New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1860-03-24
FINANCIAL CRISES-T'HEIR CAUSES
AND EXPECTS.
MIR. CAREY TO MR.. BRYANT.
LETTER TWELFTH.

DIAN DIN 1DHtJ Jc"io e'HN0t ''~'-
prompted by determination to resist the execution Of
laws that were in full accordance with both the letter and
the fpirit Of the Constitution first moved dissolution of
the Union. Failing to find second, she stood alone
Since then, all has greatly changed Now, each sue
ceesive day brings with it from the South not only
threats but Of dsunion each in it's turn lind
ing more persons in the center and the North anxious
for the maintenance of the Uuion yet disposed toward
acduiesc in the decson Of their Southern brethren
whatever that may prove to be. This 10 great change
TO have been effected in 80 brief PERIOD and sad as it
ia great. To what may II be attributed and how may
the remedy be applied
Before answering this latter question: let us inquire
into the causes of the diseasefor that purpose looking
for moment into the records Of cur past. The men
who made the Revolution did 30 becau'e they were
tired of a system the essence of which was found IN
Lord Cbathams declaration that the cooniSts should
net be permitted 10 make for themselves "even 50
much as single hobnai." They were sensible of the
exhaustive character of policy that compelled them
to make all their exchanges in single market-thereby
epriehing their foreign masters while running them
selyes. Against this sysem they needed protection,
and therefore did they make the Revolution
political independence as means Of obtaining indus
trial and commercial independence. To render that
protection really effective, they formed more perfect
Union whose frat Congress gave us, as its first law,
an act for the protection of manufactures. Washing
ton and his fecretaries Hamilton and Jefferson, ap
proved this course of action and in doing were fol-
lowed by all Of Wasbington's successors, down TO
Gen. jackson. For half century, from 1888 to 1888
ouch was the general tendency of our commercial
policy and therefore was it that notwithstanding the
plumber Of our merchants under British Orders In
Council and French DEGREES, and notwithstanding in
references with commerce by embargo and non-lnter
course laws there occurred in that long period in time
of peace, no single financial reyulsOn involving GUS
pension by our banks stoppage of payment by the
Government. In all that period there was, conse-
quently general tendency toward harmony between
the North and the South, in reference to the vexed
question Ct Slsvery-bo,h Virginia and Maryland hav-
ing in 1892 shown themselves almost prepared for abo-
liticp. Had the then existing commercial policy been
maintained, the years that since have passed would
have been marked by daily growth of harmony, and OF
confidence in the utility and rermsnence Of our Union
Such, unhsppiy, was not to be the case. Even at
that moment South Carolina was preparing to assume
that entire control Of our commercial policy, which,
with the exception Of sDgle Presidential term she
has since maintained forcing the Union back
to that colonial system, emancipation from which had
been the primary object Of the men who made the
Revolution. With that exception her reign has now
endured for more than five and twenty years. period
marked by yrecurrng financial commissions,
attended by suspensions of our banks bankruptcies OF
individuals and of the Government, and growing dis
cord among the States.
What, you will probably ask, is the connection be-
tween financial revulson and sectional discord Go
with me- my dear Sir, for moment, into the poor
dwelling of one Of our unemployed workmen, and
will show you. The day is cold, and is bis stove.
His wife and children poorly clothed His bed has
been pawned for mouey with which to obtain food for
hs starving family. he himself has for months been
idle the shop in which he had been used to work hav
ing been closed, and its owner ruined Ask him why
is this and he will tell you to look to auctionstores
and our shops gorged with the prodacts of foreign
labor, while abOrers perish in the absence of
employ that give them food Ask him what lie the
remedy for this and if he is old enough to remember
the admirable effects of the Tariff of 1S42, he vii tell
you that there can be none, long Southern CON-
mercal policy shall continue to carry poverty, destitu
ton, and death, into the homes of those who must sell
their labor if they would live. That man has, per-
haps already cor ceved some idea Of the existence of
an " irtpressible conflict" between free and slave
labor. A year hence, he may be driven by poverty
into AboEtonism.
The picture here presented ia fancy sketch 1t is
dawn from life. This man is the type Of hundreds
Of Thousands might say millions, of persons of va
rious conditions of life, who have been ruined in the
repeated financial crises of the fve-andtwenty years
of British free-rade and South Carolnian domination
Follow those men on their weary way TO the West,
embittered they by the knowledge that it is to
Southern policy it is due that they compelled to
separate themselves from hemes and friends and per-
hsps from wives and children. See them, on their
arrival there paying treble and quadrupe prices for
the land they need to the greedy Spectator who finds
his richest harvest in freetrsde times. Mark them,
next contracting for the payment Of four and even
five per cent per month"; for the little money they need,
knowing they do, that we are exporting almost
millions of gold per week. to pay to foreigners for SER
vices that they would gladly have performed Watch
them as they give for little than single yard of
cotton cloth, bushel Of corn, that under different
policy would give them almost dozen yards Trace
them onward until you find their little properties pass
ing into the hands Of the sheriff. they themselves being
forced to seek homes in lands that are even yet
more distant. Reflect, / pray you, upon these facts
and you will find in them, my dear Sir, the reasons
why the soil of Kansas has been stained by the blood
of who, under other legislation would have been
found acting together for the promotion Of the general
good.
Mr.. Calhoun sowed the seeds of secionalism, abo.
tonism, and disunion the day which he planted
his freerade tree. Well waered and carefully tended
by yourself and others, all have thiiven. and all are
now yielding run exhaustion of the soil of the older
States and consequent thirst for the acquisition Of dis.