The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-07-14

q war against Mexico, it will be impossible for
the United States to look quietly on and see
neighboring republic crushed by the on
slaught Of European monarchy. We shall be
forced to order General Grant to cross tho
Rubicon and make final and bold stand Ia
assisting Mexico to fight out on her own soil
the grand battle which Europe is apparently
determined to wage for the overthrow of tho
progressive civilization of this continent
The Crops and Business Of tho Country.
The country is just now in this anomalous
condition, that while the government appre-
hends deficiency in the revenue, and is likely
to be embarrassed in consequence, the trading
and commercial interests are doing very we'll
and are on the eve of great revival Every
where the crops promise an unusual album
dance in grain, corn, hay, fruit and even in
cotton, compared with any year since the late
war commenced. The government may suffer
through the gross Encouragement Of the Trea-
sury. through the robberies and frauds in the,
revenue, as we have heretofore shown, and may
even come to the verge Of bankruptcy, but che
resources and progress Of the country are such
that business generally will be prosperous.
Political economists and even some statesmen
may see in this an anomaly and a problem that
thoy have not heretofore understood. They
have been in the habit of associating the pros
porous condition of national treasury with
the commercial or trading prosperity Of .
country, and vice versa. With US at the present
time this theory is entirely reversed. We have
abundant crops and healthy state Of trade,
with the best prospect of good time coming.
while with the Treasury all looks gloomy. The
truth Is, the vast and varied resources Of this
mighty continent, developed as they are by an.
energetic people, are independents Of and can
not bs seriously checked by the financial
agency Of the Treasury Department It u
possible for the government to be bankrupt
while the people are prospecting In their busi-
ness.
At the time the war commenced and In the
early days of 1t q vast amount Of produce,
and of cotton. particularly, was brought ous
which aslonshed the world. Hardly any one
had an idea of these latent and reserved riches.
They proved immensely valuable at the time.
AS tho war progressed, however, production
and the means of getting at 1t were checked.
For several years we felt the pressure Of this
state of things; but now we are rising above
It, and are returning to our normal condition.
How different is our situation from that OF
England There they have reached the limit
of production, and are governed by an artificial
financial system At one time the rate Of in
terest at the bank is ten per cent, and a few
months after, as at present, II Is only from two
to three per cent The slightest disturbance
there creates Q great change and produces
serious effects throughout every branch Of
business and every class Of society. Here the
mass Of the community and business in general
would be affected very little, If at all, from
similar causes, because our well being rests
upon more solid foundadon-ths vast and
varied productions Of great continents Yes
terday, for example, there was shipped rom
this port for Europe In the Erin, SaxoniA, Cisy
Of London, and Vile de Paris, upwards OF
three million two hundred thousand dollars in
gold, and this will not be feh IN inc greas
business transactions Of the country. Ten
times AZ much would not The gold and stock
jobbers in Wall streeG may try TO get up q SEN
satiou for gambling purposes but the shipment
of this specie, on, as we said, ten times -
much. cannot materially affect the business Of
the country. In England the drain Of few
millions Of specie creates . panic here II Is Of
little or no consequence. With sufficient
government currency and with the ordinary
and natur al development Of our wonderful
resources, the people can prosper when other
nations fink, or when Mr.. Secretary McCulloch
may find his Treasury empty.