New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1860-03-10
FINANCIAL CRISES-THEIR CAUSES
AND Expects.
MIR. CAREY TO MIR. BRYANT.
LETTER TENTH.

sented for your CONSIDERATION, having zone Which,
will ask you cay in the annals of the world there
can anywhere be found admirable contrivance
for the humiliation of domestic commerce than that
which exists among ourselves, consequent upon the
adoption of British iree-trade doctrines Coeing our
mills and furnaces our Government compes our peo'
pie TO seek the West. There arrived, they find them
selves taxed for transportation TO such extent that not
only have they power TO developtbe mineral wealth
that much abounds, but are wholly unable even 70
construct roads by of which to go to the distant
market. Few in number and poor, they are driven to
seek relief at the hands of their British friends, or mas
ters pedgng their lands and houses as security for the
pay men of railroad bonds. In due season. the foreign
creditor becomes owner of the road anxious to increase
bis revenue but above ALL anxious TO promote the dis
persion a our people, and to the maintenance OF
our exciting colonial dependence Seeking to accom-
plsh that object be taxes y0ur farmers for the trans
portaiion of the produce of distant
them to make good all the Losses resulting from cbeapy
carving the products of Wisconsin and Minnesota.
Tins destroy ing the value of the land and labor Of At
antic States he compels further emigration and thus
on and on be goes-fuly carrying out the British plan
of recoinization while always audng the advantages
to be be derived from the British freetrade system. 1t
is remarkably ingenious arrange nent, and the more
Won study it, the more, my dear Sir you must be led to
wonder at the folly of people in having SO long
submitted to it, The British people are somewhat
heavily taxed but for every dollar they pay for the
support CT their osc system do not people pay ten
for the support of foreign people and foreign GorerH-
ments?
That the strength of community grows as its inter-
nal commerce increases and declines that commerce
al nf matt af
world. Sueh being the cage, allow me TO ask you now
to look with me into that commerce among ourselves
with view TO deter mining its extent How much does
Kentucky exchange with Missouri What is the an
nual value Of the commerce of Ohio with Indiana or of
Virginia with Kentucky Scarcely more, as I'M
sgne than that of single days labor of their respec-
tive populations and perhaps not even half 20 much
WHY is this TIE case Is it not necessary conse-
queDce of the absence of that diversity of employ ment
thn tie States everywhere seen to be 30 indlrpens-
able to the maintenance OF commerce Assuredy IL H.
Ohio and Indiana have little moro than one pursuit
that Of tearing out the soil and exporting in the form
of food Virginia and Kentucky cell their soi IN the
forms Of tobacco and of Carolina and Alabama
have h same pursuits and SO it is throughout by far
the larger portion of the Unon-mions Of people be-
ing employed in one part of it, in robbing the earth Of
the constituents of cotton while in others, other mil
lions are employed in punderng the great treasury of
nature Of the constituents of wheat and rice corn and
tobacco and thus destroying for Themselves and their
successors The power to maintain commerce..
The commerce of State with State s thus rs you see
nv dear Sir but very trivial and the reason why Is
So is that the commerce of man with his fellow man.
within the States, general rule is 80 exceedingly
dimi1 utive Were the people of Illinois enabled to de-
H.. ~ aTd iron
ORE and thus to call to their aid the wonderful power
Of steam, the internal of the State would
grow rapidy-making market at home for the food
produced and enabling its producer to become large
consumer Of cotton. CottoD-mls then growing up,
bales of cotton wool would travel up the Mississippi to
be given in exchange for the iron required for the
roads of Arkansas and Alabama and for the machinery
demanded for the construction of cotton and sugar
mills In Texas and Louisiana.
That however, being precisely the sort OF commerce
which Britain so much breads, and that too, which
our own Government desires to destroy the capitalist
feels no confidence in any road dependent upon its
growth whether for the payment Of interest upon Its
bonds or dividends upon its stock. Hence the almost
entire impossibily Of obtaining the means OF making
an road that does not lead directly to Liverpool and
Manchester. Look with me, pray yon, into the Re-
port Just now published of the Sunbury and Erie Rail
roao-runniDg as it does, through country abound
ing in mineral wealth and fertile lands. It's length is
2s8 miles 248 Of which are already made, and l4S COM
pleed by the laying Of the ironthe expenditure hav-
ing somewhat exceeded ss,5O0,OOO There, however,
the work eops, being quite impossible to obtain,
az a temporary loan, either at home abroad, the
trivial sum that is yet required except at the cost of
sacrifices that must be ruDous TO thosc who have
meneed the work. Until il shall be obtained the capt.
tai already expended must fail to be productive and
lands equal in extent to a moderate German kingdom,
must fail TO contribute the maintenance OF peo
pie, and TO the increase of the States in wealth,
strength, and power
Thirty years since, Germany did we are doing,
exporting raw materials, and importing finished pro-
ducts. Adopting protection, she has placed herself in
position to compete with Britain for the purchase Of
wool and cotton and for the export of knives and CLOTH
Then she was poor but che is rich that herpeo
pie take from us bonds by which roads and lands
are bound for the payment of rates of interest
to ruin the persons whose property has been
pledged Thirty years SINCE we paid off all our for
eipn debts. Adopting freetrade measures, we have
since created foreign debt that requires for payment
of its interest alone than the products of all oar
farms that 60 to Europe. Then, we were rich and
strong. Now, appear as beggars for loans in every
money market of Europe and are fast becoming the
very paupeTs of the world.
That our system tends the destruction Of domestic
commerce in the Atlantic States, is beyond question.
How it affects the value Of land and labor throughout
thoee Western States in whose favor you now appeal
to your Legislature asking for continuance of the
system by means of which the New-York farmer is
made to pay the cost of transporting the and wheat
of bis Western competitor, we may now inquire.