New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1857-10-14


A terrible tornado Is sweeping over the land, aud
our financial and pecuniary stronghoids have wei
nigh all surrendered. The tempest arose in sky
clear to mercantile AID political bats, but was lore
tod nevertheless BY the prophets. Wisdom cried
in the streets, and but few hearkened The storm
came over the political horizon unprOvoked BY do
mestic war, pestilence or famine.
This event, 90 oppressive TO the nation forces us
to draw companion between our own country and
another-Russia-the latter believed, few years
since, TO be vergiDg ruin. During the late last
ern war; Russia was cut of from communication
with almost the whole Of Europe her enemies, &C
cordinely predicted that, whatever might be the
geographical and political results Of the contest,
her finances would be FRUSTRATED, her husbandry
aud well-being ruined, for many years to come.
Such uas pr,sminentiy the language Of the English
Fr,e-trads press, and Of its echoes in this country.
We uDrelentingly opposed such views Our siren.
uous belief in the capacity of Russia to override
the tempest and stand up in the Titanic struggle
and TO recover quietly from various and unaccount-
able losses, was based on the soundness of the Pro-
tectiye principle hourishng there uninterruptedly
foy more than thirty years previous to the Crmean
complications. Russia, in fact, is in every indus
trial and commercial advantage, intellectually infe-
rior to this country, excepting as regards
few of her raw products. She is inferior
in mental activity, in culture, in enterprise in in
dustry, in internal communications, in capital or
accumulated wealth, in agricultural economics and
productions in national force and grandeur Not
withstanding these Unreasonable nferOnties, the
ink of the Treaty Of Paris was hardly dried when
Russia began at once to recover from losses in
CURED during the war-losses Of capital, men, cat
To and labOr-losses truthfully incalculable in
cypbers. When at the present moment the inter.
est on capital is legally increased by banks all over
the world, Russia reduces it on loans made by the
imperial bank called Lombard, to the owners Of
real estate; reduces it, too, on loans made to
trade by commercial institutions for credit. Since
the close of the war, about $40 00O OOe paper cur
rency, or notes issued by the commercial banks,
have been withdrawn from circulation and officially
and publicly destroyed. After an unsuccessful at
tempt of the railway contractors-all foreign bank
ers-to sell the shares on the exchanges of Europe
partly on account of English enmity partly on
account Of general pressure-Russia afforded
market for those shares within her own confines.
Shares and stocks are sold in the interior to
home capitalists, and the expected influx Of
foreign capital has failed ~ come to pass;
but nevertheless the projected network of railroads
is now energeticslly in the course Of construction
all over the immense empire. Russia, moreover,
builds immense steamers and various machineries,
not only in her navy yards and workshops, bat in
those Of America, France and England, beside
squadrOns Of smaller ones, constructed abroad or
at home, for pacific purposes Not only the Baltic,
the Black, and the Caspian Seas, witness almost
daily such new crafts but all her principal rivers
the Vistula, Dneiper, Wolgs, Amoor, the Siberian
Irtisch and Lena, the old Jaxartes, between the
Caspian Sea and the Oural Lake, as well ss the
Asiatic lakes, have steam navigation. Russia, too,
is erecting gigantic cotton-mils and other mechan-
zeal and industrial factories and establishments near
the Baltic shores, and on the River Narya, and in
st. Petersburg and various other spots in the in
terror. The number other mines gold washings, but
above all Of her ronfounderes and newly -dscov-
cred and worked coal deposits, increases. To crown
all, che is fully resolved and prepared to emancpate
Is, OOO 900 serfs and endow them with hOnesteads.
This measure, so gloricusly beneficial and humane
in the end, must even at the start cause general
revulsion in ker domestic economy.
Whatever might be her inborn forces and re-
sources-and they are as We have just said, far in
ferior 10 our own-these would have been made
quate to bear such weights and give such results
without having been soundly and nationally hus-
banded beforehand. This was. this is, effected by
q Protective Tariff. Thus the war did not
wholly impoverish and ruin her population, and
wise protective facilitates the accumulation Of
capital to the Government and its subjects, and
WHITES the national resources and energies.
May we profit by the example