Literary cadet and Rhode-Island statesman. [volume] (Providence, R.I.) 1827-1829, 1828-05-17

ion OF the tonnage to I0,OUO would nave gwen lneH
a great relief An interest cannot be called pros
per0us however extensive or important, when tho
rate ofprofts which it yields is below the average
rate of profits, in other branches Of business. Al
unprosperous business be rendered prosperous by
the withdrawal from it OF capital, and the invesimcr
Of that capital IN other concerns for competition
and it's consequent reduct ion of profits arc thus
avoided or removed. We cannot doubt that much
shipping has, at all times, been kept aflr0t by our
merchants as profitable to themselves or the
town Ship building, and equipment. too, can he done
in other places cheaper than they can be done
in Providence. Wearc. therefore, exposed to the
continual rivalship Of the ship-buildeis of Maine
and Connecticut. These cnte5prising and saving
advcniurers have, will be shewn, IN the sta,isti
cal statements herewith furnished, obtained an inn
portan share in the carrying trade, 10 and from the
place al d although the tonnage OF the town rs n
little less than it was, during one two Of the
years when shipping was redundant and Improbable
through the whole country, it cannot be doubt ed
that the present tonnage pays greater rate OF
profit to its owners and contributes, more efficiently
and certainly, to the business Of the town, than did
the tonnage of 1922.
The whole value of shipping business depends,
like that OF any other branch Of mercantile concerns
on the Frequency and the amount ofhe exchanges
,phich Il effects. A brig of 20 tons, which dehv-
ers six cargoes in Philadelphia and six in Provi-
dcnce, in year, is worth more. on fair averagc,to
the business of the ewn, than a ship of 800 toas
which delivers one cargo in Canton and one here,
in the same time; and It is generally the case, that
the regular packets between this town and the
southern cities deliver at each voyage, n greater
value, in proportion to their tonnage, than do the
ships from Canton, home. Now the Letter makes
no account ofths. to us, invaluable coastng trade
passing it over as n small matter, Of no possible
porance II is more rcaSon,b'c to calculate the
amount Of shipping business DONE than the amount
Of our tonnage; ior efficient business is the object
Now we have unimpcachab evidence, that the ar
rivals and departures ofvessc at and from the place,
have greatly increased In the year 1878, when the
town began first, TO feel the effect Of The cotton Ia
riff OF 1876 the arrivals were, of vessels from foreign
ports 70-ofvcsscls coasiwse. lSl3--'ota lSS3 The
last year US2O the foreign arrivals were SO, the ar
rivals, coastwise, 3iS2-toiai 3j6S. In 1922, when
our tonnage, imports and foreign arrivals exceed
ed those Of any other year since the there were.
il rightly recolect. two three cargocs delivered
from Canton and British India. Thee has been
more nuctua,ion in foreign arrivals than in the
arrivals, coastwisc. The Hum5cr Of the former, in
1916 was 81, and in 1917, 81. Between 1920 to
1923 the coastwsc arrivals increased from 1889 to
2692, being ii6 year. The increase, during 1873,
was only 90. During 1924, SO. The cotton bnb-
bic of 1925 diminished them 10. In lS26, they in-
creased 2ij, and, in 1927, 27l Total iDcr1ase, in
ten years, 1863, nin"ty-wo Ger ccntuu'. The ac-
tual increase Of foreign arrivals, during the same
time lG, being nearly twenty three per ceafum.
