New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1853-11-30

As production of ISIS has largely surpassed that
Of lS.S2 rrore materials were wanted, imported,
Ard worked up TAe Economist however. does not pre-
tend that the surplus of manufactures producedn 1888
hss entered tie home consumption. He puts il 10 the
account Of experts. " The most important fact is the
enormous Increase in exports. The increase upon
~the single months ending the luth October Is no less
than fl 446.7CS completing an aggregate increased
El2596. egI the amount being &66,9S7 ,729 in the
rreseut year against E5l9I ABS in the correspond
ipx year of ls52 Taking only our exports
of British produce the increase is no less than % per
g. cent IN the year
Bur BOW does ii stand with these additional Gl2,-
596s9l a large portion of these exports are only
"on the way 20 their ultimate markets, where they
viii arrive lust at the proper moment 70 completely
undo them A considerable part of the increase IS
- 10 Australia" which is elutted; to the United
States which are oyerdOne; " to India, which is
depressed: 10 South America" which is altogether
unable 10 absorb the over imports repealed from the
other markets.
TIE enormous increase of articles imported anil
consumed ia already paid by this country, or the bills
thrown for them are running and viii be paid in q
"very short period Hhea shall we be paid
"for the exports In six months nine months, twelve
"months, and for some in eighteen months or two
years time" II is but question of time" says
Tie Economist. What an error
Ii Won throw this enormous surplus OF manufactures
upon markets already inundated by your exports the
the time yen wait for may nerer arrive What ap-
pears in your tables as an enormous list OF imaginary
wealth, may turn out an enormous list OF real l0ssesa
list of BANKRUPTCIES on worldwide scale. What then
do table No III and the boosted figures OF exports
provei What all of long since aware OF, that
The industrial production of Great Britain has enor
mousy increased in 1853 that it has overhot the mark
and that its movement of expansion is becoming acce
Grated at the very moment when markets are contract
ing.
The Economist arrives Of course, at opposite re-
suit. The pressure on the Money Market, and the
"re in the rate ointerest he tells u.s. "are but the
"transitoy consequence of the large imports being i'm
medately paid, whle'the enormOussurplus OF exports
"is advanced on credit" In his eyes, then, the tight
ness OF the Money Market isbut the result of the adj
ditonsl amount of exports But we may as justly say
that these latter months the increase OF exports has
been but the necessary result Of the pressure the
Money Market. That pressure attended BY an in
fux Of bullion and adverse exchange--but is an adj
exchange not premium on bills drawn on for
eign countries, or in other words, premium on ex-
pOratiOn Ii is precisely by virtue OF this law that
England in times Of pressure on her own Money Mar
ket deranges all the other markets of the world and
periodically destroys the industry of foreign countries,
BY mbardiDg them with British manufactures at re-
duced prices.
The Eeonomis, has now found out the two points
in which the wOrkingmen are decidedly wrong, deci-
dedly bameable and foolish In the first place they
care at ISSUE in most cases. the merest fraction OF
"a coin" Why is this Let The Economist answer
himself: THE dispute has been changed from being
question Of contract to being struggle for power
business but have submitted to the dctaton of ire
"sponsble, if not selfstyled leaders. They have
acted in combination, and through body of insolent
"clubs We do not fear the political opinions of
the working classes Themselves but we do fear and
"deprecate those of the whom they allow to prey
"upOn them and speak for them.
To the cassorganizaton of their masters the opera
tives have responded by caSs-organzatOn OF their
own; and The Economist tells them that he viii dis
continue "to fear them, if they dismiss their generals
and their officers and resolve TO fight singc-handed
Thus the mouth pieces of the allied despots of the
north assured the world again and again. during the
period of the first struggles of the French revolution
that they did mot fear the French people ITSELF but
only the political opinions and the political actions OF
the savage Coma{ da Salt Pubic, the insOlent clubs,
and the troublesome generals.
In mylast letter | told The Economist that IL was
not TO be wondered if the working classes had not
used the period of prosperity 10 educate their children
and themselves am now enabled 10 forward you the
following statement, the and particulars of
which have been given me- and about to be sent to
Parliament: In the last week of September, 1852, in
the township of - four miles From -, at
bleaching and finishing establishment called -, be-
longing TO - ESP, the aforementioned parties
attended their work srty hours consecgtiyely with the
exception of three hours for rest
SsH: Ase.l CHI. Ass
II.
A. ACKNOWLEDGEMENTS NJ L....................5
b B.............'.'r'