New-York tribune., 1869-06-05
POLITICAL ECON OMY.
BY HORACE GREELEY.
COMMERCE. EXCHANGES.
II.

|
rapid and vast extension of Commerce since
the century distinguished by the invention Of
Printing and the discovery of America; tie
applications of Steam to facilitate and speed
the creation of material wealth through Manu-
factures and its diffusion through Transporta-
tion and Trade; the consequent sudden and
vast increase of whatever ministers to the sus-
tenance, comfort or enjoyment of the human race.
have combined to give to Traffic recent growth
and development for transcending the widest
dreams of antiquity. The Commerce Of Thebes
or of Tyre, of Carthage or of Alexandria in
her palmy days. was trivial in volume when
compared with that whereof London or New
York is now the focus. And the gigantic en-
! terprses now in progress or in contemplation,
whereby this continent, having already been
trayersed by one line of railroad through the
heart of our country, is soon to be belted with
at least two more. paraleled by similar lines
of communication, by rail or by water, across
the isthmus Of Darien, that Of Tehuantepec,
and the intervening plateaus of Nicaragua and
! Costa Rca, with the no longer prOblematical
Ship Canal across the isthmus of Suez, to say
nothing of kindred undertakings in other parts
Of the world, presage a still further and vaster
augmentation Of the volume and momentum
of International, traus-oceanic and trans-cOnti-
mental Commerce. In the conception of IFS
votaries, Traffic is yet in its infancy, and 30
on the verge of development rapid and vast
far beyond even its recent advances.
Very naturally the popular apprehension is
dazzed by the prospect, as it was, two or
three centuries since, by the newly expanded
possibilities of maritime adventure and discoy-
cry. The Imagination of bOyhoOd is intoxi-
Gated by visions of wealth to be suddenly ac-
quired, of ease to be readily secured, through
addiction to some form of Traffic. Our ambi-
! tious, aspiring youth, unless educated Tor pro-
fessiOns, fOrSake, almost en- mdSSe, their rural
homes in quest of mercantile training ana
mercantile career. The ignorant, friendless,
penniless negro, just let loose from hereditary
bondage. drops his detested hoe in the half
titled cotton field, and hies to the nearest city
i'm the sangune hope that he may there
live lazlly and luxuriOusy upon the profits Of
huckstering, Oyster-peddling, rum-sellng, or
some other form of petty traffic, or at least as tho
servitor or menial of one of the more favored
votaries of some lOfter guild OF Commerce.
! The moderate but certain gains of patient,
creative Industry, and especially of rural Indus
try seem petty and despicable when compared
with the great prizes sometimes drawn in the
lottery of Trade. These prizes are paraded,
noted discussed, envied they fill the public
eye and command admiring regard while the
far more numerous blanks are unobseved un-
regarded or soon forgotten OF every huDd-
red who embark in Traffic, it was long since
ascertaned that large majority fail, while
scarcely one in twenty secures and retains
competence; but the one challenges attention
and fixes regard, while the nineteen are quickly
hidden from view by the waters of Oblivion.
! The passion for gambling, in whatever form,
seems as fascinating to the civilized as the
savage breast and no exposure of its perile and
horrors suffces to eradicate or fully master It,
individuals repel or vanquish it; the masses
are ever eager to expose themselves to immo-
lation on its CORY altars.
And, while all Commerce is thus attractive,
that which traverses oceans and interweayes
the transactions of continents naturally prof
fers the largest prizes and the most rcsistleSs
attractions Prices are charged and profits
realized on the products of another continent
which would be preposterous and unattainabe
were producer and consumer acquainted with
and living in proximity to each other The
| greatest fortune ever acquired by an American
| in Europe was mainly realized in few years
| by negotiating in England the bonds Of several
of our railroad companies, and converting the
proceeds into the rails and chairs required in
building or renovating the roads of those
companies The colossal fortune of the Roths-
! chds had q basis not dissimilar to this. Our
most eminent and successful New-Yo mer-
! chant was not in youth trained to Commerce,
| and did not contemplate a mercantile career;
but, after devOting two or three of the later
years of his minority to teaching in this city,
we returned to Europe TO receive the modest
patrimony bequeathed him by the last TO
die of his progentOrs Having obtained
it, and being on the point of embarking to
return to this, the country of his choice, a
friend suggested that he might largely increase
his little fortune by investing it at Belfast in
! fabric of that busy city known as Lace In
sertiOnS and he, though utterly unacquanted
with merchandise, followed the advice; selling
the goods. on his arrival in NewYork, for as
! many dollars as they had cost him shllllngs
| (sterling), and thus probably trebling his pat
| rimony in the course of two or three months
! The revelation thus made to him of what
might be acquired through Commerce changed
and fixed his destiny; and half a century OF
persistent, extensive, and constantly expanding
importation and sale of European fabrics, has
placed him among the foremost in wealth and
! rank of our merchant princes His has been a
! most successful, brilliant, and hOnOred career;
and vet | cannot doubt that he would have
been far more useful to his country ana To
mankind had he consecrated his great aOllles
and tireless, measureless energy to the natu-
ralization on our own soil of the useful arts
| with