Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1819-06-04

! Sapiiii, III - 90 advantage To He country,
a. II is TO the Individual, tlaI snrh capiial
s!'Onld Ice employed III iorelsu isade. even
ai'il"uSi, !, lsscarr'sd on principally, CT
| eniirciS, with tbe precious metals. {, is
as l.. in great Canal, there Slorld be "a
great deal more water III Tie main body
and It's braiicIA's, than is necessary to
! boat all HE vessels which navigate il all
| The waier wheh can be spared fo run in
! Ia e new br;iicl, Is cyitienii, 4 new mode
! 60 increasing HIS communication. and
| conseunrnlly The trade ul the country !.
tni II 50 Duch vbi'cT il drawn OF a. 10
lessen the deptl, cf the main canal. and
| % dry up the smaller old branches, ii is
| PLAN loo much oiihc fluid has been ,l,a g II
| iutO the new branch. Had the commerce
! ln specie, lcen confined 10 men Of actual
| capital. The trade hey The Cane of
| ,1.pd licpe wonld be equal, advam,a
| seous iG ,.,> Fdyrnturers, as lothe pablo.
krCause in sucii use, II womld be ccnfn-
| q wl,iin reasonable G,~pds, but VII N
| caired on viii, borrowed capital. and the
leaders tindiug 4 sudden demand Tor mo
w call or tie borrowers, il becomes
q IN uli ard ot.on impossible. wilhoui
great sacrifices, 10 pay even a part of The
money borrowed he money has been
! converted inlo spe, ie il is either on the
passage cut, or else on HE passage home,
or al bomr, in iIir shape OF nl.rrhau1i,xc
on which Tie difficulty of raising money
is precisely IN the ratlo of the wants Of The
seller.
uuquesiicHahe, siniiFarcn barras nicu,
wonl asd dc, arse 10 ihuse who depend
too much OBJ Bank loans for capital, IN
otuer branches oitradc. bui rs The returns
i'll The hone trade, can be converted INTO
money usually in 3 or months and IN the
EUROPEAN anti West India iTaiie, IN 6 or S
mDDths, (bul in the East India trade moi
uIdcr Il OF u months, ) il is PLAN lie mo-
nev can be much quicker obtained ty
e ducuon ia price of lire former Than iue
iaiier not iGnl II the produce Of Asia is
placed AZ low prices, II y II pot always
command HE money equally, wnh the
produce OF Europe, ur AWrIiea---hut thai
many persons III tkis trade, wanting the
money, lsa,e net He quid pro quo 10
give, I'll they rrceivp their returns, which
MAY he TOO late for them.
Ga this head, il may Be praner here 10
observe, thai. however beneficial 40 the
county, Trade carries on principally,
or exclusively, with specie, may be, IL is
moi oeput III competition with either
The domestic trade, which consists in the
exchange OF TIE produce Of The labor OF
one part OF the country, for The produce
! OF tie labor OF amy foreign country, aud
| ibis, because the interest Of the country
| Is promoted, uoi bv. thr accumulation OF
cspiialor profits, in the bands OF one, or
| a few persons. Int by lie diffusion of
| nani'ai ar points amongst the great mass
| oil the people. An India ship, with her
| outfits and specie ON beard, amounting
! ~ $500 .000, will put III motion a ycry
! much less portion ofii,e active industry
4 III 10 Of,
men. In The former case, few mechan-
les and others are benefited in Inc la;-
| ter great nUmLer of all the mechanics
connected la shipping are benefited. be
sfos1 ihc former, the fisherman, tie Inn
Der caitcr. the coaster, The wharf and
| store owner, HE pilot, and an infinite
| numbpr 81 trades, which furnish them
with Nsrinus articles of cousnmpiion. II
| n, therefore, more beneficial 10 The conn
try, though probably less so 10 few in
dlvidualS, 10 encourage trade wiihIhoSe
countries WHO will buy all our surplus
produce, sor what we want of them, even
al somraifai higher prizes Than The arti-
! eteS wanled can be bought el ewhere.--
} Is tuis sound policy which induced G.
| Bn,alH 10 receive freely The Cutton, To-
| bac' o, &c. Of this country she exchan-
geS the surplus produce of her own labor.
! COHld she, asVrrS probably can he done,
raise all tbe. varieties Of Cotton in her
! different colonies, especially llindostan,
/ II would be for less beneficial fo her than
10 take Cotton OF us. In the former case,
she would havv 10 pay her colonisis in
specie, the production of vhich could
have no ben fIcial effect on tie active
industry OF her people, in the latter case
! shr exchanges eprOduce of their active
tabor Tor tie produce Of the active labor
| OF the people of this country.
The exposure 10 capture in the case of
sudden hosiIltcs. is another serious oh
Jeciion 10 the India Trade. The loss oil
capital ~ such an event, would be very
seriously tell here whereas IN the Euro.
pran and West India Trade, such state
OF affairs would soon bs known. aud
shelter would be sought and found IN
neutral ports.
very serious evil in tie India Trade
is The effect IT produces Of encouraging
the consumption Of Injuries, paid for ia
money aud hence, To the state ofafiairs
which many suppose exists in regard ia
the United States, thai we buy more than
we sell. Luxury is almost AN indehnablt
word, and II Is moi here intended in re.
probate Tie use, by those who can afford
the expense of almost any article. Poll.
ilcally speaking, nothing is d luxury 10 a
man whose expenses do mol exceed his
income: bui If his expenses continually
exec Il his iacOmp, u is certain That III
process OF time ie mast become impov
crushed and IL is c.ually tue OF til,
community as of an Individual
a ri ERClANT.
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