The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-04-15

conceive any arrangement by which the free nayi-
CATION of the river by the Northwestern States
could under these circumstances be satisfactorily
secured. The internal trade of the border slave
States would in any event be grayely disturbed
and their usual product of wheat, tobacco, &c,
placed in jeopardy.
II, on the other hand, the border slave States
should remain faithful to the Union, the prospect,
in the opinion of our moneyed men, is, that the war
would be short. The Gulf States, they seem to
think, could not successfully contend against the
power Of the North backed by Virginia, Kentucky,
Missouri, Tennessee, North Carolina and Arkan.
sas want OF means would speedily compel
peace. In this event, therefore, our mercantile
community do not think that trade would be ia
tally injured. severe blow would be in
nicted upon the seaport towns of the Gulf
States, which would of course be blockaded
Dy the fleets of the United States but
the planters would find an outlet for their
cotton through Northern ports, and would not
suffer very materially. It is not understood that
an invasion Of the Gulf States by Northern troops
IS contemplated in any quarter and there is there
lore no reason to apprehend that the culture of
cotton would in this case be impeded or disturbed.
80 far as the city Of New York is concerned,
the outbreak of civil war must be regarded as can
ceiling the debts due by people in the seeding
States to our citizens. No accurate guess can be
formed as to the amount Of this Indebtedness It
may amount to thirty-it may amount to sixty
millions Of dollars. No data exists upon wkah
plausible estimate can be based. The aggregate
sum is certainly very large, and its reputation
which war is sure to involve-must lead to Sc
rious embarrassment in mercantile circles, and
to large number of failures among houses
in the Southern trade This loss of money
will, moreover, be followed by loss Of
trade. Pending the war; no safe trade
can be carried on between New York and the
seeded States Even after the establishment of
peace, the poverty of the South, and probable
though futile efforts to establish direct trade with
Europe, viii delay, for some years. the restora-
ton of old commercial relations The first VIC
Tins Of the war will thus be the men and the firms
which have been most conspicuous in upholding
the rights OF the South. 1t must not be supposed
however, that the failure and obliteration of our
great Southern houses will involve the ruin of the
city of New York. This great metropolis is the
natural and inevitable outlet for two vast pro-
ductive regons-the cotton producing region of
the South and the food producing region of the
West. When one fails the other almost invaria-
bly, comes to our rescue. New York prospers
most when-as was the case in 1856 and 1860
both regions pour their products freely into its
harbor. But New York continued to increase and
multiply in years when the cotton crop
failed; it did not decline in 1858 and 1859,
when the West had no food to send us, and could
not afford to buy any goods. Now the South fails
u.s. but the West is supplying this city with an un
precedented amount of business. Our receipts
and exports Of food double the average at this
season, and while houses in the Southern trade
which, owing to the poverty of the West since
1857, are the leading houses in the city-complain
of utter stagnation our Western jobbers arc doing
better business than they ever did before. There
is reason to suppose that the West will, through
out the war, continue to have large surplus of
food to export through New York, and will need
enough goods to give employment to our i'm
porters and jobbers. Whatever shape the war
may take, the United States are pretty sure to re-
tain command Of the sea- 80 long as that is safe,
the best harbor in America cannot well suffer for
want of trade.
New points crowd upon the mind in connection
with the unprecedented events which are occur
ring. We shall take them up from time to time.
Meanwhile it may be well to notice that the actual
outbreak Of hostilites at Charleston gives living
import to the commentary on the law Of treason
delivered some months since by Judge Smalley, in
this city. 1t is well that our merchants should
understand the subject. From this time forward
any citizen of the United States who supplies
arms, or munitions of war, or food, or COAL or in
telligence, or money to the communities which
are at war with this country renders himself liable
to the pains and penalties of treason. Any at
tempt to negotiate bonds Of the Confederate
States would be regarded as treason by the
United States, and would be punished accord
ingly. If, as rumor states, factories in Con-
necticut arc engaged in supplying arms to
the Confederate government, the companies and
their agents are all guilty Of treason. Express
companies and other carriers who carry such arms
or other articles constituting laid and comfort
are similarly liable to prosecution. Merchants in
the West sending food down the Mississippi fall
into the same category, and incur the penalties Of
the act. 1t is understood that an example will
shortly be made by one of the new district attor
MES with view to afford our mercantile commu-
nifty fair warning.
The import trade of the port last week was light,
as was expected; the export Of produce, like that
of last week, considerably in excess Of the average
at this season. We may fairly expect q continu-
ance of large food exports throughout the spring
and early summer months. The following are the
comparative Custom House tables of the trade Of
the port for the week and since January L.
IMPORTS.
Fbr he Week. 1859. 1860 1861.
Dry goods ......... S346I, 986 1,592l04 $50 ,O72
General merchandise. 2,294, s21 2,s203N 1603,9l2
Total for the week. SIS 756, 8o7 1892 425 2S53,9s4
Previously reported 81 ,92S 6663l 2s3 50644,34
Since January $67 1856 1856 023,7 0S 5349S,3sS
EXPORTS or PRopucg MERCHANDISE.
1850 1860. 1861.