New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1852-11-01

m articles Of immediate usefulness which enter INTO
consu.Tton sliost rapidly az they can be 6roagnI
% -,arfet which leave 70 the profncer an sfeiiss
roff ard srnuiate renewed and enlarged producfion
n o.isr voris what distinguishes Ihis present pros
Dritv i the fact thst The existing surplus capsl "a.
thrown and Is throwing tself directly into industrial
production According to the late report q u, Leooi
GorDaT Inspector General Of Fsctories- there TOOK
Mace in l.5 20 increase in cotton factories alone eIus
fo37l7 horse power. His enumera.On Of factories IA
course OF construction Is almost eniiess Here sP4h
ming mill with 10 horse power there weaving shei
fr 6Do looms for coOred -OOi. another spinning 1c
,orv for 5000 epndles and 90 horse power another
Tor spinning and weaving with 30 another with J'J
orse newer etc Thelargest however i buildng near
BRADFORD York hire for the manufacture Of Alpaca
ard mixed goods. The magnitude Of this concern
which i erecting for Mr. Titus Salt may be inferred
from the fact that it il calculated TO cover II statute
scres Of ground. The principal building VIII BE r.
i've stone edifce Of considerable architectural prcten
fians having single room in II 80 feet long and the
machinery viii include the latest inventions Of &c
krowlei -ed merit The engines 20 move this immense
aass Of machinery making By NeSsrs Fiirbairn, OF
Manchester and they calculated 10 work 900 horse
power The gas works alone will be equal 10 those OF
smell town, md wll be erected upon Wni-es hydro
carbon syFiem. ~ a cot Of g4OD0 T. il cacuisted
that 5000 ghts viii lie required consuming 10000 cu
bic feet Of gss per diem In addition 70 s extensive
factory, NJ >nit j. building zoo cottages for ta- work
people IL IL immediate neghborhoOd"
What then, follows this enormous investment Of cap
isl for immediate industrial prOddct.ni Tha rhc crisis
viii not como, By means but on the contrrv, inst
n u ke lar more 4huLfTUAe III lTff
when Il more commercial snd monetary than intu-
frrl This time il will fall with it, heaviest wei yht upon
the manufacturing ds-rcts. Let the uncqualet s;a-a
ton Of l-S-s2 be recalled 20 mind, which. too,
di eci result Of industrial production The more
surplus cspts concentrates i,self in industrial prOduc
non instead Of dividing its stream amongst the mani.
fold channels Of speculation, the more extensive, TIE
mere lasting tn direct VII the crisis - unOn the
working masses and upon the very slhs Of the middle
clase And H. IN the moment OF revulsi0n. the whole
Overwhelming mass Of goods on the marke, already
take AZ the form Of numbering ballas, how much
more must this he the with these numerous enarg
ed or newly erected iactore just lar enough Ivan ID
70 begin work and FOR which It Il Of vital importance
to set o. work II every time when capital de
sorts rs hnbtual commercia channels OF circulation
ta deserticn creates panic which reaches even into
the psTlOr Of the Bank OF England, how much more 80
similar q'fi peE' III moment when an immense
amount hes thus been turned INTO liked capitol IN the
shape Of mile machinery ETC. which begin 10 work only
the outbreak of the crisis or which partially require
further Of circulating capital before they can be
rot into workable CONDITION.
take from The Friend Of india another f'-t signca-
tive Of the character OF the approaching cr-i From
statement Of the commerce o. CALCUTTA IN l-J2 tnerlh
contained Il results hat the value of cotton goods twist
and yam imported into Calcutta IN lr1l emounlei 70
eiG74OO0 or nearly twohlr,ls OF the whole taie. In
this year the whole amount Of these imports VIII Dc
larger stl The imports into Bombay, idras Singa-
pore arc not comprised herein Bu' the crisis oil
lsi7 us ven such revelations Of Indian trade that no
body can retain tho slightest doubt of the final results OF
an industrial prosperity in which the imports OF oar
Indian Empire count for two-thirds Of the whole.
So much a. 10 the character OF me state OF conyuo
property. i 20 this cOnvulsi0n vii come down IN
ls53 il prOgnostcsted by many symptoms, especially
the pe'hory of gold 40 tie Bank Of EnCllni and the
part. uor circumstances under which this large niuN
Of bullion take place
Al tL moment there are e2i $50 90 in built in the
vault If thc Bank OF England II has been attemptc
10 explain this influx by the surplus production OF soiI
H. Australia aud California simple giance az tact'
prove. the incoTre, tnc-s oi tins vicw
The increased quantity Of bullion IN The Bank d En
land rcpreseuts in reality nothing hut the dimnisneI
import Of other commodities in other words large
Gun lus OF exports imports. The last trade lis-
show, in fact, considerable decrease OF imports 10
hemp sugar tea iobacco wines wool grains. oiis, co.
Goa Hour indigo, hides, potatoes, bacon, pork, butter
cheese hams, lard ice, and almost all the m1nnac
iurcs OF the European continent and OF British la
There was an evident OyerlmpoTtaiion IN IeJJ an
Isl and Thu, well M the increased pace OF bread
siui's the Continent in consequence OF bad harvest
tends to keep down imports. Tho imports OF cotton
ard fax alone show al increase.
Tnis surplus Of exports nports cplnin' why the
rate of exchange il favorable for gland On III other
hand the balancing by gold Of this of exports
causes a large portion of British capital to liz ldie
and 10 70 increase the reserves OF the banks Inc
banks ns well NJ private individuals hunt ny every
means to invest this idle captal Hence the present
abundance Of lonsle capital and the low rate OF In
tcre,t First class paper al -. "a per cent Now,
you compare any history OF trade say IooSes Htsory
Of PTioS find that the coincidence o these synp-
toms unusual accumulation OF bullion IN the cellars OF
the BIk England. excess OF exports over imports,
favorable rGo OF exchange abundance Of loanable CAPT
tal and low Of interest regularly opens in the com
nicita cycle that ph,se whore prosperity passes into
exCitcm, nf where hand OycrtraGing IN imports,
the other, wild pccudtion in all sorts Of attractive
bubbles l. 10 be,iD Bat this stee OF excitement
itsclf l. ony the precurs0r Of the state Of CONFUSION.
Excitement Is the highest epsx Of prosperity II does
not produce tie cIiei-, but il prOyokes ito outbreak
knew very well that the official economical fortune
feiisrs If England viii consider this view exceedingly
hetcrodcx But when since Prosperity Robin
son the famous Chancellor OF the Exchequer who in
1925 ju-t beore the appearance OF the crsi' opened
PpIpmcl II with the prophecy OF immense and IN hake
able prosperiy-whon have these Bourgeois Optimsts
ever iorseen or predicted crisis There never was
single period OF property bur they prOhtcd by the
occasion 20 prove that his t'he the medal was without
q revere thai the memorable fate this time suDduo1
And the day. when the crisis broke out, they held
Themselves harmless by chasting trade and industry
with moral common place preaching against want Of
foresight ard caution
The poculor state Of poltc- created by this mom.n-
ary commercial and industrial prosperity. will form the
subject OF my next letter KARL MARX.