New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1859-01-19

the fever subeided reslizeI large fortHpes Others
who bought coal land at iow prices paid for Is and
held on 10 it, have Jared equally well, and have
been for years deriving vast incomes BY simply
leasing il to others at % cents kr every tun taken
out But with the great mass Of the sdVentdrers
the result was otherwise. IN Overwhelmingly
disastrous reaction succeeded Ye: it did not inter-
rupt the progress Of the nOn-speculators. They
continue 10 open new mines, make more railroads,
build more iron mills and send more coal 70 PILLS.
delphia. The more We received the more We con-
sumed, till We soon were able 10 ship on sre guam
titles to distant places ans TINS was the 0es nnlng oil
the enormous cOasting trade We now possess. More
than 500 coo, 600 were in tins way diverted from
commerce to internal improvements, and as the lat
ter fourished from the expenditure, so the former
became languid from the withdrawal. Much OF the
capital thus turned into new channels found 10
be unproductive, and much was wholly lost. But
il built thousands of miles OF railroads and canals,
now mainly supported oy coal frelghts; and the
capital expended IN Pennsylvania for constructing
avenues 10 convey anthracite coal 10 market. Is
now seven times greater than the whole amount IN
vested in all the manufactures in Lowell.
The decline Of commerce, however, implies no
decline of general prosperity for Philadelphia.
New-York and Boston may flourish from their
foreign trade, and the fact be made occasion for
frequent newspaper laudston; but we flourish not
withstanding, quietly but substantially. We have
our aggregate manufactures amounted TO SELL
OO0 0O0-only S70,000,0O0 less than the value of
all that Massachusetts, produced. As long ago as
1s45, the vessels employed in shipping coal from
this city greatly exceeded in number and value the
whole fore On tuDnage Of New-1Ork; and since
that period the anthracite coal product has grown
from 1900, 600 tUns in lS45 TO g. 200, 600 tuns in
lc57, and T. 036, 600 tuns in 1855. In 1855 We hsd
but sos arrivals from foreign ports, but of coasters
the arrivals were 80, l42. This trade Is steadily
and rapidly increasing. Our four miles of river
front is all wharfed in and constantly occupied
Wharf property is rising IN value, aud the low
fats below the Navy Yard are now being appro-
priated to shipping. The foreign commerce OF this
port in Its palIniest days, wrought changes
ike these. So on both sides Of the S,huylkill. in
the rear of the city, where foreign commerce was
never heard Of the change has been even more
miraculous. A new Philadelphia has been built
up west of Broad street, the center of the city
plot, within twenty years. Both west and north.
west of Broad street there are miles and miles of
splendid avenues lined on both sides with elegant
and costly residences the creations Of the last ten
years. Not tenth Of these founded on
| the profits of foreign commerce. They are
exclusively the offspring of manufactures and
domestic traffic. Chestnut, Market and Arch
streets have been rebuilt with edifces that may
rival the ford architecture of New York, and but
| few of them from the gains Of foreign commerce.
hat interest never built single botel among but
our coal and iron interests have built dozen mag
nifcent establishments for the accommodation OF
the great concourse Of strangers who pour in daily
over railroads built with the money which it was
| once the fashion to invest in ships. Thus, if our
| foreign commerce has declined, il did go because
! we voluntarily abandoned it for enterprises which
have trebled our pOpul ation, our city property and
elevated State into position she could have IN
| DO other way attained. In this career of mining
| and manufacturing, We are evidently for once
ahead of New York. While content to be distrib-
utor of your mportations, we are satisfied that you
shall consume our coal You taught us the value
of passenger railways, under which we now rejoice
continually. But in return for this We showed you
what steam fIe.engne was, and the wonders It
could perform among the yet-tO- be-consumed rock
cries OF New York. Seeing, then, that as our pur-
suits are in comparatively different directions, we
ought not to be considered rivals We still retain
the Mint but the National Bank no longer exists,
and you are now the great money center around
which all begging railroad companies reyOve.
Some Of them have made you rich, while some
have made you poor. May they make you no
poorer in the end.
We are now witnessing an incipient finale 10
this network of internal roads, at least in Que d.
rection. The recent opening Of the Pittsburgh,
Fort Wayne and Chicago Railroad, 465 miles long,
establishes a route 9l4 miles from Newfork 10
Chicago, with only two changes of cars between
the two cities. From this city to Chicago the
whole c24 miles are under the control OF the Penn
syvsnia Railroad Company, and they form the
longest uninterrupted route in the country. 1t
was in consequence of the completion of this ar
rangement that the great Northern mail from this
city changed its hour of leaving from TO p. IN.
This great enterprise is unquestionably one of the
fruits of Pennsylvania abandoning foreign COM
nerce to deyelope her own inexhaustible mining
wealth In doing that, she has developed hun
dred collateral interests. While regenerating her.
SELF she has conferred the most important blessings
on all the neighbOring States. Without her coal,
the canals OF New-Jersey would not have been
made; and if it were now to cease passing over
them, they would collapse into hopeless insolvency.
Your own city has shared largely IN the benefits OF
the same tIsfic. Manufacturing in New.Engsnd
would anguish without Pennsylvania coal, and
protection be more necessary than ever Surely,
then, our people have been wise to sell their ships
and uncover their coal mines.
FROM NEW-JERSEY.