New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1861-07-15

apce of the market, into extensive ose'"a's' ~
suffered severely in consequence. Ane ''see' '"e"
made COMPELLED many to struggle along year or more
loaded with debt until The hopelessDess OF the prospect
In 1860 forced Them into liquidation Others gave up
81 once. The tanners suffered terribly. Men with
suny fortunes were entirely ruined. II cannot be SAID
,h, there has been any healthy recovery Of the whole
trade ,ipce the dsasers Of 1852 There was DO rebel
Io, then But that monster seems 10 have completed
the obstruction of much of the fabric left standing by
IN. wild oyertr ,dne of that year. Those who Ie in
INV wav conyersan with tie course VI the shoe and
leather trade for she past three years, will be quite
willing 3, admit that the found lions Of the present
depression were laid in 1859 Hence, even If more
stagnant than most other branches Of which doubts
may be reasonably entertained there is double reason
for il. VI f
Its prospects for the future in respects deli
mite, in others only conjecturd. Ii is certain thnt
many millions Of people wearing out their shoes as
rapidly Ms in the most prosperous times II not laying
ones they nevertheless getting ready to do go
by using up the old This wasting process cannot be
arrested even in the South by the port blockade. Con-
sumption of the old soekis thus steadily gongforward
aud must in time create good vacuum, TO be hded
from the stock Of new work now on hand This for a
prosperous coudiion of the country, is not excessive
tLougb quite so for one Of stagnon The same stte
Of things existed in 1857. That crash was succeeded by
manufacturing paute almost great as the present
The consu nption Of new work was rapidly lessenec,
but that OF the cid went on In nine months ii 70 con-
suned the stock in use that when business returned
only partially 70 its old healthy channels aFonish-
ing revival took place. The market was promptly
cleared Of ts accumulated stock Of boots and she's,
prices went up, and manufacturing became unprece-
oeniedy active The trade made the mistake of ae-
eeptng this sudden demand sprngne from the regu-
lar legitimate ants OF the country and thence holding
that would be Seadiy maintained; whereas, most OF
il was only the natural rvooi Of previous compulsory
abs inence Acting on this mistake. manufacturers
stimulated production ran up prices Of materials Oh
themselves, and very soon gutted the market The
sudoennees If this glut unquestionaby promoted
by the extensive use Of the new and beautiful nachi
merry which has been recently introduced into the shoe
business II produced disastrous results 70 many wor-
\ thy members Of the trade. la 3..
The markets sgaiD glutted prices are again low,
manufacturers again idle, md thirty millions of
consumers Practicing another compusory absti-
n-nce There need be no doubt of the result of tbese
coincidenoes. When business shows the slightest in
d,caiion of permanent reviv J. the shoe and leather
trade wilI spring forward with amazing activity. The
entire stock then ON band will be found insufficient TO
fill the vacuum created by what canpot fail 10 be
Ihorvu,h consumption of The stock in nee. The mar
ket will be quickly cleared and manufacturers will
hasten TO replenish il. Half the South nnst now be
going barefoot and in six months the other half will
be as much down at heel is already down in the
mouth. The North alone Gun supply IT. ard though
much sturdy resolution has been found TO sell thing
in that quarter except for cash, yet old folly Of
doing 30 on credit will certainly be reenac;ed. Oui
determination not IL cell tie South credit is quite
as mach bunum In her determination not 20 bay fur
tber Of the North. Republication iIeef will lie forgot
ten; and Bankrupt Law will prove the Common plat
70 m on which both sections will assemble 10 celebrate
a common ruin, shake hands, aud take fresh start
AL other sections viii want shoes Machinery viii
he driven more actively than ever TO ill the vac
uum and az the abstinence has been longer than al
any former tine, must the quantity 70 be nanufao
tured be greater.
Whether this manufacturing energy can be profit
ably maintained for longer period than II has been on
similar occasions, or whether Will be succeeded by
speedy and disastrous gut heretofore, is question
thai naturally up for answer. There are strong
reasons believing that when the general revival OF
buuess does come, that Of the shoe and leather trade
will be more lastngly remuneiative than i has ever
BEEN II cannot be doubted the old folly Of overpro
duction will he reenhcied CT the beginning, by which
many must suaer. But after supply and demand have
once regulated themselves, Protection, now fixed
fact will come in the great maintaining pow by
which the whole industry of the country will DO kep'
moving steadily aud prof,ably. Protection, hence
forth is to be a permsnency. Thanks TO the slave
holding influence which repeatedly destroyed it, it
has at last revived and perpeuated it by creating
national debt so large make Protection among the
ceanties Of the future. On this fact alone the shoe
and leather trade may rely for its future prosperity.
TIE astonishing quickness with which 1t hes revived
after very monetary crisis is beea it has had sole
possession of the homo market. As often slave
holding Free Trade destroyed that market, the shoe
and leather trade was impoverished. But hereafter d
will be almost as completely in possession OF every
other leading interes-on, Steel &c-and instead Of
only single interest being suddenly revived al win
advance BY safe approaches to prosperity, common
impulse iufnsng life and strength into each. sl
THE ENGLISH-AMERiCAN QUESTION.