Nashville patriot. [volume] (Nashville, Tenn.) 1858-1860, 1859-01-20
FROM ne Philadelphia North Ame-rean Gaesae.
Contrast.

for evidence that Financial France was never
before in such admirable condition. Well
does be say, that it il ian admirable docu-
ment," calcHlated TO produce a wide sensa-
ton" "You may observe" he continues,
"that. with all the immense cost of war. and
Of the interest payable npon an enormous
debt, the expenses Of 1855. '56. and 81 are
balanced. without having exhausted the re-
sources Of the State. The midget Of the fol-
lowing year Of peace (1S5S.) together with
estimates for two years 10 come, give promise
Of simple and easy liquidation. The amount
OF Treasury bonds ia reduced since the month
of February by more than 10000 600 If
francs. A sinking fund IL to receive 40. 900
900 from 1859. ond 10000 900 from 1860.
Direct revenue flows into the excheuner with
facility without parallel. Indirect contri-
button continues to increase with proportion
al rapidity, and all taxes are paid with such
pronptness and facility that the cost If COL
lection II decreased by nearly one-tbird. in
Guiding the expense Of suits for recovery. Let
me cite further that the bank T. serve exceeds
$4,000, 000f. The rate of Discount has de-
creased from ten to three per cent and the
interest on Treasury bonds from four 10 two
and-a half per cent In spite of tho I4O. O0O.-
O00f. reimbursed in ten months TO the holders
Of these bonds, the abundance Of money il 50
great and the collection of taxes so easy that
the amount OF cash in the Treasury. which
was only I5.O00.0O0f, last year at this time, is
now 100000
The picture here presented contrasts so
strikingly with that presented by our own
country, that we are tempted to call the at
tention OF our readers 10 some of the points
OF difference, az follows:
France has but recently emerged from a war
that has cost her hundreds Of millions Of dol
lara, all of which vast amount was furnished
by her own people. We have had no wars
except those or Karsas and Utah. and yet we
are obliged to seek abroad the means Of car
rying on the government in time of peace
France maintains an army of halfa million
or men, always in a state of the highest pre-
paration, and an immense and powerful fleet
We required whole season to prepare for
sublugating Utah, and have had to hire canal
scows. with view to make show that shall
brighten the little Paraguay.
France has debt of many hundreds of
millions ofdollars, upon which she is enabled
TO pay the interest with the greatest punctnal-
~. We have a debt that has been contracted
in time OF peace, and shall now be compelled
tn resort to further loans to enable US to paw
the interest.
France has a vast system of railroads. the
average price of the stock in which is more
than par. We have great system of roads
the stock in which is nearly worthless. while
the bonds of many of the companies are be-
ing hawked through Europe at discounts
vary from ten to fifty per cent.
French railroad makers borrow money at 3
per cent. American ones promise ten. being
Obliged to create bonds bearing 7 Der cent
i"tcrest. and then to sell them at enormous
discounts.
France obtains the precious metals at sec
ond hand. and yet they so much abound that
taxes are paid with promptitude that before
had been unknown. We own the mines of
Virginia, Carolina, and California. and vet
their products so slowly circulate that we are
every where trying TO barter lands. houses.
merchandise, and labor; that throughout the
west money is becoming almost unattainahle;
that taxes remain unpaid; and that cities
borOnghs, and counties, are forced to borrow
money TO meet the deficiencies that thus are
caused.
French prosperity causes the faxes to be-
come more productive from year to year.
American adversely has made them so unpro-
ductive as to produce necessixs3 for devising
new and more productive taxes
Increasing productiveness of French taxes
il attended by constant dimnuton in the
cost of collection. With us that cost increas-
"a az the taxes become less prodnctive-the
one having nearly doubled in the last wears,
while she other has sunk to little more than
one half
The French government pays its way and
maintains its credit. Ours is reduced TO the
meanest shifts, aud yet is obliged to commit
acts of bankruptcy at every hour of the day.
French postage is low, and vet il furnishes
revenue to the government. High ms are our
rates, il is threatened that they shalt be almost
doubled. because of the excessive poverty of
the treasury.
The rench government pays its troops, and
thus enables them to pay postage upon their
letters to their friends. Our government
leaves its troops unpaid, and then refuses TO
carry their letters, because of their inability
60 pay the postage.
These are great differences, and vet they
are but a portion of those which might be
pointed out. To what may they be attributed?
We have more land. almost a. many people,
more widely ditflsed education and a m.re
general diffusion of intelligence. than can
be found in France, and it is not in any Of
th. Sc directions we must look for the cause OF
the growing poverty and weakness of our
people aud our government, when compared
with those Of France. The real cause is to be
found in this, that the French government
desires to place, in the direction of its affairs
men who will see for themselves-men who
will think, aud not bG led away hy mere
words--we. on the contrary, placing mere
country court lawyers, like our present
Secretary Of the Treasury. in the management
of ours The one. after long experience, and
careful examination of the result obtained
announced TO the world, some three years
since. through the President of the Council.
II. Baroche, its determination formally" 10
reject the principle Of free trade, as in
compatible with the Independence and secu-
rity of great nation. and a. destructive of
her noblest manufactures. No doubt" IA he
co itinued, ''our customs tariffs contain useless
and Anticipated prohibitions. and we think
they must be removed. But protection Is
necessary to our manufactures. This prutec-
ton must not be blind. Interchangeable, or ex-
cessive, but tie pri,a7ple Of Il mus be firmly
nni,lkaiHed.' The other worships a word
called free trade. the effect of which is to give
US little more than u single market OF the
world in which to sell, aud n single one ia
wi ich to buy-that Of Great Britain.
The one protects the internal commerce OF
Its people. The other hands that commerce
over to the 'tender mercies" of n foreign
nation. in whose official documents, published
by order Of Parliament, we find the declara-
ton, that 1.-The laboring classes generally. ia
the manufacturing districts of this country.
and especially in the iron and coal districts.
ere very little aware of the extent to which
they are often indebted for their being en-
pioyed at all to the immense losses which their
employers voluntarily incur in bad times in
order 10 Destroy Jore.gn competition. and 10 gam
and keep posscssion Of foreign markets Anthem
SIC instances are well known OF employers
having in such tunes carried on their works
81 loss amounting in the aggregate 10 three
or four hundred thousand pounds la the course
Of three or four years. If the efforts OF those
who encourage the combinations to restrict
the amount II labor aud TO produce strikes
were 70 be successful for any length OF time,
the great accommodations Of capital could no
longer be made sekieh osa6le u fep OF Ite n.ast
sceJiky capitalists 10 OseTlohei al foreiga oope-
t.;son N tsnes Of greaf depression, and thus to
clear the way for the chloe trade to step in
when prices revive, and TO carry on great
husiness before forelqn capital can again nc