New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1854-07-20


and we still continued large importers of god but
the necessary effect of the change OF system al oeeu
TO arrest the growth Of mills and furnaces and the
gold then imported came as consequence oil large
sales Of bonds. with the proceeds Of which we Pur'
clafed iron and cotton and wooden goods. Ne'er'ue-
less although tie stability of the trade of the country
YVES thereby greGtly impaired, so long as gold con IN
ued to &, in. prices remained high, and money coaid
be borrowed without much difficulty, although the
money lender profted largely by the change that was
then 10 progress-the rate of interest being prooaoy
twice greater than it had been in the days Of the
tariff of Is2e. This however, was but preparatory
TO the harvest he was destined to reap in the glorious
dsvs of British free trade Of leil2. The duties had
then gradually fallen until they had reached twenty
per cent and the specie had gradually gone out until
scarcely any remained in the counry and then il was
that large proportion of the property of the country
snged hands by the aid of the sheriff while farm
era and manufacturers sought in vain for purchasers
of food and clothing among the men who could not
sell their labor The debtors were everywhere ru-
med, while the capitalists were everywhere enriched
The poor were made poorer and the rich richer By
aid Of the Democratic tariff supported by Mr.. Van
Buren, and his friends.
The ruin that had resulted from thus placing the
whole body OF tie people at the mercy of the few
who had money to lend, now brought it's own cure in
the election of Gen. Harrison and the passage Of the
tariff of 1912. Forthwith we became importers OF
gold and the in imports of the FIVE years that
followed the establishment of protection amounted,
az is shown by the table, to no less than thirty nine
millions of dollars With each step in this direction
motion was produced, and motion gives power. The
onuld coll bis labor mill coul1 sell
lis cloth, and the furnace master could sell bis iron
Men could borrow money to build mills and furnaces
and, therefore the laborer could find employment.
| The landowner the owner of houses, the farmer
the manufacturer and tie laborer, became again
independent, because money became once again abun-
dant, and the money lender was forced to content
himself with reasonable interest. Never in the world
was resuscitatiOn of nation so rapid aud complete
as that which followed the passage of the act Of 1872
Not content, however, with this state of things
Mr.. Walker and his southern friends abolished the
tariff OF le42, and gave in its stead that of l546,
whose effects speedily felt in the establishment
of q counter current for the gold, and in the three
years, from June 1547, to June 1880 the export
cteded the import nineteen million of dollars Mr..
Walker assured Congress and the people that 'a this
"eold must soon be returned" but the export con-
tinued year after year. and its effects we're in
1850 in the great dimnution Of trade. little demand
for labor, and great demand for the services Of the
Sheriff. The day of the money lender then
sgsin near at hand, the day, Of all others, to be
deprecated by all the owners of land and sellers OF
labor.
Fortunately however for the tariff Of 1916, the Cali
fornian mines were brought TO light, and thus was
supplied the drain that Mr.. Walker and his friends
had established. Within three years thereafter we
had exported SO millions, and we now export it as
fast it comes in, and would send it yet faster but
that the day Of the money Iender has come and his
commodity is gradually becoming so scarce that it eau
scarcely be purchased at any price, the consequence
Of which is seen in diminished building, diminished
road-maLing, diminished demand for labor, and dimin
shed trade to be followed by the bankruptcy Of mer
chants and fall of rents.
The mill owner, when he sees that his head Of wa
ter is falling and lis power diminishing, searches
carefully Tor tie leak and stops it. Now it is quite
as certain that 'mOney makes the mare CO. as tGat
water makes the mill go, and quite necessary to
stop the leak through which the godescapes as that
through which the water oozes out. Any movement
il that direction would be effective in the
as in the other. Is this, however attempted to be
done Money is seen to be becoming almost unat-
tainable, the difficulty about security is becoming
now great that the best mortgages are offered at
lsrge discounts in all parts of the country, while the
small trader manufacturer is unable to obtain it
at any price whatsoever. Yet does this state of
things lead to any inquiry among our Senators aud
Represt natives the cause OF the leak through
which escapes all the gold, upon the retention of
which depends the maintenance of the value of prop
erty, Of the demand for labor. and Of the credit OF
the country! by no means. Were such such an in
quiry made it might lead to discovery Of the fact
that sham Democratic policy is always favorable to
the money lender and always adverse to the borrower
that it always tends to make the rich richer and the
poor poorer and that the government is administered
solely and exclusively in the interests of men
like ROtLschld, who has now qualified himself, as
has been ssd, "tO lead the British lion, and lead
him according to his pleasure" and whose agent
now represents this country at the Hague. lie is
the fit representative Of our Government as now adj
ministered.
Among all cur readers there is, we are disposed to
thk, not single that does not feel that if the
drain Of gold could be stopped, there would be
real improvement in the price OF property, q
great increase in the demand for labor aud its pro-
ducts, and consequent Increase of trade and great
increase in the tranquility of the public mind with
great advantage 10 the whole communicable rroaey
tHder alone ezePted. All these results could readily be
obtained provided we were 10 initiate the conduct of
the miller when he finds his power insufficient be-
cause bis dam is too low. He sees that the
water afforded by the clouds runs over without con.
tIituiug in the slightest degree to produce motion in
the MILL and he puts another course of timbers