Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1842-06-11
The following is copy Of the Memorial:
TO THE SENATE AND HOUSE OF RE
PRESENTATIvES OF THE U. STATES.

Peisrsburs and 10 rfciHify, Virstnia,
RESPECTFULLY SHEwErH-
That some OF them are Stockholders in the vari-
Gus Incorporated Comp mics for the manufacture of
Cotton goods in the said Town and its vicinity many
oil them are IN other respects materially interested
IN the prosperity OF those establishments; and al
OF them extremely solicitous for their success.
A large amount Of capital has been invested in
them; the welfare of numerous portion Of our
People is materially dependent on them; and their
/ fate is destined, believe TO have n mos, i'm
| portant influence, either for good or evil, on our
! whole community. The first and oldest OF the va
rIous Cotton Manufacturing Companies lncoepora-
/ ted IN Virginia, was chartered IN 1929, and com.
menced its operations in this place in lS2S. There
are now IN the Town and adjacent Immediately 20
1t five others, Of which the following statement ex
hibliS their capitals and other particulars relating
| them:
Six Cotton Manufactures Incorporated: the
Petersburg; the Merchants; the Matoaca; the Et-
tricks the Mechanics; and the Balierses; and two
private Companies;
Their united capital sl,9OO,OOO
Number of Spmdies 25ION
DO OF Looms 72l
Do OF Yards of cloth which they
can make per day 2O95O
10 of White operatives employed LILO
DO of Persons deriving support
from the Factories $3.50
agreeaby TO the statements o. the different Agents.
The amount OF capital invested in these Insttu-
tons, besides some private ones, the number OF
persons who ind employment in them, and derive
support from them, the large quantity OF goods which
they manufacture, and the ready market which
they afford Tor many OF the Agricultural produc-
tons oil the neishboUrins country, arc circum.
stances which would render their downfall wide
spread public disaster. But without some essential
change IN the Governmental policy or the general
condition OF the country, that calamity many OF
them, must, 1t is feared, inevitably take place
so long as the duties on imported Cotton goods
were adequate TO supply the necessary revenues TO
the Government, our Cotton Manufactures gene
rally were IN n prosperous state; furnishing far
proht on the capital invested ~ them liberal com
pensaion for the labour employed al them, and a
cheap and abundant supply OF the various goods
manufactured by them. During all this period none
complained OF the high prices of those goods or OF
their quality or unsuiabiity TO the wants of the
People. On the contrary, they obtained very gen.
eTal concentration for the moderation of their price
and the excellence OF their fabric. All were con-
tented and all were prospecting. But when, under
the operation Of the Compromise Act, the duties
were reduced TO the present low rates, foreign
manufacturers were encouraged Ivy low duties, and
prompted partly by the uniavourable condition of
things in their own country, md partly by the
strong interest which they have TO destroy their
formidable rivals IN this, TO bring into competition
with ours, such large quantities Of their foreign
goods oil various descriptions, that while the prices
are not materially reduced, there is absolutely no
demand and no market for the sale OF our manu-.
lectures. Depressed the prices of every thing
IN the land, PROSTATE is every branch of Industry
oJr anufactoiss could still carry on their opera
TONS afiordIng very low profits TO stockholders but
giving conSiont employment TO abour and adequate
reward TO industry, and furnishing a steady market
tor The sale OF many OF the products OF Agriculture
But the grievance under which suffer IT, that our
own domestic markets are taken away from US and
we are unable to sell, any where or OF any price
the goods which we manufacture. Hence the mum
Der OF manufacturing establishments in different
parts OF the Union, which have entirely discontinued
their operations; and the greater number which VIC
apprehend are destined to a similar fate. The gen.
era circumstances of the country, and the condition
OF our people, are such, that there must be- not on
~ an adequate but speedy remuneration for Ia
Oour, no matter how II may be bestowed or employ
edi and from the very limited means which we had
TO establish our Manufactures IL is impossible for
them TO furnish that timely remuneration excent bv
prompt sale Of their productions. The Incorpora
TED Companies Of this place, al any rate Whatever
may DC the case elsewhere. do not consist Of CAPT
nlists unless TO very limited extent, both as TO
amount and IN numbcr-They were formed chiefly
with view TO the general advantages which were
expected to result from their successful operations
IN providing profitable employment for the abour-
log classes, and IN augmenng the trade, business
and capabilities Of the Town. In proof Of this we
refer TO the fact, notorious here that the capita
have always been raised IN subscriptions of small
amount, and that the Companies have been almost
constantly IN debt.
Manufacturing establishments thus situated cal
not even IN prosperous times, subsst without
speedy sales OF their goods; but IN a period OF
adverse circumstances, they must either close their
! operations or become bankrupt II Is not there.
fore the want Of high prices which induces us TO
appeal to Congress; It IS merely thnt we may have
| the use and privilege Of our own markets for the
sale OF our productions. We ask this, not TO iniure
| any portion Of our csuntrymcn, Tut as n mere
preference for our domestic establishments md
Ia NU9r n ala
plupers. II Is we'll known that most OF the manu-.
factories OF Europe are the property Of large
capitalists; and that they arc worked by operatives
who for tho most part, obtain for their labor bare
support such one, IN many instances, ns our
slaves could scarcely be induced or forced 10 sub
sist ut on Or submit to. The propnetors cam under
such Giro instances, afford IN await the result of
ardy sales NJ their goods here for, having the ex
elusive benefit Of their own markets, where they
can always sell enough TO pay ordinary expenses
/ their large and substantial capitals will ennble
| them Ia lorbear, Tor the sales which may be mazda
! m the United States. Independently Of other mo
| lives, they have the strongest inducomcnt 10 do So
IN order 10 destroy our youthful establishment e.
and ehectunlly 70 PROSTATE them as competitors
| Without materially reducing the prices the mere
fact TINT they have large supply in our market
dminishes, by dividing our sales; and their nbilty
TO allow on longer credits than from our limited
means We are able to nhord gives them the most dc
| cided Advantage over us, IN our own markets Ir
i thH WuYf uWI Manufacturing ClVtnl % impaired.
Iifgc portion NJ ~, fear, viii Ibo irrotfievaby
sunk, our tailoring classes ore impoverished, by
inability 10 obtain reward for their industry: anc
our country 81 dfnnod n its specie, To pny debts
contacted by our mofchante, 10 foreign minufactur
ere. And this system At policy ~ advocated and
sustained, by those who are oudost m their denun
cntons Of foreign capitol and foreign capitalists anC
reprobote the idea Of employing either NJ them IT.
our country, for the most important purposes or ~
our drost need: by hose who declare themselves III,
hrmest and most nnoxiblo advocates of our com
plete exemption from all dependence on foreign M
lions; aud vet they would render MS unable 10 SUP.
ply infancy add old age, with their necesspr,
clothing. except from Europe Ivy those who CLAIM
IN he the exclusive friends II the poor laborer
and yet they would drive him from The homo Of IN
forefathcrs, and the occupation IN which he ha
been reared up. They tell him 10 abandon these
and break up The comforts and contentment u
which his family have lived and go 10 the far Wesl
, IN which he may become n sgustler upon Govern
ment lands without price; and then, indeed, no wi
become, truly and equally, virtnous free, and in
Dependent; and, like the Indian, 10 whose place
' has probably succeeded, under no Obligation
q capitalists for employment, and with no need Z
o manufacturers Tor hs use, but happily berelt Of l
evils q both. Asf hwsre justice and sound polio