Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1844-10-26


merely because there NAV he reason to believe
that other causes are in operation tending 10 pro-
duce the same effect. Two diseases may prey
upon our vitals whose combined action produces
oeaih ana surely no one can be So perfectly en-
shaved ny his prideto his prejudiceS, as To contend,
that because he had discovered a SYMPTOM OF one
maiady, the most nncqrirocal evidences OF an
DINER should he rejected as iallacious and decep-
tive. would easily imagine learned phys-
can, adopting the mode of reasoning commended
for by an experienced merchant, examining a
man who had been shot through the heart, and
with all the gravity which characterzes those
who speak from their peculiar qualifications as
serting roundly. that the man received no vio-
fence, the ball did him no hurt, for his skin ev-
IDENTITY indicated an over-supply OF bile, and that
he had told the Editors of the Richmond Wing a
month ago that the man was certainly bilious.
This seems TO bethe position in which "Tucka-
hoes" mercantile experience has led him. For,
II the fact be admitted on which he relies that the
markets of the world have been oversupplied
since The Tariff OF 1872 he still rejects deduc
ton, in which he does not pretend 10 have found
an error, and dSresards The testimony TO be
gathered from the uniform operations of trade for
whole generation: preielring 10 take Tor his
guidance SrpPoscd fact, inadequate. il true,
10 support the position he assumes. Admitting,
Tor the sake ofargument all tor which he contends,
il can prove nothing more than that an over
supply has produced decline in the price OF to-
bacco since the present Tariff was enacted with
out satisfying us that it has been adequate 10 pro-
duce The dote decline thich has taken acc or that
fair price could have been obtained if The over
supply had not existed We are not enlightened
as 10 the effect of the ball without The bile. The
over-supply since the passage of the Iariif IS an
CT r'oa taet0 justification of the Wing party for
! the restrictions il has placed on commerce, IL
which il is not entitled For, we have the decline
aiterhe Tarifot 1924 the further decline after the
Tariff of 1923, the rise when the modified Tariff
was in operation in 1893, the further rise during
| the first four years of the Compromise Act and
the still further rise during the last four years OF
the Compromise, supporting the principle have
/ laid down. Now, | ask, what cause was in ope-
ration producing this effect? a careful inveS'i-
CATION suggests noihin" To my mind but the Tariff
regulations which have been in operation; and
when find that every restriction on commerce
has been markedly lis appropriate effect, the evil
dencc is sufficient 10 convince me OF the truth Of
Il deduction, which seems 10 be legitimate More
especially is this the case when TO concentrating
testimony has been adduced; and see causes in
operation tending bu, Intellectually 10 conceal The
truth which stands 81 prominent on our >taistl-
have an effect on The price OF tobacco, as well rs
other articles oira,c and iraic-an eiec, which
cannot be determined with any degree Of certain
" when other causes are in operation producing
the same or contrary result A long chain o
facts and circumstances, TO I've gathered from
extended statistics furnish the only data for a
correct conclusion. Looking TO number Of facts
gathered from the history OF the tobacco trade,
see all the irregularily OF the supply failing te
produce lis natural result, which is a sure er
dencc that some cause has been operating inu
encing iIregularly. the effective demand, and ex-
hibiling the phenomena of diminished supply
unattended by an increased price, and an incrcas
ed supply selling at an advance. This show:
the existence of some cause al work influencing
the demand maxim. il greater al one time than
al another, and having its appropriate effect OF
prices.
am perfectly aware Of the established principle
mentioned by ''Tuckahoc," in his article addressed
10 the planters Of Virginia, that the relation be
tween the supply and demand regulated the prize
OF tobacco, as il did the price of every thing else
But also know that both The demand and TN
supply may depend upon legislative enactments
The demand for tobacco cannot be SO llrm ant
fixed in Europe, that the restrictions on commerce
cannot alter il. mere naked desire 10 purchas,
is OF no avail, unless accompanied with the abili
" 10 purchase The desire accompanied witt
the ability 10 purchase, i the zeal effective de
mand which Influences the price of all articles
and anv legislative action which impair> The iunC
at the disposal OF people, must weaken the de
mand, and injure The market, which The consump
ton OF that nation affords. The rapid incrcas
in our exports OF tobacco, under the operation u
the Compromise and The rapid increase in In
value as exhibited in The tables already published
both by myself and the Committee OF the Demo
cratic Association, prove, that something was II
operation tending 10 increase the foreign market
The average export per annum during the hrs
four years Of the Compromise, was 9So0l hhds.
bringing into the country an average OF $3.50,
0l3 an amount greater than the smaller crops eX
ported under the former protective regulations
The average export during the last four years o
the Compromise was, III ,723 hhds., IAN increas'
OF 1921 hhds. } averaging S9,9i635S, ian in
crease of 81 ,3i3) This shows that, durin!
that time some cause had cytende,! the ioreigl
demand, until there was better market for | |,
125 hhdS. per annum, than there had been former
Is for 9S00l hhds. Then we have Ia inquire
whether our legislative enactments by remorin:
the restrictions on commerce, cxerci any in
huencc in producing this result. To guide II
in this investigations we have not only deductions
from principles admitted by all parties, but con
current testimony as 10 the operations o, trade a
different times. If we should attribute this resul
10 any thing independent OF our Tariff regula
lions, we will find it impossible 10 reconcile fac
and theory IT. for instance, we should aurihu,
this increase of the market 10 a natural ncreas
OF the markets, independent Of all regulations
the facts could not be tortured into such u form a
to sanction The conclusion. Take, for instance
the sales of tobacco in foreign countries sine
1883, and they entirely destroy the inference. MI
Gray, in his communication in the Wing OF III
23d instant, gives the quantity on hand for nun
| Der of yeals on the 3lst December in each yea
BIZ adding 10 the export of each year the amour
on hand at The commencement of the year, AM
sublracting from that amount the quantity o
hand on The 3lst December, we obtain the GUAM
ly sold in each year. The estimate for the las
quarter of 1919 is made by supplying it al 1000
hhdS more than The quantity OF The first TIRE
0uartprS.