The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-12-27
The Panic and the Crisis Resolved

Observation-Disclosures or CAPITAL AMI
lBoR FROM NEUTRALITY-SUSPICIOUS. OF
ETIES -THE FINANCIERs AND SPsCULAToRS DECI
iTED-THE PROSPECT FOR THE RESPECTABLE UN
RLoyEp-RErREAT TO THE RCRAL DISTRICTS
&c.
crash and confusion of the recent financial lorna 10
80 far passed away that cool inventory OF the
consequences has become much more practicable.
disasters and trials which have done their work 80
have produced among other good effects, one result
h must eventually be Of the most sslutary advantage
presented in the fact that the industrious classes
been 30 decimated as TO force agenerai closing up
eir ranks ito the exclusion of large numbers who are
ed either place countsnance in the new array and
nizatious OF the business community. Those who are
shut out have either fallen in the late pressure or
been forced out ofplace, superuous, by the
rded condition Of their respective pursuits. These
opns generally carried with them they fell aside,
Z, or less of the wreck of their means, and are now
ting some fresh openings in the avenues OF their
Ter vocAtions. The latest phenomenon Of the recen.
8, therefore, is the debouching among of TIL
hnx OF bankrupt merchants, exploded spectators,
en- bankers and brokers, stock and railroad
.ators, with their attaches, legal and other pro
aonal shysters, garroted jobbers, drummers, sales
\, shavers, swindlers-Ali the host Of ''suspenders
pm every overcrowded avenue OF traffic, luxury aud
uiaton. Each day only adds to the numbers OF Ia
I'd, intelligent and educated men, who are reduced TO
ranks OF the unemployed" whilst the certainty be-
es positive for them that no fair show Of
al, credit and skill make head profit in the
trades and professions from which they have been
Lded where . stable position is not already cstab
I'd. These calliDgs are disproportionately overrun
until an equilibrium is again restored by return TO
ulture and its kindred pursuits the existing evils
/ continue. AS We find in the ordinary market re-
a key 10 the current prices in the amount OF sup
, so II may he seen from glance At the census and
distribution OF industrial pursuits that this dspropor
t1 Efrtl n
Observation-Disclosures our bank mutations, our
Drts, railway operations and the panic itself.
re already indications that this state of facts
lore or less realized by respectable unemployed
attention is beginning to be turned from the ave
OF traffic in cities to the really produc-
n activity and independent stability of agriculture.
n in the end will deveope the great '.lessou of the
&C." and provide the chief benefit Of its dispensaton
ssIFIcATIoSs or ISDusrKy-GREAT DECIINx AGRi
CULTURAL POPULATION.
Ae relative distribution OF labor in the several cassa
sns OF national industry presents very alarming
ease in the proportion devoted TO agriculture. With
recurring to the earlier years OF the republic, but
the census returns since 1920 very large relative
Inc il not actual decrease in numbers, for ten
en- years Just past Is exhibited New territories have
purchased, explored and organized new States have
formed admitted annexed TO the Union; railroads
| mboats telegrephs-materal results the most Won
ui-haye become common place; the population of the
ed States has more than doubled; and yet the proper
of persons engaged in agriculture has fallen OF from
sixth OF he whole to ninth of the whole;
.tiye decrease of nifty per cent The census Of 1920
the in which classification of industrial pursuits
made out. This classification omitted in
the census of 1880, but resumed in those
jng ii. The proportion OF persons engaged in agrcu
after deductions for women, children and slaves is
I'd to stand thus en-, 90. -
bic population. s,e3s,1al 17069,453 23263 ,4ss
aged in agriculture. ,45a l72 2,569,S53 240o, $50
~ of industrial popu
Lon ........'.... opo3o,oos o,oi,oto
Ne Increase in the agricultural population shown in
~ divided with the previous census of 1880, will allow
II half million for each since 1920, whilst the
$3.50 would seem to show an actual decrease. The
kes for each period have been reduced to the same
N-that of the returns for 1880 In the OF
the proportion Of the industrial classes engaged in
culture about seventy per cent; in 1850 II Is re
ID 70 about forty four per cent This falling OIL in the
= OF our agricultural population has undoubtedly still
continued during the seven years since the last
sus, aud il may be questioned whether at this mo
st. the per centage of our Industrial population lex
ing slaves engaged in agriculture, so very much ex
Is tina, Great Britain, which ranges about thirty one
tcent, The growth OF the commercial, manufacturing
mechanic classes and non producing aborers
ough irregular and huctuating, has greatly
k,rbed the natural growth Of our agricultural
aton. II is to be regretted that the census has been
Erregularly and unskifully compiled that the distr
on or population in the several industrial classes Is
exhibited in three out of the seven general returns
Ee 1890 No other classiications OF our national re-
could under existing circumstances have so direct
m ncaton as to the prosperity Of country. The
re classhcatons We have even require iaporious re
ions and averaging to put them 10 intelligent form.
