Martinsburg gazette. [volume] (Martinsburg, Va. [W. Va.]) 1833-1855, 1844-07-18

WIN PothiNo uhb NV "hOiG
TIE great law which regulates the pri
ces accommodates, is that ofsupply and de
rnand. Ii the supply exceed the demand
the price falls; If the demand exceed tht
supply the price rises. This law viii b.
found to be invariably true. Any aug
meniation Of supply is beneficial to tht
consumer; but, by establishing manuf4c
lures in the United States, an sdditlona
supply is created. Again, another prln.
ciple. universally admitted to be benefi
cial TO consumption. is, the principle o
competition. If Europe alone supply th'
American consumption of manufactures
Europe will enjoy monopoly in that sup
lpiy. That monopoly, Il IS true, will b.
subject 10 the competition which may ex
ist 10 Europe; but it would be still resiric.
ted to that competition. BY the existence
OF manufactures, 10 the United States, ar
additional competition is created, and this
new competitor enters the American mar
ket; contending for it with the prevou:
European competitors. The result is, ar
increase 10 the aggregate Of supply and
consequent reduction in price. But il
has been argued, that the fabrics manu-
featured in America take the place only
of so many which had been b fore manu-.
featured 10 Europe; that there is no great
er consumption in cons quence Of the
home manufacture than would exist with
out it, and that 1t is immairrlal to the con
sumer whether the theatre OF manufacture
be Europe or the United States. But
think this is al extremely contracted and
lalIacIous view ofthe subject. Consump.
ton is greater in consequence OF the exist
ence of manufactures al home. Tn y
create demand for labor, which would
no, exist without them, and the employ
ment OF labor creates an ability to con-
sumo, which would not exist without IT,
How could the American labor, employed
IN MANUFACTURES at home, supply its con-
sumption of European commodities, if II
were deprived Of that employment
What means OF purchase would It poss S.!
1t is in VAN to polnt to agriculture, for ev-
cry department of that is already produ-
eng er-abundanily. 1t cannot be
questioned that the chief cause OF the re-
dnced price of Cotton is the excess ofpro-
duction. The price of it would rise, il
less were produced, by diverting por.
ton OF the labor employed in lis cultiva.
ton TO some other branch OF industry
THIS new pursuit would furnish new sub
jecis of exchange and those who might
embark in it, as well as those who would
continue 10 the growth Of Cotton, would
be both benefited by mutual exchanges.
The day will come and is not distant,
when the South will feel an imperative
necessity voluntarily to make such d..
version of portion of its labor. Consd.
ering the vast water power, and other ia
elites Of manufacturing, now wasting and
unemployed, at the South, and its posses
sion at home of the choice of the raw ma
terial, believe the day will come when
the Cotton region will be the greatest
manufacturing region Of Cotton in the
world.
The power of consuming manufactured
articles being increased, IN consequence
of the domestic establishment of manuac-
lures by the wages Of labor which ttey
employ, and by the wealth which they
create, there is an increase also in the
use and consumption OF Cotton and other
raw materials. TO the extent of that IN
crease, the Cotton grower is directly and
positively benefited by the location OF
manufactures at home instead of abroad.
But suppose it were true that the shit,
ing to certain extent, of the theatre OF
manufactures, from foreign countries TO
our own, did not increase consumption at
all, and did no: augment the demaad for
Cotton, there would be no just ground OF
complaint with the Cotton planter and the
most ne could say is, that it woulI be a
matter of indifference to him. A u that
would happen 10 him would be. substllu
lion IF certain number of Anne lean
customers, for an equal number of Euro.
pean customers. BuI ought it to be, can
il be, a matter OF ind ference to him,
whether any portion o. his fellow citizens
in the United States are in state OF pros
perty or adversityl II, without prejudice
to him, his own countrymen can acquire
a part of tho wealth which arises out OF
the prosecution Of manuf curing indus
try, instead Of the foreigner, ought he no,
10 rejoice at il? Is it to him a matter oil
no consequence that a certain amount Of
wealth, created by manufactures, shall be
in his own country, instead Of being in
foreign countrlesl If here. lis influence
and effects will be felt, directly or indi-
rectly, IN all the departments Of human
business, and in greater or less degree
in all parts Of the country. 1t becomes a
clear addition 10 the aggregate wealth oil
the nation, increasing resources, and
forming basis of taxation and revenue
in seasons of war or peace, if necessary
But the advantage resulting from do.
nestle manufactures, in producing an
American competition with The European
competition, augnenting the supply o.
manufactured articles, tending consequent
y to a reduction Of prices, is not tn" sole
hdvaniage, great as that is. A double
mark I is pr duced roth il IN" purchase o
! {. brics for consumption, and ~ the sale %
p od1ct ons of Agriculture, Aud how su.
perlor is the home TO any 9th m ,rk-t IL
the conditions OF It's prox nifty, lis being
under our own control, aud It's exemption
( from the contingency Of war; Il hn,
1 been argued, however, that we sell nj
more than we should do il we were de.
( pr we'd Of the Hume market. | have
shaun that ia he n hprwIse The tmpOr