New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1857-12-16

psests ito production substantially; ahrss Pile Of gold
must b kept It rpt TRbuvI Office, ard es n
sumei mas. leep Ike duplicate p.Is. IIpo@isls
and absurd - this demand IT, il 10 presisey the de-
paid which begun and which constituted the ls,s
panic, ard for pon-peformsn,e Of this requirement the
merchants, The banks AID the farmers have been
Hereby derourced by the p.ets a. DsOlvent.
In what does Q solvent merchants note ct four
months by which shipment Of grain u made from
Chicago to Ne~-YtIk, differ from . bank sots BY
which The TRIBusE 10 shipped to Iowa J ID both
oases the exchange Of production 10 perfectly econo-
missed and without the Of dollar u gold; though
aIy shipment Of goods or gram may % cut uo 70 any
sIert by the Of email noteenerest tile notes or
bank notes. Ii s customary 70 say that the shpper,
Who, as merchant purchase and ships ins.esd Of be-
ing On agent simply ovetrades when he handles more
goods than he has capital 70 duplicate: and when
calamity destroys or an insane pane osPfeaatee me-
say that the carrier Of The TRIBUsI the grain or tbs
goods need not have much capital o. be hss goo-s
in hard-that 20 require this duplication G the hands
Of half dozen middle men is vastly wsstefui, and
that merchants who conduct such busireee on small
capital do not overzade.
The extent and duration Of tie present sci1gency
will be proportiored To the disrust of credits, and 70
the urgency Of the demand that every body "psy
down" in g real money" We eseiy make it last
lorg as the like calamity of lS37-lst the farmer
take nothing but pay do~n in resi- moeey,-ths
manufacturer demand the same, the comminoe h,ase
and the retailer the 'ame. The demand viii require
10 bunets ard each movement from producer to con-
sumer will &C ct Eve times ss much. And production
and consumption viii be diminished in like degree
even thing ookb gloomy, because all parties Per.
sst In making Thu &c gloomy in oistruspg those they
before trusted, in demanding style Of eeslins mo.
dele otter the barbaric sort where the parties must
each have hand upon the bag Of gold and the bun
die Of goods at the instant Of exchange, because
neither will trust the other Such are the teachings OF
the ssges Of hard MONEY ard no credit.
We shsu forget theories sooner now than In any
former case, however. The demonstrated insolvency
which cannot get gold On the instant for houses
to be insolvent. The "rottenaes' Of our econ
omy of capital Will be overlooked, and the
industrial system Of an enlightened age again
get in motion. We recede ten centuries or 70 90 me
time doirg the medieval Jew the trust-noeody
TUX and the barter business with surprising
facility. 1t is little natural TO US to pass csr
flea es Of depost sbou. in select circle, - did the
Dutch deposit ban kers a. Amsterdam innocent Of in
tsresf-worshippefs of gold one step removed rom
blm who sits on Lis vault-door. This is New.York
City of this present hour with thirty millions of idle
gold in its banks Still We Chrstians at heart and
shall ultimately be bett pleased with the precise state
of things exciting in July last when labor was oil en-
poyed, when mills were all in motion, and when me
}scties for production and exchange had resched the
The writer saw in 1882 vast tracts Of fertile land
abandoned, houses deserted, and property thrown
away In the West. Droves Of cattle and hogs were
feeding on unharVeetsQ corn ucioe, anu VoSt puo1d
ties Of wheat in the sbeaf pitched to them II the
colder months while the owner went with horses and
wagon to the lead mines to earn money TO buy gro
ceres" All natural wealth was despsed, because
there was "rsvulsion." What matter how cattle
ard grain were destroyed when "basiness was bank.
rupt7" On those very fields there are now cite, OF
ten thousand inhabitants and heaps Of grain aud
Groves of cattle hundred fold grester. Not dolr
converted into gold and by the current clamor il all
speculation the fields should be abandoned, and
the houses, being built without capital, shguld md
the winds Of next March blowing through them a. the
writer saw them blowing through hundreds Of hne
budir gs in Michigan and Wisconsin in NJ srch OF lo4O
fortur ately the world has gone forward seventeen
years as q whole since that time-a hans breadth In
the reckoning of eternity, but half century almost
with ecopc mfsts and many centuries hope, with the
people Of the country engaged in agriculture and IN
trade. Doubtless a large majority OF these reckon
themselves ruined to day, but month or two hence
they will have forgotten It, -
With one voice let ask the restorattoR 0t eredR.
Let the Of the gold piles in Nev-Yoik do what
they please with them and let the police instantly az
rest the unatcs who rend the public ear with outcres
when half million, Of sold is shipped TO England.
Perhaps II all beoDgstO few fellows who dug it up
in California and who ship it % they would potatoes
We perish for an edict from Louis Napoleon, which
should soy, "Stop calling your business bankrupt:
We have all been engaged In calling everybody
rotten" financially and We have demonstrated the
fact by d. aping up Withn q month or so at New
York an extra twenty millions OF unused gold, and
Afy thousand idle men, with like proportion Of idle
goods ar d idle machinery. -
PhlAdsphiA, Dee. O. 1857. ECoSoAisE