Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1835-06-30


indies viii soon cease 10 produce sugar for expectation
and will therefore throw the monopoly Of its production
into the hands of the slaveholdng islands and of oui
sana and the Flordas in country; and this will
contribute ut to rapid rise in slave property.
when ST Domingo was first liberated the magma
ions at 'nere speculative Statesmen led them behold
belt OF black republics stretching through the West
India Islands. diliusing their moral influence lay com
nerce and social Intercourse roue bout the hsbtable
globe. Now what WAS the facp Why, that ST Domn-
go Was socn found to have ouch idle worthless po-
pulaton IN her newly emancpaed blacks that her
commerce was at desiroycd she has entirely
ceased to export sugar, although formerly the mos,
productive sugar-growing island in the world. I'm
der these circumstances to talk of moral influence
Is perfectly absurd Those black islanders have been by
the ELECTS OF their lazness ana vices as cectuav
cut OH from the rest of the world if ST Domingo
had been enclosed by Bishop Bcrkeeys forty foot wall Of
brass. The London Quarterly Review in one of its
most powerful articles, asserts that nothing but the
d;tion OF 81 Domingo would have enabled The British
west ldcs TO have borne tho oppression Of the mother
country as long they did that ST. Domingo being
thrown of the competition i'm the nrodueton of s,nr
gave sort OF monopoly the British Islands which en-
abed them to bear the oppressive regulating legislation
OF The parliament Provided let by the busy
iSGG.ng phian;lroplsts, who attend every bo-
put theis own, ever negro mat gets his Il
hetty IN the West Indies, in South America will con
i e 70 rise upon precisely tnc same principles, in
save property IN orr country The Liberation of the
slaves in the British West India Islands, is already pro.
decing that effect. If the French Spaniards, Poru-
Euese Danes Nc shall be unwse enough follow this
lead, the Southern States of Union will most assur
edy reap the benefit and Brazil, too should follow the
example, The effect would be almost complete II youd
give monopoly ia both sugar and cotton Suyar is
not made by free labor any wacre in the world Even
IN ANNA all the sugar aud cotton districts cultivated
~ save labor, which, IN my opnon has to for
ever IN warm countries, the question about the relative
advantages OF free and slave labor. The cultivation of
sugar requires great deal OF hard labor which can be
expected OF the slave alone. In countries tue
Prinepc Of idiepess riumpbs that of denominations
and hence slave labor is universally the efficient
warm ana tropical attitudes. If all the slaves the
west Indies shall ever be bea ted Louisiana will be-
come an Edorado
LDect Of the rise efe price Of cotton and SHARES on corn
N-c
Inc rise IN the price Of cotton aud of slaves is of it,
sen calculated to give an impulse, not only TO all the ag
ricutural products of the South but the North
West likewise, particularly ofthe West Corn which is
the great staple Of the middle States is soon raised in
value by high prices for cotton; because all the
Southern country, which is better adapted the raisin
OF corn than the middle States raise cotton exclusive,
~ aAd mus become purchasers of The cul-
uVation OF cotton likewise, gradually itself
even into the middle States, and thus dinnislies the
quantity OF corn raised still farther In addition to these
circumstances, there has been deficient corn crop for
inc last two years. IN consequence ofdisessng droIIgs
IN the latter part OF the season. and much rain in the
commencement. Now we must tecoect that in any,
necessary of life like corn whose price is dependent on
The home demand, if deficit occur the price will rise
greatly more than in proportion 10 the deficit.
