,s,on tlo Ns,e yoyk r,reaing post.

THE MEN THAT HAVE HAD LOSSES.
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whose losses are enormous, and who are opulent vet Mr Webster, In hls famous speech at Valley Forge, speaking of the New England manufacturers, says

 .sTbere never was a traffic carried on Tn a country. more advantageous, from It's magnl- tule and its character, than the interchange of products between New England and the other states. We are large consumers. We pav cash fora all we buy, and in good money while we sell on credit, and have lost by bad debts south of the Hudson, within twenty years more wealth than some of the cotton states, who call Us poor, are now PeSsessea of.n

 In other words, the Lowell mills have lost enough within the last twenty years, by bad debts al the south, to buy all South Carolina, plantations, negroes, and cotton crops to- gether. But prodigious as these losses have been. the Lowell mills have contrived, within those twenty years. to divide, on an average, according 10 the statement lately given by Mr. Carey, the treasurer of one of= them, yearly profit of nearly ten dollars on every hundred of their capital, What immense resources must these people have Ill the busl- ness they follow, and how perfectly sale Is the business Of manufacturing, even under mere revenue tariff, when 1t can sustain such mighty losses, while the country Is passing through the yieissitudes of high and low tariffs alternately, and yet prosper in this manner! It is very possible that there may be some exaggeraiion in the terms used by Mr. Web ster, but every body who remembers any thing of the years of bankruptcy and failure which followed the year 1886, knows that the New England manufacturers lost vast amounts, both al the south and the north, by selling on credit to men who afterwards failed to pay.

 The time for making bad debts is now over If the mill owners sell on credit to the south, they sell with great cireumspection, and only to those who are very certain to paw With the advantage of this caution, and the still greater advantage of the high duties imposed i'll 1912, we are not surprised at the vast profits they are now making; we are only surprised that they 6o not appear even greater in the published statements.- Enormous as they are we can only account for their not being still larger by the innocent arts which incorporated companies know so well how b practice, in order to keep down dividend which threatens to be so large as to siartle or offend public opinon-we allude to the eXpedients of giving good salaries, liberal commissions, settling by handsome reserves, expending money in elegant repairs, and connections alterations.

 There Is another class to whom Mr Web ster refers in his speech at Valley Forge the less favored class who have little or noth- ing to lose These, Mir Webster supposes to be as much benefited by the tariff as those opulent mill owners, who can so easily afford 10 lose enough to buy all South Carolina. He says:

 < N or Is there man so Iowa man con- demned to toll and drudgery--as not to have an interest ill the principles which the whigs avow-those principles which elevate him in society, which shall fill his mouth with bread, his home with happiness, his heart with gladness.n

 We have had whig principles carried very fully into effect by the tariff of 1912. One of the very class to which Mir, Webster alludes, the '.men condemned to toll and drudgery,n sent last week to a whg daily paper-the Tribune, of N. Y. city--a communication which was published in that paper, and in which he describes his own condition and that of others who follow his occupation, in the following words:

 You make mention of the many build ings now being erected in New ! orl, and the consequent employment of many hands, but l feel assured you are not aware of the low prices by which the mechanic earns a scanty pittance. He gives all his powers to rear your splendid buildings, while he and his family are breathing the poisonous atmosphere of small room, containing fewer square feet than the entrance hall of your modern palaces l am one of many who are employed in man. ulacturing doors, sash frames, Sc, realsing from S3 to S4 weekly; deduct from this sum the landlords rent-amounting in many cases to l3S cents per week-and the sum left is small indeed for the wear and tear of tools, and the support of a family. Yet ths state of things is all but general among the house carpenters, especially ia the winter, and will be happy to learn if the carpenters trade is the only one reduced to such extremities. have been in this city for six years, and | am convinced that the condition of the mechanics Is fast retrogading, and in some cases already below the level of the London mechanic. am ready to give proof of what have stated"

 The writer of the communication from which we quote-one of that class < whose mouths are filled with bread, and whose homes with happiness,n by the measures of the whig party, speaks of the small allowance which is left him for the wear and tear of tools.- Yet this poor mans tools are taxed by our very beneficial tariff, taxed at the rate of thirty per cent. on their original cost, and some of them more. He buys nothing which can be used in his trade, without paying dispro- portionate tribute either to the government or to the manufacturer.

 Meantime the class who can afford the great losses spoken of by Mir. Webster, are more tenderly dealt with. We heard the other day of sugar-refner who imported the whole apparatus of his refinery, his boil CTS and other utensils. from abroad Instead of employing lte American mechanic. which the doctrine of iayoring American industry should have let him to do, he gave lis money to foreign wofhmea When fhe annorafffs