The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-12-03
Condition and Prospects Of the Country
The Trude Convention ut Richmond.

NO ITiafe SOuSoutiOu u lAsCuHsohNs
Simultaneously with the report we published
yesterday of the proceedings Of the National
Board Of Trade at Richmond, Va, appeared
the monthly statement Of the public debt and
condition of the Treasury. Both pertain to
and reflect, in a measure, the financial and
commercial state of the country. The revenue
continues TO come in abundantly, and far more
than the current expenses of the government
amount TO- There is over seven millions and
half surplus for the month of November to be
applied to the liquidation of the debt, while
the amount in the Treasury is over a hundred
and eighty billions of dollars; or, de-
Quoting the I'd bonds and sinking fund,
which Mr.. N reckons as cash in the
Treasury, still remains nearly a
hundred 'ai,1ax millions in coin and
nearly twsluA millions in currency on
hand unappll<d and dead capital-tbat
is, reckoned in currency, the Treasurer
has over hundred and forty millions Of spare
cash. Talk Of the resources and wealth of
this country-why, Mr.. Boutwell, could 60 over
to London and buy up the Bank Of England
and remove it to the United States There is
about as much gold lying idle all the time in
the Treasury vaults as the Bank of England
has tossepresent the whole circulation and
business of England. The national debt has
been decreased nearly seventy-two millions
during the first nine months OF General Grants
administration. BY the end of the first year
hno p,iliopo ohob ,x,:J 10 Enu;-
dated This exhibit of the condition of the
revenue and Treasury shows the wonderful
resources of the country and leaves no fear Of
the extinguishment Of the public debt within
less than twenty years
AT the same time some of the industrial
interests of the country are. suffering, and
much remains to be done to stimulate the vast
undeveloped resources we possess, as well as
to restore those branches of trade which de-
cned during the war or in consequence
Of it. To this end number of prominent
men of all sections, and more particu-
larly Of the South. have been holding
conventions to discuss the various subjects
bearing upon the commercial and material in
terests of the United States. These gentlemen
have, assumed the name of the National
Board of Trade" and under that title assem-
bled at Richmond, Va, on Wednesday last.
From the proceedings which we have pub
lshed it appears that number Of sub
jects relating to trade have been taken
up. Among these were-the uniform mea-
surement Of grain, and in favor of the
Genital system and against the present
ton of tare and short weights was taken up
and a uniform fixed standard recommen
then propositions were submitted relative to
uniformity in executing land conveyances; for
uniform practice in courts with regard to the
collection of debts, and for repeal of all
license laws discriminating against non-resi-
dent traders. These seem to be small subjects
comparatively, but have doubtless an impor-
tant bearing upon trading transactions between
different sections and States. The tendency is
to facilitate intercourse to place the citizens of
every part OF the republic on the same footing
and to make trade, as far as the limits of this
country go, unrestricted, or free to the utmost
extent. So far this is all very well.
But there are broader and wider interests to
be considered, and if this body, which assumes
a national character, would turn its attention
to these there might be some hope of it's use
fulness. General Hiram Walbridge, in his
speech at the opening of the Convention,
seemed to have some idea Of what is needed,
but his remarks were 30 mixed up with party
politics and the old, exploded notions of pro-
lection that we are led to fear the Convention
will do little that is practicable. We fear this
because General Walbridge is one of the lead
general government taking up great schemes
of Improvement and doing other things that
properly belong to the States or individual en-
terprise. To carry out his idea the government
would become vast machine of unlimited
power and corruption. There were important
subjects that he might have touched and which
will soon be pressed upon the government
such, for example, as reviving our
mercantile marine to something like what it
formerly was, by taking of duties that press
upon the shipbuilding interest, and by allow
ing our merchants and capitalists to buy ships
wherever they can be got cheapest and best,
without refusing them national register; such
as placing the telegraph system under the con-
troll of the government, so as to cheaper and
facilitate communication among the people;
such as regulating the railroads of the coun-
try, which involves commerce among tho
several States, by government authority, in
order that the people may not have to pay
enormous fares and freight to pay dividends
on stock watered three or four times over;
such as constructing the Darien Canal, with a
view to enlarge our trade with South America
and the countries across the Pacific and other
.aaA. AL ~ Il