New-York daily tribune., 1858-02-17

essaPpee'ne, e,u. .aS bsnk, ard Of he naionai
Treasury itself -. NJ, ~p,e.ident fs
an evidence OF advancing .~o, eact successive
a.. go ,h E 4. now combinations for procuring
fepea of the laws limiting the re a. " he fnD5 ~
NAV be lent, The cause OF a. '1;s, I,., ~ c.arnn,ar.
,k'fa. ,ha, -he pocy OF the Cen'ta1 ooNeinn.o y,
tne iac. % 1nI ,udrd an increase in the p,wer Of the
.oSor 80 N The tax OF transportaton-aigmehu mug,
90 :, des ,he qusrtijy Of shipping iequien oI uans aus
porting any given value Ul uha.e 1g that highest and
t, S on fhe machinery OF eXcharge, called money.
IIn5er a different sy.tcm that power Wo5ii ss'ih!
:,..se md usury laws would graduaiiy ulc oW me
.,Jsrd rate OF interest falling below the legal one
al ,be efo,i fer the repeal OF those laws are 10 he
gsrded only as furnishing additional evidence ~ The
v;ng mower Of capital over la a1or-alwaysa chard;-
..ristic 81 declining civillza'lon ....
Our present position Mr. President, il preci.ey SIM
lar 10 that described in the above extract rom W.
Coqueln excellent little book. with large supply
Of lands houses, corn, cotton, and Other cnhou!Ie'
and things W. hav. little commerce nohg ourselves
,'orn abouuGs bu: the laboTer perishes for want OF
food. Houses abound, but wives ana cnnuIeh wan
der through our streets for want OF shrN@i' ohps
sbound. but their owners are iuloeu ~ "a''t ~
fr.ight. Goal abouDds, and yet men, women and
ctjdren persh Of cold. Commerce, so lar as regards
the sale OF labor, has almost ceased TO exist why
so Because money has ceased 10 clrcula'e, ana In
,be absence of that circulation, the socletay Jve
mon. called commerce can have no existence. Why
has il ceased TO circulate Because confidence has
wholly disappeared Why has it disappeared! Lee:
US inquire.
example. What, then, Goes history tell us : When
has confidence most prevailed Has it not been in
the closing years o: the three protective periods
those periods in which there was an iarard flow of
The precious metals When has ii most most entirely
disappeared Has il moi been in the closing years OF
the three Free-Trade periods-thOse periods in which
gold and silver flowed ONt~0rd When has the price
Of money been most regular Has Il not been in the
oAa k[hpp bog n hpgn most
guar Has il not been in the Free Trade ones !
" hen have we become rich and strong Has II not
been in the Protective periods hen nave we De-
come gradually poorer aud weaker-eading win
general bankruptcy Has IL not been 10 the free
Trade periods When has labor acquired power over
capital Has il not been in The Protective periods
When bss capital acquired power over labor Has II
not been in the Free-IIade periods To these qres-
tons, the answer must be in the ADVANTAGEOUS ten
Gency in the one having always been toward ocalza
ton and freedom, and IN the other as regularly,
toward Capitalization and Slavery.
Such Mr.. President, having been the law OF the
past what is to be that of the future If protection
has given us wealth. strength, credit and power IN the
mat must il not do the same in the future IL the
system called Free Trade has given poverty, dis
trust and weakness in the past can do otherwise IN
The future Assuredly pot, and for the reason that
looks TO the exhaustion OF the SOIL the lmp0veflsh-
ment of the farmer the increase OF the power OF the
trader in goods and money, the annhilatiOn of the
mower 10 obtain the machinery required for reducing
The labors Of production aud the destruction of CONT
dence Of man IN his fellow men. 80 long as that sys
tenn shall be continued, there can be general re-
yiyal of cOufdeLce because property must, and WILL
become less and less secure That IT may be revived
il is needed that the central Government change its
sysen-GbandoniDg az once, and forever the ldsa of
maintaining a hard money currency while pur3uOg
policy tending TO the expulsion of the precious metals
and that of building up great foreign commerce by
aid O: measures tending TO destroy the domestic one
That further progress in its pres mt direction must
be productive Of effect the most DISASTROUS will be
obvious 10 you, Mr.. President on careful study OF
the facts presented for consideration by the last few
years. With larger supply OF the precious metals
than we ever before possessed but without the
smallest confidence in the duration of the apparent
prosperity gold has been secreed to such extent that
the price Of money has been high as to proved
utterly destructive to the really working men of the
communty-all their apparent profits having been
sbsor bed by tire payment of usurJus interest. Mills,
factories mines and furnaces, as consequence have
been closed to the utter ruin OF their owners work
men of all descriptions have been Obliged TO seek IN
ibe West the food denied TO them at home There ar.
rived, they have found the public lands monopolzed
by specplstors, to whom they have been 9ohged u
pay double, treble, quadruple prices for the little
lard they needed. Thus plundered at the outset OF
their operations they have been compelled to borrow
money paying for its use at every rate from ~
per cent year. sne bubble having burst, they find
themselves ~ the hands of their usurous creditorS
an now the sheriff will complete the work.
The whole policy of the central Governnent tenus
,bus 10 The anihilaton Of the really useful portion o.
scriefv and 10 the aggrandzement OF traders 10
money, in land in cloth and cotton, in principles ana
in men; and, as necessary consequence the dehola
zation of society becomes more complete with eacn
success successive We year. The range of honest employment
becoming daily more and more restricted men arc re
driven BY sheer necessity to engage in scheme, OF
rircumsanoes they would shrink back, shuddering at
their very thought. How long, Mr. President, can
such state Of things endure! Is It possible under
such course of operation, to buid up a stable sys-
tenn That it is not, is proved by all the facts of
history. change must come in the policy of the
Government, or the Government itself will undergo
change.
The commerce that you, Mr.. President, have so
well described as being the sort of free trade that
we really need is all that required to render money
abundant and easily ttainable at moderate interest,"
with larger power to obtain mills steamers, money,
and all other machinery than is possessed by any
other community of the world Give the people but
tket commerce and confidence will be at restored.
Yours very respectfully, - ,
PhRaGephio, Feb r. 1858. HENRY Z. CAREY