The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-01-27
The Commercial Prospects Before U.s.


New York have the prospects of profitable
and fourishing trade in the approaching spring
and summer been more bright than at the pre-
sent time, apart from the distractions which
the political troubles of the day interpose to
the fulflment of the promises which the fnan-
cial condition Of affairs hold out. Specie has
been pouring in upon us by millions from Eu-
rope and California for some time past, until at
the present moment there is probably not less
than thirty-seven millions in gold and silver
deposited in this city, awaiting the settlement
of the great political questions of the day to be
thrown into active and productive application.
From the crises of the past few years the
country has been just relieved, and New York
is prepared now to avail herself as she has
ever done, of the rejuvenated prosperity which
blesses the land; but, unhappily, the
incertitude of public affairs surrounds COM
merce with embarrassment as with wsll Of
adamant, arrests progress, and puts checks
upon all mercantile transactions; for who will
move in an onward direction with future
clouded as ours is? Capital finds no outlet, OPP
portunites are lost and resources are thrown
away, while the country balances on the verge
of chaos. Could the existing political difficulty
be settled, the business of this metropolis
would experience a revival in the coming
spring such as it never knew before.
New York leans upon two sections of the
country for its commercial prosperity-the
West and the South; and it has so happened in
past times that when one section failed her the
other held good. In 1857 the financial pres
sure came principally from the West. The
loose system of credit which we had adopted,
followed by two years of short crops, brought
on the disaster then, and the West became
bankrupt; but the Southern trade was good,
the cotton crop was abundant, and the South
redeemed itself, thus staving off what other
wise must have been inevitable ruin to all the
commercial interests of this city.
Now the West is recovering from the blow.
The harvests of 1860 were more luxuriant than
any which that section of country has ever be-
fore known. The granaries are laden with album
dance, and bat await an outlet for their store to
enrich the producers. For the past two or
three years the West has been buying compa-
ratively little; hence her wants of all kinds Of
merchandise-dIy goods, groceries, clothing,
boots and shoes, machinery, everything, in
short, which her people need--are very greatat
the present time, and New York is the market
to supply these wants. There is money
enough in our banks to move the
breadstufs from the West to our Atlantic
ports, and shipping enough here to convey them
to Europe, where, in view of the present trou-
bled aspect of affairs all over that continent,
there is every probability of their being
needed. Even with the falling off in the cot
ton product last year, and the unsettled condi-
ton of the South generally, we still have the
recuperated West to rely upon.
Thus it will be seen that nothing stands in
the way of large and prosperous trade ex-
cept the political disaster that has been show
cred upon us by the fanatics and the politi-
clans. If that can be removed by the wisdom,
Cancellation and compromise which are certain
to arise from the expression Of the popular
will, if that voice is fairly appealed to, pc
riod of unexamplcd prosperity is before the
country, and in an especial manner before this
great commercial metropolis of the nation.
Surely it is a contamination worth striving for.
1t presents prospect too hopeful and too bril-
liant to be overshadowed for mere party SUI
premacy or the triumph of an abstract idea,
which, when attained, leaves nothing in the !.
future but barrenncss and desolation.