Southport telegraph. [volume] (Southport, W.T. [i.e. Kenosha, Wis.]) 1840-1850, 1840-10-06
From the Journal Of Commerce

Ld1cs. ALI the works OF nature are re-
gulated by laws. The Creator has formed
nothing in matter or mind, and allowed
nothing in all their movements, however
grand or minute, but it is regulated by
laws. The whole of science is to find out
these laws. Men have found out so many
that they have made something of a codi-
flcation Of them, and have come to speak
OF the laws Of sight, the laws Of sound, the
laws of matter, the laws of mind, the laws
of trade, &c. 1t has always been known
that an apple, when it left the tree, would
fall to the ground, but the law by which it
fell, is Of recent discovery. Those laws
Of matter, the knowledge Of which consti-
tutes the whole science Of chemistry, were
almost all unknown hundred years ago,
though they are all as old as the creation.
The old woman could see no reason why
the Steam should escape from her dinner
pot, and SO insisted on fastening it in
But she failed in the controversy, and was
sadly scaded in the bargain. But since
the laws or habits or instincts Of steam
have been discovered, it can be confined
and managed at pleasure, and made, as a
giant, to turn a crank. All the laws of ma
ture are intended to produce the highest
amount of good. Their violation, there
fore is rebellion and crime, and endangers
all who are engaged in it.
The laws Of trade have been among the
last to be discovered. 1t is scarcely hun
dred years since it was discovered that
trade had any laws. 1t used to be sup
posed that the movements Of trade were
uncertain and dangerous, and the great
off G. inhf to
teract them. fall the laws Of trade those
relating to currency are the very last to
be found out. We hear men talking now
of the necessity of some great machinery
" TO regulate exchanges" as if exchanges
were not now regulated by machinery of
the most perfect fitness to its design. Fifty
years hence, it will be wonder that men
could ever have been so unobservant as to
entertain such an idea. Exchanges no
more want regulating than tides. Indeed,
when left to themselves, they are regula-
ted so perfectly that no regulation can pos
sibly be introduced without occasioning
disorder. A little examination of the SUBJ
ject in detail, will show that the matter of
exchanges is the last TO require help. Po-
liical economy is now so much understood
that trade is generally spoken of (truly)
as nothing but an exchange Of surplus COM
modlties. Exchanges are only the trans
fer of the proceeds of exports to pay for
imports. A cargo of cotton is shipped 10
New York from New Orleans; and from
New York part goes to New England and
part to old England, and the proceeds from
both points of ultimate destination come
back in manufactured goods, which being
sent TO New Orleans, the accounts are ba-
lanced. In the process, however, several
bills Of exchange are drawn. The expor-
ter wishes to sell these bills, and the i'm
porter wishes to buy them. AS they do
not always knew each other, brokers will
he employed, and shops opened where bills
of exchange will be bought and sold as
any other commodity is, and for a very
small profit. If New Orleans buys more
in New York than she pays, and so is get
ting behindhand, exchanges, will show it
Immediately. If the difference is carried
far, coin will be shipped from New Or
leans to New York, money will be made
scarce there, and so purchases will be
9 checked, economy introduced, and The
wrong set right. To prevent and cover
up this growing unfavorableness in the
rates towards New Orleans, would be po-
sitively hurtful; for the tokens Of impro-
per action not being seen, excess would so
on until the revulsion would be more inu
rious. If we leave these thing to the re-
gulation Of the wise laws Of trade, govern
ment can never "tamper with the curren-
cy." But if we establish a regulator, we
prepare the way for endless mischioffrom
the mixing OF politics with the currency,
and shall probably bring upon the country,
in the days of our children, all the confu-
sion and ruin from which we are now en-
crying. Let us then be contented with
the best of all laws made by the best Of all
lawgivers.