Year: 1878

' dent of the St. Louis Republican says that within tie last week over one million of dollars in specie has ar rived at New York from Europe to pay for wheat and other produce that is being shipped abroad; and it is expected that as much more will arrive during the present week.

 These are cheering sighs. They show that the balance of foreign trade is gradually growing stronger and stronger in our favor; and that If this happy condition of affairs continues to exist, we must eventual ly absorb the larger portion of the worlds money and become the welth fest and most populous nation in the world.

 Heretofore foreign nations have been paying us for our produce in Government bonds and their own fabrics, and gradually absorbing ali out coin but now we are beginning to turn tables on them. They have got rid of all their U. 5. Government bonds, or, prefer them to gold which they send over in tnelr stead. Not only this, but our people have learned to grow more frugal and economical in their habits, and don't import so much of European fabrics as former. ly. In addition to this, our agricul tural products and domestic fabrics have been increasing, and we are now actually sending to Europe many of the fabrics we have hereto fore, from time immortal, been ac- customed to get from that country. The gratifying result of all these causes has, as we have said before, begun to shift the balance of trade in our favor.

 It is not difficult to predict the happy effects that will flow from this improved condition of our trade and commerce. Gold will soon become so plentiful as to lose much of the sanctity with which it is now rever- eneed by the Shylocks, and it will begin to circulate more freely among the people. In exact proportion t" the degree with which gold ceases to be reverenced will regard for the U. $. Treasury notes be increased and sought after; and it would not at any time be surprising to see greenbaoks the deride, ''rag::baby," rise to pre- mium above gold; and, whenever that becomes the case, the question of resumption will cease to Dc an is sue-it will have completly wrought out it's own accomplisnmet without the aid of any act of Congress, but but rather in spite of all the resump- ton laws which have been hInderan- ces to that end.-Gazette.

 "Better times Is what we need and want in the South. If any of our readers can draw any solace from the above we will be glad of it. For our part we see no chance Tor the South to experience "better times" until we change our method of getting along. Money may be- come as plentiful as leaves on the trees and foreign gold may flow into our country as freely as you please, but in the South we will feel but little benefit from it so long as We try to kill ourselves in the endeavor to overstock the world with cotton. The balance of foreign trade may be made to appear so largely in our favor that everybody will cry out that the balances are not correct, but still if We keep on in our suicidal course of almost exclusive cotton growing we will feel no relief in the South. All that will save us is to change our tactics and produce something, the production of which will not cost more than we can get for it.

 It is all very fine to talk about the balance of trade being in favor of our country and about European gold flowing into our ports, but we had better not depend on thls to save us of the South from bankrupt cy unless we exercise a little more common sense and policy in shaping our agriculture so that we may be benefited by this foreign trade.