The star of the north. [volume] (Bloomsburg, Pa.) 1849-1866, 1851-03-06

commence on credit, and pay in prom ises.
If they borrow capital, they have To pay six
per cent, or more, for the use Of IL; but
should they not be compelled TO resort to
that course, they nevertheless have to pay,
or rather promise to pay, more than thst up
on all produce and every thing that enters
into the manufacture of their article, be-
cause they do not obtain any thing on cred-
it as cheap as they would for cash. Besides,
too, You must take into consideration the fact
of the existence of a fictitious currency,
which is about sixty-six per cent below the
real value Of money, and il mistake not
the signs of the times, this difficulty will be
increased by the adoption of system of
banking upon debt Then add TO all the dis.
advantages to which have alluded that of
location, and you unavoidably make them
| pensioners upon the bounty of the govern
ment.
will now proceed 10 notice the PhGnix
furnace, situated on the Mahoning creek, in
Arms strong county. Ii was commenced
few years ago by Mr.. Whan, man without
capital, and before it was completed, it went
into the hands of Smith & Co.; and they
not having sufficient capital 10 prosecute
their undertaking, obtained credi, from Mr..
Lamar, grocer of Pi:tsburg, for the sum of
$4,000 in goods; and they also entered into
an article Of agree msnt with the Holland
land company for about fourteen hundred
acres of land upon which they paid about
fifty dollars, the balance bearing interest.
Accordingly, with this aid and assistance,
they commenced completing the erection of
the furnace, but the parties disagreed about
the time that the stack was completed, and
an officer of this House, (and for whom l
entertain the highest regard,) the only man
who had any moLey worth naming, went
out Of the company. II has since fallen in
TO the hands of several owners, and in order
10 prove that they were men without capital,
mention the fact that tina land upon which
the works are erected, is not yet paid for I;
and, al the last court of Armstrong county,
the claim of Mr.. Lamar, still remaining un-
settled, was pressed for collection. The ag-
gregate claim against the establishment
would exceed $40, 900. The furnace is now
in blast, and the present owners believe that
they will be able TO relieve it from its diff.
culties and embarrassments, by the proceeds
arising from The sale of their pig metal pro
vided the government will enable them TO
sell for a high price. The Buffalo furnace
was erected by Nicholas Biddle and Henry
D. Rogers, the State geologst. After the
failure of Mr.. Biddle ane the United States
! Bank, the works were purchased at SherifT's
sale by Messrs. Graft & Co., who are men
of capital, and have carried on the business
successfully Since the furnace came into
their hands, they have erected an additional
stack. They stale thesr profits 10 average
$40, 900 per annum. The Cowan Shamrock,
alias 'The Bake Oven" furnace, was erect,
ed by Messrs. Bonner, men without capital
1t has since been sold 10 Messrs. Brown g.
Mcconnell, and is now in blast The Olney
furnace, erected by Messrs. M'Cray s. Gal
bralth, is not in blast, the owners having
failed in consequence of the indifere nj
quality of the ore in the vicinity of this
establisAment,-it requiring four hundred
bushels of charcoal to make one ton of met
al. a.t
In the nei8hboring county Of Clarion, there
was perfect mania for building furnaces
and iron works. Those who could raise a
few hundred dollars, or get credit, must
have one. The consequence is, they have
overdone the matter. Even the Senator
from Clarion, (Mr Myers,) the liege lord of
Martha, was not coptent with her, but must
have another, Ia laugh, and if he has fail.
ed, il was because he wants 10 do too
much.
Now, sir, here is the true state OF the mat.
ter in reference 10 invoking the fostering
care of the government. These gentlem en-
engaged in the manufacture or iron, tell us
that they will break up unless they have its
protection, when in fact they have nothing
to lose. But, nevertheless, they have the
effrontery 10 come forward end ask the gov
eminent to give them what they have not.
Then, why this Clarion voice, this lamenta-
ton and scos Sir, the history of The matter
is this parcel of rogues went into that
country, and persuaded the good people that
they would not only get rich themselves, but
also make others so. By this representation,
they wheedled them out of their grain and
provisions, and now instead of getting twice
as much as their neighbors, as The gentle
man from Clarion said, they will ge, nothing.
Therefore, as matter Of course, all the
blame and odium is 10 be attributed TO the
tariff. Sir, that voice is long and loud, but il
| is not quite alone; for we heal another dole
full sound-( looking in the direction of the
seat of the member from Lebanon) that dis
NAL cry comes up from amid the cedars OF
Lebanon, and chimesin harmonious concord
--''the tariff, tariff, tariff" "a laugh.)
These, sir, are the eadings ofthe friends
of the would-be favorites of Heaven. Why,
are they not composed of flesh and blood
like others Do they not breathe the came
air, and move in the same light of the day
and live nnder the same government as 9th
ers "a government whose genius is equa
privileges 10 all, and special privileges 10
none. From whence do they derive the
right--a right granted 10 none others? But
sir, il their prayers should be granted, tEos'
Who do possess capital would be reaping i'm