Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1829-06-23
DOMESTIC.


BosroN, June Cit was with regret that we
recently observed notice Of the intended dfscon-
tinuance Of the Free Trade Advocate, a pubiica-
ton which has done more, considering the brief
period OF IFS existence, in disseminating correct
principles in political economy, than perhaps any
other in the country. We regret il the more be-
cause il has furnished theme for i'll ed com
ment TO some Of the " purchased sycophants of
the American System;" the tools Of the American
authors Of the Liverpool Pamphlet-We have CO.
pied from this valuable work the following short
but interesting article, and have now on hand sew
eral extracts, which shall hereafter take occa-
sion 10 offer 10 readers. Com Gag
Prospects Of the Manufacturing Interest.
| The present period is one of great stagnation
and embarrassment, not only in many parts of our
those two countries, the manufacturing population
is in the greatest distress, owing either TO dimin-
ished demand for, or an excessive supply OF cot
ton, woollen and silk manufactures. In the Unit
| ed States. our cotton and woollen manufacturers
have experienced great reduction in the pri-
ces OF their fabrics, that many Of them have been
ruined, whilst indications exist in various quar-
| tiers sufficient to show, that more money is lost
than is gained by those two branches Of trade
And yet, although 1t is now manifest TO some of
the most intelligent ofthese sufferers that these low
prices have resulted from the excess of domestic
competition invited by high duties aided by foreign
| competition smuggng,& by diminish d dem and
arising from the sumption spirit ofthe south,
their bosoms as il were the charter Of ther safety
| when it is in reality scorpion destroying them
with its stings.
We are not very sure, that a revolution in
public sentiment may not, some of these days,
take place, which will terminate in the ruin of
| the whole body of the cotton and woollen manu-
| facturers. Much time cannot elapse, before that
branch of industry called smuggling, and which
is now as highly protected by high duties as the
manufacturing interes, itself, will have become
go well matured on our sea coast, and Can
ada and north eastern borders, that British goods
will be brought into the market at prices so far
below The prices at which they can be lawfully
imported, that an adherence to the tariff may be
thought by the great body of consumers, a most
| beneficial measure. For our own parts, we are
entirely convinced, that tariff of moderate du-
ties is better calculated 10 promote the interests of
the very manufacturers themselves, than one of
exhorbitant rates, like the present; and had they
been content with the scale of 1916, we should
have seen comparatively very little distress
amongst them, and the nation would have saved at
least fifty millions Of dollars which have been sunk
in manufacturing speculations.
In New England, where the manufacturing
mania had the widest range, vast number Of
| companies were Incorporated for manufacturing
purposes. These institutions have no doubt been
instrumental in sinking capital faster than it would
have been annihilated by individuals, but they
have answered good purpose, and have per-
haps rescued from similar humiliation, other
sums which might have been embarked in manu-
features, had not timely warning been afforded by
the market price OF their stocks. The following ex-
tract from letter addressed TO US by intelligent
and highly respectable correspondent al Boston,
under date OF May 3, will be read with interest,
& cannot fail to excite even with the biterest foes
TO the restrictive system, sentiments of regret, at
the destruction of capital, which the nation has
sustained by the folly OF our law makers.
Extract.
&c Here the evils of the forcing system, have
fallen most heavily on the manufacturers, by slim
uIating undue portion of capital, and inducing
an over supply OF goods, many OF them made by
uDskilful men, who require not only the home
market, but double prices to save them.
" Ii is true that there is not concern in New
England of any magnitude, that will sell at par,
and that the average of cotton factory stock is
not worth 90 cents for 100. The Dover
[S2, 100000 capital] sold yesterday for Sls6
for $1,000 paid -(60O,OOO) has sunk 10 no.
thing. The Taunton, (say $1,000, 000) nomnally
so cents. Nashua, GO cents for 100, SC. These
The Waltham s. Lowell, and a few others, are the
only ones doing saving business, and their pro-
pretors are among the few ,cho reuer haze called
for any increase Of duties since 1916.
"The woollen men in still worse state; say,
SINK to an average of 80 40 cents. This city
may be considered as ten millions Of dollars poor
en- than it would have been, had no alteration
been made in the act Of 1916; perhaps may say,
fUenty- millions. The distress and disrust among
the manufacturing class is extreme, and they
most opposed TO their conduct and principles. -
Some rs or 100 wealthy men ruined or, in
danger, and thousands Of less note. In the inte-
rior and here, the failures have been numerous
and still more are looked for: IL is this result, that
will dispel the delusion which has prevailed In
this quarter; but the mania still exists in the mid
die states, and only be cured by passing .hro'
the process have done. New England has
lost thirty millions at least, but we have great
deal Of experience and skill, and shall no doubt
succeed in manufacturing, but should have
done much better without any stimulating act be-
You'd that Of 1876"
Fren, he f,t No oftas Virginia Literary Museum eel
JEFFERSONIANA
The kindness Of Thomas Jefferson Randolph
Esa.--the grandson Of the Patriot and PHILOSOPHER.
whose actions occupy so large a space 10 the histo-
ry Of his country's gory,-wili enable US to lay
before our readers, under this head, several ex-
tracts from the Common Place Books Of that illus
rious individual, which are not destined to meet
the public eve in any other form. They will be
additional evidences Of the indefstigable industry,
In the prose cuton OF knowledge, which so pre- en-
nently distinguished him through the whole
course OF bis long and useful life
No. 1.-IIUME's PoLIrIcAL PRrNcrPLEs.
The following are specimens OF Hume's po-
litical principles:
" shall only ask, whether il be not sufficient
y clear, from all these transactions ITO wit, temp.
Elizabeth that in the two succeeding reisDs ITO
wit Of James and Charles,l il was the people who
encroached upon the sovereign not the sovereign,
who attempted as is represented, 10 usurp upon
the people" Note "A. TO chap. AZ Z" The grev-
ances, under which the English laboured ITO wit
whipping, pilIorying, cropping, iDprisonipg, I'm
ing, ac.J when considered in themselves, without
regard 10 the constitution, scarcely deserve the
names, nor were they either burheDsoms on the
peoples properties. or any wise shocking TO the