New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1851-11-26

A correspondent of The JOurna! If Com
lnerce has lately called the attention of its
Editors to the fact, that the exports Of the
cotton crop of the present year cannot re-
alize more than sixty. six millions Of dollars,
instead of eighty eight millions, which he
supposes to have been realized from that OF
the past year, leaving a deficit of no less
than twenty-five millions to be supplied from
some other source, and desires to be in
formed where we shall be, ending the
season with exchanges at a gold-exportng
price, and "a supply of cotton bills less by
IS per cent than during the last twelve
months 2" In reply to this, The Journal
says, that "no one anticipates such an
amount of importatons for the next year as
has been reached in the present year," and
for themselves, its Editors say they think
it fair to expect considerable decline of
our imports during the coming year.
For four years past, The Journal has
paraded its statements of increased imports,
with view to prove the beneficial work.
ing of the tariff of 1916, and it has done SO
with perfect knowledge that a large por-
ton of these imports was stillunpaid for; and
that we were gradually creating a debt, the
mere interest upon which must absorb more
than the proceeds of all the food that Eng
land could purchase--a course of operation
leading inevitably to the ruin Of all who
should govern themselves by its statements.
Free trade, said they, gives large trade, as
witness the quantity of iron and of cotton,
of woolens and Of silks, that we purchase
When the disparity of our imports aud our
exports was exhibited with a view to
prove that we were marching steadily or
the road to ruin, they gave tablesto prove that
no such disparity existed, suppressing the
fact that cotton was overvalued by at least
twenty millions of dollars; that imports
were undervalued by almost as much that
eighteen millions were needed to pay inter-
es; on our foreign debt; and thus they fully
accounted for the important fact that we
were going in debt to Europe at the rate Of
halt million to million per week, while
every table they published tended to prove
that no such debt was being created, and
that if we did export bonds, it must be, no.
because of any necessity for so doing, but
from purc; pervcrseness.
NOW, however, we are to have differ
ent state of things. mo one" we are
told, anticipates such an amount of i'm
portation." We are becoming poorer, and
the power of purchase has diminished ; and
they think il fair to expect" not only 4
decline, but ga considerable Decline" in
the amount Of trade in the coming year.
What, then, becomes Of the assertion that
,i,e trade makes large trade1 If so, the
quantity should increase with each and
every year, and with each there should be
an augmentation in the ratio of increase :;
but such, we are now told, cannot be the
case. Our population Will be greater this
NSdt thdi ioSt W aiiiioot d iilliIluH Vi SOutS,
and yet we are to be able to buy less than
before. Every week adds 10 the list of
furnaces that are closed, and we are aeyer-
theless to import less iron than before, al
though the consumption is already less THAI
1t was four years since, when our popula-
ton was less by three millions than at pres
ent; and yet the tariff of 1912 was repealed
that we might obtain iron with increased
facility.
Our consumption of cotton is less now
than ii was three years since by no less
than one hundred and sixty-four thousand
bales and yet, of the cloth produced, we are
compelled to export almost twice as much
as we did then. Trivial as has been the
increase OF imports, it is already declining.
Inc journals correspondent states thar the
export, IN pounds, from England to this
couatry in the first nine months Of this vs,r
ss but as eight to eleven that were exported
in the last year; and great as is this reduc.
ten, we are now TO witness still greater
one; for We must, we are assured, look for
considerable decline 81 imports.
The consumers Of cotton goods were as
sured by The Journal that the tariff of 1912
raised prices and diminished the power to
consume, and that if they would only re-
peal that tariff they would be supplied SO
eheaply that they would be enabled 20 con-
sumo far more. 1t was repealed, and the
malls were closed, and the result is that the
consumption, per head, is now less by one
'iard than 1t was three years since. The
P'""ucefs OF cotton were assured TIA. the