New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1855-11-30
WHO NEEDS PROTECTION.

The rate of interest has advanced in Prassin to
FIVE and half per cent, whereas it has gone up
here from seven to fifteen or twenty per cent as
il well known to those of our readers who are
so unfortunate as to have to do with money
lenders. What is the cause of this enormous diff
ference Simply that Prussia is constantly import
ing gold, while We are as constantly exporting It..
What, however, gives to Prussia, lately 80 very
Door, the power to import SO much gold as she
now receives Only the fact that under adequate
protection Prussia is daily increasing the develop
ments of her mineral resources and becom ne from
dsy TO dsy more independent, while we are as rap
idly becoming more dependent on British spinners,
weaytrs, ironmasters and bankers-the men who
find in q constant change of movement the most
efficient means Of carrying on "the warfare =
against foreign manufactures, and maintaining the
supremacy of British power.
Seven years since the value of all the ores raised
in the Prussian dominions was seven millions OF
dollars. but il bas since been more than doubled
Seven years since, Prussia was largely dependent
ON foreign nations for coal but she is now almost
independent of them. Seven years since, the quan-
tty of zirc and copper sres raised was 2o,Ooo
tuns. whereas it has now become 10000 tuns, and
as large portion of the mines now worked have
only recently been opened, great further increase
ia certain to be witnessed In the same seven
years we have been closing mills, mines, and fur
uaces-the consequence Of which is that we make
no more iron now than was stated BY Mr.. Walker
TO have been made in 1876; that We make little
more cloth than We did in lS4S that We export
the gold to pay for iron and CLOTH while our own
men. women and children are unemployed and
that the price of money is now three times as high
in this our rich country as it is in the 50 lately
very poor Prussia.
High as il is, we see no reason to expect that 1t
will fail to become yet higher. The London DAILY
Nrs tells US thst every one feels that We must
look to fresh bullion supplies as the only real
"seurce of permanent reliefto the money market !"
and The London Times says that by increasing the
rate Of interest exports are stimulated" while
imports, except Of gold, are diminished and thus
il is that the money market is to be regulated at
the cost of oil who have been so imprudent - to
place themselves in the power Of English traders.
We nttd protection, but not for the msnufac-
turers of cloth or the workers in iron. We need
ii for the merchants, who srs being exhausted by
the pay ment Of enormous interest We need il
for the sbipowner, who is perpetuslly building
ships in busy times that are to eat themselves up
in interest when British Free trade has sunk
immigration to little more than q third of the
amount at which it stood two years since We
reed it for the farmer, who requires roads, and
cannot obtain them, because Of the high rate Of
interest. We need it for the cotton planter, who
now finds his crop largely diminished in price
because England has chosen to engage in war.
We need it for the shOpAeepr, who finds that
because of the decay Of manufactures 90 many
people arc driven into trade that they are eatisg
each other up. We want it for the men who
: have made railroads, and find their property sunk
to half its cost because Of the scarcity OF money.
We reed ii for the lsborer. who 10 nov looking
forward to another drtsry Winter, Ike tia.
tsrsssh which he 50 lately passed. We need i,