The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1838-04-19

~ 49,, ,,,de Trade, like water always seeks It's
il ad runs it's 10 the shortest ana mest aHtH
r r, rms, he admitted therefore, that but Tor oppo.
80 49,. h,.cIes which have been nterposed and WHICH
s c,ced The commerce Of the South or 81 as naiu-
IA Annals, our Cotton Rice and Tobacco, would
have found their markets Europe, oy the shortest ana
most direct route from SO ithern seapof's anu 70 oou
ern ships and il is equally obvious, that ihe foreign
goods received in exchange for those productions would
have been returned to through the same channels
Now can any plausible reason be assignec, WY unuer
a system Of free trade, the exports OF SCUM oatosa
and Georpla- amounting as has been shown 70 OH
600 Oee annuaiy-should no, be sent directly 10 Eu-
rooc from Charleston and Savannah and why the To-
reign goods for irhieh they exchanged should not DO
in1ored directly in return Our harpos arc safe and
rommodlous the voyage shorter and safer, and The
freight ess But what is ofuhniely more importance,
we actually PRODUCE THE yERy ARTICLES which are 10
be exported and require ron OUR OWN CONSUMPTION
the very goods TO be received IN exchange tor those OK
ports. Now any thing be conceived morc unnatural
more Of the usual and proper course OF business
than that CoTroN, which is TO be exchanged for
the manufactures Of England. should be first shipped TO
New York-there sold TO the New fork merchant--ty
him ranshppcd and sent to Englandthere again sold,
and converted nto British goods-whlch goods are to
be first imported into Now York. and from thence Tor
warded TO Charlestoi-herc be sold 10 the Carolina
merchant and paid for in bills at per cent Count the
number OF agencies employed in this transaction sum
up the freight insurance, commissions, profits, and other
charges consider the loss Of time and risks incident 10
doubt that If such trade be carried on at all
DIRECT IMPORT AND EXPORT TRADE, (f there be no OBJ
stacle inerposed, must be infinitely more profitable =
Under similar circumstances, the capital required 10
carry the indirect trade mast be much greater, than
that which would be needed in the direct trade Indeed
under system Of mutual exchanges OF our productions,
for those Of Europe the capital required under Well
ordered system OF commercial arrangements, would be
comparatively small Credit might, TO great extent,
supply the place OF capital and such trade might be
conducted principles which would the plan
ter the largest profits his crops and his supplies at
tho lowest rates. while the mrrchau, The ship owner,
and every other class in the community would pariici-
pate largely IN the advantages Of such trade
But let this direct intercourse be once established,
and capital would fotr in all quarters, 70 supply
any deficiency that might be found to exist Inc great
law Of demand and supply would not leave Us long
without money capital fully adequate 10 al Inc opera
tons OF trade. So with regard 10 the market Tor the
foreign goods, which, under this system, would be re-
ceiyed at Southern sea ports. Obtaining them, as
should be able do, at less cost than they could
possibly be procured through New York, would I'M
questionsby be able dispose Of them advantageous
terms least the extent Of demand for these
goods aad THIS alone, would increase our direct mpor-
FIVE six times their present amount II only
the consumption Of the South was supplied through her
own ports this of itself would create revolution IN
our trade, which would change the entire face Of the
country, and pour flood Of wealth and prosperity
through every part OF orr land But Is one Of the
important and interesting features OF our SYSTEM
!
intercourse with the interior OF country, by means Of
railroads. canals and turnpkes. connexion between
the South and the West by the various schemes now IN
progress in Virginia, North and South Carolina, Geor-
ga, and Alabama, will furnish outlet for sill the goods
that be received from abroad in exchange for our
productions And when the great West shall find
market and her supplies through the ports Of
the South demand will be furnished, the extent and
value Of which cannot be too largely estimated, Let
these various schemes therefore, for the extension Of
49,.
energy worthy OF the object. Let unworthy jealous
iesno narrow, merely sectional views disturb that
harmony Of feeling aud concert Of action which are
essential TO success. w.
There are some circumstances connected with the
present condition Of the country, which may to
animate our ZEAL encourage efforts, and urge TO
that prompt action on which our success may depend.
Our great staple has become - the
cy Of the world" 1t is the great medium of exchange
regulating and controlling to considerable extent, the
commercial operations both OF Europe and America
During the suspension Of specie payments it affords
almost the only OF obtaining those credits abroad
which Northern commerce has heretofore mainly
lied for its support. The great staple our OWN.
The revolutions which have recently taken place in
the commercial World-thc failures and destruction of
credit in New York, and the soppage Of the American
houses in G. Britain, have brought about crisis pecu
larly favorable to our views. Here is cotton lying
at our very doors-the produce Of fields, and
furnishing, at this me the only medium of exchange for
the manufactures Of Europe. Why should our own
merchants not il for this purpose The door is
open TO and we have but TO and take pos
session, Of that which belongs u.s. If we improve
the opportunity, the victory will be ours. The tide
in affairs is at the food Let US launch upon il
bravely and it will assuredly "lead on to fortune"
But should this glorious opportunity be gall
liant bark, instead OF riding the in triumph, may
be driven among the breakers dashed upon the rocks
or at best be again involved in those eddes and shall
lows" from which we may more be able TO IS
cape. Even the Pilot, who weathcrs the Storm"
may be compelled to "give up the ship" when DESERT
ed by the crew, and left condition utterly hope
less.
The MEASURES which deemed BY the Committee,
proper to be adopted IN order carry these
effect, are embodied in distinct propositions which
herewith submitted TO the Convention. They embrace
strong and emphatic declaration of the feelings and
oplnons of the Convention, the importance Of d.
rect import and export trade and the duty Of adopting
all proper means for the purpose Of establishing and pro-
motlngt. hey recommend in the next place, strong,
earnest and reiterated appeals 20 the understandings
and feelings OF all the people interested with view
enilst their sympahlcs-exce their PATRIOTISM and to
can into action AN ENLIGHTENED PUBLIC OPINION IN tho
fnftherance OF our views An adjourned meeting of the
Convention to be held IN this place, the third Mon
day IN October next-an ADDRESS the people of the
Slave holding States and the adoption CT other suitable
measures 10 secure full representation, the Conven-
ton from all the States interested are amonp the mea-
sures recommended. In looking the essential OBJ
Jects OF providing and CREDIT as we'll as mar
kets tor our imports, and thus laying foundation
for the ultimate Of scheme-a series Of I'M
portant and practical measures have been recommended
which, if carried into full effect will it is confidently
believed go very far, TO put Merchants on footing
with those Of the North An earnest call is made upon
the Banks, to which they hardly fail to respond to
provide the required capital and credit by arrangements
perfectly safe to themselves and at the same time
well calculated to furnish all the facilities, which the d.