Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1819-06-01


political economy has been among the
causes ot our present difficulties. This
remark was made more than ordinarily
| apparent from reading an advertisement
IN Tie Geo. Town paper OF the cargo of
, New York sloop. viz. Rum, cider,
vinegar, butter, oais, potatoes, brooms,
&c. &C." Every article of which ought
| and could be manufactured or raised in
our own nr!ghborkood in abundance.
win the exception Of The rum, and that
might be dispensed with. A farmer can
MOI now calculate on more than one dollar
" bushei, for his wieat: Is bushels tn the
| acre rs cool average crop. This i'm the
course of trade will he exchange ed for
abou, 20 bushels New England potatoes.
An acre of ground well cultivated will
produce 200 bushels of potatoes. This is
The way TO see what our wheat and flour
produce US we pa; for" broomS g. onions,
&c. &c. i'm the same ratio. Our climate
and soil Is better calculated for the pro-
| duciion OF these articles, than thai of
those from whom we purchase. lfa far
mer cannot live aud sell his wheat at one
dollar, he could afford To send potatoes
TO Boston and sell a, 25 cents the bushel.
- GHerald.
CUSTOM HOUSE BONDS.
| BALTIMORE, May 20 1t is very gen
L
| of the United States al ihis moment, and
IN this city in partic sar, that The princi-
| pal cause, of distress al present, is the
heavy sum which has been daily required
by the regular importers, TO pay duties on
goods, Will u IN many cases are LAYING on
hand, unsuitable from the scarcit, of mo-
ney aud siagnatiOn of business. To meet
| these bonds as long as il could be done,
| the merchant has resorted TO The private
banks for discount and the payment
(beIDg made In fact by those to the office
of the Bank Of the U. S. has caused con
staui return on them for specie. THIS, at
length has obliged the private banks.
| whose affairs are otherwise IN an eligible
situation, 10 look to their own safety, and
gradually to curail those facilities, until
they have entirely ceased. The treasury
must soon feel the consequences. and
meet with delays and ultimate losses:
| whereas, II apioper view were presented
| TO The head of that department, before
The evil Is too deep rooted for remedy,
the public would feel more confidence in
| each other, as well as i'm the banks. Let
The treasury view the subject as il ought
| as II will flnd It's interest in the prompt
| relief which is In lis power TO Afford
Time only now is wanting TO put things
IN proper train. The merchants who
would ask indulgence now, of few
| months, III the payments of their bonds,
can give ample security for the time they
"iSh, on The very goods for which the
bonds were given. The time approaches
when the consumers of these goods will
give in exchange for them the produce of
the soil, at prices which viii allow the ek
PORTER 10 renew his business, nv underset
Ang foreigners in their own ,narkets. Flour
Is now down TO S 5, and other articles
| must be IN proportion. While we are thus
converting the labor of The country into
produce, and that again into active funds.
the necessity for new importa,ioms c.as
es; because enough goods are already in
he country for a supply. Activity %lH
be produced al home. and with il general
lie and circulation, in spite of some un-
fortunate failures, which result less, per
maps, from their own faults than the error |
OF banks-because The latter have given |
he bulk of their means 10 fep, instead |
OF regarding their own independence and |
the DEMENT'S of dlfusing the use of them. |
by general division of discounts. Much |
ofthese funds will, however, soon come
again INTO circulation, by The changes
thai over trading and false principles of
banking have produced. Specie will be |
brought back from foreign countries by
Inc exporting merchant, the moment he
can buy produce al IFS proper rate at
home, and have opportunity 10 uudersell
foreigners IN their own markets. While,
instead OF the temptation to export specie
tor benefit, il will be suspended by the
iow price OF our ownpr0duce, and the lux
ury which gives encouragement 10 our
India trade will be curtailed, because our
people will buy only what they rant, and
learn from necessity the secret of all wealth,
VIZ to erpend less than then earn.
But coming back to the point. Let the |
indulgence proposed by the treasury TO
the merchants, in the payment Of their |
bonds, be pressed; let The merchants, as
have before said, have time TO dispose OF |
the goods already imported then will |
cease The principal cause of uneasness at
present. The private banks will be re-
lieved from tie exhausiing calls oil them |
ior specie To pay The treasury they will |
have II IN their power 10 avert much evil |
that is threatened. 1t cannot be believed |
that the distinguished gentleman now AT |
The head of the treasury, will oppose a
TAR investigation, or graut relief if il is |
properly sought. He must know that the
bonds begin now 10 lay over, and are in
c''edS'ng eUery hour. Will he be better
BILE to meet his project Of paying four
millions OF coin TO the foreign creditor in
O''OO'' W pCIStVtIiib IU lUe present 4
system ! undertake boldly TO predict
that he will not +: and If he should ever
hnd the means, through the bank of the
UHiied States, that he will regret il when
too late. Specie payments must cease
when extremity obliges il. We shall then
begin 10 talk Of preventing its export. But
TO use vulgar phrase the stable will
he locked when the horse has escaped"
Then we may regret in vain, that we have