 1900. 900 per
week. ia addition 10 oil our shipments Of
grain. brsadslulIs. provisions. colon. rice.
and tobacco. while exchange 10 selling in
New York al Oh 10 81 per cent. 10 pay for
= vastly redundant. importation ofircn and
OF dry>goods. al time when most OF our
iron furnaces are forced out Of blast and
our cotton mills working short lime or
shutting up!
Were frsights ever so depressed as
they now are; and does our shipping in
ieresi show prosperous condnion when.
Notwithstanding the new trade open TO
California. shipowners are losing money!
Il is dso notorious fact that our home
trade is murh diminished. Traders 10 the
interior complain Of great falling OF in
the demand for goods ofevery description.
doubtless arising from the paraIyzaiion OF
our industry.
Have we any BETTER prosperity in the
future, when the debates in the British
Parliament show that wheat al the Baltic
ports is abundant. and that il can be and
is imported into England al 30s. per quar-
ter delivered there. price that will not
nett more than about 80 or 90 cents per
pushed Of 60 pounds!
From Chill. too, our Consul writes,
contracts have been made there By CON-
pany to supply California with -four TO
meet the ensire demand, at prices much
lower than we could send il ihilher, if .
railroad existed across the Isthmus.
While this is the state of our sgrlcul.
iursl. commercial, and manufacturing in
terests and prospects, our banks are ex-
banding The currency, our stocks rising
above their real value, and the spirit Of
speculation in them increasing.
The only apparent prosperity is found
in The advanced price OF cotton, arising.
however, from a great deficiency. proba-
bly, six or seven hundred thousand bales,
in the las. crop.
OF course the cry is getting up in the
Loc0loco papers that the Wings are al
work al panic making; but facts are stub
born things, and they who believe the as
ser.lon thai the country is in prosperous
condition because Of our heavy impor-
tations and the apparent plenty Of money,
will be wnfully deceived when the re- &C.
lion shall eome-as come IL asSurediy
tciH. unless measures aie taken to avert
il. We have now that state Of things
which produced the ruin experienced in
1897. Il is falsely called " fret. trade;"
legacy left US by the Polk administration.
for which We are in the main indebted TO
Bobert ]. Walker. whose report from the
Treasury Department was SO gratifying
to the British House Of Lords that they
landed il 10 the skies and caused il 10 be
printed. Mr.. Dulwer TOO, il appears, is
much pleased with The presen, stale Of The
iron business.
No comment is necessary upon the So
Tenn facts here stated, all known TO every
well informed merchant and trader. lf
they are doubted. lei a committee be an.
pointed TO examine into The state Of the
country. with power to send for persons
and papers, and then some useful legisla-
ton may be hoped for, instead of consum.
ing the greatest part Of the session Of Con.
gress IN speeches for Buncombe, upon
subject which could be at once satis(ac-
torily settled il patriotic spirit had any
influence in our National Councils.
A RETIRED MERcHANr.
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