New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1854-12-19
A LETTER FROM BOSTON,

Correspondence Of The N. Y. Tribune.
BosTos, Thursday, Dec. IA, 1884.
The mopey-pre sure, which has brou2h. low so ne
of the highest heads, and very much frightened
great many lower Ones is evidently relaxing its gripe.
As general t,ing, the secondary strata or tier OF
business men has A. yet felt very little Inconvenience.
In form or times, amonoiary panic affected mcrc1 ants
and business men very nearly in proportion to their
peounisry obg cations but in later yeus, has come
practically TO this: that when speak Of money
sure we ncao tina. spectators, ovortraders and
brokers in stocks, are short Of means wherewth to
carry on their operations. The newspapers may
quote money at y cent month; the denizens Of
Stotest may be in state of curb-stooe excitement,
which could scarcely be equsled were a Gordon of
battle ships sending shells into toe cit, from the outer
bnrbor; and yet the great mass OF substantial traders
spd business men may be IN the condition Of Nick
Biddle when Gen. jackson laundering his .nsthe-
mas at the L. : BnDk-that is: "caln as a summers
"morniDg." For all the legitimate purposes of TT .iic
and commerce, money is sufficiently abundant The
Banks OF this city show an aggregate deposit OF III or
s12 600 900, which could hardly be the cas5 were
money as scarce as the monetary articles of the
prtf would -eem TO indicate.
The case Of Blods EFT q Co., which is called the
Largest failure that occurred In Boston, shows
that Tie firm went entirely beyond its depth, and of
course, liable, at any moment, 10 be brought up
with round turn" The assets, good bad and n-
business any man, any firm, to contr .ct debts
TO the amount Ct So 900 000 with only nominal cap.
ital that is reckoning the whole profit account, and
making allowance for depIe citation of stock Of
rome s2oO 600! There is nothing in such failure
which ought TO frighen The solid men of Boston" a
mon cit from their propriety.
Ii is the opinion of sound financial men that Bos.
ton has contributed liue nothing, intrinsic ally,
toward the existing pressure. In other words,
Boston has psid her way, and purchased 10 more
than the results Of her Industry could pay for. Hold
ing in her hard the control Of the heaviest manufac-
turing interests Of the country-suIplyiDg with her
capital half lis looms and workshops she has con-
tribute to proc Ucton far bey ODd her ccnsump-
ton, and that of those dependent upon her. As
matt, Of course, She has made money enough for her
own USE and had she lot been ,led upon to assist
in paying the debt which New.York has created in
her wild of Importation money would be a. easy
now in State st., at any time these five years.
New. York has imported far beyond her ability to
pay and che comes to Boston for money to meet her
engage ments. OF course she offers such prices
our capitalists cannot afford TO refuse, and the fiat
ing current of FUNDS tends TO New York. Those
Specializing firms which depend on borrowing, and
are not fortified behind their proper resources
find themselves suddenly in tight place. Bat the
number Of these is found 10 be cOmpar iiively small
New-York is paying the penaly of the false aud mis-
ctevous doctrine that il is better TO purchase than
produce; and Boston is assisting her to pay it.
Political matters. in this State, as you aware,
are stoI ely at sixes and seveps. The recent nunic
pal elections have in the main confirmed the ascend
epcy Of the Native American party; yet there are
one or two exceptions which go TO show that that
party must be true 10 lis professions or fall az sui
denly IS it rose Thus in the neignboring City Of
CbarlestoWn, its leaders undertook 70 make in issue
entirely ouside of the proe-set objects of the psrty
They ncertook to make Known thingiam subservi-
ent TO the defeat Of Anne xaton," aud were them
selves defeated by good round four hundred .jor-
ity. In their calamity they get no sy mp shy from
their brethren of the neighboring cities and to WIS
who, Oh the contrary, rejoice in their overthros
Something of the same game was played at Newbury-
! port, and with similar results.
AS to the election in our city, the result has sur
priced no one The Wings, i, is true, exhibited more
have been expected under the depressing results of
the recent State election II was not however, go
much rally in favor Of Wbggery as q demonstrs-
ton Of hatred toward the old Mayor. A few of the
/ Free Soil Know Nothings voted against Mr. Smith
ON account of hs conduct in the Burns CASE bat as
a general thing, they voted the American" ticket
| There are good many Offices TO be distributed by
the incoming State Govern ment, and lea in. Free
Sellers of this city are ''up for about three 1uar-
tiers OF them. Had they bOlted the Kno y. Nothin,
ticket in the municipal election in obedience to the
recommendation OF TIER org an, TIE Telegraph, their
claim for share il the STATE spois would have been
at once ignored. With fes exceptions therefore
they went all they knew end little more, 70 se.
cure the reelection of Smith
By tie way. The rRIrryE in speaking of the
election, seys thot Upton aud Adams the Wig and
! Dtmoci stic opponents Of Mayor Smith, are both
known as practical opponents of Slavery extern
sion This Is a mistake so far rs concerns he
and manufacturer of the iar-famed Adanss printing.
prtss, tbOus 10 most respects a very Worthy gentle
man, is q Democrat Of The Boston Pcs, clique aoi.
of course, in favor of every hing which a Demo.
cratic President recommends lie would vote 10
favor Of leestablishiDg Slavery in Mas achusetts TO-
morrow, if Gen Pierce should issue order, 10 that
effect 10 tie i4itlful. His vote of shout 100 a th,
city may be considered fair index Of the strength Of
TIE Netroka psriy, with the exception # about 100
votes IN Ward MI iShere Sir. re.ijesl which
were gwen him or account OF personal consilera-
ticns.
There goOi deal Of Underground sps nj alton ~
10 me orfahizsiic Of the incoming X y I.yi-l,.
tnTe Although every thing ksp; as secret IS oo..
sbie II Is wei understood bs, tue ne Dolitic ;, ti.
peLsailop Las bot ereicaed the si.e f,r of "a If
the clothes hne telegraph tells the ruth the nun
Der o. Offices 10 &c flied bssrs mt If cfi,ps or,o,-
ton 10 those who sxpect 20 ill them Toe nenbsr.
OF both branches ~ the Legislature are m s.Iv -
men IN hat capacity and some apprehension. ars ~
pressed 20 their ability 70 orraiize =, - ~ CRY
ioIwWd a ssf Ct ana eff eieu, copSe Of ls,i.i
ton There Is probsby no t'u- grognd f,r fucb >,
Irobension. The reN Lsgisistura sul embrace a,
lo6si sversge share e talent, sd n l. r.lv
understood viii make bold push T'r popularity hy
thectug what las not been accomplished 10 M.,.;.
ohussiis ol grea. many yeafs, namely, short ses