New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1857-12-30

must therefore be sent and IL must a. usual be
drawn from the New-York banks, and II will COO
tinue to bedrsvn for shipment until their stock sinks
TO SIX or eight millions In the present condition
o. the foreign debt, thOse banks become mere half
way houses of deposit for spees in transita between
| the interior Of our own country and Europe. They
have no more permanent hold upon il than the
country banks have, who are now compelled to pay
| il into New-York. The deposltors in your banks,
holding them in absolute check and seeing this con.
tinued reduction of balances, will take stand as
they did before, and compel them again to suspend.
Free trade will tina again PROSTATE these institu.
tons, and their prostraton will keep all the banks
in the country in state of suspension. The ope-
ratiOns Of free trade being governed BY fixed
law of national Impeachment, this law will con-
tinue TO act 10 the Gripping of the banks long
| it ia permitted to exist. The banks be il under
| stood, are not the bameworthy parties, for they
undoubtedly do the best they can. II is the Gov
eminent, which does the worst II can. 10 whom the
odium Of this demorsizing policy belongs and You
can hope for beneficial change for labor or busi-
ness, no stability in banking no certainty thst in
dustry and enterprise will be rewarded as they
should be, until its freetrade dogmas abandoned.
Spring will bring no return of prosperity, Summer
no profitable harvest until the Co. 'rnment turns
right about and repudiates the folhes of the past
| twelve years. As your community is BY this time
proof against panic, this expression of opinion can
| do no harm, and may be worth putting on record.
Mr.. Careys admirable letter to the President-his
first one, mean-is the most compact and lucid ar
gument on this subject that even his luminous pen
ever produced. His conclusions, from the premises
laid down, are inevitable and impregnsbe. But il
is throwing pearls before swine. Such things fall
st-born upon the cottOn-stufed ears Of the powers
| that be. The race of great men at W ashlngtOn
| died out with Clay and Webster, and to them
generation of feeble Lilliputians has succeeded.
But principles are immortal, and shall yet live
TO see the veil lifted which now obscures the right
ones, and with their ascendency n,S era OF pros
| perity for the whole people inaugurated.
Yet in the face Of this long prospect for depres-
SION there are unmistaknbe yIdences Off revival IN
! some branches of manufacturing business in and
| around Philadelphia The number of the unem-
ployed is certainly less; we hear of numerous fac
| tories and founderes which are increasing their
forces; the various savings institutions have fewer
calls upon them for money, and the stream OF de-
posts in them is Increasing in volume. All these
| circumstances go to show that the panic feeling
at least has entirely departed and that so far as the
| mere necessities Of the community are concerned
there is an equivalent revival. The extraordinary
fall in cotton has stimulated much of this improve
ment as it can now be worked up into some fabrics
at profit. But there is very large nu hu y,
| female servants unemployed, ana whoever nsPPch'
-, adxsrt.e for one ia overwhelmed with applicants.
| They can now be hired at lower wages than SIX
'iTi r. settled fact that Mr. Buchanans course
with Kansas is repudated BY thousands of his party
here and Throughout the State. You hear this sent.
ment expressed freely and without hesitation by all
classes of Democrats except the oice-hOlders. The
interior press sends back almost unanimous echo,
| and there il q sOrry time among the faithful. In
vain the Government organ exhOrts its readers and
| applauds poor Bgler. You wonder at Blger 5
courage and impudence in boarding the Douglas in bis
den But you forget his personal antecedents. Big
| Ter is an old Susquehanna lumberman, accustomed
to running lumber down that river in the toughest
weather, and mngling ri. right good fellow with
the wild and outspoken body of men who do the
| hard work of that labOriOus business. No ragged
raftman ever fiuttered of March day in more tat
tered inexpressibes than he, tramped along the
tow-path in more shochngly bad hat. So you see
| the man has by long usage become perfectly ill.,
| durated to hard knocks. The complexion of his
mind has sympsthized with the rough experience OF
| his physical being; and knowing that ne can bear
| more than other martyrs he has thrown himself
into the breach been there OutrageOusy licked, and
is the only man who has not found it out. The sim
pliety of his character is charming. He is egti-
mate specimen of the dull tools which this ocOiocO-
ridden State has for so many years chosen 10 repre-
| sent her in the national councils their capacity for
good being extremely limited, while their proneness
| to evil knows no bounds.
| The reception given to Mr.. Douglas by the Dem
Ocrats of this city was extremely cordial lie
must have been highly grstiied by the good feeling
| manifested toward him. II is clear that he is gath
ering strength in this quarter and throughout the
State and that the lapse of less than the sixty days
which he gave his friends in Congress Will witness
| a cayng in sufficient to annihiate the Lecompton
fraud. II is not the policy of Walker Douglas and
| Forpey 10 make breach, but to create division,
| amcabe on its face but in reality runous to the
| Administration and the Fire-eaters. Though cour-
teous now, they are yet defiant; but if further
proyocstions are persisted in, they viii assuredy
move of in body and set up for themselves. A
| great demonstration of the Sham Democracy was
attempted last evening at Jaynes Hall IN Chestnut
| street .to ndorse the Message OF President Blu
| "chanan especially that part of it recommending
"the speedy admission of Kansas as State, under
"a Constitution framed in pursuance OF lawful
| authority" This non-cOmmittal sort OF call
| allowed even the Douglas men to sgn II, and so
| some three columns of names were paraded IN yes
terday's Psnusyirdndn. Col. FOrneTs Press took no
notice of it whatever. At the meeting itself az the
old hacks of the party appeared as peakers and the
whole affair was an Out-sndOut DtOrsement OF the
Leeompton swndle But the harmony Ofthe gather.
| ing was BY no means complete. large portion OF
the meeting was evidently in favor OF Mr.. Douglas,
| and gave repeated and audible demonstrations oil
| this preference. The Democracy has gained no
strength by this display, and it vii now be followed
| up by reactionary movements III opposition.
! What On affecting and impressive warning 10
| Young men 10 presented by the ease Oh DOnneIy,
| who Il 10 BIZ hung in New.Jersey on the 5th OF
1 January. You cannot imagine tns feeling which
his case excited in Trenton while the Court OF Par
| dons was celebrating on his application TO have
| the death penalty committed 10 imprisonment Tor
| life. His aged father was there during the whole
- a.. tha ttaf