The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1838-06-23
THE NATURAL COURSE OF TRADE AND
EMPLOYMENT OF CAPITAL.

We copy the following interesting facts
from the New York Gazette. The informa-
ton is peculiarly apropos at this time, when
there i ga much driyel;ns aDour divorces!
Divorcing the Government from the banks;
the banks from the people; the rich from the
poor; the North from the South; agriculture
from commerce; commerce from manufac-
lures manufactures from capital: capital
from credits; and, finally, each and all from
the labor and industry Of the land the grand
consummation of all which is to be divorce
of the Union from the sovereignty, trade. and
independence Of the country. To such a
result tends and tended the argument Of Mr..
Pickcns, Of South Carolina, on the Sub-Trea-
sury bill, delivered on the 10Th Of June cur
rent; though perhaps he did not so intend it.
His argument, if defamation run mad can
be called argument, was so entirely, we will
not say refuted, but annihilated by MI. Prem
tiss, Of Mississippi that it would be, perhaps,
unfeeling, now it has departed, to allude to it
disparagingly; for de mortuis, nil nisi, &c.
But to return from the grave Of Mr. Pickens'
argument, let us simply remark, that the fact
mentioned in the following article, that the
owners of the Gold Mines of Virginia, are
constrained to resort to /" Philadelphia, New
York, and Boston," to get capital and credit to
enable them to dig their gold-was strikingly
illustrated in Mr.. Premises speech on the 2lst
inst, wherein he mentioned the fact, that
r. -, hen no hon ,faIp IF
the whole country was not quite four hundred
| millions, four of the Western States had
ninety millions Of it to trade upon, which was
owned by New York, Philadelphia, and Bos-
ton, and they had not enough And yet Mr..
| Pickens expects to divorce" the South and
South West from the capital and commerce of
the North We beg him to postpone this
consummation which he so devoutly wishes,
till the South does not have to send to the
London Stock Exchange, nor either Of our
three great Northern cities to obtain capital
for working their gold mines"
| Virginia cold Mincs-We understand that a gen.
| tleman connected with the London Stock Exchange,
has lately visited the Gold region in our Southern
| States with view to the employment of capital in
4 working the mines, which have been somewhat
| neglected during the embarrassments in the money
market during the past year. The gold region com
mences in Virginia, and extends southwest through
| North Carolina all the northern part of South
| Carolina into Georgia, Alabama and Tennessee.
The mines in North Carolina and Georgia have been
extensively worked; but those in Virginia have
within a few years attracted much attention. The
| Culpeper Mine in Culpeper county, Bookers Mine
in Buckingham, and the Walton Mine and Triple
| Fork Mine in Louisa county, Virginia, have been
very liberal in granting charters for Mining Com
panies, and large portion of the stock in these
Companies has been taken not only in Virginia, but
| in Pkiiadelphia Ncp York and Boston.
! II is a fact not generally known, that Miners who
! have come from the Mines in South America and in
Europe, pronounce the States to be more abundant
in gold than any other that has been found on the
| Globe. BY statement published in the American
| Almanac in 1882, (from the New Rork observer,(
il appears that the weekly products OF all the Gold
mines In the United States in 1881, was Sl0O,0OO,
or five millions of dollars annually being more than
the product of all South America and Mexico. But
small part of the Gold is sent to the United States
Mint By far the Larger part is sent 10 Europe, and
considerable is used BY jewelers., &c. in this coun.
| try.