New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1857-03-13

Hurdrd Million TO the Specie 10 existence no"
UGH Of this has already taken on the form OF r"'e
Watch csse., &c, we can only guess; bay VIC &C.
innate It at Two Hundred Millions, leaving we
Hundred Millions IS the practical add ion 90 Inc
words supply Of Specie. It is no' too mucn "
estimate the eIpars sion of the words Circulating
medium bssed on this increase Of Specie a. iupy
One Tboufsbd Millions OF Dollars; add il proos'!
exceeds that smount. The geieral ebhslcemen' VI
prices y bich this cycle has witnessed was conse-
qutbce Inevitable.
1t is by no mears our belief that the apparent IN
crease Of wealth utder the impul:e OF this e1Pin'
son Is wholly fictitious. We have no DOUBT 'os.
there are more coumodious dwellings, more and
better fur niture mere books, and far mere mules OF
railroad in existeoce c-dsy than there would have
bten if California ard Australia had held fast their
golden treasures to this hour. Yet we dou'. wne'n
er our own country has really pro6ted by tue gen.
eral iDnaticn. We have to-day more gold perhaps
but fewer acrts Of tilage, fewer factories in opera
ton. and smaller aggregate annual product, than
if California had never yielded an ounce OF golo'
For that gold has enabled US to persevere 10 mis'
tslen cODrse which, but for it, would ere this nave
wrought out its own cure it has enabled US 20 buy
Foreign Wares and Fabrics by wholesale walco'
but for California, We could never have
ps;d for Ior even bought on credit. Hence,
opr Mai ufsc urts lspgui.h in the midst Of general
il dusfrsl activity and commercial thrift; hence, we
have scarcely heard of a new dam baiit over any
considerable river for mat uactutipg pur poses since
CuIif,Inia bschtd by her iDgoss tho Tar # Of 10,
spd While our annual consumption of Fabrics has
nearly or quite dubbed, our production thereof has
scarcely increased. The war of the great European
Powers created temporary market for our Food
which materially aided 10 balance our account with
the Old Word; but this is now ended, aud Europe
requires from us but moderately Of Grain and Meat
wblle eagerly taking larger and larger supplies OF
Colt n. The present probability is that, while our
Imt OTIS for lo57 will largely exceed those OF any
former year, our exports Of Food will f.ll below
those of lsst year, WHEN Mr. Secretary Gathrie's
books showed balance of Exports over Imports
which must bave BEEN Ilusory. For, if We had
really cod more than we bought, Wa must
have sfmeghat reduced our indeb 'edDess
abroad; whereas the negotiations Of Mi lions worth
of Ralnad b nds-SAte, county, city ADD com
pspy-proved that We actually aud materially in
cresttdit Now we hear every week of the success
of some Railroad agent in London in "Placing' his
bcnts az 20 or some such figure; wbereupoa the
com " is called 10 feIictate itsef on his address
and its good fortune. New X ,ilroads are daily pre-
jeccf, bid the frs! questi is not-"Wlll il really
pay 2" but " Can We sell the Bonds ?" If yes
all is right and the work goes ahead, often fu ly
fifty per cent excess of cost above wha. it need
have been in each Let the Oldest or the LOUNGES.
of our e. mmuhiies ttsr. Ra lroad-the first in
pu is to rush TO Boston, to New-York, TO Europe
TO re at wi az shave few reams Of bonds can be
,rutked cfi. Leaning On o.heIs is the rule; self
rtlial &c End sefhep are the exception. Europe
staggering under Sn Atlas Of Pubic Deb, aud
il ha'd by her Credit Mobilers, cobiIives, 10 spite
f her obstructive govern ment', prodigal courts,
stancing armies, costly w=rs, sqaardeIiug aris-
tocracies squad and int iii ,ient psasantfies, TO run
US yearly deeper and deeier into her deb. We
borrow and buy on tick of her to The last inch of
our teih,r, and are not ruinous'y in debt TO her
only BE- c.ure che will trust us no fa,ter and Io
foriher Our vigorous youth thus borrow OF her
ssni'e decrepituce to make the years ends meet;
the young heir trades off his expec'aecies a. ruin
Gus rates across The counter Of tho pa'sed usurer
And now crmes our new Tar fl 10 aggravate this
t.LdtDcy by crunblirg down the barriers to i'm
bOrtatiOp, aud thus increase the annual balances
against us. We shall natura ly buy more wines,
more lquoIr, more iron more steel more wool,
more sugar and hardly less Of fabrics, because Of
,hls alteration: and what beside Bonds have We to
.ell in excess Of last year where With b meet the
obligations thus iucurredl Who answers!
If all mankind we're to stop growing food and
betske themselves to building hOuses grading
streets, surveying lots, constructing railroads, &C.,
they might all be usefuly, laudably employed, and
vet half the race must staIve TO death next Winter.
There ale many ihipgs proper to be done this. can
moi be safely done otherwise than by moderate in
aallmtns. We want Railroad to he PAc;f,;
but if Missouri were to undertake to complete one
by 1otO, so as to get the start Of the projected
roads on rival routes, Missouri would probably
bankrupt herself by tie operation. And thus the
projected sys em of Russian Railways may puoee
Europe 10 bankruptcy by drawing of and Luryng 10
the distant ard sto id East specie esseoti. TO the
stability and security Of the dizzy fabric Of c If.
rel cy ano Crtdi; in the West.
The United States, by tie Commercial policy
which iriupphed in 1916, became an append,ge, If
rot an integral part of the European commercial
fabric. The rie OF fall Of Consols raises or de.
presses our StOsk Ma,ket inevitably. The suspen.
SIN of sIece payments BY the Bank OF France
would powerfully S,ct tie solve cy of our Banks;
aid the crs,h of the Credit Mooilier, whenever il
slsl nrnur mill r.v. III. rata tkrouob tha In vast