Ihe nigh pice OF cotton and corn will quickly COM
muicale Itself TO horses, mules hogs cattle Sc Which
constitute the great staples of the Vest for with corn
ana cotton high, the middle and Southern States will
css J." "A measure, 20 fvdr those animals and
quenty will become purchasers Wheat and tobacco
depending mostly on the foreign market will not be so
hiuch Affected But is the prncipnl tobacco
growing country for all Europe, and an extension OF
tie cultivation 81 corn and cotton has tendency to di
minish that of ubacco il il evident that tobacco vouI
be more influenced than wheat by rise ia the price of
cotton and corn. Accordingly find that tobacco is
now selling very high The nigh price OF cotton is like
wise calculated to make the South market for all
Inc products OF the north and TO give increased activity
TO the commercial interest which the North possesses
the decpes; stake. Mr. Lee the author OF the celebrated
boston report on the Tariff, and of the best satists
which this country boast Of, the advantage
flowing TO the North from the transportation OF the cot
ton to the South. equal SO O0O OGU OH cotton amount
ing IN value 10 $25,OJO,OOO
Summary Of tic causes of tie present Dyices
Thus have rapidly sketched out the causes which
have been operating in producing the present prices In
Inc hIs place. the late removal Of the deposiics the
consequent caution and curiancnt of business on the
part OF The Bank OF the United States, together with the
afenay relations existing between that Bank and the
state Banks, which imposed the necessity of similar
curaiiment the latter gave shock public and ri-
Vate credit which plunged the country the greatest
distress, and rendered the circulating medium scarce
every where, by both dimnution OF quantity of the
rapidly OF circulation. This at once BROUGHT down
prices TO minimum. The importation Of the precious
metals from abroad the immediate consequence of
owness OF prices and tended TO relieve pressure by
INCREASING the currency. by and by the Banks that
roc safely through tie Storm began when things
tied down. to enlarge their business confidence and Gre
at were restored and redundant circulating medium
Is ine consequence. lhis OF ITSELF is capable of pro-
ducng high prices, independent of causes but in
the present instance it has been aided by great To-
reign demand for cotton, which, together with the eman-
cipuon OF slaves in the British West Indies has made
slaves rise in value throughout slave holding cou
try 1t has indirectly contributed to the hpb r;c f
corn, tobacco, and the staples OF the West and will no
coubt II 1t continues, diuse prosperity over all the
Northern States IN the way have already explained
Prospects
In the mean tmc let ask what pur prospects
answer that this rise in prices has already excited
rage for speculation which will in all probability corrv
up prices still higher. A fever for speculation when
once excited in tic body puitic always Produces both
economically and morally, the most disastrous consc-
quenccs II destroys that regular perseverng industry
by which alone nation be enriched IL attracts
inc capital and resources othe country towards cnier
cal projects and airy bubbles During prevalence of
the South Sea scheme in England, hundreds of projects
were set on tootand the proposed to be raised bv
these eXpcdicnts amounted 10 more than $500 600 OO
which eded the value of ali the lands in Engiand
On these occasions, intoxicated do the people become
WIN spirit OF adventure that they fall victims to the
grossest deinslon. Only call il Joint stock company
ana thousands otdoars instantly How into the scheme
All are anxious To enrich themselves by single stroke Of
upon with contempt Habits the most lux urious and
VICIOUS character speedily introduced There is no
thing more true than the old adage cQsy coyc-e0s,
&C. a man who makes fortune ut stroke is al,ot
sure to spend it exravagaDty. lie mus. i've hnh and
give costly entertainments 10 purchase the attention
ana consleeIaavno the circle into which his wealth
IsosJ justly Introduced him The great merchants Law
BY the speeuaiorsa reckless, proh:gate gambling spi-
rat Is spread through the countryonc-lalf the nation
IS trying to grew wealthy by the ruin of the other
I.a Livery KIND OF dcccpioD alsclOod and trickrrv
are resortcd to for the purpose of influencing llc
markets. . during the iniauotion produced by this
infamous scheine, (SoGih Sea- says the historian
luxury, vice, and prOlligacy increased TO a shock
ing degree Of cxiIavagance The adventurous intoxi
Gated ~ theF imaginary wealth, pampcfcd themselves
with The rafcst daines, and the most expensive yncs
that could be imported tlcy purchased the most stump
uouS iuihWe, eguipagc and apparel, though without