The Ohio Democrat and Dover advertiser. [volume] (Canal Dover, Ohio) 1839-1840, 1840-05-01

Ana mere, Hgdtns tno hWoISo" SO'V"
grower IS greatly injured, as we'll as the
manufacturer. Ie With our augmented
produclion of cotton, we desire II to
maintain a permsnSni profitable price,
we must extend the consumption OF The
m manufactured fabric. Thai consumption
will be greatly Increased, BY diminishing
the expense Of manufacturing the raw
material, and thus cheaping The PrIce,ant
thereby extending the use, OF the manut
factured fabric, Give US here a specie
currency, and having but little. # any,
freight or insurance, and no duties TO
pay for the raw material, we can supply
the world with manufactured fabrics at
cheaper rstes than England could Pos.'
sibli afford TO DO. And when we take
into view, also; the cheaper rates at
which we could then manufacture, equip
and sail vessels, we could put down all
competition, and export abroad or sell
at home, not merely one million eight
hundred thousand bales Of Amefican
cotton, but nearly all Of this cotton.
which is now chiefly manufactured a.
broad, would be manufactured TO an in
fnilely greater extent at home' to the
extent, in q few years, of al least one
million of bales per annum; making thus
an annual difference in favor OF our own
country Of atleast fifty millions of dol
lare, Yes, there is not a plantation or
city in the South, not seaport or man
ufacturing village in any Of the Eastern,
Western, Northern, or Middle States.
would not feel new impulse from the
adoption OF this great system. We have
the greatest natural advantages OF any
country upon the face ofthe globe. We
have the most fertile soil, the best cli-
mate the most energetic and intelligent
people, and the freest Government on
earth, and ought,o be the most prosper.
ous of nations. Why is it o.herwissf
Il 10 our paper system, that prosrales
the labor and industry Of the nation, that
taxes lebor and it's products, that taxes
our foreign exports nearly one hundred
per cea,. on the increased costs OF pro-
duc,lOn, that taxes in The same manner
the great manufacturing and navigating
interest, that destroys The profits OF ma
lional industry, that decreases onI
exports, dapriyes ne of the foreign mar
keis for most ofthese exports, and d.
minishes The profits upon all, and sur
renders the domestic market for almos
every prodact or manufacture Of tore'gr
countries, having a better and sounde
currency than our own, And all fO
WHAT To increase the nominal ficu.
, lious prices Of sales upon paper credit
Eeveu whilst tho system enddres without
shock; but producing over importation
here, from our inflated places and di'
minished export, creating just as cet'
tainly demand for the precious metals
from abroad, TO lquidate that balance
thus created there, for which Our banl
bills are not receivable, and producing
periodical suspensions and convulsions
and wide spread ruin. And 10 wha
endl Why, tbata few bank stockhol'
!ers, less than one TO one hundred ant
iifiy of the people, may reap in idlenes'
enormous profits, by substituting tbei
Fictitious paper credit in splace Of th'
constitutional. currency Of gold and ell
tver; and let It be remembered, that whei
one Of these convuleioos comes, The de-
mand from abroad for the precious me-
tales strikes down at once at least two
tairds of.he currency OF The country
the bank expansion being at least al
three 10 one Of paper for every dollar o
-pecie-and the contraction being o
course required to be in the same ratio
10 maintain the proportions of the sys'
lem. And le. me say to al who propose
TO remedy the evil by high tariff, tha
hey never can or will succeed; and
they dld enact such law, it could no
and would not be endured; an d if il wer'
tihe bank paper syetsm would soon coul
l4eract 10 them all it's supposed benei
cial conseG Guences. 1t would stil fur
,her diminish our exports, still NOR
seriously depress the profits upon thei
sale, and, by impoverishing The South
deprive the North Of the only mafke
Ito which, under the bank paper system
Ithe North could look for the sales o
their manufactures. If the North des
: troys Ithe South, they will ruin thei
best, almost their only customers, an,
ultimately overthrow their own prosper
lily; but by abandonding the bank Pape
' system, all the great interests Of th'
whole country will DO permanently an
wonderfully promoted. This paper sys
0 fem is, in fact duty levied upon export
for the benefit OF no interest whatever
; i is a duty 10 the increased expense o
production, equal to the cotton planter
; 10 a forci5le seizure Of a. least thirt
! = bales out of every one hundred Of hi
crop, and is more pernicious even tha
b Al ol:u,,. .o.;Toc 1212 and with N