New-York tribune., 1874-12-01

These things never happen 70 the Bank OF Easiano.
laon, never Ieuds as far am aware. to specuia.
tors II reproduces what IL consumes ihey @ uon o
great fortunes bat they don't hrve great crises . q,
Then there Is rhis SAID against me wnch aais om 70
true II Is SAID that this question OF WAat .no ro"n
can afford this question whether we are not overS9n n
sumng. is a hard word it won't be determined py
any technical rule. Perfectly true. genteue.' A =, ~
the less true because you deal with 100000 ot people
that IL is hard to Ind what those 100000 OF people are
to buyi II 1 should attempt TO give you 1act RUE,
/ should consider myself the greatest anaca
alive. Watch the Indications. and II you nhd iatar
great clue the probable course that thlng3 ae
do not drop IT, but ponder it wisely II Is not pos
sble TO estimate how many children VIII oe " % NIL m
America next year, or OF weather yon WI,
have next vear But @ sensible man likes to nave
stand by He says: Let me Just sec how Things r are
likely to WI live within ny meIns anu e''i'
We great crisis in 1s47 what we're tne causes S
cent crop Of cotton in America aud the potato 40. 20
reand and SPECULATION. But We made no ranwaI SI
and none of the banks were prepared for - sna az
snrts of enragements had bee made and the destruc
tou went Everybody found that tDey nhu t 'o bd
cuuntinr upon potatoes were none they had
China bought fewer shirts What does tn't iie's en-
OUT English goods which were not replaced Go1us & 1I
witch causes people to come this Distress
What happened In America Look III Io4S you *
gentlemeni Twenty millions OF gold Twenty millions
OF pebbles would have done inst as wen. dne & tV ~
npovorishing nation than ny buying gold when IL mas
rot enough to do its work Twenty millions OF aoso-
EysrvSodY ia suffering from the effect Of the panic of
last year. and they have talked OF jay toote as be
cnjmnatiug point the first revelation OF great dsas,
Ter or sGr great mischief It not what happened
that dav in Wa-st tnat the fatal disaster IL nad
ali peen done before. People specuiated in railroads,
Mad LUXURIOUS habits spent In all ways freely, ana
disaster came Now I want TO say w0[u nmrl
win respect TO the effect that parer cur
reacy has ; that has also sOlletnl.- ,,ev 20 @
win it, Ina the henning OF the war you wanted money
Z. atty Piece Ot
~ ,piG aye been no further effect. But the banks
made additional ISSUES The people opened ther hahn1s
been 10 buy and destroy. such speculaons as opening
me- " and useless mines and railways we're rle fFo'ec
n3n another ealaIniy to you; TO DAYS work-a
smaller amount Of goods made That Is what Is pIOIec
ton 1t Is every You say II the Jaw uoes % po'
interfere a certain work cannot 20 on. WY Hot , &
cau,e II produces the labor ,cOrt thdh you
Get from countries which make IL nhde e~neaei ~
II tins that sentences the peOp'e % ~ tSe
10 pay 10 the people of SewEnSaud aud 10 pay 20 te
pe6p.e Of Pcnusy lyauia an additional prlce an & auai
ing 1t was by Americans. Nothing eIse'
FREE TRADE FAVORED.
Free trade s always au exchange OF equvalents You
can't buy OF the gncr without the foreigner tahg
An equivalent In exchange. consider Protecuoh ID
America TO equivalent to the Poor Law IN EhEIahu'
This Poor Law in America arbitrary, wilful needless
and vanton IL SAYS to the people OF America make
subscription for the people OF New LnSAnd anu ZOE toe
people OF PennsylyanIa Don suPpo9o H ,n'' ,r. ,r
TO the Bosonian and 10 the Phiadelphian IL Is SUI
scripuOn On tue part OF the people OF Aec' oeclse use
Won have taken into your mead tht IL Is desFaDo
that yoG should labor IN these hrlds Wlen We repealed
the duties six, n was sald tnat the t!ue "ou' ulr
II probably viii not But let 1t die. We shall BUY OF
nrople who can make Il better terms than we,
aud they must bly OF U.s. and there VII WI Dc D..
