New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1861-02-26

ability 10 pay debts, or to keep clear OF 'neni'
Tried by this rule, the South has been poor ioi
half A century, is poor now, ana uhoel hei
rrcsent system must remain so. NOTWITHSTANDING
r.. v.st capital in men, land, and machinery
49,. ;naabtadpess 70 the North has always been
anormous. She has invariably rehed upon II ioi
a wears supply of food and merchandise IN anu
c;naticp. Extravaganza aud want OF thrnt nave
1r;rsp her TO this extremity, and all three are
.be inevitable fruits of the peculiar ln'N'u.OH
she pertinacously adheres to. No Other sec''C"
of the Union presents similar spectacle nor w
.ba usrchants of this city now suffer from "D!
insolvency but hers. 1t is well enough iOi 80
to hone that this Indebtedness VIII YET pe pow
hut promptness and punctuallty are INC '-"
.,,n..nre. If value for commercial assets' anu
tha.o a. too many painfully realize are h'.e
-, tbon waste paper. New-York cannot III
tho natsre of things, grow richer by credi'lng
customer who is annually growing poorer.
The cotton growers accuse us OF becoming tiVH
., their expense 1t cannot be by handling 'reit
cotton. because we showed the otnei u"'
we hanG,ed only the merest traction OF 'u' 'f
II cannot be by buying their e1ch"nse, 49,
IN the best Of times it yields very nis's
g. ubi,a st others il results in less IL can
20 10 nv selling goods to them, Tor at 'he "',
,,o.t they have but Sl0i, 100000 to spehu, Ho'
,,o-s than half of which can they afford to sPend
.h,oad nor do they spend all Of that ha!i mere
An the business they bring us is the mere irac-
tiop of our grand total The exchanges "' 'uI
Clearing. House average $40, OOOUVo ualy, Hnu
Cor sinrle week exceed the whole annual sur
nina or the Cotton States. For fortnight theh
amount ia greater than the entire eSPortable pro-
5uct Of the whole South If Southern funds are
IodUed in our banks, and thus take part III
the general cash movement, they are placed mere
NOT for our convenience but for the beneht Of
fha owner. But Northern, Western, ana Lust
erp deposits of like character far exceed Hleln
in amount. Their owners derive some oei'eH'
by keeping balances at the comnercia' ctn'ti VI
.ha ,.tion and are content that we should snare
4 The ouerulous South alone complains that
ue are incidentally the gamers by performing
dpty which she voluntarily thrusts upon u.s.
strike ont from New.YOrk the trade IN cotton
and cotton-blls and so far from sufsring by the
act there are multitudes among us who believe
chat we should be great and permanent gamers.
Our purpose now has been to show the sense
iessness of the clamor that this city has grown
up iu consequence OF its trade in cotton and lts
oollaterals. What are the true causes of its IN
exampled riches may be shown hereafter. Cotton
builds up no great cities. 1t has not achieved II
even for New Orleans where ten bales are re-
ceiyed and shipped TO one with US. II is the vast
volume of Western traffic descending the MisslS-
sippi. lining her leyee with acres Of steamboats,,
that has lifted New Orleans from her Gallo stag
nation. Charleston has retrograded Mobile has
Remained stationary; Memphis alone, of all the
cotton ports, has added to her size sufficiently to
excite remark, even this being mainly caused by
long interior lines of railroad. The cry Of the
Cotton States is that they produce everything
and that we produce nothing, and that we make
money out Of them by importing goods on which
the Government taxes them even worse than we
who sell tho goods. But the evidence is before
us that being themselves poor, they are wholly
unable TO make others rich. A prudent man
lives within his income. We have shown that
the average annual income Of the shareholders il
only $685. out of which they must live, educate
their families, and spread Themselves OF Saratoga.
Knowing what their habits are, and seeing their
means TO be thus limited, what wonder that, as
o class, they are continually in our debt, and
that, by mere cotton growing, the South never
can become rich