New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1852-05-22
THE DANGER AHEAD.

Ihe Ledger OF PhlladelPhla Is among the
most constant and INSCRIPTIONS advocates
of that sort of free trade which tends to
confer on Great Britain monopoly Of the
manufactures and commerce of the world.
And yet it shrinks from the natural conse-
quences of its own policy. Ia helps estab-
lish system which must bear certain fruits,
but when these fruits begi to appear 1t raises
the cry of alarm. Thus it sees danger in
the vast schemes to build railroads on credit,
now so current in the country. 1t is
frightened at the millions on millions we
are trying to borrow for this purpose, and
day after day it seeks to arrest the tide of
debt swelling up against us. The follow
ing extract is a specimen of its efforts in
this line:
Artificial means of communication are profitable
when they do not too far ahead CT the business
which Ii, are Intended TO facilitate. II whole conmu-
mites stop producing Cotton Corn Sugar Flour,
10 engage Hklng railroads. the roads complexion
expect To wal. business until tue necess ny soor
expended produce esnpioy for Them In
sections of the country netting OF this kind has al
ready occurred Tennessee, and perhaps one or two
other States, winch usually export produce largely
have for the las year or -1een months beea buyers
from their more Eastern Ieighbors O. the produce
necessary feed the thousands engaged in railroad
making This kind OF enterprise Is not profitable, and
will eventually bring serious consequences. Il
very similar condition of things In 1923 and T. that
contributed 10 aggravse the mney pressure that io
lowed in 1878 and 10 PenDsy lvana and many other
States then railroad mad and seemed TO think the
cost Of the various Improvement projects settled and
paid for when the loans necessary for their completion
had been negotiated. The day OF reckoning, how
I. ia a TOO,
as Is usually the case, when money was scarce and
scarce for the very that the labor Of the country
had not been devoted 10 money-earuing pursuits.
THE fruit and vegetable producers about city who
should occupy all the time of their laborers ia making
hask,ts TO carry produce 10 market having al the end
of the stason from uitdirectOn OF their labor pro-
duce with which 10 an their baskets, would be in very
similar CONDITION with those communities who years
ago. made railroads 10 the neglect of the kind OF labor
necessary to give them employment when made. Art
Metal openings rom the Atlantic seabOard the Valley
of the Mss sipp sary for the mnOdafi1n
If the great trade carried between the sections
but whether the rivalry Of four five different cities
IN the construction OF az many different stipendous
works l. not OVERRIDING the mstef Is question that
merits serious consideration. That they viii all, ud
matly pay the country and It's trade grows have
DO doubt but il Is not that they will all pay
once"
This is sound doctrine, and none the less
so, because it IS not consistent with the
usual teachings of the paper that puts it
forth. Debt, speculation and the final
crash of bankruptcy, are the sure products
of that policy which destroys our own in
dustry, and takes the control of our
markets from ourselves TO give it to Eng
land. Circumstances may protract. but
cannot prevent the final accomplishment of
the process. But for the discovery of Cali
fornia's gold, it would have been upon US
ere now. And it were folly to suppose
that the evil of which the above extract
details one of the grapder symptoms. can
be forever repelled, even by the help of
those marvellous mines.
The tendency of the tariff of 1912 was
to put the farmer and artisan, the producer
and consumer side by side. Is effect was
that of building up steady market in every
community, so that the producer and con-
sumner could reach each other with the
shortest possible distance and expense Of
transportation. Then the growth of the
country was Of the most healthy kind. The
population was concentrated and tended 10
become more so. The people, sure of
return for their efforts, devoted themselves
to productive occupations which were con-
stantly increasing in variety aud profit.
The expansion of the country consisted in
the improvement of the circumstances of
its inhabitants. Having market at their
own DOORS and that continually improv-
ing market, they constructed such railroads