The national era. [volume] (Washington [D.C.]) 1847-1860, 1857-11-26
THE MAIN QUESTION.

AAo HOuetary pAnfc mas subsidized. The
" hard times" will not continue long enough to
enable the Anticipated Wings and Democrats to
revive old issues. The Bank statements of
New York city for the week ending the 18th
showed an average amount of specie of near
twenty millions, and circulation of only six
and quarter millions-the largest quantity OF
gold and silver on hand since August, 1853.
Every foreign arrival adds to the amount. The
New Orleans banks resumed specie payments
on the 18th. We do not see why the New
York and Boston banks should longer postpone
resumption. The money market in those cities
is growing easier, and funds are beginning to
be invested largely in stocks. Breadstuffs and
provisions are arriving from the West, to hqui
date debts due Eastern creditors; and mills
and manufactures, temporarily suspen ded, are
resuming operations. A leading cotton manu-.
facturer says that there is not a three month q,
supply Of cotton goods in the country. The
probability is, that before the session of Con
gress, the various Industrial enterprises of the
country, suspended under a Temporary panic
or pressure, will be again in operation, or in
full preparation. The Hunger Meetings in
New York have had their day, and are now re-
garded with contempt. They were composed
in part of really needy men, chiefly, of dema
gogues and rowdies. Stirred up by political
tricksters, at one time they threatened to
plague their authors; the oftener they paraded
their grievances, the more they betrayed their
real origin and character. Committees have
haa tod ~ al 81 J..
the real extent of restitution, aud measures
will undoubtedly be taken TO find work for those
who need and honestly desire it.
On the whole, there will be little left for wise
discourses in Congress. Members who have
been preparing themselves to improve the
crisis for the enforcement of speculative dog
mas, and constructing elaborate plans of relief.
will have to reconsider their efforts. It will he
hardly worth while to shoot the bush after the
game has flown. The country, having recover
ed from terrible reverse, without the aid of O.
United States Bank, or Protective Tariff orr
neighbors of the Latelligencer must admit that
there is not much prospect Of the revival of the
old Wing party. Since the patient has GOT
well without the Doctor, we can dispense now
with his prescriptions, and trust to the natural
force of his constitution. Even the vagina
cancellations, concerning excessive credit. pa.
per money expansion, extravaganza, and hard
money, which We are prepared by Rumor to ex.
pect in the Presidents message, will be some.
what after date.
The people already understand the matter
pretty clearly by experience. They have lived
or borrowed beyond their means, and buried
too much capital in wild lands, and paid too
high interest-and the Banks have nightly
helped them in their imprudence. They do
not need Presidential harangues on these topics.
Bat, if the President has any definite plan of
action to propose for guarding against such
mischiefs in future, let him be specific. If he
believes all banks of issue chartered by the
States to be unconstitutional, let him say so, and
boldly recommend the appropriate remedy. If
he is in favor of hard money currency excla-
slVeiy, let him say SO, and recommend a plaa
for establishing such a currency. We do nat
expect to see any definite positions of this kind
taken IN his message. Certainly his Party has
never come up to them, nor does it now en-
brace them. As Party, it has sustained the
paper-money system, and it ia not now prepared
to abandon it. 1t is always ready to raise q
clamor against banks and protection, but never
ready, when it has the power, to establish Free
Trade and Hard Money. Those who anticipate
any decided policy on these subjects, from its
action in the coming Congress-, will be disap.
pointed. Gladly would it initiate debates, cal.
culated to divert public attention from the infa
nous conduct of its friends in Kansas, and from
the policy generally of the Slave Power-de-
bates in which it might win by cheap declams-
ton the credit of being the only true Econoui j.
cal Party of the country, and provoke the r.,
pubEcans to assume all the extravagances II