New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1857-03-14

In utteripg our word Of warning against the
teIder cits Of our time to great Commercial Re-
yusiop, We have no desire to stigmatze all Enter
prize as reckless or inveigh blndy against Luxury
They who have so nearly covered our land with
Railroads have done the world good service: We
would gladly believe that they have also secured
fair return f their efforts and outlay. Yet the
fact staIes US in the face chat all the .oroaa' In
the old Thirteen States could no. be sold this day
for two thirds of their reported cost while many Of
them are lot worth even their debts. Those Of the
New States are more productive; ye. even good
share Of these heav y in debt, with their stocks
nsiderably under par. The lands and products of
the several States are increased in va'ue - the full
extent Of the aggregate losses by building unprof
able Railroads. but one portion Of the community
has paid the losses and al other secured the profits
The Plank Roads, so plentifaly constructed ten
to fifteen years sgo, lave never returned,
aid never will return, one third of their
cos. to tbee stockholders. All the Manufactures
to day existing in the country could not probably
be sold for seventy five per cent of their cost. Pur
chases Ct Unimproved lands have generally paid
better; but the unty is full Of real estate bough.
on speculation which could not be sold for any
thing near lis cost Wherever lucky hit has been
made in buying and selling shout Of exultation
reyt rberates tbroughou. the Journals; but the mil
lions worth of tracts and lots bought in anticipa-
ton of rise al which cannot be sold eIcep. at
heavy loss are simply and quietly held, and nothing
said about them. good many men have enriched
tlem.eves within the l,st ten years. while much
larger number think they have; yet the weekly
reports show that ZONE two to three thousand
mercantile firms in this country fail every year,
even in times of general imitation and seeming pros
perity. What must be- the probable number in case
of sudden and violent contraction of the crculat.
ing medium to the extent of one fourth to one
blfl
We say then, to our young men, our wealth
seekers, our aspirants to live easily and genteey,
Tbs IL no time for embaIkiDg in trade or plangng
into debt. 1t is indeed possible that you may sue
coed in such course but it is highly improbable.
To-day the world urgently needs more producers,
more cultiyators, more laborers, with fewer traders,
brokers', e1cbsUgers. Our peop'e must ease off in
buildiT railroads, ard grow more wheat and cattle;
we must eitt er fabiicate cloths and wares or
ttat Europe will take Of US at living prices then
we must buy lees Of Europe or inevitably run under.
Railroads. ale excellent thngs-we ought to have
more and more Of them-but they will hardly pay
debts TO British manufactures and bankers and if
they would, this would only postpone the payment
of ,uy FL, az yde not ~
The shes ale gloomy and lowering: We mus.
shorten sail. lie. Us each resolse 70 reduces the
amount of our ou.t,ndng obligation, as speedily
ard rapidly as possible and q. oil events no. 10
cIease IT, Let US buy les', AID pay our deb.s as
fast as we can turn properly without ruiaous sa:.
IiGces Let Us plant more ard till better; let US
put off expensive building AID all other outlay that
does not promise quick returns Until We can do so
owirg no man anything, and paying as We go. IL.
US run up no store bills but endure some prlvaton,
forego some LdJlger ce, rather than founder on in
barassirg debt. Let uhi;edly resolve, in spite tf
ar.ipgufpg speculation and cOntsg ous luxury, th,t
we Will owe less ear hence han We do now and
avoid the mistake Of counting q, realized wealth
premises 20 psy tina. are iuperfecty secured and
nay never be fulfilled. lie: Us fee tia. q hundred
6Cl,r. per aunum actually male BY the swea. Of
our brows eye better than thousand won by hazard.
GU. speculatcns which tempt TO extravaganza and
dissu.de from honest work. lie: US send our youth
n'o lie field, the chop, the nine, the f.;tory, and
isach hem to htv out their several paths to COM
Itttuce BY anfu EXERT Il. By ihus a. once in
cressirg the proportion Of producers and diminish.
irg tba, Of useless consumers, we may yet avert
the storm that now rumbles in the distance. We
hoy a, the IS. ,a-e ourselves seytraly from is
worst devastsliops but unless there be so ne DE-
cted charge in thi; direction, crash seems p US
inevitable.