The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1851-06-16
CONNIE retail Condition OF the Country-Pass
and Failure.

History is philosophy teaching by example This
Is an old apothegm, but il always applicable %
the great leading aiars of civilzation-politcs,
religion, com urrce and trade The country at this
moment, in all is commercial relations, never
more prosperous never more successful, more en-
terprsing, more buoyant; yet in respects il
presents the same features, the same catrscteris-
tics which marked our condition Ia 1885, and pre-
vious TO the terrible revulsieu of 1857
The resent publication " the Treasury retans
for the last twelve months establishes the fact that
the estimates made by the Secretary Of the Trca-
sury for the past year, have been exceeded by the
Of nearly seven millions IF dollars
This single fact indicates the extraordinary de-
velopement . the foreisn trsls Of the country.
which the estimates pre5ieited and from viii "a
the IL cole :ted TIE foreign trade Of the
country Is dependent upon tn operation Of cnes
getic end expansive internal progress, which i
spreading AMI expanding it-sf az a rate unprece-
dented ia the history Of na'icrs. Ga the reasoning
that maybe based on this fact, or the result -
which t.poiute, II makes no difference whether tie
estimates Of the Treasury dsF-rtneot, AMI the
actual reeepte, prove the ignorance Vi the Secrc-
nary In bis opinion, much !; shows The extra
ordinary prosperity Of The c0gG.-y.
This il one Of the lc4liRg Facts sh0 wing th
commercial p,3gross of he country at this
moment s4L i 4 one u . s2ulr chlrafter
10 tia, which prevails ia every derlstnen; oftrsds
and commerce, f:5m The Atlsatie :. the Pacig !,
from North ~ saith. 1ae il. ra.is, The hns been
made 9 Tie enterprise ard trSle IL ;hc Atlantic
the susi;croas discoveries IA 1GliiO III has bee,
Astonissigg -beyoal anything e the history o.
ecmmeFsc zee - Grst discovery hy Colu slbus.
This accession 70 gold srculatioa i poiye AMI
real lac cnisrysfa. Il y banking capital and ;he
increase q iadiril4l credits 0f al ! inds WI "a 80
witness, a. not ~ - ssld pasti~c 4 cha ra,'er
During to lat year. p-ob1bly between tSeG.y a,l
Aigty milbsEs e bank 81 ilal has b,en all,d 1,
that wLisa i-ev9usiy ~-.ttcd flrm'og Che Lasis IF
az additions circulation = credit Is three tiuose AZ.
nEaaunt- or Gyty " sss.-aty millions n d5ilat
that may be rsgrcd ~ sust foundation lurinr 60
coming ycar. The LcglL4turc 81 th4 Ssate r.
nbou, = create re- u saue 81 state cred. e. IA.
sEouut ~ rinc.or cen millions Il l3,afs vixen rg
be equally applicISlo 70 To- ssle species y enter
prize IN - enlargement = The csrrcnay. an Lhe.e
iacis and eaouus'ancss 10 the pssgrc.s of cl me-
eial afsirl hiSe pro12sel tie *. & which taty
naturally We-ll e irsrsasing tie Prices &c ain *
a. To great R.aliss q IT, commercial wldl, ala
thosc 9!ileny - tko local a,tr!c, of barter a. s1e
Ihc pt.sEs e elton snl ether staples 80 f4r bc.
yon5 the usu. sst,s which prevail u gears u nj
ratinni rfai estate AL feuts in The city Of NV
York. al u ether place, have reached point A.
mo- equal q that q tho great speculative period
Of le'a. n fact, thc foreign trade ths currency,
the revenue, the vast INCREASE of the cash s1ss 81
public lsEds IT, prices u great staples the va.
emigration, the advance 10 real estate aud Ia spcsu
iativc property u Az kinds indicated The "a ~
general expansion Of business, tie same extrlo-d-
nay spirit g enterprise, aul "a, slme dangerous
movements and disturbances which lsd t. the Ter
rible revulsion q 1857.
We well remember the period q 1895, Is, and ~
We we're IN the nidst Of il, wrote IL history,
marke% A. progress. aud predicted its Gna consum-
nation The frs. symptoms II that great a..
turLanee - paroxyism il commerc al affairs va
Indicated ~ the increased revenue % the govern
Iasnt from al ssurccs an increase rar beyond tha
wait. a tho esaAtry a. that day. In oaly one re.
sFert the gear l.5i diftrs from ls}G tbs country
vac then free from debt. and dtd rot ki3g wha.
~ dosHith tie ruFIius re- nue. Ill, coaltry i
nov covered w,lh q national debt AL scflires tH
y receives e. fast ~ !, accrues 1ais i fttori5l
f5np,om q tho present, a. compa. y viii lt'5 IT'D
~ bvt TIE general loatatss 81 tAs tvo v,s.l At
- nise end - parallel, that Tic mias j naturally
go t. t1pcct results -omow'a. similar L. tAlis
shieh occurred il that iay 4 crash rsyg',ip1