Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1830-09-09

ed and particularly of late wears, with great
ability aud integrity that II has fulfilled all
the reasonable expectations of those "bo con
| Sfi'uted IL and, with the same committees, !
think il has made an approx imafion towards the
/ equalization ofIhe currency. as great as IS
pre- cticahe. Whether the charter ought 20 be
reaewed or not, near six wears hence, IN my
judgement. is a question OF eSpeaiency 10 be
decided by tie then existing states OF The coun
Try. II will be necessary at hat time 10 look
carefully a, the condition both Of the Rank
and OF the Unio> To ascertain, lfthe public
debt shall in the mean time he paid of. what
eject that will produce what will be our then
financial condition, what that nf local banks.
the state 81 opr commerce, foreign a. domestic
! as well rs the concerns OF our tuITcncy gasrr-
ally. ] am, sheseiore, tot uow prepared 10 say
whether tho Charter ought not 10 be renewed
! on the expiration OF lis present term. The
| Bank may become lnsnvent aa1 may hereafter
forfeit all pretens ons 10 n renewal. The qnes-
ton is premature may not be alive 10 form
any opinion upon il. Ii belongs 10 puserlty,
aud if they woaid hive the goodness 10 decide
for us some of the perpleXlng and practical
questions OF the present day. we might be dIs-
posed TO decide that remote question for
them. As ii is. il ought to be indefinitely post.
poaed.
WIN IespeCt 10 'nP American DgN'tHit "tltu
demands your undivided appreciation, aud in
regard 10 which you are pleased 10 estimate
much too highly IN, services Its great ohJrct is
to secure the independence OF onr country, to
ngment its wealth aud TO if'use the COM
forts OF civilization throughout society. That
object. il has been supposed, can be best &C
compished by introducing, encouraging and
protecting the arts among us. II mny lac cal
led system of real reciprocity, under the OPP
Grafton OF which one citizen or Que paft OF the
country, can exchange one description of the
produce of labor with another citizen or ano.
Their part # the country Tor d. ffereni scrip
ion OF tho produce of labor. II is system
which It,eiopes. improves and pericCts the ca
pabilitics oil our common country, and enables
Us 10 avnil our,.lv of all the resources with
which Providence has blesi It's. IotAeI lou E
ing classes il Is Invaluable since tt increases
and ululliplies the demands for their ministry,
and gives them al option of emnlovmentS. II
adds power and s'ren9ihto our DHipu hy new
ties Of interest blending and connecting to-
gether all lis parts. and creating an inte'es,
with each IN the pro:per v u the Whole. Il SC
cnreS 10 our oWo country whose SIX i and enter
prise, properly iostefed and sustained, cannot
be surpassed those vast pre- fits which are made
in other countries, br the operation Of coover-
ting the raw material mtn manufactured arti-
Giles. 1t naturalizes aud creates "IthIn the ho-
spn ui our country all he arts, end mixing the
farmer, manufacturer, mechanic, artist and
those Engaged IN otheE vocaIions together
admits OF thosr mutual exchanges. so condo
Give TO the plospert, of all aud every one, free
from the lrerlls Of the sea aud war All this
il effects whilst il nonrishes and leaves a fair
scope to foreign trade. suppose we were
cation that clad ourselves and made all the
implements necessary To civilization but did
not produce our own bread which we brought
| from foreign countries, although our own was
capable Of producing IT, under the Influence of
suitable laws OF protect u ,oug not such laws 10
be tn+cted' Tie case supposed is not essentially
/ different from the real state Of things whicn
! led 10 the adoption of The American Sys-
/ tenn.
That system has had wonderful success Il
has more than realised all the hopes Of IS
| founders. II has completely falIshed all tue
| predictions of its opponents. IL has lncreds-
ed the wealth, and power and population
of the Nation 1t has dininished the price OF
articles Of consumption, and has placed them
within the reach of a Ear greater number OF
our people than could have found means to
commsud them, ii thes had been manufactured
abroad instead Of at home.
But it is useless to dwell on the argument in
support OF this benefcent system before ia is
autiience. II will be of n consequence here TO
examine some OF the OBJECTIONS which are still
urged against il, and the means which are pro-
posed TO snbvert i. These objections are nov
principally confined to Is operation upon the
great staple of cotton WOOL, and they are vi
ged with most vehemence IN a particular Slate.
fthe objections are well founded, the system
should be modified as far rs il can consistent
lv with interests IN other parts of the onion.
4 thpu mi vel drH. 4 Is In,
they will Ike finally abandoned
In approaching the subject. have thonrht
il ofimpOrtanCe TO enquire what was the proGt
made upon capital employed in mo culture
OF Cotton, al its present reduced price The
. result has been lniG rma on that il nets from
10 IS per cent per annum, varying according
10 the advantage OF situation, and the degree
of SKILL, judgment and industry applied TO Iie
production OF the article. But the lowest rate
of profit in the srale, is more than the great
est amount v jch IL made on capital employ ed
N HE farming portions of Inc Union
Il the cotton planter have any just complaint
against the expedieucy OF the American Sys.
/ ten, i aust be founded On the Tact. that he
either sells less OF his staple, Or sells Al lOHeT
prices. or purchases lor consumption, ARTICLES
~ dtdrsr rAtes or of lcOrse qualities, IN conse-
qarucr oi thai system, than he would do, II il,
! Old not rxist. II he you'd nei,ner sell more of
his staple, nor SCH nj better prices, nor could
purchase better or cheaper articles for CON
Sumption. provided the system did not exist
theu he ha, 40 cause. on the score Of us bur.
tAenso me operation, 10 complain 0tthe >ysle IN,
! bat must look to other sources Tor The gTievHn-
ces winch ne suppo3es aict blm.
As respects the sale of MS staple, ii wond
| be Indifferent TO iaeplanier whether one por-
ton Of il was sold IN Europe and the othpr in
America, provided the aggregate Of both were
equal TO all that he could sell IN one market,
| il he had but one, and provided he could com.
mand he st me prices in both cases The dou-
Bile market would indeed be some better tor
him, because OF its greater security in time OF
war as we'll as peace. because II would be al
tended with rss perils aud Iess charges. If there