New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1857-05-12

at revolt in the State Prison at Sing Sing. Sc
rious consequences would have ensucd, had not the
movement been met promptly at an early moment.
-
Whoever would rightly forecast the commercial
fortunes of l-57 must accord much larger scope
than hitherto to the influences of Emigration. The
extensive grants by the late Congress of Public
Lands to New States for Railroad purposes, the
disbursement of Manufacturing enterprise in the
North, and the prominence given in the public
mind to the issue of Slavery or No Slavery
in the Territories have combined to cause an ex-
traordinary investment Of Eastern capital in West
ern lands, and a corresponding flow of Eastern
population into the new States and Territories.
We cannot estimate the number of our people who
will this year erect cabins on Public Lands never
before inhabited by white men below Half Mil
lion, while we judge that fully One Million of US
will, between the last and the next Newiears
Day, have sought homes considerably nearer the
setting SUM-
This immense tide of Emigration will ultimately,
az is generally supposed, increase the wealth and
strength Of our country; but its more immediate
effect will be an increase of the burden of our
Foreign Debt and a diminuton of our ability to pay.
Every emigrant sells off, before starting, the larger
portion of his effects, and thus absorbs share Of
the means which lbs neighbOrs might otherwise de-
vote to the payment Of debts, the employment of
labor or the purchase of merchandise. His re-
mOyal involves perpetual and often heavy outlay;
and. when he reaches his new home, he has timber
to cut or buy forest to clear off prairie to break
up buildings 10 erect, well TO dig fences TO make,
implements and furniture TO buy-n short, outlay
and unprOductive expenditure confront him on every
side His soil however fertile, is wild and intract-
able; what little he plants sOws is got in too
late, and is speedily attacked by all manner of de-
yOurers; and he is a lucky as well as energetic
pioneer if he raises grain enough the first season for
his famy's bread, leaving all other wants to be sup
piled by purchase, and often by running in debt
A new settlement has everything to buy and little
but the previous savings of its inhabitants where
with to pay. All the cattle that can be grown are
wanted for use, and more with them; nearly every
thing that is wanted must be bought and debts ac-
cumulate on every side. None of the Territories
will have anything of consequence to export this
year; Iowa very little; aud Wisconsin hardly more;
while each of them are heavily in debt and buying
goods by the cargo. Beyond Ohio no State will
pay for all it buys this year, to say nothing of its
subsistng debt. Every prosperous merchant is
eager to buy more land, though his hands are al
ready full and those who supply him with goods
want pay for last years purchases and are likely to
want IT, The Northwest grows rapidly that
it ID rather outgrowing the notion of paying its
| debts
The Country is nearly stripped of coarse Grain by
| the length and severity of the Foddering season.
causing an early scarcity of Hay and necessity Of
| resortng to every available substitute. The Win
ter Wheat, taking average of the whole country
does not promise well, having suffered from drouth
last Fall, sharp frosts succeeding heavy rains in
| the Winter and cold throughout the Spring. And
the backwardness of the season precludes extensive
sowing or planting this Spring There is not half
so much land plowed this day throughout the Free
| States as there would have been, could we have
been favored with cold February and warm,
| dry April Unless we are grieyouSly mistaken, we
shall have less food to export from this years crop
| than from almost any other since 1896.
How, then, are we to pay for the Three Hundred
pretty certain to import during 1857!
Cotton may possibly pay half Of it; but that is an
extravagant estimate. 1t were safer to count on
all export of Two and Half Millions of bales, Of
four hundred pounds each, averaging ia cents per
pound-in all, One Hundred and Twenty-Five
Millions of Dollars. If We realize One Hundred
Millions more from everything We can send abroad
except Specie and Bonds, We shall do very we'll
If We export Thirty Millions of Specie, it will just
about suffice TO pay the interest on our Foreign
Debt, in its various forms Of Public Debt, State
Debts, Railroad Stocks, Bonds, &c. If We have
not miscalculated, all We import this year beyond
Two Hundred and Fifty Millions worth, We must
run just so much deeper in debt for while our In
ports up to the LIST of July viii not have fallen
much if any below Two Hundred Millions. We
shall have then Fifty Millions worth more to i'm
port, and as much beyond as We choose 10 add to
our already burdensome Foreign Debt.
Will our importers, jobbers aud retailers ponder
| these figures If they can make more favorable
exhibit, they will do of course but let them not
blndly involve themselves by reckless importatons
sales and purchases and then blame their custom
ers for not paying when payment is physical i'm
| possibility. Not To create panic, but TO induce
circumspection which shall render panic innoxious
or impossible, is the object of this admonition.
| Our Southern brethren are hard to please
| However gently We may touch them they cry out