Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1838-11-01


occasoncd an increased demand FOR capital with
which 10 conduct the increasing trade, AT the va
nous points from which that trade was carried
And tins demand was likewise regularly and constant
" supplied so that all OF our towns increased in si,e
all became larger toirnS but none oil them rose to
the dignity and size Of city, because there
concentration of trade capital nj either OF them.
The same difference in the geographical position
OF the two States, which produced this striking di
versity IN the OF their trade aud its results OPP
Grated also upon their legislative policy in relation
TO the facilities afforded TO commerce by means of
roads and canals. Every such improvement IN New
oik was designed and necessarily tended 10 in
aud facilitate the trade the only CONNER
cial emporium OF that State Hence every feasible
scheme Of improvement united all voices IN its ia
vor, and the work was executed, aud added It's
capacities TO the great object of swelling the
mercial prosperity OF tho State. In Virginia, on the
contrary, road which might be very useful IN iac
natCg and increasing the trade OF Frederick sburg TO
Richmond, could be OF no sort OF service to five other
places OF equal consequence, consequently the i'm
piovemcnt had ono in the legislature for II and
five against it, and thus II could be executed,
and the commerce OF each section left 10 halt
long as II best might, unaiLcd and alone.
But we have now To view the relative commcrcia l
position OF the Virginia towns and of the city OF New
York III very different aspect. Heretofore we
have regarded them merely az Tho cmpor,a OF the
commerce of their respective States. But IN tho
mean time new world in the West has been filing
up with enterprsing, busy, rich, and trading pop
uation. In less than forty years from the period Of
the Revolution, the majority OF the population OF
the United States is found III the trans Allegheny re
gion. This region, OF immense extent, OF infinite
productive capacity, is locked up from the rest OF the
world with the exception OF the single dangerous
outlet through the Gulf Of Mexico The question
early presented itself, what happy portion OF the At
antc border shall be permiledto enjoy the 'ncacu-
liable wealth which the possession of the trade any
considerable portion fthc ade of this vast region
will afford Which OF all the Atlantic pors is des
tined to become the emporium of the commerce of
this immense empirel This the problem which
Virginia politician in vain attempted 10 resolve by
argument. The New Workers resolved IL by
constructing the Erie canal.
The vast population of the trans Allegh any
gion thus conducted 10 the city OF New
Y ork as the emporium OF lis trade. The neccssa-
ry consequence was, that Immediately a demand was
created at that single point for capital with which TO
carry this immense trade, equal 10 all the remain
ing capital engaged in the foreign trade OF the Uni
ted States. And the demand thus created was OF
course supplied. Under the influence of the uni
vcrsa law of trade already stated, that the supply
will follow the demand, the overw helming capital Of
New \ ork accumulated and secured
But the effect of this seizure of the Western trade
upon the actual and relative condition Of the city Of
New York and of the Virginia towns did not stop e.
ven here. The immense capital thus accumulated
at New York and engaged in the foreign commerce
Of that city, very operated to bring into
else another principle heretofore referred 10. 1t
speedily became manifest, thai the smaller capital
OF our southern towns could not enter into compe
ton at all in the orci gn trade with the overwhelming
capital now accumulated al New York and engaged
in that trade, and that they could not retain even
the foreign commerce which they originally enjoy
ed The merchants Of the South. who, like mer
chants every where perfectly understand theirown
interests, and always pursue IT, not slow In
ceraining that The city of New ork, with its large
capital could import goods FOR them much cheaper
than they could do il for themselves, md quietly
submitting to the of events, they too became
tributary TO the great city, and by enlarging the de
mand for capital there, necessarily occasoncd its fur
thet and still increasing accumulation. Thus the
foreign commerce of Virginia was suddenly wilhcred
and almost destroyed.
This rapid detail of events In the history of New
York and of Virginia commerce, exhibits with the
clcarness of demonstration the result Of which we
we're In search, the true cause of the immense
emulation of capital al the city Of New York.
The conc usion irresistbly follows from acknow-
lodged principles and ndispuiabe facts That concu
sion is, that the constantly Increasing demand for cap
ita in the city of New York has been necessarily and
regularly followed by a correspondent suppLy, and
that thus the actual capital of that city has been
formed and accumulated We have thus arrived at
two positions to be employed in determining the prac-
ticabllity of restoring Virginia her fair proportion
Of the foreign commerce of the country. LIST. That
the overwhelming capital of the city of New y ork
employed in foreign commerce has destroyed the
foreign commerce of Virginia 3D. That capital
may be attracted and indefinitely accumulated at
any point where an adequate demand for its
ployment either naturally exists, is artificial
ly created.
The third and most important point which
mains for consideration 49, is the situation OF Virgil
MIA SUCH that she create at any one
points on her Atlantic border, demand for capital,
10 be employed in foreign commerce, equal, or near
" So to that which exists in New York? II she
can produce such demand, The supply and
quent accumulation Of capital at that point 'ciH
surely toitoV as any inrariaJie effect Iotlo'cs as
cause.
careful investigation Of the facts WILL am
sure convince any one, that the creation Of such
demand at the ports of Norfolk and Portsmouth is
within our power. To illustrate this matter, let us
suppose a case. Let us imagine that Virginia, long
before New York had dreamed of making outlet
foi Western commerce, which would bring it nearly
all to her own city, had been guided by the counscIs
of her profound, her lar-seeing Marshall, and had,
when he recommended it, tapped the great artery Of
Western trade, the Ohio, through the James and
the Kanawha rivers. This convenient, easy, and
natural channel of communication once cpencJ and
all the riches of Western trade would lave foa,ed
upon the Hampton roads into Elizabeth ,iver-
What would have been the effect of annually pour
ing into Norfolk the bounteous products of West
ern enterprise and industry, and demanding TO cx-
change them for the fabrics and the commodities of
foreign climesl Would not such demand for
capi,a to be employed in this immense trade have
necessarily been followed by such accumulation
of capa al at that point, would long ago have made
Norfolk and Portsmouth what New York now is I!
do not see how it is possible to doubt it, if indeed
tho same causes in like circumstances must produce
like effects.
If this be so, then it follows, that the only obsa