Virginia Argus. [volume] (Richmond, Va.) 1796-1816, 1808-04-19

But at period when Spain is at Deace
from what source are we TO draw dollars ,
We sail not then be admitted into her CO.
Il0nies. We must resort to Amsterdam.
London, Leghorn, or Lisbcn, to ob,ais
them And can we aford the charges, that
viii accrue in consequence thereof, and
carry on AN advantageous trade: Dollars
are freighted from Europe at one and an
half per cent. the insurance amounts TO
TWO per cent and the loss of interest is at
least two per cent. more which, altoge-
iher, would amount to a new charge upon
the trade of FIVE and an half per cent t.
TO this we may add the very great uncer.
tainty of the supply of silver arriving at the
proper time for the India trade Ships i'm
that trade, ought always to depart from our
ports between the first of February and the
first of May. Under such circumstances
the u. States would be drained of specie
Every dollar in silver would be exported
from the country, and g most deplorable
lnundation OF paper currency would spread
itself throughout the union, creating great
dissatisfaction among the people, and tend
| ing essentially to lessen that conf lence
in the transactions of all classes of our own
citizens, so indispensably necessary to a
vigorous prosecution of internal trade and
| improvements
The third article, in truth, trammels the
trathc with such unprecedented difficulties,
| it is very questionable whether it would be
thought worth the pursuit and AZ any rate.
1t 1t were pursued under all the embarra
ments thrown in its way, it would be with
ianguor before unknown to the American
Character 1t may, indeed, be considered
problematical, whether the goods might
not be purchased cheaper at the India
conpany's sales i'll London, than in the East
Indies, loaded as the trade is under the Sd
article of Monroe's treaty, with such new
charges and difficulties, which appear to
surround and hem it in on every side.
| The East India article in Jays treaty has e
yer been considered by intelligent men, as ex.
tremely Injurious to our navigation and com.
merce. But the third article in the new treaty
| IS past all endurance. 1t adds most astonish.
ingly TO the injury; and the mere admission
and introduction on the part of col Monroe OF
such an article will l very much apprehend
be attended with the most pernicious effects
Ii will give the scent to the British and the,
may hereafter dc induced occasionally to effeci
The same thing by custom house regulations
But 1t would be preferable to risk that. thar
by concurrlng IN such an article, rivet upon
ourselves by treaty an evil of the greatest
magnitude 70 our trade. 1t is no vague sua-
IgesuoE 20 suppose that the operations of tho
new third article would reduce the navigation
Engaged in the India trade from the u State,
| o at ieastone halt the present number of tons
The American trade to British India unde,
jays treaty, welded no extraordinary profit
1t mas ahorGed, on an average calculation. MOI
Exceeding fifteen per cent annual interest will
the advantage which we enjoyed of being. a
tPeace, whilst all the world besides was in
lvolved in war.
! IL IS very certain that the British nation arr
under as much obligation to US, for our com
merce, AS the United States are to them FL,
permission TO trade to India permission
which they granted without restriction to Oh,
Portuguese and Danes. 1t is difficult, from
the wanl of sufficient data, to ascertain tn,
number of dollars annually imported into Ind;,
/ by American vessels. The amount imnor,el
into China in the years 1905, 1904, and 1905
amounted to four millions eight hundred an,
4 thirty seven thous and three hundred and !
IS presumable that the importation into Ind;,
| was nearly, II not quite, as great If such b,
the TACT, are we to suppose that the British
I will depart from their interest so far az to ex
clude a trade which produces to them such
vast amount OF specie, and the deprivation o
the supply of which would resent Great d;f
hculty to themselves in finding dollars where
with TO pay off their troops
i There are substantial reasons for belief tba
the British would, w.thot writ en- contrac
| W VIZ eHcct, suHer us to carry on the trade.
atieast in the degree we have enioyed it undo
jays treaty. l think l can perceive, in all III,
| hegocIat ons and diplomatic arrangements he
tween the U States and C Britain. that nh,
latter has invariably acted on the priucipIe q
conceding nothing of consequence TO us b,
compact which she can control in practice
1t Is her desire at all times TO hold the maste,
| springs OF commerce in her own hands so tia
I she may brace or relax them AT pleasure II
many cases she will where there exists no nro
vision by treaty or the subject, and It is he,
interest to do so, display az extraordinary IL
berality. But attempt 10 bring her TO the test
| make but an effort to bind her up to the CONT
ugd observance Of tina, liberal spirit, and she
refuses. She will negotiate on the tonic. +
| - true but she will not agree to any writer
'npulation except it still leaves to herself the
whole latitude of restriction or relaxation.
Hence, in question of traffic, it is sometimes
better, IN treating with her, to submit To the
| iisk OF prohbitOry custom house regulations.
than to adopt an article which positively ex.
cludes advantages that may. without the exist.
ence OF that article, be enjoyed.
Between the Danish ports Of SaIempore and
IIanquebaF, and those of Calcutta & Madrass
tree commerce is enjoyed. The two formc
might and would become places of deposit for
us, where free trade would he afforded TO o,,r
ships, and goods be furnished to our merchants
IN terms infinitely more advantageous than
they could be procured under the stipulation,
Of the third article.
IL would have been much more accent.
able to commercial men, had our India