New-York daily tribune., 1854-07-13
erthecss drectly the rsyr.e Of th. ia Taught By ~

tie pro-siastry bnd British free trade advocates OIL
cur dev. Nr. Walker assured Congress ths; "
were. and - right sboo,d continue TO be- an agf'-
cultural people; and in this be Only repeated TIE
teachings Of the men OF Manchester whe had crn' sed
the uaruisetores Of India and Ireland aud en7lvei
al that Yorlion of the people OF those countries tat
had c,csred obstruction by iaInDe snd pestilencc
The discovery Of the gold fields of California pro-
dnced 6is.r.ifcstion Of employment. 1t drafted
hundreds of thousands Of people from agriculture
srd manufacturing to ser them ., work in the mines
and thus the supply labor TO be employed
in those pursuits, and the necessary consequence Of
this was sn Increase ia the reward Of lsbcrers
generally. The farmer fonnd his increase in on ad-
vance in the price Of food, the miner in that OF lis
coal the furnace man in that OF his iron and the
manufacturer in that Of his cloth. Precisely the
sane effect, however 70 far regarded the demaha
for, and the rewardo labor woud have resui'ea from
the opening of new coal AID iron Mines new furnaces
and rolling mills, or new mills for the manufacture
of cotton and woollen cloth; and had the sSuie
amount Of labor and capital been apphed In 'hose
directions that has been applied to building up Ca
fornia fbe improvement in the condition OF the
people would have been thrice greater thsh IL mss
hoen because the commodities produced BY labor so
,nnl;ed would have been thrice greater in amount
What has been seen, however, is quite sufficient to
prove the advantage of liberalization Of employ
mepts and to prove the error of Mr. Walker and the
rest ef the pro slavery school North md South IN
adjoining the British free traie doctrine that the
wheat and tie cotton should be raised one side Of
the Atlantic and converted into cloth on the other.
In both countries the same error is committed, and
in both the discovery of the gold fields has tended
to it's correction. The policy Of the free trade school
in the one tends TO drive the whole people into fac
tories and in the other to drive them to agriculture
California produced an increased variety in the de-
mand for the labor Of this country, and Australia rem
dered the same service to England; and tho neces
saw consequence was an advance in iborers wages,
and in the prices of coal iron, cloth and all other
comuodties and an advance consequently in the du-
ties pavable on them under the ad valorem system,
while the great demand for ships for the performance
of long great increase OF feights and
the two thus combined to give the manufacturer the
protection tbat was denied TO him by tile proslayeiy
school, that grants millions upon millions OF dollars
for the purchase of slave territory, yet refuses the
northern iarner the most trivial grant for the
improvement Of the rivers and the formation of the
harbors required for giving value TO bis labor and his
land.
The tariff OF i5l6 tended in one direction toward
the closing of mills and furnaces, the limitation Of
the sphere OF cur activity to agriculture and the
aiminution of the reward of labor. Tho gold dis
cOveres tended in the opposite drection-toward the
correction Of the tariff blun1cr Of 49, and hence it is
that have had long delay in the settlement of the
account between the who would protect the free
American latorcr, and those who would sacrifice him
n erder TO promote the supposed interests of the men
hold that The true mode of maintaining ropubli-
,an institutions is to reduce the bireng laborer' Of
he North to the condition OF tie chattelslaye Of the
South, rendering him thing obe bought and sold like
'attlc in the market The dayof that settlement, is
ioweyer, approaching, and that such is the case is
proved by al the occurrences Of the day, however
title the prOslavery free traders may iecl disposed
o admit the fact
The natural effect Of an increase in the facility of
an. commodity is reduction Of its prise
iold is Low obtained with facility heretofore IN
nown, little less than four hundred millions having
een yielded ty California and Australia since mid
ummer, lei9, period of five years only; and yet
he price Of money has remained steadily at from ten
o fifteen and eighteen per cent per annum for more
han year past, and so continues with small reason
o hope for decline in future The rich are thus
,eiDg made richer, while the poor being made
poorer. The millionaire doubles his fortune, while
he POOR shop-keeper finds himself eaten up and his
amy driven from house and home because his profits
ire ALL and than all, absorbed by the usurious
interest he required to pays and all this is taking
)lace under circumstances that would warrant the
xpectaon Of steady decline in the rate ofintcrest
The reason OF all this is simple: The prO-savery
ystem OF free trade is working in directionthat
If depetion-much faster than California works in
he opposite One-that of repleton. We get much
yod, but we keep little of it. 1t passes through the
ystem but scarcely any of it remains The banks Of
Mis- City held nearly rs much specie five years since
Is they hold at this moment, and lie held
all the banks of the Union over that held in June,
lsi9, is scarcely worthy Of notice in this examination
If the course foperatons. TIC Sub-Treasury docs,
i is true hold some twenty TO thirty millions but
we're its vaults opened and the gold discharged, it
would all follow the seven millions in process of
being paid and sure to go to England to look after the
hundreds Of millions already SENT Under such cir
rumstances the gold does good than does
food to physical body that discharges it without
avng first subjected it to the process of assimilation.
IL will be said, however, that hero is of it in
circulation, and such is certainly the fact.
The Sham Democracy of to-day holds with
Mr.. Calhoun and Mr.. Buchanan that low wsges would /
be substitute for protection, and low wages to
he lsborer tend to the advantage of the of fixed
neOme yho does not labor, eyerythingis done pre-
rent the circulation OF the cheap bank note and force the
substitution of the dear gold. Every step in this !
direction tends 10 increase the burden Of taxation for