The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-01-30

cations In this city that Norfolk, Memphis and
Baltimore are going to enjoy unexampled pros
perity, growing out Of the new impulse given to
trade between the Chesapeake and the Mississippi
Valley, from political causes. The Baltimore and
Ohio Railroad, and the Virginia and Tennessee
roads, will begin to feel the effects of the in
creased activity these routes. If Norfolk Mem
phis and Baltimore kept open to the trade Of the
world, an immense amount Of produce will be
drawn over the Virginia and Baltimore routes
Frelghts will have to be provided; and thus, by
little prudence, our Virginia and Maryland friends
will be able soon to realize that dream of every
Southern man-transatlantc steam communica-
ton between the Capes Of Virginia and Europe
The manufacturing capacity of Baltimore and Rich
mond would supply that industrial element so es-
sential to all great seaports All these advantages
will be dashed by precipitate action. The coal
and iron of Maryland are as important elements OF
state wealth "a cotton or tobacco. Cheap coal
is great modern power Baltimore would find in
her foreign trade and manufacturing prosperity
within the Union the development Of her natural
advantages. Aside from other advantages, her
position is now to the coal interest of Virginia
what New Bedford was formerly to the whale oil
trade of the United States. Maryland and Virginia
coal oil can be made almost as important a pro-
duct as the sugar Of Louisiana. And the fact that
the leading men of Baltimore are holding back the
disunion movement speaks well for the future Of
the city and the credit she will enjoy within the
Union. AS to Memphis, if she understands her own
future destiny, she will secede from the State If
disunion triumphs in Tennessee, and take up Mayor
Woods programme and become " free CITY,"
Let the merchants Of Norfolk, Baltimore and
Memphis look to the future.
BY reference to the shipping column, it will be
noticed that as at Mobile. nearly every vessel at
New Orleans cleared on the 2lst and 3d. 50 as TO
obtain q federal clearance. We observe that
some Of the New Orleans papers argue that as
Louisiana is now sovereign State, her right to
issue clearances is indisputable. That il not the
question. Louisiana may be a sovereign as All
the Russias; but no power in the world has recog
nized her sovereignty, and until it is recognized
clearances signed by her officials and vessels
with no other papers than those issued in the
name Of the State Of Louisiana, will be viewed
with suspicion in every port in the world The
law of nations and the maritime law are clear on
this point. A vessel without regular clearance,
executed in the name of some recognized nation,
may be a privateer or a pirate. The presump-
ton of law is that she is not fair trader. And
the port authorities at many ports would take her
into custody with view to ascertain the facts
Until the Southern confederacy is recognized it
will be safer for merchants to ship their cotton
from Savannah, Wilmington Norfolk, Baltimore,
or New York than to run the risk of sending it to
sea with State clearance.
The business of the Sub Treasury was as follows
to-day
For customs NEUTRALITY-SUSPICIOUS.. 80 900 90
PAYMENTS. tl3 9J3 59
balahce o,Voc ,olt W
The exchanges at the Bank Clearing House this
morning were sl9,53O, 1872 "a, and the balances
81, ST., 1872 O5.
The Leather Manufacturers Bank has declared
semi-a annual dividend of five per cent, payable on
the lst of February.
The statements of the Philadelphia banks for the
mast two weeks compare as follows