Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-11-13
=e'ssYyYgss,sSaAL C0NVEN aHesN
ELIZABETH CITY.

iha, will enable the citizens Of said county 10 90 inc
share towards Tie encouragement OF direct trade VIII
FOREIGN nations have had The subect under conSidera
rton and beg leave to make the following report:
Your committee have directed their attention to The
following prominent Poin's: q IT.
The present condition OF our commerce q Inc
advantages of direct trade with Europe; 3. The prac
ticabty Of regaln.ng Il; and 4. The mode OF accom-
plislng the object ~ .
l. With respect 10 the direct commerce Of Virginia
they find it in state almost OF annla,cn. From The
perInd of the adoption Of the Federal Constitution, 1t has
gradually declined 10 its present state OF lnsgnhcance
Then amounted 10 several millions OF dollars; now II
has dwnG!ed 10 a few hundred thousands.
9 In relation 20 the advantages of the direct trade
your committee find i. difficult to make proper estimate
OF them. lis enriching effects cannot be better illustrate"
than by reletence to the example OF New I ORR. ne
general activity impaired there to business III all lis DC.
parttnents; The multiplication Of pursuits; The constant
e.npoy afforded TO the various trades ana PROBES
SONS the consequent diffusion OF wealth ana coo''
among the citizens Of that enterprislns oonmonwe"'"'
a prosperity nnexampled in the history OF Sales-are
proofs of blessed results OF direct IN
e,course with the nations of the earth One Of lis opera
will be, 10 lessen the cost OF locign 10
the Virginia consumer. Your committee are entirely salts
fled that goods be imported cheaper by The direct than
the circuous mode by which we no" OBTAIN our foreign
supplies There are fewer intermediate agencies and
charges when merchandise is imported directly into our
State than when it comes to through New York
and other Northern cities The difference IN favor OF
the Virginia importer your committee think, cannot oe
estimated at less than 10 per cent. IT tins opinion be
will save 10 per cent the amount OF his consumption,
admitting that merchants will be satisfied with Their
present profits Or in other words the Virginia ci,Izen
will cents every dollar he exPends Tor foreign
merchandise saving which will generally more than
pay the State and County tax OF each czen
of the State. But the chea pened price OF commodities
is small consideration, in comparison with the general
advantages of direct trade. Another certain effect Will
be, to transfer 10 own people Immense Prohs that
lnonopolized by the merchants and other ciil-
zens Of the Northern States. We OF Virginia produce
foreign merchandise if in this exchange any profit
is TO be made, ought to make It, That ptoh-or IT'S
made, and in the aggregate is immense indced-ls now
by indirect trade realised by the people Of Tue Notth
direct exchange with European nations VIII transfer
The profit 10 those who are entitled 10 ito ourselves
Whatever profit other advantage results from the cir
culalion Of the surplus productions OF Virginia and from
its circulation in the form Of exchanged merchandise,
is secured TO the citizens OF our own Stale According
10 this measure Of value, the benefit must necessarily
be very great Indeed, by direct exchange we shall
take 10 ourselves due proportion OF the advantages
which il now conicrs on New York. II will stimulate
the industry aud develope and employ the capital OF our
citizens. IL will give 10 our merchants large prohts
they know not The profits OF The wholesale nier-
chant and the importer II will yield employ nien and
dispense comfort to large and numerous classes IN oar
own States that row arc without employment and the
comforts which that employment coners. There ~ no
trade, profession class that will not feel It's grna N!
flsnce. Tie merchant, the farmer, the professional
and the mechanic; the ship owEer ship master, r
lot and the rope maker, sail maker, and ship
chandler; and that numerous class The !aborcr-a'l Will
feel the benefccu impulse of direct foreign trade
To encourage employ, and MAKE prosperous and happy
all these classes in State instead of New York,
viii be inevitable effect OF direct exchange with
the nations Of The old world.
One other advantage, your committee cannot r0lTaln
from mentioning. II will prevent the periodical drains
upon circulation which occur each spring and
fail, and instead Of this drain, will substitute the rvsrse
operation, repc,ion from Northern sources. !; Will
10 be expended in our own cities The vast sums
,1lpn ,lpFfh lhpr mi
chants TO New York and Philadelphia. This benefit
will act beautifully upon merchants and transfer 10
them The large profits which country merchants now
pay TO The Northern wholesale Dealers while from cf
it will re act benefcally upon the planting and
other interests of State. THIS course OF things
will Immediately stop our Indebtedness to the North
and the effect will be-, Ia for the various staples
Of Virginia production which are wanted and must be
had by the people Of the North, we will not only
receive the cash from Northern ncighbnrS, but
people will realise the profits Of The commercial
transactions between and them. with an Inoirrct
commerce, not only swell the circulation oil the
North but surrender all The profits and other beneficial
operations OF large trade that naturally should enure
10 ourselves. There sGnoiher benefit OF no inconsde
rahle magnitude which will be the consequence OF Stop
ping Indebtedness 10 the North IL Will greatly al
vantage banking Institutions and through 'hcn the
community Our merchants WHO purchase in Ba'i
more Philadelphia and a. York, pay for what they buy
mostly in The If The Virginia Banks. We being
the debtor communily-though ought 10 be the ere.
dtor--bu few notes Of the Northern banks c!rcu la!e
with Us The consequence is, that The noes 81 cur
banks collected by the banks brokers oi The Ct
ties and returned banks be settledno toy Oft
sets with the notes of the Northern banks, but with
specie. Thus banks liable 20 frequent drains oil
thei. specie Curtamcnt Of accommodation and pres.
upon the community follow necessarily. Your
committee informed that now made upon The
Norfolk Banks by those Of Baltimore, which receive the
notes OF ours aud by this means make them according
10 The business phrase bankabie If this state OF things
exist any considerable extent, is an evil OF the hrsi
ma, md orr LA
way interfering sPr!ous with TIC business OF our pro
pie and depryng indeed in great measure Of The
advantages of our own banking capital
Another consequence Of nes,imabe importance, your
committee must eniorGe-the effect OF q direct commerce
in Iui!ding up cities. The mercantile profit The
gain resulting from drec. exchange OF producons!s
oil the chief funds that minister to the prosperity ard
growth Of cities II is the vast profit OF the wholesale
aud importing merchants Of New York that continually
enlages the bounds aud enhances the commercial power
OF that great emporium That fund it is which there
constantly builds the house and the ships and thus makes
New York rapidly growing city. Transfer to our towns
the same causes, and the same results Will ensue Houses
and ships will be built cities will expand in space
and population; and will become market towns for the
produce OF the State, thus furnishing home market TO
farmers, and saving TO them the difference OF freight
between market al doors and one which is at
q distance from us.
g. With respect TO the feasibility Of obtaining d.
trade for State, your committee entertain no
doubt whatever. They can conceive TO difficulty that
should deter US from making effort TO accomplish Tie
desirable object. The plain theory OF commerce IS,
that nation should have surplus 10 give III ex'
change other that stands in need Of that sur.
plus and has something 10 return for it. Any Country
having suck surplus has the elements materials oil TO
reign commerce; and only requires good IN
the application of medium. The people of Virginia
produce such surplus and possess there the elements
Of foreign trade BY nature, then, we are fitted for
commercial people. Besides, Experience, The great
Of and his surest guide, encourages US TO
upon contest for commercial Independence Our
commercial history will show that we haze enjoyed IL
beal direct export and import trade with European na-
tons. Twenty five years before the American Revolu-
fon ihot sail of left Iamn.