New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1859-03-24


Jsetsopvins to Ne-.Ycrk, with Lumber, a. $a
vessel Of 10 tun. 10 Porto REQ sed b.ck. ~h Sayr
srd Mcissses, on terms ~e cid rot learn. The snP
Coluubis with Savef, TO Tsusgoas, on Pnrs's
teIms.
II. businsss CT the Sub.Tressury was: Recsip..
sl7i59i 6i for Cu,;orns tl;3 OO0 Payments, t3ls.-
20 8: Balance, 8 500, $50 q.
The reimbursement Of Treasury Notes does not 60
or with much so,isity The boldsrs apparently pre-
fer 10 hoic the niaiUred uo,ss az = demArd loan.
There il = goo6 demand Tor Gcyernmep, y cso,s
A. lG2 for ttoss due it 1855 aOi ioil si0il for TIE
re. loan. Private sales Of some $1,000 OF ths 5, Of
1874 were made At l0ii Tfelsary Notes a'e he'd
az par with considerable hrmnees, snd consequently
the usket is very dali Tuere aPpesrs to be 10 DIS
rostion On the pat Of hoders 10 pa' theu roes 90
the rsrket at rates which vii induce importers to pnr
chS.e for the cayent Of du''es. Tee budbess Of the
CIes,.rs Hcuse was sI9 j02,t00. ny Telegraph from
New 0dears we learn thst the steamer from Sss
Ersrc,sco 70 Pau.ua had 81 800 600 in gold 90 eosd
The ret receipts Of the Pittsburgh, Fort Wayne and
Chicago Road for tie third week Of March were
$40 30 60. good pNtioa OF this business must
have been distracted from the northern line Of rosi-
Tie interest coupons ct the 8 v cert second mort
gsge bords Of the Ls Goose sod VI lwsnkee Rsirod
Company, due March |, 1859, at the Bank ofths Rs
pubic, vii be paid the i,h OF April next, O. tho
Ocean Bank
Tee February earnings OF tie Ia Crosse Rosd ara
re ported q, s}3 900 which is Flemish account for
go miles of road. ard shout psSs working expenses
The Msrch earnings OF tho Ml~sGkee and Missi'-
sppi are estimated at shout - CO0 below March of
lost year The country roads At the West have been
in very bad condition recently, and has been almost
i,toss.bs 10 Yesch the Tacoad either With pssseE-
{ ri J.. hnu IA orly
mater The real c,uss Of the decreased esnrgso Of
Western Railosds lies much deeper than this. raere
il Absolutely no business at the West to support one
half the roads already compsted. The crisis OF 1857
aided by the failure Of tue crop Of 1858, and the sas'
pension of immigration and Of the baildIng Of neg
railroads. has been sufficient cot down the traffic %
thee. rosds nearly ooe half from that Of 1856. A
longer tine il is now evident will no needed 70 re-
cover from the effects Of these than has been
supposed and, meantime railroad stockholders mast
be- patient
When business besios 10 revive, and people fad
tha, money can BE- employed adysrtageonsy 10 vsri-
Gus wsys, and consequently become borrowers, It 10
always unpopular side of the question TO argue that
the rates Ct 6couUt likely I, be stvaOcej or that
morsy is to find more active employment. Ani yet
il is 20 pain proposition that business deyelopss
itself, mon.y Elli move nom It's points of conosntrs-
| tou, aud consequently command more pro6tsb' em-
poyuert that We only wonder AZ the esnast sai-
! pGcy which undertakes 70 prove that business may
recover without changing tie position OF borrowers
/ ard lenders. According t. the ihso;sto. ideas OF
some enthusiastic supporters Of expansion aud nils
/ ton we nay swell the yo'uOs OF t-sde-open msoy
rev cham IL for tue Of money and a: the ss'no
time 90 ou irdefni'ey ding 81 rates OF interest
which nothing but oomplse stsgps,icui IN TIE com ner-
ca world could have established WITH such reas>nets.
the batks may with safety swell the dscoua' hne't,
! $50 eco Go. ard CONT upon an a'cuuulaion 81
$50 coo 900 in seecis with certainly We prefer T. DO
practical and that ground there is no dfhcni'y IA
meeting the fire spun doctrines OF mere thsoriss IN
political economy. Il may be unpslstab'e 10 som'to
adopt the idea Of progressive activity IN cspus ao-
cordrg to the ratio Of increase 10 tho movements Oh
trade, ard in the development Of enterprise, out 90
sane man can arrive 1t any other CONCLUSION, Il
he gives the subject reflection IL is an indisput'be
fact that within tue las. 10 dsys, monsy hs' founi
new chsDres Of employment srfiictn % advsoce AMI
maintain The rates paid for its us. iu'y i@l cent
! y anDum and it Is quite as evident that he c1uc
Of this charge il TO be found In the Increased
activity of general bu,noss. The conclusion at which
we most naturally arrive is that We gradually re-
covering from staguat cOndIson Of trade, ant that
Wletl after wheel Ia ltb hacnhe rs likely 10 % put
. motion, greatly to the advantage Of the busosss
community. Capital having accumulated 1t CONNER
cal cruters in consequence Of the paralysis in trsis
ar tbs contraction Of credit il fOlloss, to a rnsths
nstca certainty that restoration Of business activity
ard expansion Of credit will give circulation snd eln
ployuent 10 capital, surely IS lie Sudden and uni
vsrio cessation and resIction created dleness, an
| healthy abundance and unnaturslly low rata OF
ussnce. Now whether few, or the aggregate forGs
% Bark Presidents come to this conclusion or DO,
TIE facts are unchanged and urchsogssbls. If
tIsde remains doll, rates Of interest cannot styspcs.
bu If / reviyes-nOt all the Bank Presidents ia Nsx-
York, all the writers political ecor omy can pre-
vent advance in the rates 10 be- paid for the use of
money. Supply and demand regulate the prices for
money for anything elss, and the demand for money
measured by the magnitude OF trade and the erpaa-
sion Of credit. The banks bot agents ia tbs
distribution of cspits, managed generally as an intel.
| iigent merchant would conduct his own busoess
Voluntary contraction tie part Of these institution,
il rather unnatural, and advances 10 RATES of dis
count is not resolved upon until the demand Increases
enough 10 warrant II. II the demand is fictitious or
! temporary the advance cannot, Of course, DO sus-
tslDed, and the bsnks reduce agsin; but the man.
sgers are generally practical Business men, IL IL not
otsn tina. such blunders are committed. To be human
is to be fslbe bat in our Judgment it is not 10 be de-
cid.d that pohcys which looks 10 Q moro
active employment and higher rates for money as
trade and enterprise progress and expand. n ii is
not practical, common doctrine that business
sctivty begets employment for money, and c,oss-
qnsnty higher rates for is use must conclude that