New-York daily tribune., 1858-09-29

OF 81 the furnaces in the Union, one hall 81
east must be cosed-the remainder being only
partially employed. So, TOO, is il in the rolling
mills and machine shops-not one hsh Of their
productive power being now in action. In the coal
region, as We learn, the distress among the work
ing people slikely 70 be greater than has eyeryet
been known. Last Winter they had the little
savings Of the Summer. but this season they have
been but half employed. Our railroads are likely
soon 70 pass into the hsnds Of the bOndho1ers-the
original proprietors being utterly extinguished.
Our farmers have little wheat. scarcely any oats,
and but small supplies of corn. Heavily IN debt,
with enormous interest 10 pay, their farms must
pass through the sheriff hands. Our shipping in
terest is now, of sl the most ruinousiy dep 'essed;
and vet il is likely to be still worsethe carriage
Of really valuable commodities tending TO pass en-
trely into the hands of owners of foreign ships rs
regards our factories and their owners generally,
the following paragraph from one of our exchanges
exhibits, as We think, the true position of grea,
majority Of them
There is 10 he an immense sale of property by
the Sheriff Of Burlington Co.. Nj on the Ith oi Sep
tember. All the extensive mills factories, print
two miles from Mt. Holly, to be sod under fore
closure. There Is an elegant mansion and twenty
dwelling houses, beside the water-pOver of the Ran
cOcds, and IN fact group of improvements on which
an immense amount Of money has been expended,
much of which has been hopelessly sunk. The pro-
prietors were both deceased before the hard times
came on. But though for years they have msnufac
tured about the best article of spool cotton made
this country, yet they had to struggle under all
the disadvantages of competition with British capital
iss, who, under the benign influence of free trade,
drove our own manufacturers To the wall. The
fourishing village around these extensive works be-
silent and idle under the crushing blight, and
now, when manufacturing in 50 many other places is
stagnant il is absolutely desolae. The cotton thread
business ie carried on in small way at Mt. Holly.
but il has hard time to keep mp aud earn what il
ought 10. Worse than all this, there can be bat little
hope that these factories and improvements will a
into the hands Of parties courageous enough 10 put
them in operation while this of free trade hangs
over the industry Of the nation
The Treasury is rapidly tending toward bank.
ruptcy--the expenditures being at the rate Of
nearly g. coo, 900 per week and the receipts being
likely not to exceed 100000.
In the midst of all this, what is the Administra.
ton doing The President is shutting the cards,
in the hope of obtaining renomination that
being the object next his heart. The Secretary of
the Treasury is assuring bis friends of his extreme
surprise that trade very obstinately refuses TO
grow and revenue refuses 10 increase. So far
however, as regards the condition of the people or
the country, both are as calm as Summers morn
ing--being, like Micawber, quite content To wait,
n hopes that something may turn up. The his
tory of the world may be safely challenged for the
production of SO utterly contemplate an Admins
tration as that of James Buchanan.
-. ~, -.
intxests are managed, il would seem 10 be time
that the people themselves should look into their
own affairs.