You say that you Will compel all your
WINE and six and tobacco to ne made mere IL Is
and to produce less. Therefore see that protection
wnen been crisis crippes you IN your power
l.
would be- because you nave 10 pay tue BOstOuah aud
tle PhlladelpAian more for the goods. -.... L.,
Well, there is one thing more whleh mas a great dea
10 Go with your crisis. You nave zone on Ike Wild
gamblers, borrowing borr9wing and paying your m
have loaned To the Germans, you have sud your
bonds and all sorts of things. Mind, loans
aIwa-s come 10 countries not IN money but
ID goods. Always. DO you suppose II the nation
borrows s2OOOOO or 10000 that the foreigner sends
s2OOOOOOO .3OO30OO Of paper notes or sovereigns
What you borrow goods, aud Of course You have a
ye, IL not perceived. All speudthrlits-tnat Is just
what they sufficient tor tuc day Is the evil thereof
Vnn htvc been uylug upon loans ana loans and loans
ot goods 10 til up gap OF your destruction, aud tnen
Xr inarrrs mus, 20 home Taeu, as the paper said
morning people are starving and God Knows what
- fh,re ,uv rcmedyi NY answer is that there
is on before you give plysic let Us know what the
dt,e1,, is Don't listen to the English CHAMBERS OF
Sfnnerce 10 t1ose fine takers IN Parliament. Don't
mink that any questions about blts OF paper Will ever
iced man cJthe nm OF replace the food or clothing
"6ScH ia missing Recognizes that you are short OF
things The question how is that gap to be restored
II must be result OF tme. just the FrencL people
did III this last war The French people st1rye %
meat, their butter, give up Their deleacles
live upon less Tuat Of the great ways aud that
j. the swiftes ana greatest way ana II each man would
do tnat for himself Amerea would come round In very
mid time Another Is frugalIty. Learn save. I
amt want to say hard thing Ii is very natural in
country endowed with pr0iglOus powers IKE TINS that
SUCH tan tans as 'Agng as IN 6esys england has
saving as understood in England aud in
France. is not virtue pracced in America There Is
I.fIn M a
wealth but what mean by saving Is lOr man OF nxeu
income deliberately to say viii i've at lower rate
uncommon here, believe there Is great cumuation
ana fortune making. Dut the man who IS not making
the very last penny OF their income.
need not snow you that II every man wl'praetice
thai virtue Of saving the Of goods saved. leaving
them to cultivate more nelds. leaving them To employ
the aDorers who come 10 your shores That Is saving
Then OF YOUR banks Maze them more after the tune
OF Bank VI England and less AFTER the tune or many
other banks L wish could impose tine responsibility
upon bankers understand these matters To ask them
Oitener after the responsibility VI the men tloy
loan TO- A banker may help, with perfect safety TO
need say abolish incOnyertlble currency, 50
ske It out OF the power OF The people VINO Wish TO
get more through the banks, TO destroy 1t. Any lula
ton cons1er be only destruction VI your capital
to the amount Of the imitation.
Finally let me speak OF the usury laws in this coun-
try. b-ieve you cant put your banking rate beyond
a certain sum. e. In this state" said Mr. Dodge.) /
think a misfortune. In England we have learned
at rate some wisdom and when borrowers begin 10
be too abundant and the OF lending become less,
the natural effect takes place that the thng borrowed
becomes dearer What IL the usury law here lt shall
not be dearer." II Is dearer because the means
OF lending have diminished, which means that
there are fewer goods sold and that the banker has
less lend other people; and II You tell the
You shall not lend at the de"rer rate, you say
he take any steps which shall prevent the de-
struction What is the effect II dearer is allowed,
as in Englandi That many specuations, many sales,
many consumptlons that would on II you on bOr
per cent, or per cent, are instantly pre-
vented II quite clear tbat when the country s Al
ready beginning consume faster than makes, there
must a terrible tendency 10 borrow among those who
suddenly ind themselves short OF the means to 20
Therefore, It Is valuable thing Wal-st. could
TO yOu \ GU have been OVERRIDING IL, you have been
eatlng and drinking too much wasting too much prop
artv make Z diffcult tO 90 on that