The Belmont chronicle, and farmers, mechanics and manufacturers advocate. [volume] (St. Clairsville, Ohio) 1848-1855, 1853-03-25
A GLANCE AHEAD.

The Seer, ,tary Of Tic Treasury is person
with whose talents as a iinancier and states
man the country is altogether uuacquaintcd,
vet there never was a time when this officer
should BE- more distinguished for ability and
Independent patriotism. We have no reason
20 question the present soundness Of our ma
tonal treasury; but when minister Of finance
is partizan, and is sustained by an over
Nhelminr party majority in Congress, his
nisd must be so prudently balanced between
oil the great industrial and monetary interests
Of the country, that he will neither betray
prosperous nation into spcndthrilt cXtrava-
pance nor crush one branch OF business in or
der TO foster another.
The tendency Of the Democratic party has
hitherto been against protection. 1t tolerated
he idea to a certain degree, by allowing dis
ordinations in a tariff Of revenue; but the
more recent impulse is towards free trade,
which we do not hesitate to pronounce one of
those theoretical beauties, but practical i'm
possibilities that have done 50 much harm TO
society. There can be no "rree trade" un-
less by universal consent among nations; but
that we imagine, will be impossible, espec-
ally in the older governments, where the al
tentative is direct taxation.
And what is this free trade policy, together
with the existing mode of valuation, doing for
US at present in the United States! 1t is
teaching commerce to avail itself, to the last
cent, OF the credit which is accorded TO our
merchants. The leading New York papers
show that the importations are enormous and
increasing. Great Britain exports $355,000,
600 in her manufactures, while we export
S25,OCO,OO0 in our home fubrics, and consume
&l7j coo ,OC0 in foreign, beside using $40
OOO 600, additional, in the free produce of the
Indies. Any one can see the result Of such
balance sheet. Exchanges are soon ex.
haustcd and the precious metals become, first
IN article Of trade instead Of circulation, and
are then drained by expectation. Let us ask
ourselves s0bcrly, whether we are not in dan
ger OF continuing a rccklcss system Of selfish
adventure, which swcls our commerce into
dropsy, while it tumpers with our agricuI.
ture, and entirely destroys our manufactures!
The great centre of this daring trade is, OF
course, New York. New York is thus be-
coming the satrap Of Great Britain aud parts
o. the Continent, but the other capitals are
becoming the satraps OF New York, by bond
Of debt for those mpOrtations which we ac.
uure from her on credit, and for which we
give our paper, or the discounts Of our banks.
And what is the financial condition Of New
York! If some of the clevcrcst Independent
papers are credible, it is by no means as COM
Portable as the Bank OF England. The gen
eral prosperity Of few past years, and the
enormous influx of gold from California, have
stimulated enterprise and speculation to wiId
excess. These are chiefly displayed in the
rise OF real estate, in the increase and cXpan-
sion OF banks, augmented mportatons, stock
gambling, and unparalleled domestic cXtrava-
gnncc.
Al such moment, we repeat, firm ind
expert linancier il greatly needed in the Ma
tional Treasury, which, oftentimcs, is able to
exert u considerable influence by its control
of vast amounts of specie. AS long as the
naliun is uncmbarras>cd, however, we fear
our government will be careless in develop
ing all the industrial pursuits which have tend
ed so much to consolidate the wealth of Eng
land When We are once touchedby disaster.
and forced to hoard our resources or to con-
trve measures Of relief, We shall be less liza
bic to the sway Of great states and more alive
to the independent prosperity of small ones
Baltimore American.