Again: The yearly average o! forcisl arrivals, for
six years, inclu ling 1916 an 1921, was sirty-fsree
and The yearly average from iS22 to 1877, inclusive,
was eighty; making an average Increase "t twenty
seven per ceat,tn, during the last SIX years. The
yearly average nf coaswise arrivals, for the years
1873, 1919, 1920, ISL aud ls22 was tco MJus-
and and niapfy-eiSM; aud tho yearly average Tor
the years lS23, 1924, 1925, 1926 aud lS2I, was
three Thousand one hunired and ten; being an in
crease, in five years, of more tran tDrfy nSht per
cenf'm. 1t is perfectly fair to concn!", i'on these
facts that the shipping business OF l.sc town is Npr
deprcsscd and tht hai tho average profits realized,
fallen below the fair Of profits other branches
of trade, the amoun, done would have been diminish
ed. Had our means of buying aud paying Tor arti-
ces OF foreign growth or m nuacture been dninisA-
ed bv the Cotton tariff Of 1916, foreign arrivals
must have been dim uishel. "a pro"orton. Had the
cotton business b;an an uap, o!ilab!c cpnccrn, we
could not ave ncrcasa our pIrcIrses otrlw cotton,
pllr and corn ; and the colSting vessels OF other
States would not have ben employed iii irci 5hng
those commodities to This market.
am not disposed, aay more than tho authors # he
Letter, to undcrvaluc the NolasS"s tr de. lam
vnccd that, in proportion to the amoun; of capital
employed, it gives bread toa greater number of per-
sons than does any Other branch OF our uricn COM
mcrcc During the scycn years, beginning with lS2l
and ending with 1927, the drcc, mpor, of this arti
Gle was i,ilS,S09 gallons, computed to be worth
1876, ,G36 dollars, Of 'ich 3,ISJ,Ci2 gallons, worth
$50 ,9S9 dollars, came from the Island OF Cuba. The
average yearly import, during the first four years Of
this period valued Al 925j-, and the average Of
the last three Ter e operation of the tariff II
1924, 40 S97 year beng an increase Off 2i9
dollars for each ofhc'c years, or fifty PEI cenium
the import OF the first four years.
No one could reflect, without serious concern. on
the probability of loss or material dtninu.ion Of
that trade is there, think, any well grounded
cause for apprehension this subject. Under the
operation Of the cotton tariffs of 1916 and 1924 the
importation of the article has continued to increase,
and the that increase may be, fairly, atrbn-
ted to the increased wants Of or popn! ron, aud
their increased ability pay. |, is now, by far, the
cheapest form in which the juice Of the sngar-cane
comes to the consumer, and must continue so, even
unGcT an additional duty Of five cents the gallon
max ing the whole duty one cent n pound which is
less than half the duty. paid on an equivalent o.
dry sugar. The LETTER, boxing to the business,
merely, of the iowa, glclty ovcr-ratcs the inpor-
lance to it, of the exports whiyh 90 to pay Cor thus
and other Wes India produce. beef pork. lard,
cheese, butter vegetables, boards, stlvcs hoops Sc.
are enumerated as tho principal means ofpaymen.
Which of these, il We except vegetables (poiltocs,
onions and apples, chcly) prodnccl in the town,
or in its immciiltc vicinity DO we not import,
from the middle States aud Massachusetts, beef,
pork, lard, butter and choose to an immense amount!
The fact is, that every thing of this kinl pro iuced
amouI Us, is consumed as soon as produced, by
population, employed in other callings 'hln that 90
raising food. We receive some hoops from Con-
necticut and Massachusetts, aud boards and
slaves are imported. Supposing the duty to operate
gradual exclusion oC ircgn mulsscs; the article
must. nevertheless, be procured. Oar present moas-
Scs-dealerS will send hclr vessels to the Mississippi
Tor IL; AMI they will then pay, whol'y, IN our own
produe, ions-cottoas, sltncts and Vegetables. But
] have no expectation thu this total exclusion OF
W. !. moassgs can take place ior several ycars-it
certainly. canno be ore the sugar cultivation on the
Mississippi shall have been greatly cxtcnlcl That
it will uhimaieiy take place. have no doubt
(NorE 81 This paragraph contains an nrcu-
tnent. which we little expected to see grayoly put
fo,v,rI. n this d,v and ago 81 the world. Tnerc -,
however Que phrase the predicate, which II would
be as well to consider. before we cone to the main
subsequently put by way OF interrnca-
tories. We are told by implication, indeed, that It
i, "n,cnled finally to prohibit inp'r,ltions OF we
ao o;yon 4, understand that such will be the result