Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1838-10-25
COMMERCIAL CONVENTION.
TO TIE PEOPLE OF VIRGINIA.

port trade, and your capacity to accomplish that
end 10 state the and which might be derived tut
that purpose, from increase OF bank facilities,
under such restrictions and notifications as tho
wisdom OF the Legislature might devise and from
an increase OF banking capital, II tho addition there
10 authorized by existing laws, should be found, af
ter sufficient uial, inadequate-and state also
the aid which might be derived for tho same pun
pose, from a judcious system of Internal Improve
mcnts. In pursuance OF that appointments the uu-
designed members OF the committee beg leave now
To address YOU.
In performing the duty assigned To us, We have
not thought II necessary to enter into minute sta
tslieal details, do propose 10 address to YOU
a lahored argument. We shall content ourselves
with laying before You all the prominent aud well
asccrained facts. which seem to US To be involved in
the subject. aud with suggesting tho conclusions
To which our minds have been conducted by thom ;
relying or the rest upon your good aud public
spr.
The annexed tabular statements will show the
present amount and condition Of ,our foreign trade
1t will be seen by them, thai the annual amour, of
your direct iofelgn exports, Is S5,265,d6l-ot the
whole exports from your seaboard, is Sll,25l ,53a
Of yonr direct imports tIoal iorelgn coutuics, Is
! &Sl6, sS1-and by consequence the annual amount
Of your imports iiom other States and chiefly from
the commercial cities Of the North. consisting of
the products of those States, aud Of foreign goods
| imported by them ior your consumption, Is $40,
431 ,6J2.
The amount Of your direct foreign exports and
imports is correctly ,,scelained from tho returns of
the custom Offices. The entire amount OF exports
eoaslwise aud abroad from your seaboaid is stated
upon the best Information which we have been able
10 obtain, aud we are well satisfied that the true a
mount Is not exceeded by our estimate.
! The amount OF foreign goods indirectly imported
! through the Northern cities, have means Of
estimating accurately. There is doubt, thai ii
exceeds the difference between your direct foreign
exports and mports-but for the present purpose, It
| " 10 IS q IN
wit, 81 lis, J3i.
From these facts, the striking results are presented
to you, that with the most abundant elements for
extensive foreign commerce, you have none that dc
serves the uame-th1t the eutirc exports from your
seaboard TO all the world. amounting to Slt,251,
! 500, wholly expended in the other States, aud
! chiefly at the North: wIth the small exception of
ISsl6.SS7-the amount OF your direct foreign Imports
aud that with the same exceptions, the whole pro
ceeds of your direct foreign exports constituting for
every purpose OF commerce the most valuable re
coutoes aud capable in well regulated foreign adc
OF suppl yng the requisite capital aud credit abroad,
wholly lost Ion hat purpose your use. aud
| teued 10 the merchants OF tho North To be invest
! ed by them in the purchase and importation 10
their ports Of foreign goods for your consump-
4 ton.
! The direct loss, produced 10 You by this course
oftrade, consists chiefly OF the profits of the npor-
ter-but IN part OF the OF the additional charges of
freight insurance. trans shipment, &c, to which
/
subjected. Estimating the whole at Is per cent,
which is believed to be below the truth and assun-
! Ing that you consume OF foreign goods only an
mount equal to Your direct foreign exports, and there
results to your commerce loss OF about 800, COZ
yearly. That amount OF active eommetcia capital
is annually diverted from your use, to swell the
! tide of northern trade. w do not mean that tins
heavy loss falls directly you, consumers OF the
goods thus crcutously imported SO far as the A.
mount consists ofthe profits OF the Importer the
consumer must OF necessity pay them whether the
importation be direct or Indirect II Is only far
/ as the amount consists OF additional charges made
necessary by ercutous importation, that the consul
mer, as such, suffers loss. But the whole amount,
whether profits charges, goes directly to the loss
of the State.
To estimate the extent and effects Of this great
loss amounting yearly to more than eighth Of the
entire value Of your foreign exports II is NOT stuff
cient to multiply merely by the number of years
during which il has been sustained. II is CONNER
cal capital, necessarily active, yielding income
like itself. augmented not by large annual additions
only but by perpetual reproduction.
We beg you to nsder, what would now be the
condition Of Virginia, If these immense and accu-
mulated losses, suffered during along years.
! had been prevented. Your minds will present
to you picture OF prosperous industry, Of abundant
wealth, of multiplied population and political power,
which cannot fail to inspire you with the most pro-
found regret, that it is only picture Of what she
might be, not OF what she is. Consider again,
what will be her condition a lew years hence,
! if this ruinous and increasing tide OF loss be even
now checked aud turned to her acknowledgement
doubt that your regrets for the past will
Yield 10 the more manly resolution to amend the
future.
1t is obvious to remark the injury which this
course Of trade directly inlcts upon other branches
OF industry. y our commercial marine, u most m
porani interest together with all the ttades assoc-
ated with or dependent upon it, has fallen into la
mentablc decay The Northern towns having Gu
crossed the importing trade and the merchants from
! this and other States being drawn hther TO pure base
| their assorted stocks your manufacturers driven
to seek there market for the sale Of their products,
which, butthened with charges and commissions, are
| thence returned for your own consumption. Your
agriculture langulshes, deprived Of the support II
would receive from 1ourlshng state OF commerce
and manufactures. In short, this manned condition
of your foreign trade has exeied, and must OF ncces-
sity exert a most pcrnicous influence every o.
ther occupation AID department Of industry, by
force Of that powerful and peryading sympathy
which binds them all together and links them to a
common fate.
The gain to the Northern States and the injury
to YOU accruing from the course OF your trade, can
not be more APPLY illustrated than by comparison
Of their condition with your own. With soil in
ferior to yours, and yielding inadequate supplies for
then own consumption, with harbonrs certainly not
more accessible, safe or capaclOus, rivers OF less
volume and extent, with scaner materials and less
friendly climate for manuiacturing-wth far less
means of raising within themselves capital to be
employe in foreign trade, they have had the sagac-
have traded abroad your exports-oul Of the pro-
ceeds OF your products they pay for their foreign
purchases bring them to their ports, sell them
to you aud thus sustain and increase their tonnage,