The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-07-13
Revival or Trade ana COmmcrce-The
Bsun"ers OF Mercantile Spec uratOTs.

Revival or Trade ana Commcrce-Tho
Banners OF Mercantile Spectators.
A tDee,ink of the Association for the increase
and Extension of America Commerce having
baeo hslo at the American Exchange Bank,
anr n cop.W'tee having been appointed to con-
slider the subject Mr. James Gallatin, the Pre-
Sio oot. presented report which we have
Icendy published, and which Is full of errors,
oer,si'g u total ignorance Of ths question on
WIN, they un JeI tuOk to epl'sbten the public
mind
Toey truly state hat sour com strce at this
tme rs charsce'izeo ny failing If in imports
of IuAutlss sDo The more costly fabrics, de-
crtsse IN exports II eotoD, ac increase in ex-
l'orts of food, .ua fbs liqu,dau OF baisnces
Of trade IN Cus favor by inporrs ~ the pred aus
metals And Their onj-ct, they say, ia to
asCer ain the best means Ot opening Dew
avenues OF trade with other countries "
But these gentlemen ignore the cause
of the failing of III our Imports aud
he general staeDst'on OF our tfaue and
commerce, breaking down banks here and
"a 10. AID ,u,.ing oe sriy VI our mel CD ,nts
eAc-pt those N sbe 90 at trade; Dor 20 they
see hat hr ght prospect Uo~ opens for the
revival ~ cOInm rec, 40 Ia very different
cbaDp.l- th,o shoee a.tet which n y sre Crop
10, III tbe oa,k WoDe they ore tu,nrx their
-sye6 70 fore ga trade foranes .,,s t. b. made
AT home Tn.r oomnoppi, ace pl4;,tudes nh mt
De iIrsnon Of irafie a'e be-'o. rbe q est,on at
issue Eq,al'y unfTtnoa@ are they Ia &C
Counting ,"r the eco mons accumu, ,tion o.
noOfy III our banAs wl,l. he operations o,
'tads aid commerce are p-raiyzrd la allu-
500 to the news Of Va" h.w ueedeo by the
government, they FAY :-"li IA the economy of
,ha psnpe ~ Joh bas pyoc,ced unequal sup
plies of re,i no.ey Ia III, b,ur q gc-a'e-t
o"ao." So far from this oeiog true the Amesi
caos ere the most esJavs,n ant pttiou or be
face Of tbs esrth No o h.r peOp,e save TO
,;r'ie mo1ey 10 Proportion Ia Their inooues
The fac, o' son flfJ millions tf ep.cie beng
III tn banks at New York aoeuo u,a "A While
CONNIE c'sl distress ansdnos. Ia without para,-
!ei III ,be history Of the country. The Inasop
~ tnst ths pr sent revnir,uD Goes Jot prog
fcou q viola ion If tre Uaturh, ia~s OF trade
IN 1887 and III 1867, bat entirely from 90
i'noal ca"~e- and at n tiale o. hu5 tor shes.
causes our CONNIE cial pr"snerity would have
i,s.n to 3 h-'gnt DC, ono all sr. edent
A year ago the pt0.O.c nrVer was 10 bright.
Ii to happened that he orora In Euro0e were
unusually short, ana England uesded our
nrest-'aha to large amount; wnila. on III.
other hano, our CROPS we're 70 suyerab8ncant
hut. I.n Itx,
meet tie oemsnd. rhc.e, with tn cnstop
crop, placed the balance ~ trade c0mcisse,y
in our favor, snd Pr psraroDs wer. beiDg
@aft for Immense Imports. Bus the action or
h se-eiiog States, In coDseQuence Of he elec-
tion OF Mir Lincoln. overcast tho wD"le vrns-
pect with shick darkness. The mesc.auts,
seeing he ciouos charged with the thonre.s Of
war would nrt 'Dport, ard hence the q 5 .osp's
tcom Eu oJs for the brenostutis Of the West
apd ere cotton Of tie -olttt came nor IT. ssiks,
musllns and other FOODS Int in h "a csso
wh,ch was deposited IL New Yors b. eal-
po,lum and centre Of thu trade Che South,
which bad Gen living upon credit, had already
been patio for IT'S Go,ton ny previous me chsn-.
disc, end the money Consequently oslooged 10
the com nerc'al metropolis q; toe Union.
TIE ususl avenues OF trade being cia.ed in
conf eqnence OF tas political distu, b Dces OF
tie country, tb's spe clio ties uDprO0uot've III the
vaults u Wall erect But tbs tx eosive scale
upon which The war ia to be carried GU 10y the
authority of Congttss will nke 1t from Its
hiding places and briug It irto the lignt Ut Gay
new trade will be created by the e1peadr
ture OF fouy o. q 90 huuJ,ed millions Of collars
ia the country, end tls fifty Diiioua Of gold
will b. its basis 1t viii be lent to the govern
uent; for that is tho 0e It thing the 6nancters
can do with it under the circumstance. They
will get good iuteres. for tue loan. The specie
will rapidly return to the banks, 10 the course
of business, ana they will lend it sga,n to the
government, and thus keep it tuning con
tiDualiy, the very life blood OF trade circu-
lating through the @hole community. The
effect will be that domestic trade viii spring
up equivalent TO foreign commerce, and
which will supply the place Of protective
tariff The currency will be kept in the coun-
try, and instead of importing goods we will
manufacture them.
No doubt the burthen Of the war must be
borne; but it is by the next and the following
generations The present sill prosper under
the expenditure. This was the case in the wars
of France under Napoleon the Great. 1t was
the case In England, too. Railroad enter
PRICES, though costing enormous sums Of
money, have the same effect They ususlly
break the projectors; but tbe people are bens-
fitted, and the resources OF ths soil are devcl-
opcd. The money expended in the ooastruC-
ton of such works Is kept La the country, and
II circulstes among the community 1t Ia In
fact their own money, which the people spezd
smong themselves. They have all the clements
of material wealth IN shair own soil sna oAsd