New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1853-10-27

ceiyinr some Fifty Millions annually Of Gold from Cal
;.ris which i worth Just much equal value in
Grain Neat and Cotton Itpays debts these would
.,5ifUedi- Fifty Millions OF Gold soil per
.,ruro We can afford TO import several Million. worth
No., Good, than we could have safely done prior to our
,cau,ition OF California
sill the fsct remains that we are deeply and gener
III, .,,t.-rsssed-and Why When Dick Dashall and
San sbtless and jim Booty are dOgged by the Sheriff
.dn DANGER losing the very roofs the heads OF
,enles although the cause their eyes is involved
IN deem mystery or ained By the churl.h ulreason
.lle refusal Of Old Hunks 10 loan or TO give
further tine on an overdue mortgage By the .hortaess
Of crop or the loss of an animal the neighbour. all
saw Dsshall was spending FIVE thousand year keep
ing racers and pointers on an income Of two thousand
and Was morally certain TO under 1t was only
Sc ouestiop Of time Shiftless on; the seat Of his
apantsloons On the the barrelheads of convenient
grocery when be should have been wedding his corn,
Sc and had large storebll running up each year with
nothing TO spare from his farm to pay it with of
" course. his case was q clear one And as TO Booty,
what has lie done but get drunk for the last i've
YEAR, How coHld he have escaped bankruptcy with
Sc out uendng bis ways The whole thing ia plain to
all but those who most needed TO understand it.
For tie last FIVE years. we have had a controversy
with the propbesiers Of smooth things the bect OF
our National Policy and its results They have exuted
over the amplitude Of our Revenue the activity of our
Commerce the growth of oar Cities and the general
prosperity of our People We have admitted all that
they claimed 30 far, but insisted that there was
DARK side to the picure-a page skipped on the debit
side of the ledger-a running account to be setted-a
large and growing accumulation Of Foreign Debt to be
confronted. But they have stOutly denied this and
maintained in the face Of regiments Of nanciers
from the author Of the Tariff Of 46 downward cooling
their heels in Il Hobbies of European bankinghOuses
flat IRE vere not running "a deh abroad Why our
borrowers were 20 continually crossing the ocean in
quest Of lenders while 10 Foreign borrowers come
here on like erranl they have never succeeded in
explaining but tley did not the less stubbo-nly insist
that We were not running in debt
Well there is short crop in Europe, and pros
pect of war and advance in the rate of interest
none Of them appalling to u.s. if we were only out OF
debt as nation and paying as we go. But We have
for FIVE six years been running deeper and deeper IN
debt until our creditors either cannot or dare not trust
us longer and we beginning to realize the conse-
quences Our Cotton still bears good price tobac-
co is high Wheat Corn and Meats paying the far
mer generously; our Gold continues TO flow in and
stl we are in trouble and in danger of seeing yet
harder times We fervcnty trust that the lesson al
ready received may suffice but ii we are 10 go on
importing European Metals and Fabrics as Profusey as
we have done for tie last two three years there is
no escape from widespread bankruptcy.
With more and better Iron Coal, Lead, Copper
and Zinc than any other civilized nation, We are
buying these metals abroad to the value of at least
twenty Millions a year. With millions of acres of
pasture lands unused, we are clothing ourselves, in
foreign cloths made from foreign wool SO with silks
wines &C. of which we import more per head than
any other people on EARTH though we either ought to
produce these articles las we readily might or 90
without them.
They say we are to have the Tariff revised the
coming Session. as it certainly should be. Shall il be
so changed as To impel still pr0fase mportatons
still further and wider resort 10 foreign countries for
the metals wares and fabrics thar nigh; and should
produce at home DO We wish TO prOtract and in
crease the pressure that is now and to many
so DISASTROUS so, we have only to reduce our duties
on iron, wooens, wines &c, and SO enlarge the
amount Of imports For every Million Dollars worth
additional that we import there is call for another
Million ofSpece to go abroad; and every extra Million
of Specie that GOES abroad involve currency contrac-
ton Of Two 10 -Four Millions at home. Let party
names be forgotten and common sense be regarded and
the Tariff Revision of 1851 will replace the high
road TO ease in the Money market with solid and lasting
prosperity.