New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1853-10-18

crop w Weld far les than did that OF last year and the
scarcity Of food il Europe must tend inevitably ID re-
duoou Of the prices OF tobacco Oar means Of purchase
tre thus declining and yet purchases are daily in
creasire with an absolute certainty that continuance
il that direction VII end in CONFUSION that must in
great degree cut of The sources from which tie treas
ny is now supplied In this state Of things it ia,
when public and private revenues are dependent upon
tie hazard ofthe die that sproposed reduce the du-
ties and increase dependence foreign manufac-
turers, with view 10 dellete the treasury likely
soon to be depleted without the secrearys aid Every
movement in that direction tend inevitably u d.
iYish confidence abroad and at home and TO hasten
tie arrival Of tie CONFUSION that il certain TO come
under the present system THAT is melted ercryciere
is oonfdtnco ia the future Let rs have that and furnaces
and mills will b. built Build furnaces and prove that the
amount Of bonds is not to be increased, and they rH
ogoa be sought for Europe. Il is therefore TO the
interest Of all-holders OF city lots-bulders of
roads ard spectators in bonds, as well as ship
ers and manufacturers, that we should adopt sys
TEN that viii depete the treasury by gradually lessen
ing the amount going into it. 1t viii be said that this
is slow process but that is s great recommendation.
Wien railway train il in full motion and suddenly
arrested the stoppage not only crushes engine and
cars but it destroys life When, on the contrary the
brake is skillfuly applied it is brought 10 stand
stll without injury to property or lfe We need the
brake and that is what would result from the adoption
Of a policy that would tend to make our revenue
s. stan stable and to revive confidence. now so
rapidly disappearing. Rapid movements are never
safe ones In SO we distributed suddenly large
surplus and ruin was the result, and such would be
row the case Place the twentyeight millions now in
the treasury at the command Of Wallst. and stocks
would at rise much as TO cause the return OF
large Quantities from abroad and thus would be crea
ted demand for gold thatwOull in short time sweep
of nearly all that is held in the subtreasures here AMI
elsewhere-and the only effect of the operation would
be that tie Government would then be as dependent
upon the casualties of the moment now the spec
ulators in railroad bonds. No Tie surplus has ac
cumulated so gradually that rs effects have been al
most unfelt Let its distribution be equally gradual
that it also may be unfelt The skilfGl engineer
who desires to empty dam. does not commence by
breaking down the walls but by making small hole
through which the water may gradually pass away
Let adopt any other course. aud we shall only
hasten the arrival of such revulson as that we wit
messed few years since.
At the date of the adoption of our present system
We were told that it was to give the nation higher
stand among the communities of the earth but the ten
lency to failure, in this respect, seems to be even
greater than in regard TO prices, which were to be
lowered and yet are almost, if not quite, all higher
han they were under the tariff of 1542. We know
we'll that the man who is in debt lies always at the
mercy of his creditors and that if he could place him
elf in a situation to exercise influence over the
ments Of others, be must first place himself in posi-
ion to enable him to act freely and independently in
gard to his and certainly tendencies not
low in that direction. While consuming less per head,
)f the commodities required for the convenience and
comfort OF the people, have been and pilng up
heap OF Indebtedness, requiring for the pay
nent OF interest alone, more than twenty, and per-
laps twenty five millions per than
he whole export to Europe from the States north of
Mason and Dixon's line. The existence of this debt
1laces the country al the mercy Of capitalists abroad
md in case Of the occurrence of any circumstances
enderng Necessary preparation for war, the gov
Inment would find itself paralyzed, because such oc-
urrcnces would be 10 be followed by the transfer
erc, for ale, of large quantities Of our bonds and
over to pay for foreign merchandise would be so
argcly diminished that the revenue would fall below
he ordinary peace demand. II is right in time
# peace to prepare for war. and it is worthy of
he consideration of the Secretary whether that
ourse should not now be followed, not by the
reatiOG of fleets and armies, but by strengthen
ne the condition Of the country as to enable it at
IL times to prove to the world that while anxious for
eacc it is always ready for war in support of its
lights or in defence Of its interests The larger the
oreign debt the weaker must be the nation. and the
ess must it be capable of selfdefense Weakness in
ties aggression, aud it may be feared that such will be
be result of policy under which foreigners are hour
y acquiring greater control over our movements
treat power and heavy indebtedness cannot co
xist in either individuals or nations. If our readers
oubt this, let them look back to the low con-
tiCn of this country in 1872 when We were begging
or loans throughout Europe. But few years pre-
iOusly We had presented to the world the extraord
lary spectacle Of treasury overlooking with rev
niue that we were compelled to divide its contents
mong the States. and yet it proved 10 be only the
precursor of bankrupt treasury We now in the
ame situation, having great surplus, and whether
t is to be followed by individual and national
.ankup.cy thus completing the parallel between
lie first and second cycles will depend much
lpon the Secretary Of the treasury-aBd upon his
lcton in the before him, viii depend the de-
ision at the close OF lis administration whether be is
% be ranked among statesmen or among mere party
politicians as is now the author of the tariff of 1916.
From ISIS to 1912 was period of fourteen years
turing which the country passed from protection
through British free trade to protection. A similar
period from l-42 viii bring 1556 and if we may
Judge from present appearances the country will BY
IL DlD.o tl.a - ..-i-L:n ..-.-l