New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1860-02-10
FINANCIAL CBISES-THEIR CAUSES
AND EFFECTS.
MIR. CAREY TO MR.. BRYANT.
LETTER SIXTH.


DEAR SIR: Pauperism Slavery, and crime, as you
have seen follow 10 the train OF the British
feetrsde system of which ycu have been long the
earnes; advocate. On tbe contrary, they diminish
every where, and at all periods when ia accordance
with the advice of the mos. emineut European econo
msts. that system is effec,uslly resisted. We, cur
selves are n the fourteenth year of free trade
perod-the result exhibiting itsef you yoarself 20
recently have shown in growth Of all that hns az
length most seriously alarmed the very men to whose
uncessipg efforts that growth dls That they should
be 20 il not extraordinary but their alarm would be
much increased were they now TO stuiy carefully the
couoion of affairs the end Of the peaceful and quiet
period of protection which closed with lS47 and then
contrast with it the tate at which have arrived
flow ing up the examination by asking themselves the
Questiun-WbiIber .re we tending land seeking to
find an spswer TO it. The picture that wout then pre-
rent iuelf to view, would SO much shock them, tina!
they would shrink back horri6ed at he IDEA Of the
fearful amount Of responsibility they taas far had IN
cured.
That the facts se such as you have described them
cannot be deni-d. Do they, however flow necessarily
from submit sion TO the British system, misc ,led by It's
advocates The freetrade onethat one which seeks 10
limit all the nations of The world Outside Of England
mai ke, thai of England for outlet for their pro-
ductsi That they do 70, you WILL sure, be ready
TO admit after having reflected thst menbecome rich,
free strong and moral in the ratio of their power TO
sss. eiae and combine together and that the object of
the British system, for more than century past has
been that of preventing combination, by frustrating
every attempt a. the production Of that dyeridcition
of purtuits without which the power of association
car bsve little or Do existence.
What was the system before the Revolution, and
what were tse measures recommended % being those
mOst likely to promote the retention of tbs coloasis
in tttir then exie,ipg state of dependence folly
show in an Enpli-h work on the inen American Colo
nies of muah ability published in London at me time
when Franklin was uTgicg upon h's country men the
Investigation Of tte pursuits the only road To-
ward real Independence, and fro which the following
is sn extIsct
population from being spread Io7nd great extent Of
frontier ud ners.e without giving hs least cause o.
Britain land woud only be pentifu but plentiful wlere
people wanted whereas at preep the Population Of our
spIeed space between the and the the
Is soeS saVirs psned The people theriOe H.
selves for the agriculture which "a the nr Step TO
becoming manufacturer hes step which Britain has 80 Iauch
reason to dread "
Why, my dear Sir, should Britain have so much
dreaded combination among her colonial subjects
Why Should she seouou-ly have sought 10 dispense
them over The extensive tracts of laud beyond the
mountains Because the more they scattered the more
dependent they could be kept, and the more readily
they ud he compelled 10 carry s the rude products
distant market, there TO sell them 80 cheaptg, as
we SIRE told by aootber distinguished Briish writer.
that not orefouth Of the product redouuded TO thsr
own profit" consequence Of which plantation
mortgages most aourdsnt, and the rate Of inter
ess charged upon them very bgh generally TO eat
A. h,,,aa a,.I hon In J.rd
system Of thar day, as described by those WRITER'S
almost precisely that of the present hour For tie qan-
,ensnce dispersion Of TIE population regarded
Indispensable and that it might be attained the course
of action bere described was recoumsnded:
Nohing therefore polite than to provide super
abuLesnce Of col mics TO ke OF all those people that lind swant
tracts country that viii answer this pufPose provson should
every aiken to inform the people Of the colonies
that were crow ing too popnous that ano We: 20 ON.
wfre not found sufficient thinning the country consider oly
should by all be 1t oranspons
Fot Pitt OF much higher the ohio nsvsab for car
ng all uriu5e wi h.nt eIPsns wsae'er se'emess dnsy
wG cary Of 9 sppu Ct p1RaAiR ,T 2sv true ,I bs
no and the foundation of Manufactures"
Having studied these recommendations in regard IN
the maintenance Of colonial dependence, will ask you
pex to look with me into the working Of the British
fIeersde system, and satisfy yourself that its advo
cates have been mere Instruments of our foreign uas-
teIs-clctng mills furnaces, snd factories, rrtaEd-
ing the development Of great mineral treasures,
preventing the utilization of our water powers,
and in this driving people TO tho West, in
strict accordance with the orders Of thoss British ira
ders at aus whom our predecessors made the Reyoiu
ton.
In 1875 the receipts from the sales Of pnbli: lands
amounted 10 81 .S7 eco. This gives Of the
tben existing endtncy toward dispersion. Five years
later hen the eersde stem had parayzed the IN
dusiIy Of the country they bad Tsen 70 1924 600
the customs revenue of the same year yelling more
than go co Geo. The Government had seemed 10 be
rich and for the reason u at II burning Il can
ole at both ends paralyzing domestic commerce., and
driving into the wilderness the people to whose Efforts
it had been used 10 look for lis support. Free-trade
ex citemen, having been followed by paralysis fad
Il customs revenue 10 have fallen ia 1884, TO s3 co.,,
COO-tbe land revenue ut the ssme tins gradually de-
Ginning until in 1929 itstOOd vt less 'han SINGLE million
Az consequence, we zee the treasury TO have been 30
mueb embarrassed as 10 be under the necesty OF con-
tracing loans in the period from 1879 " 1894, to the
extent Of 10 lefs ths 600. As usual here aud
else where, poverty dstes and debt 70 10th the peo-
ME and the Government, had followed ia the train Of
the teachings Of the men who had desifed readopon
Of that dhpersiye policy recommended by British VIII
lers, as meaDs Of prOloDgng colonial dependence
TmD now, if you please, my dear Sir, To The picture
presented by the pro ectyc tamil OF 1873, and marx the
sescness Of customs receipts and ii gentle and quiet
growth Of the receipts from lands, us follows;
s cs' 81 go t sIsi 200 -, $4,000
ssssS,............... 1860 1900 42ts@ o