The New York herald., 1850-06-07

Is Any in orti.g jobbSs house In this any other
city TO any act Of Congrr,s to attribute The fAn-
v~ q sny manufacturing company to the absence OF
. biph tariff To undoubtedly is source Of some
sonsolaton those no have through ignorancs bal
dsbis any oth.r cause been unfortunate TO thfos
the blame upon the government, and relieve them-
selves # all the odium attached to the absence of
cess hut the efforts which have been made to manu-
facture tynpaiby in the public mind, aud the cry
about encouraging foreign iadustry.n transferring
our wcrk benches TO Europe.n and dozens Of other
stereotype phrases have sigbslly failed, aud the at
t.mris made TO get up an excitement by temporary
partial of few mills have proved abortiye
The m.u uiacturing cias.ss through tha country
generally indepen lent of the government faT
any modification OF the tariff is concerned 1t mat
t-rs little whether the rate Of duty is nereas
ed or farther reduced far their tual xi,ence
il concerned Their increase and prosperity depends
immrssursiiy more upon the condition aud value Of
the currency than upon anything else. The measure
Of value D The currency regulates the value Of all
productions and the greater the value OF the ciroula
ing medium. the less the cnst of production and tho
lcss competition 10 contend with from foreign couu.
tri,s II We could Keep currency at certain
sanHsia Eha that standard not above that OF she
prinepsl commercial nations Of the world We should
socn experience very great change in oUs foreign
trade very rr,at improve meut and incresse In
ufae,urn tsrests. and alter time greater
fusry in the extern Of the from customs The
spaton OF tsr qussiion and all other regua-
ting commercial affairs s prod uced ty the fluctuations
in foreign trade and the various effects of the
act upon comm.rce, one year with another Ths
average rate of duty upon imports viii give GO
surplus year and leave deficiency the
next. Any depreciation in the valdc Of the circu-
lstipg medium increaes the importation and reduces
the exportation The influence of the currency upoa
foreign trade ia beginning to be acknowledged,
and, when generally admitted must bring abou.
very great change in commercial matters Instead OF
advo' ating highly protsctve tariff, should
desvor to influence .giflatures place the most
riRc restrictions upon the State banks check the in
Of these institutions and check the operations
much possible. OF those in existence. So long
We have thousands OF banks spread the country
forcing into circulation their paper issues to large
e1ttn mt possible. there he no permancncy In
the value of the currency sni very little probability
OF its being reduced to n level with that Of Great
Britain any other nation with which have any
extensive com nmercial intercourse.
The Legislature Of Connecticut has under consiie
ration general banking Law. According to its pro-
visions the securities TO he deposited lat their par
value with the State treasurer, stocks of the Ua
ted States. the States Of New York Massachus-tts
Ohio, the cities Of New York and Boston. aud any in
corporated city In Connecticut. The treasurer and
the school fund commissioners constitute board Of
centred who authorized and required to meet
month. to examine the securities deposited. II In
their opinion there not sufficient to protect the
circulation then IL is their duty to require additional
security forthwith and II II Is not furnished within
ten days then the Superior Court appoints receiver
who Immediately winds up tho affairs stockholders
individually liable for the indebtednoss of the bank