New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1866-03-24

tho builder. the contractor all make new en-
gagements in view Of this contingency In
other words, hiring labor or buying materials
wherewith to produce something that cannot
be sold till months hence, involves risk pccu-
liar to the times which no prudent person will
assume without a prospect Of extra profit as
compensation. We deem this unhealthy, and
only to be endured while it must be-
III. We freely admit that some interests,
some industries some laudable enterprises,
would be unfayorably affected by instant Re-
sumption; but We think this injury would be
trsnsitory, and more than compensated By coun-
terbslancing benefit. A. present, 1t is not prE-
dent 20 build houses nor construct railroads. nor
improve lands. unless under circumstances Of
peculiar urgency; for Labor, Food, Materials,
cost = to ~ per cent. more dollars than
they will after we shall have fully re.
turned to soiyency and a specie basis;
so, thrifty capitalists button up their
pockets and say, We viii wait till Brick,
something ike specie prices, as they ultimately
must and will fall" We believe, FOR instance,
that the Pacific Railroad should be pushed at
the rate Of 500 miles per annum till COM
pleted; but we cannot urge those who have
undertaken it 50 TO push it at present prices.
We believe that &C. 900 new houses ought TO be
built forthwith in this City and its suburbs;
l. yet, knowing that a house that costs $4,000
now may probably be built for less than $1,000
two years hence, we cannot urge their construc-
ton while our Currency. and consequently
Prices shall remain a. they are. II seems to
us best, therefore, for every sound interest that
We should have Resumption at the earliest day.
". The present artificial initiation of prices
stimulates smuggling on every frontier and
false swearing at every Custom-ilouse. II ne
cessitates a very large excess Of Imports over
Exports, thus rapidly sinking our country more
and more deeply in debt to Europe, AID
causing a steady outflow of our National OBJ
| legations to be sold for far less than their
true value. Maniiestly, this cannot go on with
out producinga crash. The balance Of trade I"
is no chimero but a stern, sad reality, as every
prodigll, and every prodigal's creditors, must
know lie who spends all his income and % to
to 80 per cent. more is surely on the road to
ruin, and must arrive there sooner or later
according to the size Of his pile. And
it is the same with a company, a community,
a country. as with an individual. And
We, the American people, are now travelling
that road. We are to-day importing many
things that we ought to make at home, aud We
are exporting bonds-that is giving our corpor-
ate note Of hand-in payment. We can do
something TO counteract this ruinous tendency
by reducing our Internal Taxes and increasing
our Duties on Imports-and we are for doing
both promptly and ygorously-but that, though
WELL is not enough. Prices in general are far
too high with us. Increasing duties will not
arrest smuggling or fraudulent differentiation,
but tend to increase both. We must have, in
addition to these cheaper production and lower
prices for home products. In other words, we
must have Resumption.
Y. Initiation is creating and difiusng preju-
dice against the Protection of Home Industry.
Thousands attribute to the Tariff the natural
consequences of a great War and a deprecated
Currency. They forget that Cotton is 45 cents
per pound, and other elements of clOth-making
unnaturally dear. and grumble that they
can I buy Shirtings and Sheetings at
something like the prices OF old times. True,
the wholesale prices Of these aud other Fabrics
have recently fallen % TO 80 per cent; but the
retailers. who were quick enough to respond to a
rise, generally ignore the fall, and Cn selling)
cling to the prices of three or four months ago
LAYING as much of the blame as possible on the
manufacturers and the Tariff. We note this
with impotence.
VI The bulk of our Government shinpas
tiers are wearing out. They are ragged,
greasy, filthy, illegible nauseous. Counter
fets on them are thick as leaves and the
President has a weakness for pardoning the
counterieiters that robs the law of its terrors.
Once the sub GreenbGcks were rustling, glis-
teninc, insinuatng novelty; they have at
length become a bore and a nuisance. The pub
lie fingers yearn for the unfamiliar but remem-
lbered feel of old.fashiOned dimes and quarters.
To have this, we need not redeem all the
Greenbacks, nor third of them, but simply
provide that they shall be henceiorth redeemed
on demand at the Sub-Treasury Cor Mint in
this CITY. That will make all our dollars real
Idollars-Nstional Bank as well as Greenbacks,
since the former are redeemable in the latter.
Then we can cancel the disgusting shinpla ,ers,
aud have q National Currency Of uniform value