New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1851-03-13

highway Of commerce. with the consign, You sas.
not pass.
Ii, as think, have proved that credit and an.
change are one, it follows that n manufacture, A.
producer. having need Of c1ediE will Immediate,
address hinseu T. consumption aud production IL
stead Of TO the eaptalist He will address hin,sg
70 consumption for orders. and then on the ann
and credit OF those orders he will purchase Tia
materials, services, &c, necessary 10 comple.s
them he will pay Tor these materials 30 win d.
paper, which. with proper precauiions. Will Ia
converted by the bank Into exchange nans,
Thus the consumer 10 the direct demander al
the Intervention a. tie none, ed man is no Ioure,
necessary between him oud the manafsctare,'
the products which are completed or which Vii
be so in a given tinie, will be Immediately A.,
changed without 20 between and Eithout n.n,~
by the mere organization ef exchange Bur ~.
under the present prob bitive roy atty OF Gold !.
impossible. The producer will not have to ooc1.
py himself about procuring money; be viii have
only to establish bis productive power, snd To
accepsabiity OF his productions.
Great facilities are thus given TO all producer.
either to extend theif affairs, to overcome dlcrl.
ties, or TO recover themselves after Losses; Ana
this alone would open wide market because, in
point OF fact, production and consumption rs
synonymous.
There is yet another effect which will open ths
market indefinitely. As in the new system credit
is equivalent 10 the exchange Of produots al ala,
exchange is equivalent 20 wealth. In fact when
the circulation OF products becomes active, reeu.
lar and complete, then the producer, being no
more uneasy about the future, will have no need
OF laying by money: the workman, conscious Of
having in bis hands a source OF wealth. will spend
his money instead Of saving il; to purchua
will be for him the same as 70 lay up money
Under the system OF reciprocal credit, capital
will be accumulated by exchanging instead q
by saving. To preserve a number Of bills u
credit will seem Ms great a mistake as 10 have
bread and net eat III wine, and not drink il;
clothes and not wear them a good house, and
not inhabit it, The savings bank, that pioas four
dation of ancient philanthropy. will appear in ts
true colors, as the bSne OF commerce, and q sigu
OF misery.
Demand increasing indefinitely with the meaus
Of production with facilities for circulation, and
the desire of comfort and luxury, tho supply Of
labor will be always less than the demand pro.
duction, hitherto always in excess, will then Be
always insufficient
If YOU wish 10 increase production, IL you wish
to organize labor or to render labor attractive
increase the demand. Form a vacuum in the et
culating apparatus Of commerce; and then pro.
duction will follow the cah Of demand, as water
follows the piston.
The present relative positions OF demand and
supply being thus transpnseoi any sacsness Of
work will be impossible. The profit arising from
this cause alone will be very important.
When explaining the principles Of the Bank Of
Exchange, / said that when bills Of exchange ara
delivered in exchange for commercial paper, a
discount of per cent. will be taken. Tha
amount Of the discounts OF the B ank will replace
the interests and commissions nov paid 10 bankers
and capitalists, as the natural cost Of the circa.
latipg function, function which, according DO
true republican principles, does not appertain TO
any individual or to anycompany lt is more than
any other the social function and should be exer-
csed by the delegates of ali the trades, &c. under
the superintendence Of the State, bat independ.
emily Of it.