Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1820-01-22

ia
themselves have been overwhelmed on tue
multiplicity Ut these institutions, aud ditu-
sion OF the IndiScriu,,nate loans OF which thev
nave been The sources. IL has been made
question, whether Odnks when restricted TO
spheres IN winch temporary loans oml, a,e
maue To persons ia active business rroiuosiny
quick returns, do not as muCa harm to inpru
dent, as good TO prudent borrowers. But II
can no longer bea doubt with amy, that loan
Offices Carrying 10 every mans door, and even
c0urtng hls acceptance OF, the monied means
OF gratifying hIs present wishes. under Il
prospect or hope OF procrastinated repay
meniS, must, OF all devices, he the most fatal
To general frusality and Tie benefits result
ing fromit.
The effect of domestic manufactures I'm
diminishing imports, and as tar as thew are
carried on by hands attracted trsm abroad,
or by hands otherwise idle, or less productive.
~ employed, without a proportional diin;nu.
Ton OF exports, merits, certainly diStiu-
suished attention in MAJ king out an internal
system oi political economy, AND in counter
IN ting tendency IN our foreign commerce 10
ave balance against us. The relief from
TINS source would be more eiiecthal, but tor
cHcumstance that the articles which copIri-
oute much to excess OF our Imports over our
exports, are articles, some not likel> soon
Others perhaps AT all, TO be produced within
ourselves There is moreover a feature i'm the
hade between this country aud most others
winch promotes not a little an unfavorable
result. Our exports being chiefly articles of
food Tor manufactures, or for a Consumption
easily surChaiged, the amount of them called
for, never exceeds what may be deemed real
ana definite wants This is mol the case with
| our imports. alany OF them, some the most
| costly, are objects neither OF necesslty nor
nudity but merely OF fancy or fashion wants
! o. nature altogether indefinite. THIS relative
conui'ion OF the trading parties, althous h il
may give to the one furnishing the necessary
anu profitable articles, powerful advantage
| over the one making its return in sup- rtiuitlts
Of extraordinary occasions OF an uminterrupt
| eu mi rcOnse Yet III the ordinary and free
course of commerce the advantage lies or the
othei side aud II will he the greater ~ pro-
| parton To the heightened credits on which the
| articles gratifying eXtravagant propensitics
| are supplied. Such an inequality, must. i'm a
| CERTAIN degree, control itself. liz would be
| cemiltieiy redressed ny change in the pub
he preferences, and habits such as is inculcated
| IN the address
In notrecaTdlng domestic manufactures. as
OF themselves an adj. quate cure for all our en-
| Dar' easements, II Is by means intended TO
| utuact from Jhst tdcir Importance, or from the
! policy OF legislative protection for them
| however true II be IN general that the in
| duNtrious pursuits ofindiyiduals ought TO be
| ieeniaie" ny 'heir own sagacity and interest,
| there are pIac zeal exceptions 10 the theory
| which suf1icieRily speak for themselves The
| theory Itself, Indeed, requires similarity of
| circumstances, an equal freedom of inter
| c"ause among connercia nations which have
f, never yet existed All ar agreed also that
tnere are certain articles so indispensibIe that
| no pro'ldent nation would depeud for a sun
| ply OF them, OIL any other nation But besides
| tnese, there may he many valuable branches
| of manufactures, which AZ once established
| would support themselves and even add In
| Tue isl OF exported commodities; hut which
| without public patronage wuuid either not be
| mhutrlaken, OF come TO a premature downfall
| Tue difficulty o mtrnducin MAMMA iur = es.
| pe'ltiE oi complicated ciiaractt + ana costly
| ohlht anh al We all. ~ d ma. krt pre.occuuied
| " po"eI"i rivals must readily be conceived
| i"eA appear accordingly To have required for
theIr introduction mo the countries where
| iheS are now seen III THEN greatest extent
and prosperity. either the liberal support of
me government, or the aid OF exied or emf
grant manufacturers, or both OF these adv
| idses.
In dc erm'nIng The degree announcement
| winch can he dtOrie, 10 domestic matutac-
| lures IL h evid"hI that among otber couside-
fd''ohS,d lair comparison ought to he made
o. Nhat might be saved By supplies at home,
"UfihS foreign wars, TO say nothing of onr
own. win the eXpe nse of supporting manufac
! tories III times OF peace, az aust FOREIGN cotu-
peuilons Ia Qua market The price of dome stIc
idOiIrS, thou d"n'er than foreign, in times
o. peace, might ne so much cheaper i'm times
OF Wal, as 10 he cheaper also han the medium
piicr OF the foreign, taking the two periods
together. Yet the american manufacturer n
protected duIus tue period of peace would
necessary De u deriiiined 10y the foreign =
anu j" could not be expected 10 resume his
| u d'tiaNinG, df the return of war -kuowiup
| the uncertainty OF IT'S duration, and foresee-
"'S hi' certain ruin AT the end of il. Estimates
o" the~e points cannot be made with mnch
precision but they are not on that account
10 he overlooked and in making them a
strong leaning ou2hl to he INDUCED towards
Tue poiiCS OF securing to The nation iudepeu-
deni resources within itself
1T have extended these remarks beyond
The proper Inn Is. | mus find my apology in
lie nature of the snbIect, aud IN the tenor of
your letter; ior which pray you TO accept
my acknowledgements, with nv respects and
good wishes.
JAMES MADISON.
CLARKsoN CRoLIUs, Esq.
Department of State