New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1857-09-22

HENRY L. BURCHARD, Oneida Co.
Republican State Committee.
We have already urged upon our bankers and
capitalists the importance and urgency Of O con-
certed and spirited effort 10 aid Of the prompt and
general movement of Western Produce to the sea.
board; but the need is 80 imminent and the danger
that attention will be distracted by the thousand
incidents of monetary pressue is so obvious that
we make no apology for recurring to the subject.
We are suffering at this moment not 50 much
from d deficiency Of currency as from an excess of
debt. The West owes the East the Interior
owes the Seaboard; the Seaboard is in debt to Ell
rope. Up to this point the West has been unable
TO pay, for want of the wherewithsl. Bank notes
do not really iiqudate the debts of country to coun
Try or section to sectOn; they but counters en-
ployed to facilitate the process. As between two
individuals debt may be paid with notes or with
gold; but Indiana pays no considerable balance to
New-York or Birmingham with either of these, but
with Grain. AtleDgth, after season of dearth and
vacuity, the West has Fifty Millions of bushels of
Wheat ready for market, or so that it may be
thresbed and got reaoy at a weeks notice. The
growers owe their local merchants; those mer-
chants owe our jobbers who in turn owe the im.
pOrters who owe the manufacturers and bankers
of Europe. Let this Wheat be seut rapidly for.
ward to the seabOard aud in part to Europe, and
wholesome process of general liquidation will in
evitaby result, afferdpg relief to all solvent par
ties. Business will revive; our canals and rail-
roads will realize increased transportation and re-
ceipts; our ships will have Heights, and there will
be every where diffused and felt joyful confidence
that the worst is really over.
But all this cannot be properly effected without
money, and that money is not now Obtainable at
the West. Some two weeks ago, on the heel of the
first failures, and in the midst of the severe con-
traction in this city, some Canadians slipped over
to Chicago and bought Million Dollars worth of
Grain for about three-quarters of Million. They
have in Canada habit of buying Illinois Spring
Wheat for home use, and selling their own Winter
Wheat to Europe or this city for some twenty-five
to thirty three per cent. more, saving handsomely
by the trade. Having courage and money just
when they were short on this side of the Lakes,
they turned these qualities to good account, was
right.
But We cannot afford many repetitions Of this
coup. Grain is now twenty per cent. higher in
Chicago than it was when that neat operation was
made, Jet Wheat can now be bought in Chicago,
shipped to Liverpool, and sold at net profit In
our Judgment, it is as low as it need or should be;
and arrangements should be at once consummatea
for the purchase with cash in hand of every bushe
that living prices will bring to a railroad. We
baye some two months of canal navigation yet be-
fore us, and during those two months Grain and
Flour should come forward with unexampled ra-
pidity. But, to secure this ii is essential that
the proper buyers shouldbe supplied with funds or
upexceptionable credits.
The providing of these by our Bankers under
proper regulations, will not embarrass them. On
the contrary, it will strengthen them. A weekly
receipt Of Five Millions of bushels of Wheat, or
its equivalent in Flour, would relieve our Banks
from their only serious danger-that of q resump
ton of specie shipments. Two Millions worth of
Grain or Flour shipped weekly to Europe would
Obvate all necessity for exporting specie. 1t would
80 far to fill the awkward gap which naturally iu-
teryenes between the shipment of successive Cot
ton crops. At this season, the Cotton of last year
has gone forward, while that of this year is not
ready to follow it, and will not be for two or three
months. Nor can the Corn crop of 1857 be realized,
no matter in what shape, before Winter But the
Wheat only awaits proper inducements to move on;
and these inducements should be promptly and ade
quately supplied.
We trust these suggestions will not pass our
bankers and capitalists UNDECIDED. Important is
sues seem to US to hang on the promptitude and
vigor wherewitb the needed action is taken There
is growing skepticism as TO the utility Of Bank,
of Issue which will yield only to the logic of events
and there is excellent opening for its refutation