Wheeling compiler. [volume] (Wheeling, Va. [i.e. W. Va.]) 1829-1831, 1829-08-19

the loss Of the Eaglish West India trade.
But Is the prices Of all our domestic pro-
ducts depend upon those of wheat. tobac-
co and cotton, which again depend upon
the prices those commodities bear in other
countr. ;. 1t Is not seen that the causes
which have been thus assigned can have
much more agency in producing our pecu-
mary difficulties than the last years comet;
and the creduhty which now assents to the
one. would two centuries ago have readily
admitted the other.
Ii does seem 10 me, repeat, that rem
edy Cor the mischief may be found IN the
transfer Of part of our productive iudusl
try from agriculture 10 manufactures;
which new distribution of labor, by less
eninr the superabundance of the raw pro.
ducts that we must now find 4 market for
abroad. will raise their prices, and by less
ea'ng our dependence oslorelgn countries
Cor articles Of consumption. will make us
bo,-s able 10 pay fr such as we may
conhaUe 60 purchase.
But before we further consider the ben
efts of THIS new direction of our industry,
let us examine the objections which have
been urged to the enlistment Of manu'ac-
lures ia Virginia. They may be reduced
to four, Ist. The high price Of labor, and
! the high rate of interest among us. "a.
The disadvantages Of slave labor. 81.
Those objections of a moral and political
character. (. Those arising from the
principles # free trade. Of which the
two FIRST deny the pracucabillty Of the pro-
posed remedy, and the two last, IT'S policy
though 1t were practicable.
FIRST The hgt rates Of 'oages md ot
interest m his country.
This OBJECTION g founded on the cOnnex-
ion which S known to exist between the
value Of labor aud the progress of society.
Ii Is readily conceded that as population
advances, raw produce rises and labor
falls, by which Is meant that the same
portion of labor will exchange for less
and less portion OF raw produce. fhua
labor beans lower price IN England than
IN the Un.ed States, aud vet iowern Ire
land than in England, and a lower still in
India or China. The profits Of capital
or the national interest Of money, though
goyernedby different laws, in like manner
decreases with the progress of wealth,
and is therefore lower On PhIladel phld than
iin kentucky, and lower Ia Loadoa than
10 Philadelphia. These circumstances If
cheaper labor and lower rate of interest,
. evidently give the nation possessing them
great advantages IN manufactures: Nor
are the al Their denser numbers aud
, more abundant capital are also likely 10
be accompanied by greater skill, more va
rIous and improved machinery, and the adj
vlnlages Of "A greater subdivision Of en-.
E pioyments. Two countries therefore thus
dlilera lily clrcum+tanced, or two portions
of the same country, may exchange raw
= products for manufactures, and both DO
= gamers by the exchange
, But It must not be forgotten that the de-
gree of profit attending such a commerce,
aud the extent to which It may be carried
& On with any profit at all, depend not only
} upon the different degrees Of enhancement
, Of each nation IN numbers and capital,
Q but also on their distance from each other
on the value compared with the price OF
e each particular article Of trallic--and on
e the exemption OF the trade from burthens
y and restrictions; notifications Of any Of
. which may be sufficient 20 cOunterbalance
r the advantages arising from greater cheap.
{ ness Of labor or capital and may have the
% same effect on this interchange Of commo
D dlties. as ID rise IN the price Of labor ln ono
q country. or fall Of It ia the other Tho
, same extent Of transportation which would
e add not more than ten per cent TO The price
% Of tobacco, might enhance that Of foul
q twenty per cent Of Indian corn fifty o.
d sixty. and that Of hqy more than a hun
dred per ceut. So It may cost 10 moro ts
convey a gwen value, Ia silks or musllns
e a thousand miles, than the same value NJ
blankets and sail cloth. fifty. Il Is equally
e clear that Whatever may be The inducements
10 two countries 10 trade, they may he
{ counteracled by Doe duties and other re-
strictions imposed on the commerce BY
} their respective governments
e Notwithstanding our distance from Eu-
rome such il the difference IN the natural
r ,rIces Of labor and raw produce M tie
F. two countries, that We have carried on a
! irritable trade with the maratime nations
OF diat continent, by selling them tobacco,
flour, AMI of late years, cotton, and re-
, ceiying from them, especially Great Brit
f ain, the products Of their looms, their pot
! leries, furnaces and workshops Tho
distance. however. IN increasing the *.