Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1828-07-04


the commencement.
But, Norfolk and Richmond are not the real
markets for Agricultural products; the whole Civil
lized World is the market. The two places just
mentioned are nothing more than entrepots; the
temporary resting places OF the produce in its long
journey 10 its final destination As confirmation
of this, let us col 10 the average value of the
nuol exports from Virginia. from 1902 TO 1872:
St,l0l 1928, is the amount OF value OF domestic
produce annually exported during that period
There Can be no doubt but that almost the whole
OF this consisted in Agric uurai products. The
period above mentioned was most favourable one,
and therefore the average value Of exports may be
too great for the present time; let MS suppose the
present exports not TO exceed the hall OF the owe
mentioned sum. say they are S2,000,o00. Now,
it is most evident, that if these 2.O0O,O00 were
kept III the State, while the productive powers
OF the State remained the same, and were exerted
In the same direction and could not by any means
IND vent TO the great market oil the World, Ag-
iicultural products would most suddenly and ruin
ously decline III price; and that too without the ali
OF Canal, or Internal improvement.
Now, let us proceed to inquire into the nature
OF the market for raw produce, and see whether II
Is likely 10 be materially affected by the increased
'upply occsioned by tie opening of new districts
OF country.
In Countries far advanced III wealth and pcpu-
ation, the produce of the earth will generally be
relatively OF greater value than in countries not 20
advanced; for, in the old country, the increasing
which can only be procured by cultivating the
poorer soils, or by improvement OF those already
IN cultivation. This increased difficulty of procur
ing the increased supply OF food, will make all the
produce ofthe earth relatively high in such coun
try. In new country. OH the contrary, there will
be plenty Of fertile land, and sparse population;
the consequence will be, that only the more fer
tile soils will be taken into cultivation and produce
will be relatively cheap.
Now, from this it would seem, If tolerablc free
dom OF trade were allowed the old country shout
furnish market for the Agricultural products of the
overwhelmingly, the experience OF the World
has corresponded TO the theory; audit has been uni
versay found ,thatin Colonies all the abour and ca
p,tal oil the country have been devoted to Agricui
ture; the old countries furnishing the market, and
they i'll their turn purchasing manufactures of the
old.
This having settled the general principle, let
US ask where is the real market for Virginia pro-
duce!
We answer, Ist All those parts of the U. S. in
which those products, connot be raised as cheaply
in Virginia.
I'd. All those parts OF the Civilized World where
they are dear 10 pay FOR their transportation
from the u. States.
The first will comp. ehend all that portion of the
u. States which has advanced beyond Virginia i'll
population and the accumulation Of capital, such
as cur North Eastern States. Tie second will com
prehend almost all the Civilized World besides;
and II IS this latter Branch of the market which
SuateS iHe price vi grain anu toOaCCO, even Ill IL
GINA.
Let US now pause and ask what sensible effect
can possibly be produced upon this extended mar
ket, by the operation OF the Internal improvements
OF Virginia: As well might you suppose that the
subsistence and rise of the james river would oc-
casion an ehbing aud flowing i'll that boundless eX-
tent OF water in which il finally loses itself, as to
suppose that the augmented produce which III
time may be made to float down that noble river,
can exert auy sensible influence on the great mar
ket OF the Civilized World. We must never, then,
look to slight and accidental for the perma-
nent rise or fall in price of the products of the
earth. When we turn our attention to this subject,
we must search out such as influence whole
empires; causes, which operate at the same time
on the banks Of the Danube, OF the Seine and the
| Thames; on the banks of the Hudson, the Missis-
sippi and James rivers. Ii is thus that those great
convulsionS in Europe, which have shaken whole
empires; which have called from the peacefu full pur-
suits OF Agriculture TO the field of battle thousands
OF laborers; have operated, SO long they exist
the contrary, when the peaceful state again arrives
and all return once more to state of tranquility
prices will again fall, not to rise permanently, ex-
cept II ON the operation of similar causes or from
the increase Of wealth and population Throughout
the World. The effect produced by the latter clause
Is always slow and gradual.
See DR.. Seyberts Statistics, p. IS.
tor full calculation Of this subject, see Ricar-
dos R0i:ticG! Economy, chapters Rent and
Profits.
10 be CO1tinuedI