The Washington union. [volume] (City of Washington [D.C.]) 1857-1859, 1858-07-11
SUMNER AND FALL INNOVATIONS.

SUMMER AND FALL lmfOhIAllONo.
An intelligent and experienced gentleman long and
largely identified with the commerce of New York,
SAYS in private note "The summer and fall importa
tons are coming dangerously, and have no doubt of
therreaching full threeouths in amount what they
were in the corresponding months from June to De-
cember 1857 We have no doubt of it, Every
thing promises rapid and healthy resumption of
trade throughout the entire country and with for
eign States. Those who refer to the revulsion Of
1857, which continued to depress every branch of
business for many succeeding years, and calculate
upon similar results to spring from the prostration
Of last year. overlook three important and controlling
facts the development of which will not fail to put
them in fault at the present time
First That tho great cotton products of the South
were from 1897 and for nearly ten succeeding years.
in condition Of the utmost depression, and all the
people Of the slave States on the verge of bank
ruptcy. At present they are in most prosperous
condition and their products bring high prices.
Second The amount Of specie hand in the
country in 1857 was merely nominal, scarcely exceed
ing sixty millions Of dollars the amount now on
hand is at least two hundred and sixty millions of
dollars
Third The great country now known on the West,
including Michigan, Indiana, Illinois, Wisconsin,
Iowa, Minnesota, Nebraska, and Kansas, to say
nothing of Oregon and Calfornia-the latter State
yielding yearly specie product nearly equal to the
whole amount of the precious metals in the United
Bates from 1887 to l84lthese regions at the last
mentioned period were either utterly beyond
and without population or tax upon the capital and
resources Of the older States They now constitute,
put together, perhaps the most productive and pow
erful empire on the globe.
The Plain Of the Lakes extending westward to the
Mississippi is not only region, thoroughly cult
waited but it is beautifully supplied with railways,
and every implement for carrying on an extensive
trade with the South and East 1t is, too, in high
and irrepressible state of prosperity
With these facts before, us what wonder is it that
our attention is already directed to the vigorous"
revival of our summer and fall importations I"
What wonder is it, under the circumstances, that
our cautious and wellnformed correspondent should
hazard the prediction that imports from June to
December will reach threefourths the amount of
the corresponding period Of 1857? We are conf
dent they viii run even higher than threefourths-
that they will exceed the importations of 1857
The country is abundantly well off, and is utterly
bare of goods. The amount of money on hand is
extensively large. Importers and traders are in
good credit; the growing crops all round promise to
be abundant; the great South is nnembarrassed,
the West is old in its youth wise in its experience,
sagacious in it's enterprise and cautious in its en-
ergy. These prominent features of the nation do
not betoken inaction, prostration, and paralysis.
We have had playday, and the industrial energies
of the nation like giant refreshed from sleep are
now about to be exercised with renewed vigor in
every department of business
We had overacted on the basis chiefly Of long
credits and the prostration of the last eight ten
months has operated chiefly to correct this evil.
Long credits cannot fail to accumulate in the
try large amounts of foreign goods They have been
broken up and tho striking decline of the
shows that we have been consuming the old stock
on hand
But it is said that the rovulsion has essentially
broken up and rooted out the speculative feeling
which prevailed in the country, and on which to a
considerable extent the operations of trade depend
It win not require many years more to prove that
commerce is not in any just sense speculative
Drancn OF business. lnat III may DC lnNueHCeu Dy
spectators we do not question but in itself it is
result of production, and is pure in its operations
as regular legitimate, and necessary the labor OF
agriculture or the labor and machinery Of manufae-
lures. fl
Tho foreign exchange market is sure to correct
cessive mportations the revival Of general bust
ness too is first exhibited in this country by the i'm
port record.
We cannot speak confidently in regard to the in
tention of the republicans; but few weeks ago,
through some of their weak allies they opened the
campaign of 1860 on the strength of the prostration
of trade and the depressed condition of Mr.. Cobbs
treasury II would DO queer if, even before they
fairly get into the field, their ammunition should all
be lost--even falling into Mr.. Cobbs hands in pie
thoric supply. 1t would be queer; yet bad pilots
will run their vessels aground Quacks occasionally
make gcodhit but that is not the law. Impostors
once in while succeed, but they are generally cir
cumvented. agl cai sg. satF W.
MIR. CRrTTENDENs REFORMATION RETRACING
THE LINES. IA
Our neghbors of the Inteigcnesr have been at some
pains to colate and republish tho speeches Of Mr.
Crittenden at the various points of his journey
home. The series of ovations is fully noted. The
;oto Labl rfY