New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1857-10-15
THOUGHTS ON THE PRESENT FINANCIAL
CRISIS.

To the Edito, Of Then. y Tribune
SIR: Your structures upon communication under
the above title published q day or two since albeit
lacking tie civihty due from editor to correspond
ebt would have been entitled to weight had there
been evidence that you had read, with any attention,
what you 20 unceremopiously condemn. Such gen.
ersltics as " shallowness commonplace, &c, are
stae and unmeanDg epithets, SER ring the same pur
pose as shake Of the head, which is an artifce OF
some to express they could say much upon the subject
if they would.
My sllusion to the banks was merely incidental.
The primary of the present distress did MOI 60
into ct all. / propose to co go summary now. But
fret let notice what you say Of Mr. Careys essays.
remember very wei those essays, and was not igoo-
rant of the authorship But what that TO the ques
ton was discussing1 We have had many newspaper
dnQuisitiors, and many books on political economy.
These furnish Instruction to men OF thought and re-
search; but to the public generally, newspaper artl.
Giles published five years snce are as recondte az the
more elaborate works Of professois-n.y, even more
So for the latter can be found in many hbrares-the
other cannot be got at without sonAe pains. THE
TRIBUNE has furnished many other valuable specus.
tons upon FL and commerce beside the essays OF
Mr. Carey. But in respect to all these, have only to
say that they dealt with principles rather than imme-
date results. They were prophecies Of what must
ultim aely come but lot of the time when they could
be looked for. The American mind like that Of the
Atheban though EASILY agitated by fear Of disaster
ne at hand, is little moved by what is remote. In
the strife for wealth power, present success en-
crosses our thoughts TO the exclusion OF future re-
verses, even If such reverses should be certain.
No vaticination would have been regarded that
should have preir dcated the year 1857 as the time
when ali the evils that had been foIeshadowed should
fall upon US. But no oDe was president OF the
future as TO make that prediction. 1t idle concet
Of newspaper edttrs that they always so ager to
claim that they have foreseen ard prognos;cated oil
that has come TO pass. This pretenon exhibited al
nauseon by print In this city, with which you do
much hafeuiZe, would should suppose, repress any
siu liar tendency in newspapers of much sbity
Let The Herald be left to the sole enjoyment OF what.
ever can be derived ffom such arthecs.
AND while referring to that newspaper, Will take
the occasn to say that mercantile community have
much TO charge themselves with for the countens 20
they have given it, and they realizing the ef-
feet Of malgn influence ~ which they have them.
selves in email degree contributed Without some
prestige, such i. derived from the nfatuston Of re-
spectacle men, that paper would have been 20 werless
but with the reflected consideration which it has a
CURED by morbid neres. Of many of the better class
Of immunity in Its INSCRIPTIONS money articles and
reckless depredations upon private life, IL would have
been regarded as q "TbeIsites" among newspapers
laughed at for its buoonery and menosoty but utterly
disfe garded in grave deliberations upon aairs OF mo-
msnt II may now more properly be designate as a.
"Eiostratus" who has fred the edifce Of publ,
cedit-for Il does not admit OF doubt that il hiss
continual as sauts upon all moneyed institute nss
undo mined popular faith in their stability.
tits NO, my puIpose 10 enter into al extended spec
uaion upon the causes Of the present crisis, but to
contribute some stons that tend to clear under
standing Of our actual condition.
i. IL easy 10 talk OF overtredi0g but et us x cur
DiLds upon ~ p!ae,ts -isaLirs' .re-se s9--: "a