The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-02-03
Our General and Local Prospscts
for the Current Year.

|
ington, by which the public faith and the
national credit are so seriously threatened,
will succeed in fastening the Bland bill on
the country in it's present form. The bill
will no doubt pass the Senate by large
majority, but as President Hayes is not
likely to stultify himselfby signing it its
return to Congress may be as safely counted
on as it's passage. 1t must be a very excep-
tional case, indeed, in which veto does not
| carry away from bill some of its original
| supporters. A certain number will always
be found willing, from courtesy or friend
| ship, to hold with the Executive. Very
few bills pass without some uncertain votes;
votes, that is to say, cast for it reluctantly,
| or at least without entire confidence in its
wisdom and expediency. This is especially
the case with the Bland bill; measure sup
ported by many who, while fully aware
of its iniquity, are induced by political
considerations to give it their votes 1t
is only reasonable to suppose that some
of these will gladly avail themselves Of the
Executive veto to change their position,
while satisfying their conscience, and
the two-thirds margin is SO close that
single vote one way or the other may be
decisive of the final fate of the measure.
Certainly no vote cast against the passage
of the bill will fail to sustain the veto;
hence any change that may take place must
be from the other side. We therefore re-
gard the prospect Of the ultimate defeat of
the Bland bill in it's present shape as by no
means discouraging But it is satisfactory
to know that there are unmistakable evil
dences of returning business prosperity
throughout the country despite the efforts
of the Congressional lunatics to excite
tional credit
We have better prospect before us to-
day, as q nation, than we have had for very
many years. sOur domestic troubles are
settled and the Southern States are at last
free from political strife and at liberty
to reconstruct their shattered bust
ness interests. The disturbances in
Europe cannot f il to inure to our
benefit. If war is to continue the United
States must needs be the great supply depot
of Europe, not for grain alone, but for most
of the necessaries of life and of war. If
peace should be proclaimed tomorrow it is
| very certain that it can only be peace in
which nations watching each other with
jealousy and suspicion, will sleep upon
| their swords. In either case the demand
| for breadstuffs and other stores from this
side of the Atlantic will continue, and the
balance of trade will be in our favor A
general war would in addition build up our
shipping interests, compel a change of our
existing laws and make New York in great
degree the harbor for the commerce of the
world. A peace that would leave England
angry, dissatisfied and watchful of the
future; that would raise apprehension and
mistrust in Austria's breast; that would
sharpen Germany's appetite for Holland
and infame the ambition of Russia would
mean the maintenance of large stand
ing armies in Europe and the hus-
banding of extraordinary supplies Pro-
ducers in either event would remain
unproductive consumers. If hostilities be-
tween Russia and Turkey should cease on
the instant it would be\necessary to keep
q vast army of occupation in the field pend
ing the payment of the war indemnity, so
that under any circumstances Europe must
look mainly to the United States for sup
plies for year or two to come. It is
no longer problematical whether America
would or would not be benefited by gen.
eral European war. For the last five or six
weeks, under the effect of the war fever the
shipments of wheat and other produce from
this port have been unprecedentedly large,
and the fact that despite this unusual drain
age the quantity still in store in New York
is considerably in excess OF the past four
years average at the same season, satisfac-
torily proves that when an active foreign
demand for our breadstuffs prevails no
rival routes and no cutting of rates can
divert any important portion of the great
body of Western produce from our city.
Looking West we find the evidence of our
ability to supply the continued demand for
shipment without cramping our own market.
The receipts of wheat at Chicago during last
month aggregated two and a quarter million
bushels, against little less than six hun
dred thousand bushels in January of last
wear and one million bushels in January,
1876. At Milwaukee last months receipts
were two million bushels, nearly double
those of the same month in either of the
three preceding years. Although the trunk
lines of railroad are crowded with such
freight the great granaries of the West
seem to be inexhaustible.
New York must always reap the main BEN
eft of an active foreign demand for Ameri-
can supplies because the foreign market con-
centrates here. Our railroads in the winter
and our splendid canal transportation during
the season of navigation give us superior
internal carrying facilities to those of any
other Atlantic port and foreign trade