New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1856-04-12
In ten Years time, ard perhaps less, it viii ll back
to tbs price have obtained for it,"

ola i'm opposition 10 The bl0d love OF speculation,
nm illustration is afforded in sn interesting Incident
related BY bis biographer, Mr.. Cary: "About thirty
years ago the price Of coffee, which for long me
previously had been as high as twenty-five cents,
bad declined to fifteen cent? per pound, and Col.
Perkins being in New York for day or two, on a
visit to daughter who resided there, wish was
expressed that it might be suggested to him that
the temporary depression having made it fit sub
ject for speculation, if he should be disposed 10
engage in it on the extended scale TO which be was
accustomed, there was ali opportunity to secure a
large quantity on even more advantageous terms
As coffee was article out Of the line Of his usual
operations, and not likely to attract his particular
attention, the subject was mentioned to him rather
for entertainment, in conversing upon the occur
rences Of the time and the news of the day. than in
the belief that he would give it serious thought.
Without hesitation, and with the ease and
precision Of an able lawyer or surgeon in giving
an opinion any case presented to either
Of them professionally, he answered to this effect
The depression in coffee is not Temporary"
Whoever makes purchases now at fourteen, or even
at Thirteen cents, will find that be has made mis-
take, unless he means to take advantage Of any
transient demand to dispose of it speedily. There
more coffee trees now in bearing than are sufi-
cient to supply the whole world, BY proportion
that could state with precision if necessary.
Tbedeclne in price is owing to accumulation, which
ail be found to increase, part cularly az there
new plantations yet TO come forward. Coffee will
eventually fall to ten cent?, and probably below
that, and will remain depressed for some years.
The culture of it will be diminished. Old planta-
tons will be suffered to die out, and others will,
in some cases, be gribbed up that the land may
be converted to new uses. At length the planta-
tons will be found inadequate to the supply of
the world. But it requires five or six years for
the cofee-tree to reach its full bearing. Time, of
course, will be required for the necessary increase,
aud the stocks on hand will be diminishing in the
mean time rise must follow. Whoever buys
coffee twelve or fifteen years hence at the market
price, whatever it may be- will probably find it
rising on his hands, and fortunes may be made,
unless speculative movements should have dis
tGfbed the regular course of events With
so clear an outline for the future, it was
interesting to observe what followed Coffee gra.
dually fell to less than ten cents, and remained
low. One consequence, usual in such cases, en-
sued. The consumption increased. Msled, per-
haps, by THE, and an inpatient desire to be fore
most in securing advantages which by that time
were generally foroseon parties began to move I'M
speculative spirit about five years before the time
thus indicated. They made great purchases, and
large quantities were held in expectation of profit.
1T curious to notice the action and hear the re-
marks of various persons concerned in what en-
sued, according to their different degrees of intel
ligence on a subject that was not, even then, fully
understood by all. Coffee rose considerably.
Some Of them secured moderate profit while
they could. Others, arguing on a crude belief
that as coffee had been at twenty five cents, there
was no reason why it should not attain that price
again, determined to wait for far greater profits.
The stimuant given to the demand by Withholding
large quantities from sale, developed greater stocks
= than we're supposed to exist; the movement was
found to be premature, and coffee fell again in
price. Immense sums were lost Bankruptcy
followed, with many heartache that might have
been prevented by counsel from one Ike him, who
bad the comprehensive views and thorough knowl-
edge that belong to complete merchant "
The influence of commercial pursuits in produce
ing hard and selfish tone of character is often al
ludtd to by the mOralst. But it is fact that no
class Of meu have contributed more than merchants
to those great enterprises of utility and benevolence
which have required the appropriation OF large
funds with no hope of private gains. The lives in
this volume are filled with examples of their wise
and generous benefactiOns Col. Perkins was one
Of the founders of the Massachusetts, General Hos
ptsl. The Boston Athen@um shared largely in
his generous Offices ThePerkins Institution for the
Blind almost owes its existence to his wise liber
Atty. Mr. Cope of Philadelphia was no less emf
nent as a philanthropist than as merchant.
Nicholas Brown gave his same to the University
Of Rhode Island. His gifts to that institution
amounted nearly to one hundred thousand dollars.
He left nearly one third of that amount for the
Enlistment Of Retreat for the Insane. Stephen
Girsrd redeemed the sordidness of misery life
BY his far -famed munifcence in the endowment of
the College for Orphans in Philadelphia. Matthew
Carey was prominent in all the worthy charities of
the day. For many years he kept list on which
we're enrolled the names of hundreds to whom he
gave once a fortnight donation of groceries aud
other neeessaries of life. Thomas Eddy devoted
the principal energies of his life to objects of pub
lie utility. Jonathan Gosdhue, though limiting
bis charities to private sphere, was man i'm
bued with the very spirit Of beneyoence. The
kind acts Of Jacob Lorilard were equally remark
sble with his mercantile sagacity and enterprise.
Samuel Appleton made it rule during the latter
hart Of his liza IN spand hts x.hola ;peoua avpry