New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1857-07-11

upon any original investigation touching the sub
ect But there are some facts Of the most obvious
and ibdsputable character bearing on this subject
which we desire to present in as clear light as
possible, trusting that their due consideration will
reconcile many dsagreem ents and silence some
pro6tess dlsputatiODs. These facts are succlnctly
as follows:
|. Our Manufacturing Industry has languished
and relatively declined during the last three or four
years, uDd er the Influence of the reduced Tariff Of
1916 We no longer improve new water.powers
and construct extensive factories except to very
limited extent while a good part Of our Wooden
machinery has stood idle through these years.
Meantime, Populstion ard Consumption have in
creased rendering an increase OF Importation
inevitable. Meantime, we have been making
Railroads with British Iron, aud selling Bonds in
payment, until that mine is nearly worked out.
Railroad securities Of all sorts-the good a, we'll as
the doubtfu-are now selling at ruinOus rates here,
and in Europe can scarcely be sold at all. Hence
forth to build Railroads on Bonds is to devote the
ito to ruin.
H. Our last Harvest was middng, but not
coed one. Mainly because of the prevalence Of
speculation and migration, sOmew hat, perhaps, on
account of the excitement and distraction Of
Presidential contest, and aso by reason Of severe
droush during the latter part of the season, the
aggregate production of the country was less than
an average, Willie many farmers, because of the
parched state ct their pastures, were constrained
to coinmehce feeding their stock in September.
The Winter closed in early, ard held on very late
the long February thaw having little influence in the
WAY of savirg fpdder--so that au enormous amount
of Grain designed for human t"d was necessarily fed
to cattle to save item from starving. Tle loss Of
wealth frrm this cau.c, and from the death Of
cattle for want Of food, must have amounted to
mahy millions.
ILL., Meantime we have continued to import
Goods az though We were in the flush of an unpre-
cedented prosperity. The Imports Of Merchandise
at this polt for the fiscal year just closed were
officially valued in round numbers at Two Hundred
and Twenty Millions Of Dollars, while those of the
preceding yrar were less than Two Huudred Mil
lions aud th' Sc "f the preceding but little over
One Hul aid Fifty Millions. There were
rever before many goods imported here as dur
iug the very last year Assuming that the usual
proportion of two. hids OF all the National Imports
we're landed at this point. the National Imports of
Mercbalds. for the last fiscal year amounted to no
lees ii an Three Hundred aud Thirty Millions Of
Dollars, or more than Sl3 per head for our entire
population. Meantime, tbe Exports Of Produce
and Merchandise from this port amounted to but
Eighty two Millions during the last year-aR in
crease of but Two Millions upon those Of the gear
preceding to balance an increase OF nearly Twenty
three Millions III the Imports. Tue We balanced
the account after fashion, by exporting over
Forty Millions more Of Specie than We imported,
While during the preceding year the excess OF
Specie Export was but little over Twenty Millions;
but This large Export Of Specie, though better than
running deeper III debt, has made tselt felt in
relative scarcity Of and pressure for money and
further depression of Securities Ii IS certain that
We produced, during the last year, rather more
Specie than expoted but this does not upset tue
fact that the rapid expectation Of this Specie has
embarrassed and crippled Us. Besides, IN bainc-
Ing cur international account We must never for
get that our Stocks and Bonds held abroad-ln
other words, our Foreign Oebts--dfaw heavy
interest amounting, we estimate to considerably
more than Twenty Millions per annum. In Otner
words, We must expert some twenty-five Millions
worth more per annum than We import, or We are
sinking deeper ard deeper in debt.
". Now We reach the redeemng feature Of this
exhibit. Though we have imported excessively
during the last year, we have not yet consumed the
excess nor have the consumers purchased it. Ga
the st inst there were Thirty five Millions worth
of Merchandise in bond at this port than there
was at the beginning of the last fiscal year. Doubt
less many of these goods bad been ef; in bond in
der to prch by the reduction of duty under the new
Tariff which took effect on the LIST inst.; but still
the fact remains that the goods are Jet IN first
hands, and may belong in good part 10 foreign
owners who have shipped them hitler "a specula-
ton The City may or may not have these to pay
for: but the Coul Try, unless il buys them hereafter
certainly will not.
V. The Harvest prospect for the current year
is now good The Wheat AID Rye crops of the
Southern States are already secured, aud are deci-
dedIy good. The Hay crop of the North is like
wise good and beyond contingency, the harvest
having begun and the weather being now fine and
settled. We are to have good Rye crop undoubt-
edly. and in the main 8 good Wheat crop also.
Corn and Gotten are both late, and may be dam
aged by early frosts; but then or Cotton is mainly
exported, and short cr,p brings as much as full
one. If Corn should fail it would be National
calamity; but sixt, days more Ike those we ara
now ENJOYING will give us an average crop, making
due allowance for losses by the rottins Of seed.
Potat,es never looked better throughout The coun-
try, and there IS ample time yet TO mature all nsn'
ner Of Roots and Vegetables In spite Of oGr cold,
vet, backward Spring aud our dfencting, chilly