New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1852-07-22
diminished the demand for labor. and on,
people have been and are being driven In n.

people have been and are being driven to u.
West to seek employment in raising food.
while we buy our cloth and our non, our
copper and our lead, our hempan our wool
from foreign countries that take from as bvt
little food, and are likely in future to TAXA
even less. Capital unemployed accumulstes
in the hands of banks and bankers, to be bv
them loaned out to aid in fostering specu.
lation and raising prices. We are now Wit.
messing the natural results Of such a sv,-
tenn; and now it is that our British Fire..
Trade friend of The Union, The Republican.
ard The Economist, raises his warning voc.
to caution his readers against the dsus,r,
of an excitement that he has so loag bes,
laborirg to produce. AS well might III.
keeper of a GROCERY on the Five Poinu
caution his customers against the danger.
of intemperance after he had administered
to each and to all of them liquor enough
to render them incapable Of compre.
bending what he said. The cau,io,
comes too late. He and his friends Of
Manchester and Birmingham have set the
ball in motion, and it will continue to
roll until it shall involve the people
of this City. this State and this Union, in
a scene of ruin similar 10 that which fol-
lowed the last British Free Trade excite
ment, some few years since. Its authors
will then have the gratifying reflection that
to their devotion to the interests of their
masters of Birmingham end Manchester
has been due the destruction of the hopes
and the happiness Of hundreds of thousands
of their fellow citizens, and the rene wed
degradation of their country in the estima-
ton of the world. To them it will then be
consoling to reflect upon the false tables fur
nisbed through the medium of The Journal
of Commerce and The Union, with viewto
prove that the nation was steadily advancing
in prosperity when every day brought with
it evidences of decline in the condition
of the people, manifested by diminishing
power to purchase cloth, iron, lead, and
the thousand other commodities required
for the convenience aud comfort of man.
1t will, we doubt not, be agreeable then to
reflect upon the people whose mills and
furnaces have been closed by the sheriff.
and whose wives and children have been
thrown on the world for support, and to
feel that the false tables they had pub
Iished were largely instrumental in the pro-
duction of so much poverty and wretch
edness. We are disposed to wish them
joy of the future they are thus preparing
for themselves, and that will inevitably
come if we are to continue much longer
subject to the beautiful system of British
free trade.
1t may be, seeing the amount of mis-
cief already done, and the greater amount
that is in prospect, that they may deeiro to
know if aremcdy cannot be devised. There
is such a remedy, easy of application, and
pleasant to the taste. Make demand for
capital that will enable the owners of the
fifty millions of deposits now lying in the
Banks of this City to obtain interest for
them, and thus deprive the Banks Of the
power to foster a speculation that is carry
ing US on the road to ruin. Reenact
the Tariff Of 1912. Protect the Ameri-
can laborer in his efforts to obtain
the aid of capital, as he was protect.
ed in the years from 1912 to 1916,
when Manchester and Birmingham had
ceased TO control the whole movements oil
the nation. That done, cotton and wooden
mills will be built, and furnaces will be
built, and rolling mills will be built, and
mines will be opened, and labor will be ia
demand; and then capitalists will find no
difficulty in obtaining seven per cent. while
mechanics will cease to be compelled to
pay double or treble interest because of the
general feeling of insecurity as regards the
continuation Of even the present state Of
things. Give us an efficient tariff, and
confidence will at once be restored. Give
US such tariff, and the people of Illinois.
Indiana and Wisconsin will find demand
for their food in the lead and copper and
iron mines of the West and North West,
and will cease to be compelled to send
their wheat to this market TO the injuryo
the farmers of New Y Ork and New-Jesey,
Pennsylvania and Ohio, and then they will
all be better customers to our merchants.
for they will all have more to sell and will
obtain better prices for all they sell. Give
as such tariff, and the people of the West