Constitutional Whig. [volume] (Richmond, Va.) 1824-1832, 1831-10-06


if stock is light prices rise. Many years ago, when
Carolina and Georgia possessed nearly monopoly
ofthc production of Cotton they fixed their own pri
ccs in measure; but now, with four times the
quantity grown in the United States, the Brazis,
the East Indies, Egypt SC. come i'll competitors,
and our cotton must go with theirs on the gene
raj rsarkct Of the world to bring what it will; and
long the supply IL fully equal to the demand,
n. il now the case better prices need not be expect
cd TO deny, then, that Liverpool prices regulate
prices here is TO deny common sense and our daily
experience. The price here, of course, is the sauna
as i'm Liverpool dcductng the expenses OF transpor-
taton and tho chance os 4 small profit.
How, then, is the value OF Cotton in Liverpool
to be affected by the abrogation OF the Tariff The
only supposed case IL which the prices can be impro
we'd in this event. is by an increased consumption OF
Cotton Manufactures IN the United STATES; for 1t
certainly cannot affect the consumption in any o.
ther country. But, not all now clothed, and
do we not already supply ourselves with all that
of every species of cotton fabric!-
Really, / cannot imagine how we are to consume
more, unless every soul of us puts extra suit
throughout; and doubt, whether Free Trade
patriotism will go to this extent Some may sup
pose that increased import of foreign goods would
increased demand for our staple abroad;
hut they should recocct that what is gained by
foreign manufacturers is lost by own, and that
il foreign goods should drive domestic manu- fac
lures wholly out of the market it would only be
ccssary for us to transfer TO Liverpool the 300, 900
bales sent to the North. must confess,
therefore, Gentlemen, that cannot flatter myself
| this cause.
TO suppose, then, that cotton will rise in Charles
ton, without corresponding rise iii the Liverpool
market, upon the repeal of tho 40 per cent duty
upon foreign goods, is to suppose that, in such an
event, the importer is to abandon his present pod
ding custom, ofendeaverng to get fair profit up
on his goods, and to commence sy.tcm OF bag
ghag and barfcring with the planter.
| Let It's see the operation of this system. Here
is tile 40 per cent. deduction upon foreign goods,
| for dle benefit of somebody.
''Wcll," says the merchant to the planter, "Mr
Shot Staple, if you will allow % of this 40
per tent. for my profit, will give you Is per cent
mort than the Liverpool price current, for your
coffin, provided you take it all out in my goods;
that's fair, Pun sure" "Not exactly, Mr.. Blue
Plai,s" replies the planter, 'sfor in that you
will get 10 per cent. more of the 40 per cent. than
/; aiii besides, L must have some cash"
"4h. Mr. Short Staple, if must pay you cash,
| car give you no more than can get in Liverpool
for II go L cannot allow you that ID per cent. adj
vance. But, you old Gu tomer, will do
ths--if You will allow 90 per cent. advance on
my goods, will give you 30 per cent. advance for
yourcotton, Proridcd you take il all ont in goods.
rhatis very fair, certainly, Mr.. Short Staple"
''Nell, that will do rather better, Mr.. Blue
} Plairs; think make u bargain upon that.
I'm rrfcctly satisfied with the prce-but can't you
let M hare CASH"
What u ridiculous farce is this! And vet VIC are
to defend upon such jockeying system is mere
exhibited, for raising the price of cotton, Mr..
MDJFFIE has promised US. Is it not apparent as
the n'onuay sun, That Tor every cent IN advance OF
the Liverpool market price may get for cot
ton VIC arc TO allow the merchant that cent advance
upon his goods, above the fair market value, and
take as goods for entire paY Why rack our in
vcniidn to cheat ourselves with such trashy abor-
ton a. this? SO long there is the least particle
OF competition remaining among merchants, let this
40 pei cent. duty he removed from foreign goods,
and tir price of such goods falls at nearly or
quite 40 per ccnt-no one need doubt that. But
the npliyers, it seems, not to be satisfied with
this Cotton is to be forcedup, TO meet this reduc-
ton Ealf way; and we to be tickcd with rise
OF upper cent. upon our cotton, provided we will
give - per cent. advance upon foreign goods and
take them fer entire pay Such fdtferiRg hopes
as these may serve to amuse children; and Mr.
MDUFPE could have meant them only for such.
There IS another OF Mr. MDUFyiss facts, which
merely mention, and leave value be by
every fc5d of his In course of the abnve
Circus speech, he attempted To- Hdher the importing
chants, ny representing 10 them, that the Tariff
removed, the estimated sixteen cl;ons of American man.
ulaGlnes would in all probability be driven of the
ke and s"Pplan'ed by foreign manufacturers and that,
from this additional quantity passing ough their hands
ycang, they would reap glorious harvest
ti'w enormouslv patriotic! Truly sentiments.
would ask MIR M'DuFFIE, any OF common sense
how many times SIG, 900 600 specie have the u
intel States, and how long could bear ann,.
aidan! (For our specie must pay for these substituted
goods.)
| Why, man, three years under such a SYSTEM would
sweep every silver dollar from country Our Bank
vaults would echo emptiness and the basis of curen-
cy world he destroyed, bringing its train The complete
pTos'ration of public and private credit Never was so
heard upon this subject, of the such Free
Trade ION Sifc) System as this would bring upor
our Republic, by this Circus speech of GEORGE
NJ DuFFIs.