New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1856-10-25

The circumstances through which Ne have p 80,
Sire, very diihcuh; ali sors 81 I'D is'o'e ,o-a
s.. TAX, upon az n. same 'hle-nsA' A, -
Il maj datiopi and The prOiTacied d'e!u' a. u .,
periods one alone OF these calamitiss pas sun -
e1baus, the sources Of employ Iehi ano " III
excite ;roubis in the community. AHI :" 7. u.s
state as wen "a the iortane5 a lDdl'idua4'' r.
much to b. AIRED shat; with such com ulIece -
astsrs as have been oppresaed WIN a. ~ -
confidence would have beaa impaired ana ,o'' ' ~
pension Of trade AID Manufacture gud Ts,,v
o serious dininutinn OF dc revenue OF 'ne d;3,b.
Thee n nl.ipicd nisiortuDVf. sire, nav 10 -:
greatly effected The heart Of your Majesty PM u'11
ouch melancholy trlals every sncere io'er OF ~ 10
try and OF the truth must lei hePE n acA
the lact-peihap- fac; upiqa N hls'.,y ;r'
thanks 10 the confidence Which yOuT h9le'y naa ~
spired was more complete secuni prev suing OF nn.
perfect order: never were the eDeIgles a. M III
more actively DEVELOPED Deyer did the Mp!o' eui'N'
OF the public revenue 90 rapldy progress ,..es
II i singular fec. that the dithculi- % gu -
er tuato are those which arise out Of the very *
Gers Of our prosperity and N manner out Oh ue
otssve fee ling Of confidence. By .'FtaHa.e
the Government has bad 10 apply ~ euVrS' "a ~
provoking but restraining the general ImphI a;,u =!
repeated admoni,ions TO keep speculation Whih ne
bounds Of prudent reserve. .ho,.o,o
The opt ration of the budgets row current me sia!e
of credit The Bank aid The Treasury are me p!lls
toward which must converge, and ut winch ouiony
must be man fe..ed the symptoms which at any gwen
Ie1od ere most Characteristic OF The eo hon
lion OF the country. ard supply TIE mos acc' AZ.
Of is eapabite- As these dals lol nc
basis OF rational CT mate Il the wants anu
Of the future. be- your hAlesiy PERMISSION ~ '''
them the subject 81 some OoserV ATOMS
The budget Of lSi Is now IN course q. pting
broulh to settlement The DIVISIONAL account o.
il which vas publ shed last year showed On exc-- Oh
oIj q dure Of 100. C00GN france. ms dehci =" A.
the FINAL sccour. reduced to 1890 coo.
Tho buc get OF $50 has just been eiosed an we
have every ground for hoping that The amo1ni hch
i. l,ave- Ia he covered will not 60 oeyonh |'''''''o
or tU0l0.0O0 -
Thee figures will be seen a. BE- satisfactory NlTe
il they are compared with the average dthcN OF the
fys preceding Yeas which was not less than eign'y
millions anDuay ano II We bear In mind the enormous
burdens y hioh the public calamties, even wlhout
tskiDg the war into account imposed in addition ~ me
ordinary services of lsl ana l>J involving 'nc Open
iDg OF large supplementary credits.
These comparatively favorable results are 70 DC
attributed ia the cXtraordU6Ty increase Of nc
from indirect taxation. which last year ATTAINED the
enOmous amount If - millions. without IaciudlhS ~
millions aTlsiI z from now taxes
AT no period, under the most favorable influences.
have the producing capabilities OF the naton Deeh O.
hibiied in so signal manner. .,.
This movement which wac s5cTlofd 10 me EInlof-
ton. has not ceased in lst. Il was believed ana Us
serted that would cease; but that was complete
error.
The result in fact ha, been dec i've a. t. that oint.
If the amount OF the products of tie country in 1880 had
been owing accidental cause, we should have seeo
VIDA: always happens alter great Effort sudden
ISIS oud have fallen off and descended even T. le.s
than those OF 1884.
II am happy to he able 10 state Sire, that the
traIy has actually happened.
Not Oply has the amount OF The yeaT iSl Deth et
tanned and exceCded-not only al est up To this time
OF The Year the extraordinary amount f 1879 nas been
reachod-bui the first month. Of II present year COM
pared with the corresponding months OF last year give
Us q considerable increase.
This increase comes 70 10 900 001 compared with
1854 and nearly % 0O0 00O compared with 49,, in
the fist hall year only.
II il tue that the comparison COR the month ot
August s less favOrabe-but that 70 mmatciial oi II
10 be explained by the payments OF taxes by ancl-
patton, in the month of August, 1872 occaslonei by
with to avoid payment Of the newly-lmposed tenth.
Tbs partial falling OF will. moreover, he soon com
pensalcd Tor. The information have received ena-
bles us to expect incrase Of above 1900 OOo on
the month Of September.
UpJn the whole, the augmented reS enue from The
old iales and the sum derived from the now taxes, to-
geiher constitute an excess Of about 12NOOoJ above
tbe amount of the estimated for the nine first
uOrths Of this current year.
The importance Of this calculation j. hoy ond all
dispute.
Illusion the mos: substantial 10 hope that the
budget of IS56, Notwithstanding the expense OF co.,
tracing the loan will actually exhibit, for The fret time
dunn many !esTs an e}Ga , Ds'i c sTccpjobs
DILIGENTLY is The best proof that the Onward progress
OF the i,rtunes the State hitherto IL far from being
slackened
in the mOmentary depreciation OF the pubic -ecu-
rites J
According to my opinion, such view OF the mat
ter would be in error.
This i. a very delicate subject and difficult Of up
probation. In the alterations OF rise and fs!l OF
prices much il due every day TO the influence OF tenn
poraIy causee which are often inexphcabie anu I'M
known. But fact of general o6serv alton ana OF
rca.surng character results from the pre- nj state OF
thjnps which II Will control; and that Ii the per
ception as every sincere mind must agree, that the
giIpg way in the prices of our secuIitits does not
lion Of capital in France or defect III the sol'dy OF
their tles but solely from the multiplicity Of the secur
ities themselves We mast not be surprised q. this
for is the inv arable law OF trade that every sort OF
merch NJ die 1t cDes % market value IN proportion to
the quantity OF the tui ply, especially II this exceeds
the existing want and the amount Of means at The
time dispossble.
Tie r,sf urces of France. Sire are indeed great
they are INN ense and recent eyeD have showed their
fulextent there could be any serious danger 10 them
only If we came 10 persuade ourselves that they
Infinite and that they would suffice 70 Perform IL
France and abroad also, in q single dsy that which
should be the patient work of time. But let tie pru
dent recommendations OF your Mseety DC listened IA,
and let the requisite time BE- afforded for the surplus Ia
run OF and then the various classes OF securities Will
rapidy assume their true position, and the scale Of
tie values will iise Cor expect their basis IS
sodly established the existing securities founded
in central upon 6aG Fde productive enterprises, aud
the elasticity q credit has, A'er Gil, been entirely
maintained. The appr' hended ADVERTISEMENTS, can
no. ZOO often repeal could only arise Sire from sueh
exaggerated speculation Is 10 be hoped the public
viii Know how 10 kuaId against
at is "a the cause that We must attribute
tLo reaction by which lsst year al this very oeou
u. Bank OF France obliged &c adopt some resLc
tive measures.
Those measure were unfsvorably appreciated by
a potion OF the public because they were not always
viewed with sn accurate knowledge Of the cause, nor
IN oil cases with disinlcresed feelings Tha: great in
stitution has deal such numerous and diversified
in,cIsts L - whatever il may do 1t cannot escape &