New-York daily tribune., 1857-09-28
FROM WASHING TON.

WASHINGTON, Oepl. ~, 1901.
The melancholy days have come, And the panic
RACES like the pestilence. Phsde phia having fallen
who shall now be safe There is report that
the three banks Of this place, operating upon the
ghosts Of departed charters, have this morning re-
solved to close upon depostors ard note holders The
private bankers Withstand the storm bravelY. The
failure of Pairo g. NOurse is bad one, but was
caused by sPeculatOns in Western lands. Cor
coran & Rggs, and Sweeney Rittenhouse Faut q
Co., are the principal houses doing irregular banking
business. They safe, but suppose would bend
like reeds to such tempest a general sus
pension but would rise after its strength should
have been spent.
Times like these demonstrate tt wisdom of the
Protective Tariff policy, that is, simply the policy Of
making and buying at home, which THE TRIBUNE
and the Old Wings persistently urged. We import
$500 OO0 coo worth of luxures and necessaries, of
which we ought to produce $3.50, 900, 000 That
Sl5O, 900, 600, which we send out to purchase what
we ought to make is so much annual loss of capital
is in effect 80 much wealth lost to the country.
We sent out last year S57 900, 900 more specie
than we imported When the Protective Tariff
Wings passed the tariff of lS42, upon the principle
Of protection they said the country would prosper.
perseded by the charatanry of Free.Trade expert
meDters. Mr. Walker said his tariff would increase
the imports and exports one hundred per cent. The
protective Tariff Party said that if it did, the country
would be impoverished by it. The 100 per cent. in
crease has come. The ruin We predicted has come,
and it would have come long ago but for the dsc0v-
cry of gold in California. We have had from that
source an average CISCO 00O coop annum for eight
years making nearly $500, 900, 900. Now all that
before undreamed-Of wealth is disspated--where is
it? 1t is gone, no knows whittier And yet
we do know II has gone for Paris frppery, for iron
mongery and pottery fannes, brOadcoths and baizes
all of which could and should have been made here
Now, the crash will be universal. There is no
doubt about that There will be Immense suffering
among the poor people who preferred that English
men and Frenchmen should do their work for
them to doing it themselves; and things will never
be settled upon firm basis till come back to the
principle Of protecting national industry. In the
mean time the surplus in the Treasury is gradually
melting away The operations for last week
were: .,
Receipts. $9S69s o.
Surplus. 1Si a9a 3,
Caring my self but little about the General Gov
ernment, but everything for the individual rights aud
liberties of the people, which can only be eectually
guarded through Jealous preservation OF the rights
of the States wish to Impress upon the people OF
Tue NOIln tudt tue TtutIdi OONcIuuItHt H7o
upon their folies. The surplus deposited by
them. Five.siAths of the luxurles and nonneces
sares imported for the last ten years have been for
Northern consumption. The habits of $50, 900 slave
holding families at the South are extrayagant
but those of the mass of whites and all the slaves
are simple and economical. They consume very
little of imported merchandise. And yet with stupid
beedlessness we have allowed to be piled up from
taxes upon ourselves, S22 000 600 in the treasury
after an annuul expenditure of S75,OOO,OOO, AMI
that surplus is being now devoted to wars upon
Free-State citizens in Kansas, to wars against In
dian women and children in Florida, Texas, New
Mexico Arizonis, and the Western plains. We
have contributed the treasure used for these pur-
poses.
The lst Of January is the time supposed to be
fixed for the recall Of our principal Ministers The
list of removals and appointments is understood to
be nearly completed aud suppose all contemplated
changes will be communicated TO the Senate at one
time.
The absurdity Of the reported verbal communica-
tions TO the Ministers of Costa Rica and Guatemala
about damages claimed by American citizens against
their Government during Walkers wars is shown
by the fact that neither of them has been here for
two months. PEMAQUID.