Daily Richmond Whig. [volume] (Richmond, Va.) 1828-1831, 1829-08-03
From he Pirg6iia Literary Museum
THE POLICY OF ENCOURAGING NAME.
EACTIIRES

ca question; ana when the passions which now min
gle IN the discussion having subsidized we shall endea
To shcw how far we think that both parties bnve
pushed their arguments too tai and how far we coin
eide with either. Atpresent we shall coniinc our
selves to the inquiry whether is practicable
anu wise to promote manufactures in Virginia.
The mind of the writer of the following remarks
mas undergone change within year two, US to
the capacity of this State for mcuuia curing estaJ-
hshments In considering the general stagnatiOn of
taue, the depression ot prices which staple
moditIes had experienced Tor some years amI the
consequent distress felt by the great body of the
community, he thought lac perceived n remedy for
ou' loss oil foreign markets, and the redundancy of
our agricultural products in tile diversion OF part
al our capital and industry nto the new chlnuel OF
manufactures. Nor was he Singular in that chupwc
OF opinion, was proved by the ncy spupcrs those
'dthiul mirrors OF public sentiment, winch have
appeared from time To time several sensible ESSAYS
inviting attention To the subject
Within the last twelyemonth however, a favorable
change has taken place in the prices both Of wheat IL
tobacco our planters and farmers have received say
l, and ia some instances liberal prices for their pro-
ducr and the subject oil manufaci has lost much
oil the interest 1t lately excited among us. Ia the
Joys ut returning health we have FORGOTTEN both the
disease and the Doctors
Bat Is the present change for the better pcrma-
mont ana may not Tie maiady, suspended for time,
return with aggravated force, The price of tohnc-
co, always huctuatln" according to tn. quantity
made, l. higher at present Tor the short c,up made the
preceding yelt; aml the price OF wheat we know to
nave been raised by the ia lure OF the last harvest in
Europe.
when these accidental circumstances shall mo-
longer exist, we must expect that the supcrabun.
dant supply Of our STAPLE products will a~ain cause
them to be of dull sale ut low prices; that Ia, profits
of slaves aud the value of land VIII fall in prlpor-
tom and that orr citizens. not avaing themselves
OF TIE materials of wealth they 50 amply possess
Will BE- agaln made 70 feel, perhaps with renovated
seventy The sore evils OF poverty and debt.
Now then Is the time To- prepare for tx, too
probable change IN our affairs, aud 10 ask ourselves
H The evils are Irremcdiab.c There are indeed per
S"s VA" aihlsc the public with assigning very DIFF
ercnt Causes for the dis,rcSscs Of the country from
those he sugges,ed some attributmw them To The,
Iarli; others 10 the malt iplcdton Of Banks and 9th
ers again TO the loss of the English West India trade
Bat dS The prices OF all dom products dcpcnd
upon those OF wheat. tobacco aud cotton which
again depend upon the prices these commodities
bear IN other countries, it that the causes
winch have bee" i,,'Is assigned have much more
agency III producing onT pecuniary difficulties than
the last year comet and the crcduity which now
hssenis To the one, would two centuries ago. have
readily admitted the other.
1T does seem to me- repeat, that remedy for the
mischief may be found in transfer of a nat Of our
productive industry from agriculture 10 manufacturers
which new distribution Of lab0ur. by lrsscunr the
superabun lance ofthe produces that we ,l now
hnd market !or abroad, will raise their prices. aud
by essenlD@ our dependence foreign countries for
articles of consumption, viii make Us better able 10
pay Tor such rs we may continue 10 purchase
But before we further consider the bcaclits of this
nc" direction OF our industry, let Us examine the
m"nt OF .nuiIcturCS IN Virginia. They may be
reduced TO four, LIST. the high prca of laboul and
the Hgh rate vi interest among 2i. The Gisad-
vantagcs OF slave iabour 3 Those OH ,cti,,ns of
n nIor~ aud political character. i. Those arising
from the principles ofirce trade. Ofwhjch the two
first deny The practlcanilty o the proposed remedy
and TIC two last, It's policy though it were pracii.
Fwsl. TIE high "H,s u tcascs anil Of i.leytsi in
E.iS country.
This objection is founded on the .onncxion which
- known to exist between the value Of lab,ur and
the progress OF society. II is readily conceded l!al
as population advances, produce rises and labor
falls 10y wnch Is meant that the port ION of la
Dor will cXchlngc for less anl loss rurtion of raw
produce. Thus labour hears lower price in En-
gland than IN the United States. and yet lower i'm Ire
land than in England, and lower still in India or
China. Tho profits of capital the national inter
est oi mouey, Though governed by different laws, IN
IKE manner decreases with the progress of wealth.
and ~ therefore lower IN Philadelphia than I'm Eni,-
lucky, and lover III LOndun than Philadelphia These,
circumstances Of cheaper lb,ur and lower rate of
mic est, evidently give the nation possessing them
great advantages ~ mlnuIcturcs: Nor are they
all. IhCr nscr numbers and more album
dant capital are also likely To be accompanied by
greater skill, more various and improved ma
chincry aud tho advantages of greater subdivision
OF emPloymcnts Two countries therefore thus diff
lcrcn,ly crcumstanCCd, urtWO portions OF the same
country, may exchange products Tor manulac-
turcf, and both be gamers by the exchange.
But It must not be- forgotten that the degree oil
HI'ht attending cue n commerce, ana tho extent t.
which 1t nhy be carried on with any profit at ALL
depend not only upon Gic different degrees of adj.
vnncrmcnt Of each nation in numbers aud capital. |
Out also on their distance from each other thC val
nc compared with the bulk of each particular article
otint'c-and on tho exemption OF the trade from
burthcns and restrictions; notifications Of any OIL
winch may be sufficient To- countcrbaanc, the adyan.
tagcs arising from greater chcapncss OF labour on
capital and may have the same effect this inter
chingc OF commodities, a rise IN the price OF IN /
Dour IN one country, fol- oft in the other The
same extent of transportation which would add not
more than ten per cent to The price of tobacco might
enhance that OF flour twenty per cent of indian corn
INV orsiXty, aud That Of hay, more than hundred
per cent 80 II may cost no 10 convey n riven
value. ~ silks or nusus a thousand miles than tic
same value ia blankets or soilcloth, f0y. II is @.
quliy clear that whatever may be the Inducements
to two countries TO trade they may be counteractcd
BY the duties and other restrictions imroscd on tho
commerce by their ,cspcctiyc governments.
Notwithstanding distance from Europe such
is the difference m the natural prices of labour and