The enquirer. [volume] (Richmond, Va.) 1804-1815, 1808-07-01
THE ENQUIRER.
RICHMOND, JULY /, 1903.
EMBARGO-OR-WAK.
NO VT

Having attempted to shew, that the es,-
barge was far preferable to submission it
remains for us to compare it with the other
great alternative, Which was submitted to
.,r choice.--7Hat alternative is s.AR.
On thispar Of the, subject, we propose to
adopt some of the ideas of writer in the
National Intclligcncer who. has. addressed u
series of essays to the people Of the United
States on the advantages of the embargo.
This part of the disquisition has been pub
lished, since we proposed an investigation
of this subject. This disquisition presents
as with several useful ideas, which we should
really be compelled merely to repeat, if I'VE
were TO treat this subject in our own style:
Such ideas as we consider valuable, that do
net occur in the following extract, We shall
subsequently develope.
Having attempted to shew the probability
Of our being engaged in war with both France
and EDglapd, it we entered into war n
gainst either, the writer proceeds,- -
The necessary effect would be total des-
truction of our neutrality and trade. In adj
dition to the inhibition to export our commo-
dites would be superadded an inhibition tc
impoit those OF toreigh nations. There would
not be port in the world open to US, and
ours wond be shut, so far as we could shut
them. against hostile world. There would,
however, be this unfortunate difference be.
tweenus. While we were destitute Of means
OF, forcing trade with them, they Would
have the means Of attacking our rich dSpots,
anS. no doubt, would doit, and of Committing
consequent spoliations to an unlimited a.
mount, to supply their own pressing wants.
In this respect, war would be a ron,hlete
embargo; it would be practical applicant
on of the principle of the present Embargo
to much greater extent Ali the arguments
therefore, brought against the latter, would
apply with increased strength against the for
mer.
Our only resort #ohld be to ptivateering
Let us examine It's effects. The tonnage Of
the shipping of the United States may be
taken at one and half millions, and may
be valued In It's present state at fifty MILL
ons Of dollars. Surprising. that we should
take as many vessels as are taken from us,
abe maintainance ofour full establishment of
tonnage would be requisite to furnish us with
our present supplies. Let us, also, admit
that our merchantmen would do for priva-
teers- This is giving this species Of opera
tions the greatest possible advantage. The
expence incurred from aiming them, would,
on a very moderate estimate equal the first
cost. Their annual maintenance would cost,
at least, three times that incurred in times
of peace, owing TO the augmented number of
seamen and military stores. This would
come TO about fifty millions of dollars a year
The effect, consequently. of the conversion
OF our merchant vessels into rrivateers,
would be an augmentation in the capital re-
CURED of fifty millions. & in the annual ex-
penditure of fifty millions more.
The whole of this expence would be incur
red, ;iot So much for the purpose of forcing
the expectation of our own products as for
that ofcaptsiring the commodities of the bel
ligerent nations. Of these last, we consume
at present, but about fifty millions; suppo-
sing then, that we should take to this amouht,
we should have to pay for it the value of the
annual maintenance of our shipping, with
the interest on the capital, amounting at six
per cent to six millions, and making atose-
Their fifty six MILLIONS of dollars.-The game
would, of course, be losing one.
This calculation is on the ground that
while we took the VESSELS of our enemies,
they would not take any Of OURS But as there
rs every probability that they would capture
a full moiety of the whole taken, this loss
would be to be superadded.
Should it so happen that a foreign market
would be opened for the disposition of our
produce, the following would be the result,
on the favorable supposition that our chan
ces OF capture on the ocean were great 70
those OF our eXcmes:
:. l. The absorption of new capital Of fifty mil
ANohS Oh collars.
2. The Increasing annual expenditure of fifty
millions
8. The interest chargeable, on the old and ne W
capital, amounting to six MILLIONS.
1t would fellow that our trade would be ex-
posed TO an ADDITIONAL annual burtlen Of IF
fy six millions of dollars.
But under such accumulated burthers, il
would be impossible TO carry on our trade
without utter ruin. 1t is obvious that most
of our articles of export would not sell
in the foreign markets at price much adj
vanccd beyond that at which they ordinari-
ly stand; and that very Considerable rise in
their prices would, either altogether prevent
their sale, or considerably abridge it by di-
minishing the consumption. While, there
fore, we got but small advance for our pro-
.duce, the foreign articles imported would
be chargeable with the remaining expences
as our trade. The difference between the
enhanced price of our exports, and of foreign
imports would constitute balance against
us, which amounted to at least one half the
encreased expence, would operate as an an
nuai drain OF twenty eight millions of dollars
Such a trade could not be carried on with
out ruin ard it is therefore, bit fair to in
Ter, that it could not pet eventually be carri-
ed on at all !; aud that, consequently, OH,
merchants, after tire loss of incalculable
wealth, would IMPOSE upon themselves vo-
iuntary embargo.