'ssKRlroS or rE RURAL DISTRICTS AND THEIR pkPorV
RAuON ..
ere then the fundamental solution Of the present de-
Element d business. IL underes the bank mutations,
ing and excessive importations the ext ,nson
edits the railway mania, and all the other extrava
ICES ~ which difficulties are more immediately con
lent A indicated in the returns OF the census Tor
and that Of iS40 there would seem ID have oeen up
he latter period, heathful and for all that appears
regular growth OF our agricultural community
era stampede would then seem TO have set IA IRON the
al districts towards the towns and cities. Aside from
exhibit Of the census given above, the rapid rise OF
experimentation New York 10 Chicago, from fhiia
pha 10 st. IOus-shows the predominatng tendency
ch has resulted in comparative depopulstsn OF our
)ns and agricultural villages.
nseed it does not require citation OF the census TO
trm this statement TO any person familiar, for ten or
Zen years recollection with almost any OF the purely
cutura sections OF older States. IL has become
rly nvarabe for every young man OF Intelligence bred
k,ur farms especially II he has had educational advan
b, TO abandon home az soon a. possible Tor the ave-
q Of traffic and Of city fc The farm u sold, or rent
or mortgaged by him or hs fond and foolish parents
,royide the means for this end The Irish or German
grant can have possession OF almost tract Of land
ar Northern states for consideration which will main
the heir 10 the estate for few years ut city board
house while he pursues his chances apprenticeship
rsde or seeks the impoverished Responsibility OF some
rcrowded profession All who are familiar with the
Irior Of our older states will attest this The great
iernesses OF Northern and Eastern New York, the
/ forests and hre-barrens Of Central and West
Pennsylvania the depopulated fields Of New England,
abandoned plantations OF virginia, and the splendid
OF Georgia aud the Carolnas-all attest the central
~ tendency ~ population towards the towns and
rs 60 the neglect aud comparative decline OF our agr
lure.
ABSTRACTION OF LABOR Axn CAPITAL FROM AGRICULTURAL
INTERESTS
he boosted growth Of cities IA matter Of common
Re aluson. The multiplied populations Of New York,
sicipna New Orleans Cincinnati, SC, are familiar To
They have increased from two 70 three hundred per
I since 1880. The neglect and comparative depopula.
Of the farming lands IN tho older states Is not 40 well
Jwn Tho returns tor 1850 Of the lands occupied snd
ned AZ farms show ut least feature bearing upon
The Oldest and best settled Of the states present
zrestve parallel In the neglected condition OF their
M lands regarded in connection with the decrease in
ratio OF our agricultural population. For instance in
following leading states =
acres under Tnimprorsi
Caltirufion. and Neglected
" York has laid out In
arms and occupied. 80. = IL ,tos96s o,IlolZo
ansylvania. ............. s,62s6ls o2a ~
ssschusetts. ............ 2,l33,i36 llZZ,oIo
sina .,................l0y3 d0,135 l5,Tz,l,o
k,rg,s .. e3JsA5o isal2, 200
|nt,cky . l.. =. ........,...t IL .3ss .2Tu l0,sI2,41S
his IL M exhibit of "farm lands only, and does not
lude the Wild public lands The total OF farm lands
uay occupied in All the States and Territories "a rem
red 10 1850 il 3o3 oTsa gro acres, of which lls45I 6s2
es are improved, and Is. 62l 3ts acres neglected or
Improved being about Ave cighihs Of all the farms.
IL not necessary 10 enter upon demonstration Of the
wious fact ths the abstraction of labor and capital
ouQh the channels Of trade, speculation and city
sNf na