Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1823-07-11

w Tor t1XafiOD consists IN
the return 10 the Industrious classes of society
Of a part of that capital, in wages and profits,
which is Withdrawn from il by government in
the firm Ofiaxes. This is some Offset TO the
evil of deprying industry and capital Of their
reproductive powers.
Now, if we can imagine large sums collect
ed in taxes and employed to nourish foreign
Industry, we may conceive the extent of the
evil although not thu full exieni) arising from
collecting a part ofihe public revenue in the
South and expendng il in the North. We
have employed the expression foreign in con-
tradsilnction tn domestic but the effect of this
expenditure is the same on South Carolina
as If the sum raised in duties in Charleston
were spent in Russia, instead Of the Northern
States. We receive no equivalent-no COM
pensation for the removal and loss of our ac-
tive mOnied capital.
But the evil comes to us in an aggravated
form, when the whole or part of the duties
IS transmitted in specie. lie we trade with
our neighbour, and he, at the close of the
years transactions between us, exhibits ba-
lance for which the settlement must be ma de,
in cash, we are prepared for this result We
IN all probability. have balance i'm our favor
To receive from another quarter. There is
a current setting IN 10 supply the void made
ny that goinS out. We could not, however,
continue this intercourse If the tax-gatherer
called and took from us annually such por-
tion oi our cash as we found absolutely nrces-
sary to effect our customary exchanges and
adjust our balances. Now the case is a paral-
lei one that is presented by the commercial
situation of the North and South, and the rela-
i;"n OF the Southern cities to the government.
THESE CITIES are Obliged TO settle at frequent
periods balance in cash with the Northern
States Tor supplies in the materials of clothing
anu IN articles ei subsistence. This must keep
us perpetually in debt, ard as we receive from
other sources the balances hi money that are
due 70 us, tbs debt is in itself no evil for if
we d'd not find IT more To our profit to con-
Vert our provisions and pasture grounds into
cotton and rice fields. and perceive that agri-
cultural yielded more than manufacturing
capital, we should speedily cease to import
part ot our provisions, and materials for coarse
clothing, from the North. We in this State
must derive profit therefore from THE very
nature al this intercourse. We exchange a
! part OF our surplusage of produce for the
! surpIusasr, in cash, of Other countries, and
Ipay IN this mode for that excess of imports
from The North that is not balanced by our
exports. The proof that this trade is one nf
mutual advantage, is that we have not aban-
doned it.
But II the drain of our specie by the Urea
sury continues, iu addition 10 that which is
natural IN commerce, we mus. soon cease to
import beyond what our customers require
and wish of those articles natural and peculiar
TO our soil. Our supplies ofspece will lie in
adequate 10 pay beth for the excess of our
imports and {" supply the treasury demands.
They viii he absorbed in one direction, and
continue the exchange so permanently high
against the Southern cities, as to constitute an
alarming deduction from the profits of COM
merce.. Were il possible to pay the duties In
htRd, TINS, by leaving is still in pOssessjon of
our spccie-captal, would make comrar;i-
lively light burthen. But The withdrawing Of
large sum in cash from circulation, and,
what IS worse, from the vaults of our banks,
leaves ouI circulating medium TO fluctuations
! In value, subjects our property to alternate
rise and depression, vitiates our contracts, and
rlnnges our merchants in disappointment and
distress, If NOT irretrit,able ruin.
Southern Pat.