New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1854-06-03

circuiates freely, and coin is rarely demanded or
needed.
Will the present high prices continue
In So far as they are based the increased ehcen-
cy of human labor. they will, of course IL Is NOT
likely that the implements of Industry VIII ever
be ruder or less effective than they now are va the
cortrary il highly probable that Invention and In
proyement will reterate their successes, until one
mans labor will produce much that OF two now
does Just as one mans produces ms much as shat
Of two did some wears ago. On this head therefore
there is no prospect of general reduction OF prices
Nor do We think il probable that collapse Will re-
suit from the exhaustion Of the Gold Mines. Calitor-
MIA nav gradually cease TO produce the shining dust
we hope for her sake that she may. Australia may
follow. though probably at late period bat the i'm
pulse they have given will not be arrested. Al
ready Southern Africa the vast South American re-
cion forming the sources of the Andes Central
America Northern Mexico Oregon and Washing
ton Territories and even good portion of our
southern states are haunted and harassed b! gold
seekers Most of the individual hunters will probs-
bly be disappointed but some OF them will open new
fields or increase the product of old ones and the
general result of their operations will be large aud
steady increase of the God.yied for many years TO
come-probaby for at least generation. And, 50
long AZ the aggregate amount Of the precious metals
in circulation or in bankers vaults is increasing, the
amount of Paper Currency in circulation will tend to
increase and prices consequently to rise still higher
We regard the great war just commenced as the
chief anta gcnst influence 70 the threatened imitation
War is terrible consumer of property at best 1t alb
sracts men and capital from productive industry and
deyotes them to the work of destruction Two fleets
or two armies meet in battle, and whichever may
conquer the net remainder is worth good deal less
next day than they were the day before heet
bombards fortified city and the fleet and clty to-
Cether will probably have less cash value at the close
than either had at the beginning OF the tray. Inc
British and French fleets are now consuming an I'M
mense quantity of coal which ought TO be applied 10
smelling iron Should this war continue five years,
il will have deyoured more property than Turkey in
Europe would sell for if brought to the block, with
George Robbins for auctoneer And this, II we DO
NOT misread the laws of currency will tend to de-
precate prices generally True, depreciation is sell
dom realized during the continuance of the war be-
cause the Fictitious activity and prodigai expenditure
incident to fully counteracts for the time the ell
feet of Property dimnution on currency; but when
ever Peace is restored, and Business resumes It's ma
tural aud heathful channels, the chasms created by
War become evident
Ii the world has grown richer in precious metals
since si9 it must be plain that this wealth has been
acquired at the expense of poverty in some otner
quarter. The men who have dug say Five Hundred
Millions in gold would but for this employment have
cleared of more forest broken up and fenced more
prairie mined more coal and ore, made more iron and
cloth grown more grain and reared more cattle, had
they not been drawn into gold mining. And this
abstraction of labor from Agriculture and Manufac-
lures to Mining has douby tended to enhance prices
l. b. making money abundant; 2. by making other
products relatively Our readers, being hmll-
lar with the arguments in favor of Protection to Home
Industry will not need further calculations OF this
point.
Whether the world is actually richer this day for
the modern Gold. diggings-in other words whether
the Gold actually obtained since 1919 il worth more
TO it than the Cearings Grain, Cattle, Iron, Steel
Cloth Grain. Pork, &C., which the labor devoted 10
Mining would have produced in the absence of Gold
hunting is grave question. We do not doubt that
this country would have been richer aud more truly
prosperous this day if the time and labor, outlay
and capacity devoted to California had all been ex
pended in opening mines of Iron, Coal Copper, Zine
Lead. &C. on this side of the Rio Grande in wrest-
ing farms from the wilderness, and in covering them
with stock and growing crops But, since 1t IL plain
that in the absence of an effective tariff the labor
and capital attracted to California nOud not all have
been devoted such pursuits in the States but would
in good part have stood unemployed or been expended
to little purpose, think the influence of California
has on the whole, been beneficial. Yet no one needs
to be told that the Seventy Millions OF Gold annually
received from California worth no more to u.s.
even to our currency than would be Seventy Millions
worth of the Coal, Iron, Steel Cloths silks, &C.
which we now import.
But will prices of food rise still higher We thinknot
in the average, though the prices of products
may. Breadsuis especially have been carried up by
an unfavorable and consequent short crop in
Europe, which not likeyto be repeated this year.
The war will abstract many hands from production
and devote them to destruction; STILL the deficiency
of food on that Continent will probably be less than it
has been. AT present, France and Great Britain are
drawing heavily upon US for specie, as they would not
be if they were deficient in Breadstuffs We that
Grain and Flour sent here from Canada in bond for
expectation to Europe have been released by the
payment Of duties so to be thrown upon our mar
ket. In fact the prices of Bread and Meat
y higher in Old than in New England, while yegeta
bles in the average rule lower We doubt that there
is city in Europe where Potatoes so high in
New-York. The backward spring contributes TO make
all descriptions of green vegetables much dearer han
usual.
We think Breadstufs and Beef will be cheaper
soon but not so much cheaper our City population