New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1851-10-16

No. w.

"A, nd their true interests and avoid bank
ruptcy, should awake to the fact that IN i'i-
loving .he advice Of The Journal Of Con-
me,e.. The Ecen,ng Post, or any other oil
the journals devoted to the maintenance OF
British power over the manufactures AMI
trade Of the world, they are following olind
guides, and must inevitably be led to fan
inte the ditch Month after month ana
year after year, since the passage OF the
act Of 1916, have those papers teemed with
Es,.e statements in relation to the working
osthat act and of its predecessor, the act OF
ls4o. all calculated to lull their readers INTO
alse security and what are now the con-
.eoueuces? Pressure everywhere, produced
by excessive impOrtations; and their ohiy
Aope of relief is now seen TO be founded Oh
the fact that that pressure must compel the
early expectation of the cotton crop, the
necessary consequence of which must De a
fall of prices abroad and dimlautlon IN the
prsduct of the crop amounting to many
millions ofdollars, producing necessity tor
The expectation Of more coin or more Stocks
or a necessity for reduction In the amount
Of trade, to the injury Of all engaged IN
trade.
We have used the expression false
statements" and have done so with the de-
,iberate intention that it shall be received
as indicating our belief that the statements
10 which we refer were prepared with
viev 70 deceive and mislead the readers OF
those iournals--the very men whom me
Journal of Commerce now consoles IN theif
difficulties by the expression OF hope that
"the present pressure may continue long
enough to prevent grand blow-up some
two or three years hence" In evidence
that such was the object, we will now again
call the attention of our readers to the du-
plicity of The Journal in placing the busi-
ness Of the fiscal year 1867 to the creclt
of the tariff of 1916, which came into exist
ence at the close of 1916, and was practl-
sally imperative during almost the whole
year l847, thus presenting view OF the
course of trade under the present system
that its authors knew not to be true one,
and that they knew equally well to be CAL
eulated greatly to deceive their readers.
We desire also to call their attention to the
fact that in its recently published state
ments intended to prove that all was safe,
The Journal has suppressed all reference
70 the vast portion Of our exports now an
aually required for the payment OF interest
upon foreign debt Of three hundred m't-
lions of dollars, incurred under the COM
promise tariff and that of 1916 and that 1t
has also suppressed all reference to the
wen-known fact that the amounts sworn to
a the Custom House are no index to the
real amount to be paid for our imports and
that by thus dishonesty including the last
wear Of the tariff of 1912, and as dishon-
esuy exclud ing interest and false valua-
tions, it was enabled to produce the false
impression that our exports and our I'M
ports nearly balanced each other, and that
no serious danger was to be appreheRded.
Again, we invite their attention to the fact
that early in the pressure the same Journal
Of Commerce cautioned its readers against
alarm, assuring them that real and perma-
nent pressure nerer commenced in the COM
mercial cities, but di,0ays in the lesser com.
nunities of the interior that supplied
~the small rills" which fed the great
stream, and that it did this in the face of the
fact that every serious pressure we have
ever vet seen has commenced in the great
cities, and has thence spread into the inte-
rior, as the present one is now doing. The
homes of the friends of the British monop-
oily system are now, as we see, based upon
che idea that Il ,cill make its way that un-
der this free trade pressure the planter and
the farmer will be deprived of all volition as
70 whether they will sell their products or
keep them, and will be compelled to send
them to market whatever may be the price,
and thus relieve the merchants of this and
The neighboring cities. We hear from day
70 day that cotton is being rapidly shipped !;
that cotton bills are becoming numerous /;
that Southern banks are calling in their
loans because of the demands upon them
from Northern cities; and that to the
pressure thus produced upon the distan,
communities that supply the little rilis :"
BY which the City is fed, our merchants must
leok for relief from state of things that
but recently was regarded by our neighbors
of The Journal as mo calamity" but on
the contrary as fortunate occurrence, ths
only apprehension respecting which was