The republic. [volume] (Washington [D.C.]) 1849-1853, 1850-05-20

From the Nep York Tribune
whittier we arc tending.
Our matter of fact commercial reporter has the
following business like statement in his money re-
g Hon. Alfred Kelley, President of the Cleveland.
Columbus, and Cincinnati Railroad, who went 10
England early in April, has succeeded in purchas-
ing 5000 tons of rails, sufficient to iron that road
The iron will be sent forward at once, via Quebec
No previous arrangement has been made on equally
favorable terms Mr.. Kelley has also negotiated at
good price the bonds Of his company TO an amount
sufficient to pay for the above iron"
Were this an isolated case, it might pass without
comment; but when we consider that these nve
thousand tons of British rails but part OF the
five hundred thousand recently procured, already
purchased about to be contracted for, we bespeak
for the subject thoughtful attention.
At this moment while our chief staples Tor ex-
port are bringing good prices-cotton an unusually
high one-and our country is IN full possession %
swiftly, madly into debt to Europe. National
stocks State stool railroad bonds, and other forms
of indebtedness, are weekly sent across the Atlan
Continental industry. In the full enjoyment of
peace, health, plenteous harvests, and all that
should make nation thrifty and independents
wise, frugal, and far-seeing public economy alone
excepted--we running in debt at the rate OF
not less than fifty millions per annum. At least
one third of our iron works now closed, and
most of the residue working feebly and obviously
while we are buying iron Of Great Britain by the
for it. Foreign silks come in upon US by the twenty
millions worth, but our own infant silk factories
are fast dying out. British cotton and woollen
fabrics are flooding the land in unparalleled pro-
fusion, while American factories shutting up,
or beginning to work short time. The Union tells
the people that this Stacking work is nothing but
trick of the manufacturers TO drive Congress into
an increase of the tariff!
All these fabrics that we are SO giddily running
in debt for might easily be made here without di
minshing in the least the efficiency Of our undis,
turbed employments. With a tariff that would set
every factory, FORGE and foundry IN fui operation
there would be not less, but more, agricultural pro-
duction than there now is. Every mill or forge
started would be an added market for fruits, vege
tables, dairy products, &c and would set hands az
work to supply them. The land now meagerly EN-
ploying ten men in wheat growing would prohta-
bly, occupy one hundred in gardening. with
tariff which would ensure the production on our
own soil of the fifty millions worth OF products that
we are this year running in debt for, we should pro-
duce all beside that we now shall. The labor now
crouches and crowds in our cities and villa es or
rambes idly and wishfully over our broad lands IN
quest of work or game that would set all the wheels
and trip hammers going that are now rustng un.
used. Moral evil crowds on the heels OF physical
want and uncertainty of subsistence. II Great
Britain would make our iron and cloth Tor nothing'
it would be unwisc to accept the offer A nation
needs 70 do well as 10 receive, and the varied
education of its physical is essential to the full de-
velopment of its intellectual and moral powers.
How long can this running in debt go on! sup
pose our foreign creditors would never want the
principal we owe them, is there not some limits to
our national ability to pay interest! How are we
ever to pay twenty or thirty millions OF interest
per annum, IL we cannot now pay Tor what Weare
annually consuming?
We lay no blame on the buyers OF iron and cloth,
individual corporate the laws Of trade tell them
to "buy in the cheapest market" and no company
will Justify its officers in paying nifty dollars per
ton for American rails when British can be had for
forty. So long our ports are open, the British
will rule the market But we are, nevertheless,
A ls.3ta fhn ruI
roads themselves if the tariff were made strictly
protective The difference in the cost Of iron would
hardly be felt, while the difference in transporta-
ton and travel could hardly fail to be. One facto-
ry or foundry at work in this country makes more
business for railroads than ten such in Europe,
though their products all consumed here.
Bear witness, Massachusetts and Virginia!
The time must come-we dc not say when-that
the fabric Of what now seems prosperity must tum-
Bile into ruin. II is not built rock but on a
treacherous quicksand, which any moment may
set afloat A tumble in cotton, panic In Stocks a
political commotion in England a general convul-
sion on the continent q run on the banks of theSa-
cramento, which shall compel them to stop dis
gorging-any of these, or dozen other casualties,
may bring the whole dollhouse about our business.
mems ears. And good many who sec THIS and
10 step out just in season, will find themselves
a moment too late.
Perhaps the following facts will be recognised
having applicability to the subject discussed
in the foregoing:l
WESTERN PENNSYLVANIA IRoN BUsIsEss.-The
Pittsburg american states that OF the one hundred
and twenty-one hpe furnaces-that Is those recent
ly in blast capable, from location and resources
for stock, Of again bowing-situated in the coun-
ties of Mercer, Venango, Clarion, Armstrong, In
diana, Cambria, Westmoreland, and Fnyette,
which comprise the iron regions Of Western Penn
syvania, but fifty-nine now in blast, producing
a 400 tons per annum. The whole number OF fur
naces make, when in operation, 81 600 This shows
nett loss in the industrial products OF the country
II pt..t.a llv That
tributcd TO there being demand, is shown by the
fact that in the years when the production is great
est, the prices are higher. In this view, then, the
actual loss may be stated in money thus
"a 900 tons, at an average Of $50 per
ton. ..................-.... SZ,SZ4,VV'
AZ 200 tons, at its present average, $22
per ton. ...............''..'...' i,oSo,fV'
We have amount Of loss to these
counties oil. OBSERVATION-DISCLOSURES Si,oSo,oo'
Sad as this picture is, still sadder one is in pros
pect. OF these fifty mine furnaces stated 10 be in op
Grafton, the american tells that about two thirds
making their last blast and that in the year lS5
but twenty of them, probably not so many, will b
at work. II IL useless, in view OF such things, io
the oracles of free trade 10 tell that Pennsylva
mia has her interests sufficiently protected by thu
present tariff II is easy when such pictures as thu
above presented, for Locofocos to cry out tina
the Wings are endeavoring to get up another pan
ic but IL is not so easy TO make the people OF Penn
sylvania believe they are prosperous when desola
ton stalks rampant in their midst
LOUISVILLE, KENrucKy.-The friends of Louis
vile never had more 10 rejoice over her pros
pcrity than at the present time. She has been ad
vancing for several years with constantly acccle
rating pace, but her prospects have never been a
fair as they arc now. Business Of all kinds is re
markably brisk, our manufacturers are CONSTANT,
engaged, and our population is receiving accession
beyond all precedent.
In 1910 the population of Louisville, according q
the census of that year, under twenty one thou
- l.. a. Va
no reason TO suppose that this ratio OF increase vii
fall on On tho contrary, shall not be surprised
II the annual increase in population shall here
after be over fifteen per cent, the average increas