New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1867-12-17
HlRD TIuES-NO EORK.

Winter has set in early and ,ternly; the
markets are guttcd with fabrics which are sell
ing at low prices; 1851 has been hard year
for manufacturers and merchant, generally.
because of steady decline in the prices ot
Goods, which constrained them to sell FOR less
tban the cost of stock. 50 that there l. gene
rally no profit on the years business, and often
a serious loss. Then the Cotton crop has failed
in large districts. aud H. on tho whole b'io"
an average while il sells for scarcely halt lis
price a wear ago The Corn crop also u bel'"
nm average; hence high prices TOT bread ana
Meat, with no corresponding advantage to
the farmers, who cannot buy goods 80 freely
"A they have done So business slackons where
it does not stagnate, and thousands are out OF
work. We have complaints of consequent
suffering and rapine in Louisiana, which was
desolated by floods in Spring. by yellow fever
in Summer and Autumn, and badly damaged
BIZ the army worm while thousands valnly
seek employment in this and We presume IN
nearly or quite every other city. Hence very
general and well founded cry of Hard Times.
We believe a prompt return 10 Specie Pay
ments. while it could not at once dispcl the
present trouble, and might even aggayatc It,
would enable us, at no distant day, TO over
como it. For business pauses because profits
have vanished. The manufactures says, If
"buy stock and employ labor at present prices,
"my goods will not reimburse me for the out
clay when they are ready to put on the mar
"ket" In other words, steadily declining
market discOurages production. But let us 90
right down to hard-pan, aud then the manu-
facturer will say, "St0Ck and labor are so
"cheap that can take the risk of employing
"them in the production of goods, which can
"nOt well fall below the rates which Resump-
" ton has established" Then bricks may be
made, lime burned, timber bought, and houses
built; while now their erection is checked by
the consideration that the structure which cost
$4,000 last Summer and would cost $1,000
now, will probably be worth but $4,000 after
we get back to Specie Payments.
OF course, there are those who say, Don't
"resume nor, for we have bought lands, or
"hOuses, or stock or goods, on credit and
must have time to realize before Resumption"
But gentlemen you must see that that argu-
ment, if good at all, will be good forever.
The time can never come when there will not
be thousands who have run into debt on an
inflated currency, and will want Resumption
to wait till they can get ont. But, though you
waited a century, they wonld not get out; or,
if they did Others would get in fully as deep
as they are. 1t is falling market that de-
presses business let US 20 at once to the bot
TOM and we may confidently look for steady
improvement thenceforwald. r.t
But what are the poor to dO'
For years, under the stimulus Of War with
its eager markets aud high prices, they have
been crowding into the cities. We judge that
there will he one-tlird more inhabitants in the
cities of the United States on the lst of JantI-
airy, 1868, than there were on the LIST OF Janu-
airy, 1861, while our rural population has
scarcely increased at all. Hence, we have less
Grain less Cotton, less Sugar, less Tobacco, to
sell abroad than we formerly had; while of
Manufactures we have scarcely exported any
for years till very recently, when the low prices
ruling here have caused a moderate revival OF
the foreign demand.
We hold it impracticable to support so large
an urban population rs we now have, at least
while our Wares and Fabrics shall continue to
be so largely imported. There must be heavy
diversion of our National energies from cities
and Traffic to rural districts and farming. We
must carve more fields out Of forest and prairie,
drain, break up, and fertilize old ones, and
largely increase the aggregate productof our soil
We should prefer. indeed. to shut out foreign