New-York daily tribune., 1865-12-18
WEaY 1T WON'T DO.

deprecate resolute effort to resume Specie
Payments at an early day, and who Wish 10
make us see the matter in their light Let us
briefly show them why We can't. And 'hough
all they urge so far as it has force at ALL TENDS
to prove that we shoald nerer get ont OF the
slough of Suspension. bat should rejoice to
founder and wallow in it eyermore, we VIII
presume that our friends really mean to go back
to soIyencv at some indefinite future day but only
plead for time, thinking, or hoping, or vaguely
trusting that we shall lie better able TO resume
lby-and.bv if we meantime keep thingS going as
they are.
Let us show why this is an error:
/. Ours is to-day country Of exceptionally,
enormously high prices-that is, country
which affords TO the rest Of the world excellent
markets to sell in, but very bad ones to buy in'
We have hundreds Of thousands of bales OF Cot
ton piled up in our ports which oughtto have
gone abroad and been sold months ago, reduc-
ing our foreign Indebtedness by many millions
of dollars; vet it is held here b. the spirit OF
Speculation. which redundant Circulating Me-
dunn never fails to excite. Not less th"h
$40, ,OOO, 900 worth Of this one staple has been
destroyed by fire in our erammcd ware
houses since it ought to have been shipped, anu
is thus total loss to our people. (Wriehts cir
cular of the 18th inst. estimates the stock now
held in our seaports at Se0,0O0,00o.) And,
though Cotton was selling at Liverpool atthe last
advices for 40 to a. cents in gold per pound,
the bulk of our stock is still insanely with
held, in the hope Of fcrcwding up the price still
further. We shall be disappointed if much Of
il is not sold great deal lower within the next
year.
So with our Grain and Meat Chicago ha;
had her warehouses choked with Grain foi
months, whereon her operators, instead OF push
ing it to market, have been betting rs the Bulls
and Bears Of Wall-st. bet on Stocks This
Grain should have been sent forward while the
Lakes aud Canals were open, giving employ
ment to the forwarding interest and bounteous
tolls TO our Canal Fund.- but Speculation, I'M
PEELED by plethora of Currency. has kept ii
back, awaiting impossible prices; and now we
have complaints that the Grain is heating, sour
ing, spoing-that tic waTehousemen exact
exorbtant prices for storsge-that the Railroads
are extortionate in their charges foT Freight.
&C.. &c. The upshot Of the matter is that va
have a diminished Canal revenue. dear Bread
on the seaboard, and idle ships in our harbors'
when all would have been otherwise il we had
pressed steadily toward Resumption since The
lst day of May last,
The Pork packing season i lairly ulon US.
and the look is very squally. The old Pork
operators, who have made fortunes on the
rising markets-that is, the depTecating Cur
rencyZof the last three YEAR, must try to kecY
up prices, OF submit to frightful losses on the
heavy stocks they now hold. SO there is {
spasmodic, desperate struggle TO keep. Pork NJ
to the prices Of last year which does hot real!
succeed, because it cant. Some OF the mos
extensive packers Of other years are not packing
o barrel; others would hold off likewise if they
were not obliged to help bolster up the market
but all won't do. Hogs are good deal cheape
than they have been; and they win be cheape
!. yet ere long, unless We are greatly mistaken
= Yet the premium on Gold has not essentiall
varied for several months past.
!. III. All this time. we are importing good
|. enormously, and giriag our notes for them pa,
J. able is goM .&re TO tceaty gers hence, ,rh hg
u gold interest semi-annu0Vy-said notes BIN
graciously taken at thirty TO forty per cent di'
,d MT 70 M
n Dick and Harry, who may pay or not as the
c can: they are the notes Of our whole People
And, instead Of exporting our surplus CottoT
Grain and Pork in adequate quantities to day
at their present enormous prices, for the ClothC
we are wearing out, the Wines we are drinl
ing, we are actually sending abroad millio
after million Of our National obligations, sellin
, them at 60 to 20 cents on the dollar, and thu
( mortgagng the sweat and toll Of our childre
to pay the cost Of our extravaganza and luxury
And this we shall continue to do so long as ou
Currency remains inflated; and we shall sto
doing it whenever we set resolutely to wor
contracting our Currency with view TO tn
Resumption of Specie Payments-not one da
sooner.
Ill. "Well: put up the Tariff"
Yes. we agree to that but it will not SUI
fee. Keep our Currency as redundant as
now is, hence our range of prices as much aboy
that of other nations, and q tariff Of 100 pc
cent. would not prevent our running deepe
and deeper into debt What does Mrs. Nc
shoddy or Flora McE'limsey care for the pric
Of new sbot-silk dress or love of Paris bon