, 1861-08-12
Hn sfn ess and F1nsncIal PROSPECTS OF
HHF YDEksSt

New XoTaK.ft
:. iFro1n the New York World Money astiele.4
GovBBnmaT EXPENDITURES AND. TIE
FUTURE OF TRhDE;-Capitalists ere waiting
to invest IN government securities, Sud the
that Mr.. Chase, On his Vfsit to this qi5y, which
is expected In few dAy5, WilIthsys no diff.
Guilty in making satisfactory arrangements for
immediate loans to the fnll ezttent Of the gog-
e1nment wanta. On the present specie basis
at once from. *40. .000, 600: to ==s50, 900 0O Of
government SECURITIES, with great benefit to
the money market and, t1ada Of New York.
The prompt distribution Of this amount OF
money into the chnEuels Of trade will speedily
impart healthy. activity to the movements
present date, we have been suffering from q
seye1e COMMERCIAL :crlsis-proauc5d by the
non-pasmeut Of about el50;00d 600 Of South
e1u indebtedness, and MasteEl bank troubles
and Dc faulte, and aggravated since April by
the evils Of civil 1ar--hut Ye9> have not yet
eSFe1:e1 ced any ct the beaefta which la:ge
var expenditure m1st necessaIily bring With
It. Hitherto, the money which Government
has expended comes from peace 8ppropfia
lions for the last fiscal year, sadiag June 80,
lsGl the extraordinary expenditure for the
conI, Tnr y jnst beginning 1he co4amerss M Of the
Domestic produce md foreign exports, both
North and South, for the last two Jears, have
exceeded fair average opE i,nportst1ons
from abroad for last year are much decreased,
and the influx Of specie, ard gain in active
hoatiDg capital BY the courhysare beyond all
East records. The country is rea1ly Possessed
Of more means and capital to do a large and
safe business than at auT past period.
Mercantile credit is, however, Curta!1ed, and
this curta51ment Of credit hss taken from the
basis OF operations in regular trade at least
$GC0, COO, 0,0J0-eqEiyalent to the Withdrawal Of
capital to an equa. amount. Specie and capi-
tsl are in excess; but confidence and credit
are wanting In GrdeT.to use them. The busi.
ICES cf the ration is at 8 stand still because
nobody feels disposed to moTP, and just 80 it
must remain until somebody does move Gov
Intnt proposes TO move By borrowing the
surplus capital which is at present useless to
commerce, thereby benedtting every interest,
ard employing the money which nobody seems
to want. Government proposes and possesses
the power to change the present dullnz.s and
lethaIgY Of our bueiness men into aGs:7ity aud
enterprise By becoming a ca4a purchaser for
S25, or, GOO per menth Of Amefioan labor, az
t;puIlu1al products and manufactures. Three
hutlret millions Of dollars per annum spent
amonE ourselves muet produce prosE erous
activity, a.d can IN no way weaken our ftnan-
cial or barking system BY unhealthy expan
sicn or exports Of specie to foreign countries
There il, therefore, evidently no event or pei.
icY in our hiEtory which can rival in import
a1ce this war. in the powerful impetus which
its expenditure directed By The policy Of the
government, must necessarily give to the do
nestle mahnfacluree, industry and enterprise
CT the nation. Domestic fabrics arc used
Ttc11J By the troops; cloths, boots sud shoee,
bcsiery and underclothiDg are al made here.
Women are reirg more Of domestic cotton
| end muslin prints, de1aines and cash-
neres; also ladies' shaw1s, mena' p1alds
! snd h1anketR, and fanrels Of domestic manu-
f:e.ure are mere in demand; aud it il in accord
auee with the p1inciplesw hich regulate the con
| aumpt;cn of every 8rticle Of commerce that,
4! as these domestic tabsics ara superceding for
eign during the war, they will eyer after per
mBnently retain the market; against foreign
| goode, from motives Of ecouomg, convenience
! a1d habit among our people.f Alter the ex-
! pected visit Of Nr. CAase TO this city, the gov
e1nnent viii doubtless arrsnga to disbnrae
rapidly large eun6 Of money, and beneficial
! results will speedily manifest themselves in
financial and comm ercia1 activity, which will
impaTt confidence to business men and capi.
talista, snd lesd to gradual increase in nercan-
| tile credit. During the last eight months We
have discounted all the financial and commer
| cisl evils Of the war, aEd also Of our over
trading and paper expansion in 1857 to 1860
/ We sial1 hencetorth begin to reap the good