The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-01-01

The French have q proverb that cit Is be
unexpected that always happens" and nothing
could be we'll more idle and Impairment than
an offer to entertain the public with predic-
tons of what will take place during the new
year. We leave that sort of prophecy to the
sanguine party journals which never hesitate
to assure their readers of respondent political
victories. Yet it is impossible for the alta RS
Of the year to 60 on without some foresight,
or attempts to exercise foresight, on the part
of business men. who must pay the penalty of
mistakes in ugly entries in their ledgers under
the head of profit and loss. This necessity Of
trying to estimate the future by business men
and projectors of great enterprises may, per-
haps, justify us in suggesting such consider
ations as we think worth weighing by the
community at the entrance of new year.
We will begin by calling attention to
topic which is peculiarly appropriate to an
anniversary occasion and fitted to awaken the
kind of sentiment in which anniversary Gel
ebrations have their root During the year
on which we now enter active preparations
will be made for the great Centennial EXPOSE
ton at Philadelphia in 1875, and its success
and fclot depend on what is done during the
present year. We confidently predict that it
will answer the expectations of its most san
guine friends, and we think it public duty
to express this opinion for their encourage
ment. In venturing on such prediction we
must vindicate our credit for good sense by
declaring that our judgment does not rest on
fho N,cb nd hrD no xrhi oh fb,,c for
been the staple of appeal in favor of the Cen
tennial Exposition. The proposed Centennial
can be distinguished success only as an
international exhibition, and nothing could
be more supremely foolish than to expect that
foreigners Can be attracted hither to glorify
our democratic institutions and admire the
flight OF the American eagle. Foreigners care
nothing tor this shallow, frothy stuff The
grounds on which we predict the success Of
the Centennial Exposition are the evident in
terests of those European nations whose pros
perity depends on their foreign trade. The
United States are the most extensive market
of every such nation, and all foreign producers
of goods Tor expectation have a deeper interest
in the American market than in any other.
Thus is the motive which will make the Cen
tennial great success. There is no country
in which worlds fair OF international ex-
position has yet been held which at all COM
pares with the United States as market for
the productions Of foreign industry. The
trade statistics of England, to be sure, exhibit
far heavier importations than ours; but
her imports consist, to a great extent,
of raw materials for her manufactures, which
are re-exported after being wrought up, and
not SO largely as ours of articles for domestic
consumption. As the United States are the
most extensive and valuable of all markets for
the exporting nations they have deep inter-
est In studying it with view to regulate their
industries, and the Centennial Exposition will
afford them great opportunity. The full ex-
hibition of every variety OF American pro-
ducts will enable them to estimate both the
tastes OF our people and the progress of the
industrial arts in this country and to judge
between the products in which we are likely
to supply ourselves and those for which We
shall ior some years depend on foreign
sources This kind of information will be
invaluable to foreigners who seek to turn our
market TO the best advantage. The Centen-
NAL Exposition will also give them an oppor-
tunity to introduce to the attention of the
American public all the new foreign products
for which they seek to create or extend market
The last OF these great expositions, that at
Vienna, was OF trivial Importance as compared
to that which we are preparing, if judged by
the relative value of the Austrian and Ameri-
can markets to the exporting industry Of the
world. We trust we preserve our character
for sense and sobriety in predicting great
success for the Centennial Exposition, and
encouraging the preparations which will be
one of the chief topics OF popular interest in
this country during the year 1875.
of considerable revival of business pros
perity during the year seems to us to rest on
grounds equally solid. We, of course, ex-
pect nothing from the measures Of Congress-
Whether the Senate Finance bill passes or
fails in the House is of no consequence with
reference to the business of the year. 1t
cannot have any effect on business calcula-
tons, because, for this year at least, it will
be practically imperative. Even if, under
its free banking feature, there should be
an increase of the bank note circu-
lation, there would be corresponding
withdrawal of greenbacks, and the volume OF
the currency and the condition of the money
market would remain substantially IN
changed But the free banking clause is
quite certain to be dead letter during the
present year. By the existing law there is an
unused permission to increase the bank circu-
laton by several millions, and the experience
of the year just closed shows greater dis
position in the national banks to retire part
of their notes than on the part of projectors to
establish new banks. The same causes will
o~orota d,r;p5, 1Q7S ord II will be forpd Of