Liberty advocate. [volume] (Liberty, Miss.) 1835-1866, 1837-12-12

or ADOPTED. The pursuits OF commerc,
must be realized; the commercial clas
must be elevated in public opinion 10 the
rank in society which properly belongs t.
it. The avocation of the merchant re
quires as much character and talent, ant
is ofas much dignity and usefulness, as any
other pursuit or profession; and the sense
less prejudice which would assign to it ar
inferior rank, has been blindIy borrowed
from those Nncient republics and the no
dern despotlshs, whose policy was tot
gard war as the only honorable purstN
As agricultural productions, which FIND
their market principally in foreign coun
tries, constitute the almost exclusive
sources of our wealth, the mercantile elias.
is as Indispensable to our prosperity as the
agricultural. Their interests are indis
pensably identified; and whatever affect:
the prosperity Of the one, must have a cor
responding influence on the other. How
much, then, does the general welfare o.
the staple growing states depend upon di
verting into the pursuits of commerce a
larger portion of the capital, the charac.
ter, and the talent which have been hither.
to directed too exclusively to agriculture
and the learned professions! 1t is the de-
liberate opinion of the committee, that no
change could be made in our pursuits that
would so largely contribute to the public
prosperity; and that those public spirited
citizens who shall take the lead in this
new career Of useful enterprise, will de-
serve to be regarded as public benetactors.
This prevailing habit of investing almost
the whole proceeds of our cotton crops in
land and negroes, has produced constant
tendency to over production in this great
staple, and nothing but the extraordinary
increase of its consumption in the great
market of the world has prevented US from
experiencing the ruinous consequences of
our mistaken policy. In this view of the
subject, every dollar that shall be diverted
from the production of cotton to some other
profitable pursuit, will be so much clear
gain to the planter and to the country. It
is we'll established principle in political
economy, that an excess of supply beyond
the efficient demand diminishes the price
of an article more than in proportion to
the excess, and that deficiency of supply
Increases the price Of a corresponding de-
gres. For example, it is believed that If
the present cotton crop of the u. States
could be only 10000 bales, it would produce
a larger aggregate sum to the planter than
if i! should prove to be $4,000 bales, the
price being more enhanced than the guam
tty would be diminished. 1t was upon this
principle that the Dutch East India Com
pany actually burnt one half oftheir spice,
that they might obtain more for the re-
manning half than they could have obtain
ed for the whole. Let us pursue a still
wiser policy. Instead of burning our sur
plus, let US direct the capital and industry
that produce it to the profitable pursuits
which will open new sources of wealth,
and at the same time increase the value
Of those already in existence. In connex-
ion with this view of the subject, the policy
Of raising every supply which the soil will
produce cannot be toe strongly recon-
mended By whatever specious reasons
4 contrary policy may be countenanced,
proves them to be tallacious.
If every planter would raise his own sup
plies of the various productions OF the
soil, and the animals which feed upon these
it would tend greatly to limit |
he excessive production Of our great sta
oles, and increase, in the same time, the
and the income OF the agri-
cultural class.
The committee will now proceed TO ex-
anime, little in detail, the advantages of
he Southern cities for the business of
oreign importation, compared with those
If the Northern cities. In the first place
rouse rent is much higher in the latter
han in the former very important Gle.
nent in the circulation. In the second
,lace freight is habitually higher from
europe to the Northern than to the South
,rn cities, for the plain reason that ships
coming to the South for cotton would have
0 come in ballast if they were not freight
ID with merchandise. All the other ele-
nents that constitute the cost OF lmporta-
ion are believed to be as cheap in the
southern as in the Northern cities. II is
hen demonstrable that foreign merchan-
ize can be actually imported and sold IN
he former al cheaper rates than in the
after places. When to this we add the
expenses Of transhipment at New York or
Philadelphia, the loss of interest and In
urance to the Southern cities, and the
expenses Of landing and storing, then It Z
5ill be apparent that the merchants Of
he South or South West will find il greatly
> their advantage to make their pur- !
bases Of foreign merchandise in our cities
a preference to New York or Phlladel- !
hia.
The same course Of reasoning will show
hat our cotton can be exported directly
rom our own seaports with similar ad- {
antages over the more circuitous route
f the Northern cities. 1t seems, there I