New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1853-10-25
TIE FRUITS OF FREE TRADE.

We published on Saturday the concluding article OF
series intended to explain to readers the facts
qured for correct understanding Of the causes Of the
present state Of monetary alairs preliminary TO the
inquiry how remedy may be applied. In so doing,
il was necessary TO show that, while the prices OF
manufacture cles generally tended downward under
the tariff Of 1912, and continued mil Dc tay.g u
lsiG destroyed domestic eonPai''oa nth foreign MANI
dcers the tendency is now and has for several years
been. upward. and that our people are ROW paying
more Tor The commodities they consume than they did
under protection Lead, which sold in 1856 for
three and abaf cents now sells for seven end been
much higher. Cotton cloth, wooden cloth, and all
descriptions Of dry goods, have tended upward
since the policy Of the country has looked in the
direction OF Increasing our dependence the British
manufacturer. Iron, which sold at ca l0i long
low prices were needed for the destruction Of the Amer
lean furnace master TO 90 soon after he hadbcen
DESTROYED Our people are thus as ii was shown be-
ing taxed for the support Of foreigners who have par
chased bonds with the proceeds OF their taxes AMI the
greater their taxation the greater necessity for going
into debt The facts thus offered to our readers were
patent 10 the world Our neighbOr Of The journal Of
Commerce could not deny their existence could he
question the correctness of our deductions thereirom
and therefore lie permitted them to pass unnoticed
An honest man. placed in this situation, would have
doubted the correctness Of continuing to advocate
system productive OF such effects but honesty is vr-
tue with the possession Of which The Journal Of Com.
,erce hes never, TO our knowledge been charged.
Having shown the state of things existing the ques
ton naturally arose what were the prospects Of the
coming season and in estimating them il became
cessary TO look the probable price Of cotton, with
view 10 determine how far that staple was likely to
take the place OF bonds that could longer be sold.
In doing this we looked naturally to The gorerHiHg
narkd The object of British free trade il that of Sc
curing the people of England the power 10 control
the price Of all the products they buy and Of all
the manufactured ones they sell and as the first OBJ
ect with Tic journal cf Commerce is that Of aiding the
people Manchester in obtaining that power it was the
last OF all our coemporaries from which we should have
expected an oh ecton to the course we thus pursued
Had we spoken Of decline in any Of the smaller
Lets-Rassia Spain, Belgium. Lowell or Providence
il would have said Look 10 he gorerRHg marstt.
Il prices are high in Manchester they must be high
everywhere If the demand for goods be large in
China India and Australia slight decline al home or
in Russia is OF no importance 1t is, as they would
have added, absurd 10 talk Of low prices for the
crop as a consequence Of small demand in Russia or
in Providence, as il would be for Cincinnati editor
to predict low prices for pork because Of small de-
'mand in Carolina, while prices are high in New
York In all this they would have been perfectly
right Ii is to Manchester we must look when We
talk of cotton The Manchester men are masters Of
the fortunes Of cotton-growers.
At the moment of writing had before us the circu
lar Of leading Manchester house. then recently re-
ceiyed, OF which the following is sn extract:
"A variety Of causes have TINS far tended to check that
reduction in stocks, sad there think tia. they
viii ouerste for some time 10 These causes are
chiefly l. The reduced consumption Of American cot
ton caused by the strikes the general limitation Of
the hours of working 10 ten hours per day-and the IN
settled feeling ofthe operstves. and greater uuwngness
10 work as steadily Observation-Disclosures which, | have
been informed By highly respectable spinner thai the
production Of his MIL has been reduced from $4,000 lbs
SRrn per week 20 less than $4,000 of the numbers
This NAV be than the usual reduction but the any
changes spinning finer numbers have also largely
affected the consumption than balancing the increase
in mill power. So marked effect have these causes
recently produced that the average Of the weekly deliveries
10 the trade since The CONNIE Of the year has been
reduced TO 900 bales against 30 500 the same iae last
year 2 The depression caused BY the still unsettled DO
s.On Of the Eastern question. g. The gutted state Of tie
Indian market for Manchester goods The increased
abundance and oheGpnoss OF the East India cotton which
will probably continue through the year the revolution
in China win divert supplies 10 this country which usually
and their way hilhes by The same cause the % rs0as