The national Republican., 1861-02-16


in the premises, and he must be regarded as
disavowed by the South in what he has been
doing. If this is not SO, let the Virginia Con.
vention speak.
COMMERCE, REVENUE, ETC.
The exports Exclusive Of specie) from New
York to foreign ports were for the week ending
February IL, and since January l:
Es:..s:s Es:: 's: =: :.;s:.s sss.
Since Janu.ryl s77s, 400 s,7ss, ~ Is OK, ,os7
The imports at New York for the month Of
January, in 1859, 1860, and 1861, are stated as
follows:
Ps.,.s,s % ns.sA..a... mere slssss7a .lesa,. .sissss7
g: e.: e.: :ss s...
Total 2oss.,s2s a,aIs, $50 2o,slo,oo.
En-. e.:h 'Ss su,es S.1'A'0.s sss sss5
1t will be seen that the amount of imports,
actually taken by the country, is just about the
same in the aggregate, as for the two preceding
years. But more than a third Of the imports
is now made up of specie and bullion; leaving
the import of goods, taken by the country, only
two.thirds of what it was in 1859 and 1860.
The amount of goods entered at New York,
is about the same as it has been, and the ex
cess beyond the requirements of consumption,
has gone into the warehouses.
This course of things cannot continue long,
and for two reasons. The augmenting supplies
Of the precious metals mast restore credit and
revive business, 90 as again to stimulate con.
sumption, and the effect of the drain Of the
precious metals from Europe, must soon be
seen in such depression Of prices there, as
will limit our exports thither.
Public and private credit have received so
severe shock in the United States, and the
shock has been SO aggravated by the trumpery
and villainous banking system with which the
people of this country are so obstinatey in love,
that the demand for the precious metals was
large. But large as it was, there is limit to
it, and that limit must soon be reached.
In addition to the supplies from Europe, we
have constant supplies from California, making
the aggregate received at New York in Jan.
uary, as follows.
From Europe $780, ,229
From California 4,ls5,lO5
Total ll,447,3 1884
OF this amount, only million and a half
was sent South and into the interior, and at
the last return, the specie in New York banks
had run up to thirty.fve millions.
The future is always uncertain, and espe.
cially in periods of civil convulsion, but there
are many circumstances which render it prob
able that there will be an early and large in
crease in the amount of dutiable goods taken
for consumption, and consequently in the rev.
enue. There is the undoubted ability to pay,
as shown in the rate of exports, and in the i'm.
mense crops remaining to be exported, and for
which there is sure TO be . good demand in
Europe, at any rate, until the next harvest.
And as the purchases at New York York have
been SO much reduced Of late, it may be pre-.
suned that interior stocks need replenishng.
The general condition Of the country is good.
The great West was never so prosperous, and
their prosperity is the reality of large crops and
fair prices for them, and not the fiction of spec.
ulations in lands and city lots. In the Atlantic
States, equally prosperous SO far as agriculture
is concerned, manufacturing has revived and
the great interest of navigation is enjoying
such harvest as it has not had since 1854. The
Gulf State trade is cut of, or rather, reduced
to q cash basis, and so much the better. That
trade, on the old credit system, has swallowed
up more of the capital and industry of the
North, for a generation past, than all their
losses by fire and shipwreck. 1t is to be hoped
that it will never be revived. -
The present course Of trade and of the influx
Of the precious metals, must come to an end
before long, in some way. Ifit is not changed
by an increased consumption of foreign goods
it must be by the return to this country of 9
portion of our stocks held abroad, which would
result from the financial pressure in Europe
which must attend much greater drain Of
hard money to America.
A Tennessee paper says that both wings o
the secession party in that State have beer
broken, es, its wings are broken, its tail
feathers plucked out and its comb and spurs
cut, Why doesn't it crow Prentice.
BEFORE AND AFTER SEcEssIoS.-Tbe State
of Tsns-the Republic of Tares.-Ptentice.