Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-11-06

| New York was accumulated and secured.
But the effect of this seizure OF The Western taue
the actual and relative condition Of the city OF w.
York and of the Virginia towns did not stop even ~ ~
The immense capital titus Accumulated a, Ne" onu
engaged in the iorign commerce OF that c.y, hereto
operated to bring into exercise anothet thai The
fore referred to. 1t speedily became ma"NsS ,a,
smaller capital of our Southern towns Gouo ~ 800,
into competition ut all in the foreign faae WV, yk md
whelming capital accumulated d. vi vi 80, ,o,a;n
engaged in that trade, and that tHcy cou'u H. -;
eve, Inc Gre;u, commerce which they originally envy
ed The merchants Of the South who' 'lht
crery where perfectly understand theif own I,
and always pursue ii, were not SLOW IN comiJ i'm
the civ of New York. with lis large capital couiI IN,
mort coods for them much cheaper Than they coo'u u"
for themselves, and quietly summing " m AID
events they became tributary 20 Tue sfcat wy a
Lv cparrinq the demand for capital there necessarily
occasioncd lis further and still increasing accunna'"n
Thus The foreign commerce Of PrgIniu was saaueh'!
withered and almost destroyed -, W,
This rapid detail of events in the history oil M ioiA
and Of VIRGINIA commerce. exhibits with the clcarness
of demonstration the result OF which we were IN Search
the true cause Of the immense accumulation OF cap,'
at the city Of New York The conclusion iiles!sp,y
follows from acknowledged principles and lndspu'coie
facts That conclusion is that the constantly Increasing
demand for capital in the city Of New York has pteh
necessarily and regularly followed by correspondent
supply aud that thus The actual capital oil thal cy nus
been formed and accumulated. We hnVe mus at'''eo
at two positions be employed in determining the prac
cability of restoring to Virginia her iar proportion o.
the foreign commerce Of the county LIST mat the
OVERWHELMING
in foreicn commerce, has destroyed the foreign com
nerce Of Virginia Cd That api,al may be attracted
aud indefinitely accumulated at any point where an aoe
Quate demand Tor lis employment either naturally eAsS
or is attItciaily created.
The third and most important point which remains Tor
consideration, is, is The situation OF Virginia suc mat
she create, AT any one or more points Oh iet
Atlantic border, demand for capital to be employed I'D
foreign commerce. equal nearly So to that which eH
lists in New York? y she ean produce $"ct a dcmnnn,
the su,ply and consequent accumulation q e9Pei al mat
point, acN surely jo0tc any tncartaue cgcj00~S
It's
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 suppose case Let us
Imagine that Virginia, long before N. York had dream
ed of making outlet for Western commerce, which
would bring it nearly all 10 her own city, had been
guided by the counsel Of her profound, her iar'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 open.
ed, and all the riches of Western trade would have
noaled upon the Hampton roads into Elizabeth river
VIVA, would have been the effect Of annually pouring
into Norfolk the bouneous products OF Western en-
tsrpse and industry and demanding TO exchange Them
for the fabrics and the commodities OF foreign Chimes
Would not such demand for capital TO be employed in
this immense trade, Ecre necessarily been followed by
such an accumulation Of capital at that point, as would
long ago have made Norfolk and Portsmouth what New
York Isl do not sec how II Is possible 10 doubt
it, f indeed the causes in like circumstances must
produce like effects.
II this be So then il follows, that the only obstacle
which can prevent the adoption Of similar policy now
from producing the results is the fact that n York
has already secured s trade and the apprehension that
rivalry of can, al this late period deprive her OF
any considerable portion of ii. This would, indeed,
seem TO be formidable objection, and If there are no
other considerations sufficient TO neuralIze diminish
lis force it is calculated 10 parayze all exertions TO
recover the ground we have lost But such consdera-
lions do exist. So great is The prouson with which
Main has howe Dn Is he
extremely elicitous geographical position OF Virginia
that now, after so long dallyng and wasting away
her time, she may in, and at this eleventh hour,
by vigorous effort, receive large and muncent share
Of The rich products Of Western commerce.
It's we'll known that the New York, Pennsylvania,
ord Ohio canals closed least four months in each
year By the ice. And the stopPage Of transportation
which thus occurs is the time unlavolable TO the
Western merchant u not unrequently happens, that
his fall purchases, detained by the low waters of that
season. entirely arrested in their progress by the ice
And every year the Spring purchasers subject TO
detention of from to three months on account OF ice
For it must be remembered that the breaking up OF the
winter not the signal for the immediate forwarding of
all The commodities which had boon e'"rr"d :" thrii
course The accumulation Of goods for four months
along the line Of those improvements can only be gradu
aliv worked off, and the still repeated acceSsons 10 The
amount be transported often occasions delay OF one
and months after the breaking up Of the ice before
the whole of the commodities purchased before that time
be eighed from Pittsburgh and other Northwest.
crn ports And il thus frequently happens that the sea.
son for saes has passed, when the merchant has only
received divided portions about one halt OF his goods
These embirrassments 10 the trade with The North are
the subject Of constant annoyance and ct serious losses
TO the Western merchants.
How different, and how much moro advantageous
would be the condition of trade between The West aud
East, conducted through line of intercourse ascend.
ing the James River and connecting with the great
highway Of the West ut the mouth OF the Great Kama
WIN None of the cmbarrassrnenls which so materially
inue that trade in its Northern channels would occur
a., A i,,tnr nj
weeks from ice is much could ever happen in The
sevcrcsl season. An inspection OF series oil meieo1o'
logical tables very carefully made and preserved by
Col David Rutiner Of knnawha county, exhibits The
important fact that the average period for the last ~
years, in which The kanawha river has been closed by
icc s only two and half days fer each year. This
striking and most important advantage of The Virginia
line Of improvement, would at once compel, as mat
ter Of necessity, the transit Of at leaS. onchalf of all
the eubjccts OF the commerce between the East and
West, upon this line This resu!, would occur al
once, and without effort Every Western merchant
who made his purchases in the Eastern market, al
any period between the commencement oi low water
in the upper Ohio and the re.opening Of ucvc inter
in the following spring, would perceive the de.
cded advantage in regard 70 certainty, expedition and
chcspness Of shipping his goods through the Virginia
route, and lie would of course select that route. Tins
simple fact, independent Of all lis ultimate and natural
consequences all that has generally been inquired in
relied upon by the special friends of the James HI
and kanawEa Improvement because The certainty
of this fact assured The profitable investment Of the capt
tai employed in the undertaking. 1t sufficient FOR
the interest OF the members Of the Company charged
with the execution Of that work, that the tolls would
certainly yield handsome dividend upon The stock
posing the capital Of the Company But this is an cx
cerdingy narrow and insufficient view Of the benef.
cent results Of this great enterprise We have that
the very limited demand for capital 10 be employed in
tho foreign trade Of the country at any of the Vir
gina OF Of the Southern ports, is not sufficient 10 ena
BILE any one Of them compete with New York in the
enjoyment of that trade And great is this advantage
to The latter city all the rest, that the costs
and charges Of rcshpmen freight, &c, &c added TO
the profits upon the importation paid The New ork
merchant, upon the small quantity of commodities