The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-04-26


case the farce Of Bronson and Pierce cannot be
acted over again SO Messrs Sanders, Hart,
Siciiles and their e-fr~es may as well hang up
their fddles and pick up the crumbs that fall
from the federal table, remembering that even
the wickedest ours will not bite the hand that
feeds them.
Emisrstson sos,thSs Arlxansas-Anot
Chas,ce for MIR. Ihay~r-Opanioas Of George
Peabody, the Banker.
Mr.. George Peabody, the eminent American
banker, whose visit to this country has been the
subject Of frequent newspaper comment in
consequence of the reception he has met with,
and the generosity he has displayed ia the en-
dowment of several admirable institutions in re-
turn-is reported since the completion of his
tour In the Southern aud Western States, to have
expressed some opinions which, from such a
source, and relatieg as they do to subjects which
he perfectly understands, are entitled to con-
Siderable attention
condition of general prosperity Of which he hal
NO adequate conception but as whole, he con
siders the Southern States as occupying the mos.
solid and permanent position of them all. The
great staple of cotton makes the whole world
forever tributary 10 them This is something
which at present they alone produce in such
quantities as adequately to supply the looms of
Europe and our own country, and without
which we may almost say the world would 90
naked. In the Northern States the Industrial
pursuits Of men are liable to great commercial
changes. The form and the character of manu-
featured articles, the course of trade the demand
fr shipping, and the price of -four, are all mat
ters Of frequent and dangerous fuctuation but
cotton, under the impulse of an increasing de-
mand, and the cheapness of lts machinery formed
novelties, is basis on which its producers may
soldly and unfearingly repose.
In the new Western States, the rapid advance
Of the price Of land, consequent upon tho
formation of new States and the com.
pletioa Of new railways is encouraging
spirit Of speculation which again threatens the
embarrassment Of public and private credit, as it
has before done in those parts Of our country
Capital is being withdrawn from its legitimate
employment to be laid out in ''cOrner lots" in
paper cities there to lie for future gains, under
load OF enormous debt, to secure the future pay.
ments Of the purchase money; farmers only hall
cultivate their land, merchants extend their pa
per In the Atlantic counting houses, under the
expectation Of greater profits from their home IN
vestments than their regular business But the
cotton producers, though deprived OF the excite
ment Of inorinate speculation, feel that they run
no risks in their own case but those of the sea-
cons, which are alike to all. They see their
wealth steadily and largely increasing, though
they have no corner lots ahead (of which bale
Of cotton would literally buy scres); and though
they may lament the want Of spinning mills and
shirt mAnufactsrieu, they have that without which
no mills can spin nor shirts be made. -
This, then, is the impression made on the
minds Of those strangers who cast rapid glance
at the relative responsibility and wealth of the
various States And we Of the North must admit
that this view Of the subject is an exceedingly in
teres.ing one, and explains very naturally why
the Southern politicians, getting some vague idea
of the facts rant and rave at their commercial
power and Importance, and threaten by q vehe-
from our ports 10 their own.
But with The admitted fact that cotton is thus
king, there l. still very large breadth of cotton
land to,,ly uncultivaied in ;hc United States;
and how 10 turn il 20 account il the puzzle of
Southern statesmen and economists They have
gone SO far TO propose the revival of the slave
trade in order TO procure lsborers, and have
counted the Union itself not worth preserving
II they could but extend their cotton fields to
advantage.
For some time past there has been an evident
movement in the New England States in favor of
emigration 10 the southwark on large scale,
and monster companies have been formed to car
ry out the idea The Southern States see In this
nothing but an abolition plot-a dark conspiracy
to overthrow their domestic institutions mot a
bit Of H." The working people Of New England
are actually starving. They cannot earn enough
10 keep bodies and souls together. The rigor OF
their climate demands large supplies Of fuel in
their dwellings, heavy and expensive clothing on
their backs, and good solid carbonsceous food in
their s,omachs The climate alone il tickle
enough to ruin the outdoor laboring poor. The
population having begun to press on each other.
il il becoming a necessity Of life and death to
emigaie to places where the expense of living is
smaller and the demand FOR labor Is the same
The South offers in many respects greater advan-
tagrs than even the Wes, Without sufficient
supply Of money to carry them along for the first
year or two 10 the new States. the condition of a
poor emigsnt family is truly deplOrable. 1t isa
fearful and beart-breaking struggle against III
health, With want of means want Of sympathy,
want Of neigbborly kindness want of every
thing.
And now, since the demon Of speculation has
sci up bis red flag in the West, and is attracting
purchasers Of lands, not for improvement. but
for rise. the emigrant in moderate circumstances