New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1854-12-08

or psutsoous
There is. therefore, daily and hourly decline
IN The purchase Of clothing aud this effect Is De-
ing experienced not only in this country aud hos'
laid but IN Canada, ia India. and all other OF che
free trade countries Of the world. Inc eHec''
there PRODUCED mus. necessarily operate TO a con-
siderable .xt,nt upon Germany, Frsoce, aud
Belgium. producing diminutlon in their aoiI'
iry 10 employ labor and timihu'ion IN che aou'ty
Of the labor,r to purchase cloth, while the crop
OF the ert material Of clothing islkey, as We are
told. TO be eater than Las ever Jet beer kuo~n.
Under such circumstances, it is no matter for
sunrise that each successive steamer should
bripy a6yices that the market is dull and dfooP-
inc: nor need We be surprised, if, before The
clo.e Of the season, the price be lower than any
we ever Yet have seen. Reduction in the price
OF this important article Of export will of course,
produce Increased necessity for exporting gold to
make up the deficiency thereby produced, and
with every such increase there must be an in'
creased strpgeDcy in the money mTket-ln-
creased demand on the West and South for
money. with increased failures OF banks aud d.
miDisbed power on the part Of farmers and plant
ers to bold their crops, with corresponding dul
rutoD in the consumption of cotton goods Of every
hind. Thus everything tends, so far as we eau
see, to oggravate the financial distress of
which our South Carolina friends now 50 much
complain, and Of which they themselves are the
cause Had they permitted the tariff Of 1912 to
remain in existence, our domestic consumption
would now exceed million of bales, aud the
quantity for which foreign market would be re-
auired, would be less by 400 900 bales than tnow
u.s. while the powe to retain the gold yielded by
California would be producing its effect in caus-
ing the making of roads aud the building of mills
and furnaces in every part of the country with
st.a tendency TO increase instead Of de crease,
in the domestic consumption, and corresponding
tendency toward diminuton Of dependence upon
foreign markets, over whose movements we can
exercise no control.
The world presents, as we think, no case so re-
MARI able as that now presented by our southern
Statts-hOI6ipg, as they do, almost q monopoly of
the supply of one of the most important com
mod,tles il the world, and yet subjected to the
seytrest financial distress" rhensrer they are
permitted 10 direct the polio, ofthe Union. This is
so simply because they will n'ist upon continuiog
their dependence on one great market controlled
by other, instt ad of making a market to be con-
trol'ed by themselves. They 90 on, year after
year, singing the song Of free trade, and sending
nearly all their crop through single channel, at
The end of which stand the + lglish manufacturers,
who take it at prices Arrays fr,d By themselves
and the lower the prices the louder is the free
trsde chorus among the men who thus enrich
themselves at the cost Of the planters. The lat
ter desire that cotton may be high, aud that it
may be SO they ssg free trade. The former
de,ire that it may be low, and that it
may be so they sing free trade, and carefully
caution the planter agsinst permitting the
growth Of domestic competition for the purchase
of cotton or the sale of cloth. TIE consequence
is that the latter gives much cotton for Little
cloth, and then exports all the god he can find to
help to settle the balance Of trade; after which
his banks stop payment or in the effort to avoid
bankruptcy, produce the financial distress "
here complained Of; and then the planters relieve
themselves by holding meetings for the glorifca-
ton Of free trade, and for passing resolutions
that it is eJpedient and proper to adopt such
regulations as will place them under the con.
troll of Charleston and Savannah instead Of
New-York and Boston. The whole course Of
the South is inconsistent, and will continue so to
be so long as the policy of the nation shall con-
time to look toward having but one place in
which to sell the raw material produced by our
farmers and planters, and one in which to buy
the cloth and iron required for our consunp-
ton, selling the former so low and buying the
latter so high as to require not only sll the gold
Of California, but ell the bonds and stocks th at
We can create to settle the adverse balance of
trade