Daily Richmond Whig. [volume] (Richmond, Va.) 1828-1831, 1829-08-19

cannot envy them their feelings; nor will | complain
u the traits which they exhibit shall be- the passport
10 prefermeut, n claim TO your confidence and esteem.
nave the honor 70 be, Sir your fellow citizen,
ANDREW COYLE,
Late Ch'J Clerk Post OG;ce Department
From tn, New York Moaning uc,ald1
VIA. IS The cause Of The Distress and hnrd Times IL
ms country? This question has been asked in q
thousand shapes, and answered in as many. Adam
smith compares a nation to a family, and tells us tha,
what would render a we'll regulated family prospe-
rous, extended, would render a nation so: and OF
course what wou'd dcrange 4 family, would. if an
pied 10 n nation, produce a siuiilar effect. Now if
a family that had been III the habit of buying 500 or
1000 dollars OF goods per anuiim, it BEING inst A.
bout the amount they could conveniently nav for
should be induced to buy donble that uuantity and
become embarrassed, even though thew obtained
tnem cheaper than usual, would II not be strange il
The members OF the family should be found running
about, and wondering trhy they were embarrassed
asking the cause, and attrbutuir il To eyerv kind of
thing imaginable but the true one, that is the buvin,
OF too many goods? Great Britain 10 a GREAT oytent
IS the merchant for the United States. She has or-
dinarily sold us about 3 5000, 900 of dollars .yor,b Of
goods, as much as we could we'll pay for. In 1928
MIR. Peel tells US, she sent to this country more than
double that quantity. Ancr they were brouuh, horc
tHey were cold no doubt, aud the money p1ll for
them Is game Out OF this country to Great Brit ain
Is II strange then that we are embarrassed? Would
IL not De strange II we were not embarrassed? IL re-
Quircs no necromancy to understand this. II is ps
plain as DR.. Franklinis mode of emptyinp the meal
tub, which was done simply by taking out, md mt
ting nothing in. But why has Great Britain of late
sent us so many more goods than usual? The ma.
tons OF The earth beng pretty much at ueace. and
hndIng IL better to make goods themselves than TO
buy them of Great Britain as they have been wont 70
do, she having a larger surplus on hand than usual.
and wanting money more than goods, the ports of
the Unltcu States being open to receive them II
would be passing strange if she did not shin them.
1t may be said that, although there has been n rem
eral pressure through the country, il has been felt
more severely bythe American manufacturers than
any other class OF citizens. This is perrin rs true
tue imported English goods being sold cheap 10 the
of the manufacturers, would of course a
bridge their sales; this together with the general
pressure and hue and cry through the country, ina
the manufacturers were all about to fail, has bTousit
a great portion of the calamity directly upon their de-
voted heads. No class of manufacturers have suffer.
ed more than those engaged 10 maxim. coarse cot
TONS inns had for years beer a very profitable hu.
slness-and vast amounts of capital and credit wor,
employed. The prostration of credit operated like
the bosom OF destruction. 1t was unparalleled. The
Journals IN our mercantile cities who were insitI-
mental In destroying this confidence, have ascribed
the emb rassment to every cause but the truo ona
II is chiefly charged to the tariff of 1922. Tho IA.
riff OF 1925? What an a~bsurdity. Every BODY knows.
mat knows any thing on the subj set, that the tariff
OF 1915 had no effect on coarse ~cottons. The reply
Oh AL the cotton manufacturers, who were exam in-
cd by the Committee of the House OF Rcpresentativcs
IN 1923. was uniform-that they wanted no further
protcctlon-ihat they had under the existing laws OK
uuc IbIS'HD COdTSs cOttOnS, and that all cOmUpfi-
ton, but home competition had ceased. The trou-
oies IN Rhode Island might as well be ascribed 10 the
revocation OF the edict Of Nantz, as TO the last tariff
and those who have produced this impression have
doncN from ignorance, or the most wanton dcccr-
lion.
Let il not be said by those who lave been instru.
mental IN prostra'Ing the manufacturing credit. that
they had pushed the business TOO far-that they ought
not ohave gone beyond their capita. If the same
conduct had been pursued towards the Banks of This
City at r particular Juncture, when one of orr Civ
Banks failed, where would they now have beeno Ira
general rush were now to be made upon us, Is tbore
any one so ctedulous as to believe they would meet
all the demands. Suppose ut the time Of Tho f,nure
OF the Franklin Bank, c,ery paper in the countrv had
come out with the declaration that the New Yor,
Bhlks were all on the eve of n failure, how many
would have withstood the shock What would have
been the situation Of their customers, if they had 70.
fused TO discount and undertaken to rodeern ali tho
parer they mad emitted, by selling the goods, ships.
OF their customers under tine hammer. for wbat
they would bring' Would not the calamity have
been much greater, Mercantile credit il moro .
ever will be. CLARFNDON
Inticalmiro lie o%rticlc, in tho last Edinbnrpb 70.
on the Catholic Question, TO which we have
more than once already alluded, we find the foIlo,v.
Ig passage, uiisirating the tuliacy tthc confidence
superiority Of resources can make up for the in.
of the cause in which they nrc employed
". y. nm.
McI" StItHHbi ana courage nfO not securities
enough for viz toryi or America would still be ours
Let those who viii regard netting IN a contest bst irs
ISSUE, look back TO that fatal war, also with a kindred
II began with'eycry thing ~ our favor but
.ns'Ice. SucI wasthe unnniulty, that the minority
ranged from five 10 ten in the house of Lords.E
Lord Rockingham party, when Joined by Fox WA,
always under fifty in the House ~ Commons. For
mere law, the lawyers were always clear OIL the le-
authority Of this coumtry. The people at
home so positive, that they would have stoned the
man who had proposed 10 surrender it, without ono
yocIe. The soldiers thought the Yankees
were n sort Of negroes escaped from Ncwrnte, and
sailed, delighting 80 the expedition. The Americans
were divided. Mono drearnt Of Indcpcnd-
encc. The hottest would have been satisfied with
some slight concessions. They were scattered over
a vast country, unpfcpa?cd, aud shrinking from the
ltca ola battle. Yet the principle Of Freedom, sHd
Inc sympathy Of Europe, were stronger than the bay
onet OF England; and We were shortly seen closing q
war, where two armies had laid down
.Helr arms, with a peace that not oven left MS our
bonoT. With this example yet b.fring in The mcmorg