Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1829-07-27

y.,u ithstau,I,ng our distance from Europe
....h Ia The difference in the natural prices !
tabor and raw produce IN The i"o cenh't'fs
,ha, Ne have carried On a profitable 'iaae WIN
,he maritime nations ol that conineu', ps seh-
ing Them tobacco, -four, and OF late YEARS cor
ten, and receiving from them, espe' aifv ''ea'
Brian, the products oil their looms, 'h.i' Po''
lerles furnaces and workshops
The dis anee however, ~ increasing Inc ek-
p.nse of transportation. has always mHoe
advantageous 10 us 10 supply ourselves WIN
man. articles of manufacture, such a. hats,
shoes coarse clothing household furniture, hna
every species OF farming utensils
Pr, iii. trade once so beneficial 10 botn
,o,o,,ies has long ceased 10 yield ITS former
pra6is. aud il remains TO he seen how the
change has affected the price Of iabonr ~ TINS
country We viii notice our cHiei articles al
txport in succession.
Our breadstnns, OF which we have great,
and increasing surplus, have sometimes hsen
rreftable articles Of export, aud sometimes MOI.
In most parts Of Europe. the prices OF wheat,
eycept in times uf scarcity. are not Such rs 70
defrav the cost OF transportation. TO tns'ah"
however, owing 10 the higher prices oil us raw
produce uhc effect OF its great wealih Hnh
dense populaiion) the export was commonly
profitable unier the disadvantage OF hehEy
duty. But after the peace OF 1870, the land
owners of that country, who have great intn.
rnce in IT'S councils, have procured the eTel"t
clnsion OF foieien grain from their ports, Tor
tie sake Of raising The ptice Of corn a.fhome
Thus deprived of what was formerly Inc
most extensive market for one of our chief
articles Of export. and finding no uew vents,
except. to n small extent. in Spanish America,
its price las fallen in proportion, aud wilhn
has declined the value Of the land and labour IN
the large district, in which wheat is cultivated
Ihi. policy Of Greet Britain, IN relation TO
grain, has indeed been lately modified So as 10
substitute a heay, duty for prohibition but
the duty being SO regulated MS Ia increase as
the market price Of corn diminishes, II viii IN
o. dinpry years. be sufficient to put stop 20
tic trade, and of course pl oduee the effect OF a
prohibition
Although the importation OF tobacco has
been forbidden altogether, by no European
nation, it IS every where subjected TO heavy
duties aud other restrictions by which its con-
sumption is greatly diminished Thus Grea,
B,ifiin imposes du,v on IL of about sixty sis
ronts a pound the effect Of which Is 10 lessen
the consumption. probably. one half and
France limi's the quantity that may be impor-
Ted To smaller proportion Of wllatl,er people
would purchase aud pay heavy duty Tor, II
the sent restriction were removed
The article Of cotton has indeed beeu free
from all restraint aud Encouragement whatev.
er in Europe. III consequence OF iis furnishing
beyond my other commodity, the materials
ef profitable employment 10 the mannfactur.
ing class hat other circumstances have con.
Cured 10 increase the quantity brought into
n,aikei still faster than the demand, increasing
ms that also has heen. and To produce the same
depression of price that has taken place IN our
other staples. First. Its culture has been sub
stiiutrd IN some parts OF the country for thar
Of wheat aud tobacco, when the latter had cra.
sed he profitable. THIS change has taken plas.
30 q great pYteni IN the southern and eastern
paris OF Virginia NJ well as in North Carolina
and Tennessee. Probably more than fifty thou.
sand bales IN u vear now find thrr frs M kcf
in Richmond and Petersburg, where, until lac
~. there was not single bale. Secondly. II.
culture has also increased in OTHER countries,
as in Brazil aud Egypt Thirdly Bu, princi
paly. by reason OF the great emigralions which
have taken place from other parts ofihc Union
10 the cotton growing states Of Alabama, Mis-
sisippi and Louisiana. In consequence ofthis
Increased cultivation oil cotton IN the United
States. tho quantity which, from 1902 TO 1905
averaged one hundred and fourteen thous md
bales year, from 1929 TO 1927 averaged fouf
hundred aud THIRTY seven thousand bales |
having thus almost qnadrupled in twenty-five
years. The excess would probably have been |
much greater II the quantity consumed IN the
unred States aud exported 10 France and o.
ihcr counirias had mt lncr, ased, IN the samp
period. in much greater proportion. BY he
unIted operation oi these uHoward circumstan.
cos the cultivation Of cotton has. Tor several
years past been not more profitable Inn that
Of wheat md tobacco. nor indeed could il ever
Ia AT bp ,,h
which our citlgens migrate TO new elm trs aud
ia from one employment 10 another, proyi. |
Died only II be agricultural.
The causes thai have been here assigned for |
the low prices which ouf staple products have
recently borne, originating principally in the
mistaken policy Of foreign nations some pcr. |
sons may indulge the hope TINT they will be
that they will either yield 10 ne
go'ialion, or 10 sounder views of polIical g. |
But besides that such eYpe Citations
are unwarranted by all ras experience, there |
is cooperating cause which must not be over
looked, aud which is equally beyond the reach |
OF foreign and domestic policy I mean the
greater rate At which our raw products Increase
beyond the European demand, arising from
our more rapil increase of numbers Whist |
nur population doubtless in less than twenty
FIVE years, that of western Europe scarcely |
iuction and consumption OF each nation 10 be- |
IN proportion to It's numbers. the supply of our
products is always increasing faster than the |
'oreign demand for them. Our growing de |
nand for their manufactures would also tend |
o increase still faster than the supply. if il |
we're not Tor the improvements which machin.
Try has hitherto been continually receiving.
this progressive amelioraiion ceases
" much abates, we shall, ms long rs we remain
Ia agricultural people, be constrained to enter
he market. both as buyers and sellers, under
'iill increasing Disadvantages. Our capacities
or production are augmented, by the mere
Increase Of population, supposing no aids 10
'e derived from improvements ia husbandry.
n new facilities Of transportation, is about
hrty three per cent in ten years. With thuse
Iids II is perhaps, fifty per cent.
This very active, and general cause of an
supply, concurring with the restric
i've policy OF foreign nations in lessening ,he
emand, has occas,oned a redundancy in all
ur agricultural products and. conse quently a
enpral depression OF prices by Whirh the ,ro |