Southern Argus. [volume] (Columbus, Miss.) 1834-1842, 1838-11-13


proof 81 50f prosperity. flour agriculture
was less profitable We should soon become
more commercial Thoi our labo IS more
proauct8e than hai 81 the north. eve
dent from the m that we e eFeI day
borrowing northern capital. and hpd Is
investment here yields profit much great
er than the interest which pay fcr rs
nss. Nearly a the banking capital 81
the south.wcs has been borrowed Ia Blu.
rope and the north upon thus principle.
Tie developemenf of our immense
ricultufal resources has hardly set CONS
menced. The States of Mississippi. a la
banla, Louisiana and Arkansas, contain ii
round numbers some SO millions of acres
each. Is this State al the loves. compn-
tation 1000, 900 are capable s. profitable
cultivation. he pFoportions wi average
nearly the same ia three other States.
Nov. With such immense agricultural r..
sources, I cannot perceive how lhe use Of
foreign capital ID their development can
be injurious TO other Of these states; nor
do understand what advantage hey are
10 derive from establishing, to use . favor.
lite phrase of some politicians, a s'commcr-
cial independence. This phrase. by the
bye, has been very frequent, and deem
ii not aniss TO examine It a moment. III
we can carry on all the commerce arising
out Of our irnInoneo products as ohenply
and alvantageously to ourselves as others
can do ii for us. then | am il favor Of
Commercial independence" if we cannot
then am / not in favor Of il, notwithstand-
the all eaptandlm character of the phrase.
That others should carry our cotton TO
market and bring back 10 us the conmo.
dities which we desire, while we are en-
gagged in the more profitable business oi
production, conveys to my mind no feel.
ing of yassalage OF dependence. have
always been and still am in favor OF foster.
ing southern commerce, but not at the ex.
pense of southern agriculture. To d Ger
tain extent / doubt not we may advanta-
geously enter into commercial compeli-
ton; but that i IS for our interest TO with.
draw from agriculture, capital sufficient to
carry on all our own commerce, both for.
eign and domestic, | do not believe
Whenever the profits Of agriculture shall
be reduced below those of commerce, pri.
vale interest will regulate the matter much
better than political interference.
But how IS che Sub Treasury scheme to
build southern commerce? viii it open
any new channelsl VIII It add any thing
whatever to the facilities we already pos.
sessl No, it viii do none of these things.
Ii will however, say these sagacious and
liberal statesmen, take away the facilities
which the north has enjoyed, and which
has enabled her to exceed US in commerce;
Il viii derange the exchanges, and obstruct
the Intercourse between the two sections
of the Union; and thus, BY rendering
northern commerce difficult, force us to
build up southern one. II will shut up
one avenue and thereby compel us to take
the other. cannot give my assent TO this
reasoning; it seems to me opposed to the
free trade principle, which the south has
always avowed. 1t is at war with the
great objects Of the Union.
This government was constituted upon
The principle that the different pursuits and
interests Of the different States, had an ia.
innate dependence upon each other, and
that under common government, they
could be better regulated for their mutual
advantage. It is this mutual dependence
arising out IF a diversity Of pursuits that
constitute, at once the cause and bond Of
union. 1t is not subject forregret, but
for congratulation. Il is not a dependence
of necessity or force, but Of choice.
When say, for instance, that the State of
Mississippi is dependent upon Kentucky
for her bagging and rope, and upon Mas.
sachusetts for her ships and sailors to take
her cotton TO market; / mean not that she
is compelled, otherwise than BY her sense
ofinterest to have recourse to either. She
can, il she pleases, manufacture her own
bagging and rope, build her own ships and
man them with her own sailors. She on
ly depends upon the other States because
they will perform these services for Der
cheaper than she can perform Them her
self. Such kind Of dependence, d depen-
dence of mutual advantage s. is the cement
ofciyilization, the index Of prosperity and
Improvement. In relation to this subject
savages are your only isldep gndelit people,
/ believe there should be a fair competition
ID commerce; md the people Will Of then
own accord, choose The best market.
With q uniform currency and its necessa
~ accompaniment, low rate Of exchan,
ges. competition viii be fair; for the pur.
chaser wiz then be able to buy where hi
| pleases a unequal currency and a de
ranged state Of exchanges, for instance
such state Of things as has existed for the
last year, win undoubtedly give an artifi
cial impulse to southern commerce, but i
/ will be BY destroying Competition, BY cut
ting off the old channels, and thus forcing
trade into the new. Ii viii be ia effect
tariff in disguise.
a uniform currency, therefore. I consid
or The most essential ally 0fffee trade AMI
free competition. Cod and silver are SUI
J iicientiy uniform, but ate deficient ID con
venience and quantity. "a paper cnfren
] ~ OF some sort take II for granted, y,
i must have. ! have never en4erisirec l5u
, one opinion on this subject, and that Is
that uniform bank paper currency can
not exist without The agency d Unitel
States Bank / believe tie State Bank
By themselves inadequate lof The prodQe
ton Of q Uniform currency. They hay
1 no common yolilioa Without 0nlf0rl1it
8 Of viii or Of action q IS il vain Is expec
+ uniformity 81 result Looking upon cui
rency as he most aniia Ingredient IA
5 deed the very soul ofconlnefce, and find
) INC ia the Constitution full and af6ble now