Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1816-04-10

do oil u. Britain, 81 ,366,SA 223,09i
do. of France, 6,576.36s 2,I5l.2sg
do OF Spain, 5,Os7, 325 1,14S,63s
do of Portugal, 2,ll9.2O2 16I ,S9o
AL other, 3,S4O,3iO I.f4S.5 $40
S45,e74,4o3 SO 5s3,S5o
have the honor to be, very respectfully, sir,
your most obedient servant, A.. j. DALLAS.
The hon. the speaker efhe house OF representatives
This statement is taken from the Gus
tom House books-now, these shewi the
price of the articles, as they were entered
(and most of them very low ;)-but, not as
they were sold in the foreign Market
For instance take the following small
shipment of tobacco
hhdi S mSSss sSa qs9'sd including ISL 40
makes nett after deducting charges,3
L5l2 10 sterling--
which So les per cent exchange makes S 2,e77 25
Leaves nett 81, s25 IS
Suppose, the above TO be an actual ship
ment and sale. The Tobacco would not be
very we'll sold; vast quantities have been
sold much higher. Cotton has yielded to
exporters better profits than Tobacco.
The rates of the Custom House, there
fore, are short of the sale of our products
in the foreign market. Yet, even making
the necessary allowance for this variation,
there is still a considerable balance against
US. Bills OF Exchange are at least 10 per
cent advance and may be higher. THIS
is an unfortunate condition of trade; be-
cuse, it makes itmore difficult for us to im-
port specie.
The man who purchases bill to draw
specie from London, must in the very
first step he takes, give at least ten per
cent. advance on the specie.
Public Stock will be shipped to pay up
a portion of this balance-Stock at present
is low in Great-Britain but, IN the opin-
ion of some intelligent merchants, it would
take considerable rise. il the government
would so arrange through the National
Bank as to have the interest discharged
in Europe. They add, that after this ar
rangement, the Bank might ship its stock,
and convert it into specie on favorable
terms. We were no friends to the Bank,
because we think it contrary to the con-
stitution, and because this does not appear
to be favorable period for its establish
ment I; however properly such power
ought to have been given, and however
wisely it might have been exercised at a
more favorable moment yet, as it is
now established, we are ANXIOUS that it
should have a fair operation.
We are sure, that relief is not to
spring up from enchantment. So much
capital withdrawn from employment, will
only add to the embarrassment. So much
specie Withdrawn from circulation, will on
ly make it more difficult for the State
Banks to supply their vaults.--We are as
sured, that IT must be considerable time,
if ever, before the National Bank will be
competent to give us any sensible relief
from the embarrassment which presses up
OH our capital and our circulation. But, the
experiment, as it will be made, ought to
have every advantage. The suggestion,
which has been thrown cut, seems to US
calculated to have this effect; and we wish,
therefore, it may catch the attention of the
Government, as we'll as OF the Bank.
tt is whispered that the Federal Party
at Washington are determined to start a
candidate for the Presidency. Since Mr..
Crawford has repulsed their advances,
their attention is said to have been turned
towards Mr.. King, OF Gen. Pinkney of S.
s. THIS is not very astonishing, as the very
profession Of these gentlemen is oEhosift-
on.
Some credits due them for their perse-
verence--it is reallya pity, that it is not ex-
erted in better cause. They persevered
in their opposition to a war, which was cali
led for by our rights and our honor until
the triumph Of our arms and the treaty Of
Client had defeated their expectations.
Again, they arc placed on a forlorn
hope. They oppose the election Of Mr..
Monroe, at moment when their party is
dwindIng away; when Vermont has sha-
ken them off. when New Hampshire is
converted and Massachusetts herself is
Isl rsturuiny tn the rOlitics Of our f4tLerx