New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1852-01-09

e. prove that the tOen existing state OF
things could cot long endure, assured taeir
friends that serious pressure never com-
mepces in the large cities, bat always
among he small rills" By which the great
er streams we've supplied, and ,hey maze
this statement IN face Of the fact that every
serious pressure the country has ever soea
las commenced IL Wal. ST. Itisnow some
five nor 'bs since the current price Of
none, among ourselves has ranged from ten
to fifteen per cent per annum. And tbe e.
fectis. as We Think, Row becomir g somewhat
obvious among tie email rils Of which
TIE Journal then discoursed, and how
could !. be otherwise Iilisois sends %
market $4,000 PIC Of lead agaiost $4,000
il 1916. and she houses her grain for want
Of a market while New-Nof imports
probably foIt} millions OF pounds Of leal for
which she must pay IN gold, or bonds. Iii
uois needs iron, and can pay neither "a LEAD
norwheat, and Ohio closes herfuraaces whse
selling her wheat at fifty ceGt> bushol to
obtain god with which TO pay for IRON
Mississippi aud Alabama close the exlstiag
factories Of the Union, and dimiaish the DO
nestic consumption of cetton 70 the extent
100000 bales, when II should increase at
least BOG. OOn. and then they sell their oI0p
At thirty dollars a bale instead Of fifty, THAI
they may buy iron and cloth that they could
make by proper application ofthe labor now
wasted at home for want Of dlversIication
of employ ment.
sales of cotton are being made at New
Orleans. and bills are coming forward to
seine amount. but they produce To effect
on The market, for the demand Is great and
must so continue pending the existence Of
system which closes the mills, furnaces,
and mines of the country, and comPels US to
depend upon other countries for supplies Of
cloth ard iron. While Europe shall con-
tinue to take promises to pay. bearing inte-
rest. We NAV continue 70 hobble along but
il must now. we think, be obvious % allOur
readers that the day of settlement is ap-
preaching rapidly and that 1t behooves
them to be prepared for it. Llstyear can
not have added TO the debt Of the country
less than forty millions OF dollars yet the
the cotton crop of that produced at least
thirty millions of dollars more than will be
obtained for the present one, and all fhisre-
duction IS DIE to the fact ttattie consumption
ofthe country has been. and IS, rapidly dlml-
n,sling, notwithstanding the rapid increase
Of population. The people who can no
longer find employment in mining ore and
coal, making iron and cloth, cannot purchase
cloth, nor can farmers purchase cloth
or iron when compelled to house their
wheat for want Of a market for it, The
deficiency in the value of export Of the
cotton crop VIII require TO be made up, and
| all OF it must be made up, and when the
.ir.e el..lI a--I~e e. doing II, Inose who are
| indebted will find themselves In trouble. or
we greatly err.
Almost all the neighborhoods from which
issue the little rills" of which The Jour-
nal spoke, hare been engaged in issuing
bonds, which have gone to Europe, and
whether all of them viii continue to pay in
teTest regularly is a question that admits
of some difference Of opinion. That they
vii do 50 We greatly doubt nor less do
we doubt that a very small amount Of fall
ure III that respect will be followed by
very great return of bonds TO the country
for sale-or at least by cessation of
ability TO sell new ones, ard then the cry
viii be, rot only with the readers of The
Trl}une but those of our neighbors Of The
Journal, who now present such ilatterIng-
and ialse-statements OF the working Of
+ the Tariff of ls46-Stand FROM under