New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1860-02-17
Netp3ork Dailp Gnibu,te
FINANCIAL CRISES-THEIR CAUSES
AND EFFECTS.
MR.. CAREY TO Mr.. BRYANT.
LETTER SEVENTH.

every country Of til world outsde Of Britain OF thai
diversity OF human employ without which toere
be made single step toward freedom. Inc
more tina. ohtc. be achieved the more must other
nstio, be c. mpeed 70 export their products and in
their rud.st thspe 10 Britain doing go IN direct oppo
ri,iop 10 the advse of Adam Smith. This is what s
called Brsh trade, the base Of which Is found 10
that aDnih,lston Of domestic commerce, whose effects
exhibit themselves IN the poverty. wreehs dnes and
crime Of India Ireland Turkey, and other countries
spbi.ettd to the sy stem al of which well repro
dueed among ourselves in every British feerGde pc
| mod. Real freedom Of commerce consists in going
where you wil-expoTtng fniehed commodities TO
every portion of the world Seeking that freedom, the
mott eminent FIsnsh economists, as you have already
seen, tsve held that it only the accomplishment
OF positive duty" for governments 30 to act as 10
favor lie t4kng possession of all the branches OF in
eusiry wbose acquisition is favored by the nature Of
things" and that when they failed 70 do So they mad
| % great mistske."
In full NC, ordance with the idea thus expressed the
French Government bas adhered 70 the policy Of pro
| tee ion with steadness without exampe-tbe great
rtsu exhibiting isef in export of the products OF
agriculture, in q finished form, such nowhere
eite be found Thus protecting domestic commerce,
tie Government fnds seh repaid in the power 70 OBJ
tsiD ircm fortis commerce that has quad
rupled in the short space of thirty years-the $780,
00 COO of 1880 having been replaced by the alnost
500 coco of each Of the last three yeasbe popu
hiion meantime having remained almost stationary.
Az a oDs queDee of this the reward Of labor has much
increased the people have become more Free and the
State bas grown in influence with a rapdity unknown
elsewhere.
That il is TO industrial development We are to look
for the creation Of real agriculture, can now be no
oDPer dOubted-ibe Emperor having, IN his recent let
ter, told biz fnsnoe minister that without ProSper-
industry agriculture self remains in its infancy
tina: al is necessary berats dustry from all inter
nal ppediments" and thereby "improve our agrieul-
ture;" and that In 80 doing the Government viii be
creating national wealth" and drHusing "com-
| fors among the working classes"
Nothing more accurate than this could have been
said by the great Colbert binsef-tbe man 10 wbose
abors France was fret indebted for reev ng her do
mestc from the pressure of internal resric-
| tone and external warfare Compare 1t, however,
prey you, wh policy, erroneousy styled the FREQ
trade one every portion Of which seems TO have had
for ns object the creation Of mPedimens to domestic
merce and the srbuaation Of our farmers to the
y rsDpy OF foreign traders. Look if you please TO the
most endess series Of laws having for their Object the
compulsory OF gold and silver, in country which
exports the precious metals to such extent as TO have
driven people, throughout large extent OF conn
py to the payment Of three four, and five per cent per
month for the of the small amount Of money which,
such rates. can be obtained. Turn next TO the
] Ponsse law proposed by your Southern free-trade
friends, at TIE last sepsion, by means OF which the
arRe for the trsnsmsSon of letters was to be almost
soubled Study then the constant succession of free
L. h., 81
merce has been 20 often paralyzed. Pass on, and lind
the cloting of furnaces and Mills followed by constant
increase of difficulty in the PALE Of laborcopstantly
growing psupersm and crime-and ~ constant in.
Of TIA; dependence upon foreign markets which
has iD every other county been attended by grovth
| Of Slavery among men, whether black, brown, or
white Look where you may, you wi fud the sys-
tenn OF which you have been the steady advocate lead
ing TO the adoption OF measures directly opposed to the
teachings of Adam Smith and those of bis most disn-
gui-bed iucotsors, here Endorsed by Louis Napoleon
Turn next another passage Of the Imperial letter,
and Dd il that agriculture must have its share In
the bent s of the institutions of credit" and that the
| Government must "devote annually considerable
cum 10 works Of drainage, irrigation, and clearage
Having read tbis suoy you please the proceedings
of our frsersde friends constantly engaged as they
have bseD in the effort destroy the credit of banks,
and TO prevent the substitution of paper for gold-nd
thus far destroying confidence that tens OF millions OF
sp Gle are now boarded in private vaults by men who
dare not spend it, and far lend it any interest what
soereY Tup ence 70 the condition OF our Treasury,
and contrsg 50 il with that of Francethe later propos
vg to lend money the people at low interest," while
The former is constantly in the market as borrower,
and at higher rates of interest than are paid by any
government that claims to rank as civilized.
Pass next to manufactures, and find the Emperor
telling bis Minister thai 10 encourage ndu>tral pro-
ducon he Eberate from every tax all raw mate
rial indispensable industry" and that he must al
low il, exceptionally, and at moderate rate, as has
air a6y been done for agriculture the f1Dds necessary
10 perfect = raw notwithstanding thereby, as I'M
d-1stsDd IT, further grsDts Of aid similar 10 hoes which
have resulted IN improving the breed Of sheep and in
giving French agriculture many products not native
10 the SOIL and We. essential to the perfection of man
fractures Having studied this, allow next 10
quest that you will examine the teachings Of the author
Of the tar1f Of ISihe taTif you have steadily ad'
mired-aDd find him protesting against the imposition
OF higher duties upon the manufactured fabric than
uDon the agricultural product out OF which il Is made
Examine, then, bic tariff and find In r. systematic ef
fort at the ditco1Is cement Of industrial production by
the imposition OF heavy duties the raw material Of
OBSERVATION-DISCLOSURES great, even, as 10 exceed
those raid by tbs finished commodities for the produc
ron which they needed to be used. Tha; done,
lock next the repeated efforts of private individuals
improve breed Of sheep and at the ruin that has
been The coDteqneDoe-ihat ruin having resulted ne
cesssry from chsOges of policy that have closed our
factories and sen narinoes TO the Laugbter-house.
I -. hat A ..st;o~ will find