New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1855-06-01
MONEY AND BRITISH FREE TRADE.

| favorite system of Free trade with foreign
countries by help of prohibitions of domestic
trade-being precisely the result at which all
our Free-trsders arrive-cosing the domestic
market for labor precisely as they open the
foreign one and thus running the Democrats in
the name of Democracy. 1t assumes that
if they would only prohibit men from determin-
ing for themselves whether they would or would
not carry bank-notes in their breeches pockets,
or receive them in exchange for labor or mer-
chandise, that then we should have sort OF
money-millenium, obtained at a cost so very
small as to be unworthy the slightest attention;
and this system of prohibition 1t is pleased to
teach in connection with that other one so well
known TO all our readers by the name of British
Free trade.
The receipt for cooking hare given IN
Mrs. Glass's celebrated book, commences with
the following judicious advice: First catch
ssyour hare;" and it would, we think, have
been well if the financial cook of The Post had
commenced with advice as to how the gold was
to be caught that was to be substituted for the
paper now in use. Had it done so, II would
however, as we fear, have found itself forced to
abandon British Free trade; for, if we are
properly informed upon the subject, gold
always flows in and is not only readily caught
but readily kept too under Protection, and as
regularly flows out under the system called by
The Post Free trade Under the former, gold
becomes more abundant and then banks do not
break, nor does The Post find any opportunity to
labor for the destruction of that system OF
credit which tends to place the labOrer on
footing with the capitalist, and to elevate the
Democracy of which that journal-like some OF
our neighbors-professes to be so dear friend.
Under the latter, gold always flows out and
money becomes more scarce, and then it is that
banks break, and that journals like The Boston
and The N. Y. Post and men like Gouge hnd iuli
employment for their abilities in destroying
credit and thus enabling their money-lending
friends TO enrich themselves at the cost OF the
credulous men who have labor to sell, and whoyet
believe in that sham Democracy which ia sup
ported by Rothschild aud Belmont; and which
holds its existence at the pleasure of the slave
drivers whose organs are laboring to teach the
world the advantage that results from having
society divided into two clasSes-the one holding
the plough while the other wields the lash; the
one bringing infants into the world while
the other feeds them until strong enough to
work, and then carries out the Free-trade prin-
ciple by selling them for expectation to distant
lands.
Admitting the advantages that might result
from substituting gold for paper, we now desire
to ask The Post for information how the gold ia to
be obtained and retained, seeing that for long
time past, though we own California, 1t mas
been quite impossible to retain as much as was
required for the purpose of circulation, even
though aided by all the bank-notes now in use'
If we cannot keep it now, how shall we be able
to do so when paper shall have been suppressed
and when gold will be required to fill the yacan-
CIV thereby created This is an important ques-
ton for our financial contemporary, and with a
view to enable him to answer it satisfactorily
to himself, we beg to request his attention to
the following brief sketch of the history OF this
country for the past forty years.
The war furnished protection to manufac-
lures, and manufactures aided largely in carry
ing the country triumphantly through tho war.
Its close found the country prosperous, proteo-
ton was continued, specie .ao,csd in banks re-
sumed payment credit was full and complete,
and labor was in demand and therefore literally
paid.
In 1913, however, Protection died and her large
fortune, thus acquired, was inherited by British
Free trade which found the national debt in
course of rapid diminution and the people rap
idly increasing in the means by help Of which it
was to be discharged. British Free trade sur
vived till 1924, when she in turn descended to
the grave, bequeathing to her successor, Protec-
tioD, an impoverished treasury-a revenue so
greatly diminished as to require large loans to
save it from bankruptcy even under an annual
expenditure of less than ten millions of dollars;
a commerce requiring steady export Of specie;
diminished credit abroad and at home, aud an
exhausted people.
Protection succeeded to fortune that had
been thus impaired, and yet when she in turn
in 1S34-descended to the grave she bequeathed
to British Free trade country in state Of
prosperity such as never before was known;
revenue so great as to have paid off the national
debt and to thus render it necessary to
emancipate coffee and tea from the payment Of
duty; specie fo,ring in from all parts Of the ror!d
credit high; labor in demand and laborers rap
idly rising in their relations with those by whom
they ws.s accustomed to be employed.
British Free trade lived on until 1872, when
she in turn descended to the grave leaving be-
hind her a ruined nation; treasury bankrupt
IL e