Alexandria gazette & daily advertiser. [volume] (Alexandria [Va.]) 1817-1822, 1819-02-05

From The Albany Daily .iapertsser.
| have frequently beard these questions
asked "Why dollars never return TO this
country from China :" and ''Wbat becomes
OF the immense sums sent to that distant
region" myself have often thought on
this subject and since the scarcity of spe-
Gle is so severely felt in this country, that
it is in contemplation 10 prohibit its expor-
tatioh. il has brought TO my recollection a
conversation | had some years since with
an intelligent merchant, who had been at
Canton, and who was then concerned in
the India and China tyade.
asked him, what became of the dollars
which were daily shipped off from all parts
of Europe and America to China, and why
none Of them ever returned ?-To the for
mer part of the question he said he could
give no satisfactory answer-but to the lat
ter he had no hesitation. We could as well
he said, bring back ship loads Of dollars
from China, as to take them thither. That
whatever of merchandise or produce we
sent to the Chinese market, would be PAID
for there as readily in dollars as in the
productions of their country. But it was
no object, he added, TO bring dollars from
China to either Europe Or America. Such
a measure would be ruinous SPECULATION
1t would be bringing return cargo
which would give no profit or benefit to
the merchant Of shipper. 1t would be
nearly the loss of the whole voyage. 1t
would be bringing home an article Of much
less value here than in tlIa. far distant coun-
try from which it came. That this was
the only reason Why dollars were not im-
ported from China, instead Of their teas,
their silks, and their spices. That these
latter articles often afforded large profit,
and if dollars would but once do the same
you would hear no more OF their shipment
to China. think here is rational solu-
ton for the scarcity OF spece-IVe do not
stamp on il sufficient yaluc--it is to cheap
All article of commerce in the markets both
of Europe and America-Lct its value be
cnhanced-Let something more be re-
CURED in exchange for ii. and my word
for it you viii hear no more of the scarcity
of specie.
hope, sir, none of your readers will ca
vii at my calling specie all article of COM
mercc II is as much so as tea or coffee,
wheat or barley, broadcloth or cassimcres
or any other manufacture or production
whatever; and IN my humble opinion
ought to be considered in all commercial
countries, and 10 rise and fall in the market
in the same manner. Why is the man
with thousand dollars in specie in his
chest, and the farmer with thousand dol
lars worth of wheat in his granary, not pla-
ced in the same situation But we find
tic latter at the end OF 3 TO months, often
receiving 900 dolls. for his wheat, while
the former has nothing but bis one thousand.
Now, ask, why this difference ? Reason,
humanity, and common sense, would seem
to say, that bread corn should not rise in
yaue-it should always remain stationary,
and at the same price-it should not be
permitted to Ructuate-itis the staff of life
the gilt of Heaven to man, and neither
TIC poor nor the rich can sustain human life
without it. But money is very different
thing-its whole use is TO enable the mer-
chant TO exchange his commodities with
more ease and facility than he could DO
without its aid-and can see no reason
why gold and silver should not be allow
ed to be bariered as any other article.
| verify believe, sir, much OF the evil now
complained of on account of the scarcity Of
specie, would be remedied by such mea-
sure and as an incipient step, and with
out adding further at this time. permit Inc
to recommend TO our state legislatures to
repeal aitonr laos ON The subject Of usury.
A TRADER.
ALEXANDRIA,: