The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-05-07

cost therefore small fractions may produce grea:
effects.
The writer would not have felt IL incumbent upon
him to treat the Southern aspect OF the question
cept Tor the numerous questions appended to tho
plies his recent circular His Southern correspond
cnts may perhaps be led a more thorough oxamina-
tion the necessary conditions for in cotton
spinning. and may perhaps be saved some Of the mis-
haps which apt to occur the starting OF new
tcrprises by who have had experience. With
this paper the series closed II is hoped that
the conclusions which the writer has submitted in re-
gard to the fiscal policy Of the United States Affect
ing this special branch OF industry will fully stted
they do represent the opinions Of majority Of his
associates. though held by an increasing minority.
Tho writer has herein attempted to record the facts
that may form a part OF Centennial record-that
during tho fifteen preceding years industrial revo
luton has occurred tho production OF cotton which,
instead OF destroying 1t. many feared It would, has
left IL firmly established on u righteous foundation
and freed from the faint Of oppression which
made tho sign Of disgrace Tho Increase OF the
crop amid tho turmoil and trbuaton Of tho present
time proves that. underlying all that appears upon
tho surface, economic forces at work which will
control events and peace good will and plenty
all who seek these blessings truth and soberness
NECESSITY SPECIE PAYMENTS.
In tho manufacture of cotton fabrics we have sur
that would have seemed nsurm ountable could
foreseen them; have begun tho new century upon
arm aud solid foundation of hardly earned skill
economy All that noed 10 assure long ora
OF prosperity Is tho restoration OF the currency TO
honest specie standard, the repeal OF navigation
acts and tho reform Of system collecting reve-
nuc. to tho end that may become Tree buyers OF
the goods, wares and merchandise which must I'm.
port II desire TO increase exports. Then We
may find true protection In tho Intelligence Of
people developed by tho common school, fertility
OF our SOIL and in the fitness OF machinery, rather
than III the restrictions OF statutes and tho IN
wisdom OF our legislators
HINTS FOR rME DEPARTMENT. OF AGRIcuLruRx
Tho writer has attempted in these papers colla.e
the facts and statistics In regard 10 branch OF indus
try In which the data to the machine using portion
Of tho world most accurately determined. These
statistics valuable otherwise according to the
use TINT may be made OF them. For any mm cdiate
purpose business transactoh they might easily
prove a and deluson las statistics usually do
In such cascs but as guides toward permanent imam
cal policy they may prove OF greut moment In ono
respect may be hoped that they will scrvc q useful
purpose. Might It not be possible for the Bureau OF
Agriculture 10 be SO organized to become really an
authority the matters oil which trcatsP II place
OF futile attempts 10 predict tho amount OF
tho annual crop OF cotton before II Is gathered
II could organize y department OF infor
nation TO tho SOIL climate and condition OF the
several States earnestly demanding addition nal
laborcrs might OF the idle Of the city DO
enabled TO place themselves under and better
dtionsY The agricultural reports Issued con.
tain few grains OF wheat buried In many bushels OF
chaG Perhaps It Is useless to expect anything else
from governments bureau; yet the grand possibility
for obtaining and diGusng the valuable informa
by right Of tho OF the govcrnncn.
fail to suggest itself TO any who makes
attempt on his own account II the Department OF
Agriculture could be ably and wisely supervised
directed as the the United States was its
value would BIZ almost boundless.
In conclusion may DO safely asserted that the
depression has OF late existed the United States
last 1t is but the result OF misdirected force
and of the disturbance that inevitably comes from
vtiated currency and excessive tariff. Our
gees have been spent IN building railroads, factories
and works and opening minos faster than our
existing population could them. Tho result has
been what IS absurdly called ovcrproductiou.
Abundance never yet did permanent injury to a ma
ton the harm happens whilc the nation Is adjusting
itself the conditions bat whom the adjustment
is completed and the obstacles OF bad currency and
an excessive tariff removed. the very causes OF
our present depression viii become tho potent in
strumcnts Of our future prosperity The rail-
roads will the quick movement OF vast
masses Of merchandise at low COST tho national bank
ing system when brought to a specie standard will
prove instrument OF exchange most nt and safe for
great aud useful purpose. The coal and Mines
opened At the cost OF bankruptcy to many present
owners, will yet furnish power and tools TO gen.
crations such never existed before. When exports
longer madc difficult costly by tho excessive
duties imports, all our mills, works and factories
will be insufficient for tho need OF the world from
whose commerce have been so long shut out. Tho
inventions aud improvements In machinery for ugr-
culture, mechanics and manufacturing will become
forces wborcby higher wages IN their purchasing
power II nomnally lower in ratio. may be
paid for less arduous labor ard shorter hours Of
work than ever before; but greater than all else
the productive forces OF the sunny South, controlled
by sclfgovcrnng and self-respcctng people, will be-
come blessing TO all and a mono, and the
citizen OF tho United States will no longer have
trcmblo Tor the future of his country when
he remembers that God Is Just"
FUTURE PROSPECTS,
May it rot presently appear that tho "hard timcs'
under which VIC now appear 10 suffer much but
certain forces working, first. redistribution OF much
OF the property that has been gained under the abb
normal action OF u vicious currency. Second, nm nd
1usmcnt OF tho rates OF wages tho necessary
dltions OF lower cost OF production q specie basis
Will not tho end low wages OF high pur.
chasing power, IN low prices oil commodities yielding
fair profits, in comfortable subsistence IRON mod
crate gains aud u lower standard OF what will con-
stituto wealth? Such would to be tho necessary
results OF better methods in agriculture, manuiac-
tures mining and transportation coupled with soand
fiscal legislation.
AS in tho cotton mill that we have taken MS an OK
ample It appears that ninety persons, working less
hours and earning moro productive wages, do
tho work that required 23i less than forty years
so viii II be found in tho workshop, IN tho NINE upon
the railroad aud on tho farm
pgEg TRADE ALSO NECESSARY
When tho intelligence applied to our fiscal Iogsla-
ton shall be only equal TO that which has been ap-
Piled to occupations and to industrial invcn-
lions, shall to hcar mon pratc OF ovcr-pro-
ducon there VIII DO fewer homeless families shut