New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1851-09-06
FalIaeies and Frauds Of British Free
Trade.

amused at the various cOntrivance' resorteu
10 by the advocates of the maintenance OF
British power over the commerce oil the
world. with a view TO deceive their
readers into a belief that the present
troubles are not necessary coise-
quence of the policy that has closed fur
naces that made in lS47 four hundred thou
sand tuns of IRON, and rolling mills that
made in ls47 one hundred Thousand tuns Of
railroad bars, and cotton mills that con-
sumed in l547-S one hundred and forty
thousand bales Of cotton, and wooden mills
that consumed treiue or fifteen m'lllons OF
mounds Of ,eool-and that has during the
last four years, prevented the application OF
capital to the building of mills or furnaces,
and the opening of mines, to the extent OF
not less than one hundred millions OF dollars.
The Journal If Commerce assures It's read
ers that the disturbance must be temporary,
for permanent distress always commences
among the small communities of the interior,
and not among the commercial cities, and II
makes this assertion with a perfect knowl-
edge of the fact that every revulslon we
have vet seen has commenced IN the large
cities. THE Un,on's commercial correspond
emf. more acute, scents trouble and pre-
pares for it by arranging his plans for com
mencing abuse OF the banks so soon as ne
shall deem the fitting time to have arrived.
So is it that the British free trade doctors
differ.
Among all the free-trade journals we
know Of none by whose specuatlons upon
the currency we are more frequently
amused than we are by those which appear
in The Public Ledger of Philadelphia, a neu
trail paper that is, in this question, always on
one side, and that the British one. 1t IS for
free trade so far as freedom Of trade con-
sists in unfolding the British monopoly OF
machinery for the manufacture OF cloth and
iron for the world, 50 far as It's principal
remedy for the evils resulting from the
maintenance of that monopoly consists IN
securing to limited number of institutions
a monopoly Of the power OF banking IN Its
State--and so far 5 it would prohibit men
from determining for themselves whether
they would exchange their labor or its pro-
duets for bank notes, silver or gold. Such
is British free trade. Ii closes our mills
and our furnaces, and compels men to re-
main idle when they would desire to work.
1t compels them to see the great trade IN
mOney monOpolized by few individuals, and
it would compel them to take gold or silver
when they might prefer paper-and yet 1t
shouts Free Trade Regarding the day OF
trouble as being near at hand, our learned
doctor Of the currency, in imitation OF 1he
Union and The Journal Of Commerce, Is
preparing to account for 1T in accordance
with the system Of 1916, as will be seen by
the following paragraph, which we recon-
mend to the careful consideration of such
of our readers as prefer to sell their labor
at dollar, according to American free trade,
rather than ten cents per day, according 10
this British free trade, or monopoly, system.
"Panc has followed panic ,Ievglsion has succeeded re
vulslonspasus have shocked tradecred has been a
vscd- sd the whole social aurc has often toiierod on
the brnk of anarchy-and stun the dcluson paper
has been chung blessing. because ~ enhances prices
ofoucrhHg these high Prices crirpitd INDUSTRY h allow
g the cheap labor # reign lands supply Us with evey
species manufactured goods We create the evil mat
paes industry ahd Then cry ont Tor NOR "f me
same eN-ahd ta' on our heisnui !" III NJ up ,"' .l
loss may sustain 10y paper II one thousand d9Uirs
wages OF a factor, that could be worked hundred
dollars on he spec,c pqrand that difference caused 10y
monoy~which breaks down the facory-vho to blame
the country, the government, OF the pap's money ?
1t happens, most unfortunately for our
learned friend, that 1t Is precisely in those
parts of the country in which paper is most
exclusively used that prices are invariably
lowest, and that it is in those parts in which
men are forced, as III his own State to use
gold and silver, and forced to do SO in the
name of free trade, that they are highest.
The banks of Massachusetts count by the
hundred, and yet her people take the wool
of Western Pennsylvania, carry 1t to Lowell
and return it back in the form OF cloth, UNI
derselhng the gold-consumlng Pennsylvania
ians Banks and bank notes abound IN
Rhode Island, and vet her people undersell
Great Britain in her own market of Calcut-
Ia, feat which the banking monopoly Of
Pennsylvania has not vet enabled her peo-
pie to accomplish, The land Of steady hab
its uses one-dollar notes, vet It's sons pur-
chase Pennsylvania coal and Pennsylvania
iron, and carry them TO the banks of the
Connecticut, there To be converted into axes
for the supply of the beaighted Pennsylvan-
ians, who carry the gold in their pockets %
lock IT up IN their vaults, instead of applying