New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1857-10-07

eiey. IL "a affirmed, not by me II having been no
party 20 the contract), that the Know. Nothngs &C
;uay rsised the sum Of $4,000, in these times Of
cent per cent, for the purchase OF that pots print
II is ayerred further that it offered itself TO the
Banks men for the sum Of SIC, 0O0; but their virtue
was too strong to yield to 30 very tempt.
atom. II tSe Gardner men had applied to NE, l
could have given this capital, for moderate CON-
mission, c very much more proftsbie direction for
their puJpo ses This is altogether the worst symp-
tom for The Gardner cause that have lateiy seen
,upposjpg Il 10 be true. So speedy parting with
so much money, looks az if the Governors party
bad subsidized into proverbial category which my
respect for dsnit.es prevents my PaEucularHing
mo,s INFINITELY. BYLES.
Ccrrespcsdercs Of TIE n Y. Tribune
BosTON, Monday, Oct 5, 1857.
Last Saturday ended week Of great financial
dstre,s to the business men of Boston, particularly
10 these who are connected with the cotton manu-
featuring interest. This class Of men are supposed
10 have been the nstigators Of the merchants meet
ipg q. tho Exchnse on Friday, with the design Of
inducing the Banks to suspend specie payments.
The resolution introduced at that meeting by Dir.
Pierce (of the firm Of Pierce 4 Bacon, extensively
engaged in the cotton trsde), though il not urge
suspension, was yet interpr ted into 1desire for
that measure. Its demand, in terms, was merely
that The Banks should come to the rescue and fur.
"nish the necessary aid 10 sustain and give relief
ito the business community" and this was
accompanied BY pledge that the commun-
ity would "sustain the banking institutions in
"the measures proposed" As no measures were
specifically proposed tho very vagueneas OF the
resolution tended to make the people suspicious OF
its purpose. The meeting, however, was very
largely opposed TO suspension, and although It
adopted Mr. Pierce's resolution, it accompanied 1t
with series offered by Caleb Stets0n (of the Shoe
and Leather Dealers Banh), declaring with great
emphasis against a suspension. 1t is proper to say
that Mr. James Lawrence (son Of Abbott Lawrence)
and Mr.. George B. Upton, both Of them connected
largely with the manufacturing interest protested
that they did not desire suspension OF specie pay
ments. There is great distress among the cotton
and wooden men, and-such is poor, reyengeiul
human pature-I have heard an influential politician,
since their troubles commenced copgratuatlng him
sell and thanking God that "cOtton is no longer
kipg~ Ia the ten years from 1912 to 1855, cotton
did upq uestiODsby exercise bad influence upon our
pol;tica 1. soitened the opposition OF Massaehu-
sets to the annexation Of Texas, and when that
mea. ure was perfected far the joint resolutions
could perfect il, it prevented any opposition to the
sdmissiOu Of the State with Slave Constitution.
The nti-Texas movement, 10 which even Mr. Web.
ster was 80 greatly interested, dscOuntenanced
by Mr.. Lawrence and Mr.. Appleton, speaking for
the cotton interest. and Mr.. Winthrop was put for
ward in Faneuil Hall to give in tho adhesion OF the
Whg party TO the policy which has had SO many
disastrous results. IL the cotton interest which
demanded the nomination Of Gen. Taylor, hoping to
place Mr. Abbott Lawrence on the ticket with
him, and which, in order 10 effect ito purpose, again
put forward Mr. Winthrop to defeat the purposes Of
tie conscience Wings" who desired that the acts
Of the State should bear some resemblance to its
resolutions. Is was the idol Of the cotton interest
Mr.. John Davis, who Was placed in the field before
this time 10 defes. the election Of John Quincy
Adams to the United States Senate, and the same
man afterward talked the Wilmot Proviso To death
The cotton interest has always been connected with
party politics. For several years the Lowell and
Lawrence Mills were, Like the Executive
Council Chamber, sort Of hospital for Wing
politicians who were placed there either to reward
them for some faithful service to the party, or to
console them for some severe disappointment. The
coalition of 1850 however, inflicted blow at the
influence of cotton in our local pOltiee, from which
it has never recovered, and probably never will.
The financial panic wthdraws the attention OF
the people generally from politics. 1t might be
supposed that the State tax Of million OF dollars
would excite some observation, bearing as y does
upon every individual property holder in the State.
II the friends Of Mr.. Banks had been shrewd
enough 10 instigate the assessors In the small towns
10 place upon the tsx-bis, now just distributed d
separate note or item, informing each unfortunate
taxed individual how much be 10 compelled to pay
toward the support of Gov. Gardeners innumeraole
commissioners and agents, and for the perfection OF
the extravagan. schemes commenced within the last
three years, they would have made good thing oil
il politically, and the public attention would nave
been directed 10 the general subject OF executive ana
legislative extravaganza. But as 1t 10, the small
item which each man pays is not thought o. ana
orgettlness of il is rather helped than hlndered ~
the general financial pressure. IL MAKES out NIUE
difference 10 the man who 10 unable 20 pay Els lnou
sands or hundreds Of thousands OF dolars whetner
his tax bill ia dozen dollars larger or smaller. The
State debt. however, affects the money market IN
still more direct way. The banks are compelled TO
loan 10 the State treasury q. the rate OF i've per
.. nj all the money it wants, and within lev days
the country banks have thus been forced 10 dsgorge
4. hundred thousand dollars. But little notice, how
ever is taken OF this. The people are wonderfully
pate ut under their burdens.
IL va. thought that Gov. Gardner might make
some political capital out OF ls vetoes oil certain
railroad projects, and OF the Kansas appropriation
resolves. But very little is said about them. Inc
Boston Courier has been trying Tor several weeks,
To get ND an excitement on these subjects but in
vain. the fact about the Tunnel Is, that the mis-
chief if it was mischief was done IN 1854, and the
Loan Bill was psssed by Wing Legislature, when
The Courier was Wing, and was approved BY Gov.
Washburn, a Wing Of the strictest sect. At that
tine Gardner was himself friendly to the Loan. 80
il hardly becomes him, or The Boston Courier, 20
say anything about the Tunnel in connection WIN
State e1.ravsgance. The bill Of last Winter, when
Gardner vetoed, merely asked for change IN The
terms of the loan. The veto Of the Kansas aPpIV
priation saved nothing 70 the Treasury, tor " tne
resolves the money was to be placed IN the uoseL
uors own hands, and 70 nve.erae HonAer ~ ctu.
never have used any of it to all ne fIe 80 !,
settlers Possibly however be might nave a' CO.
in tie service Of Border Rufiannm. Ta ,ar ne
been quite handy as "eonapse nor , use