New-York daily tribune., 1844-02-24
Business In the West-Louisville-He

Correspondence oil The Tribune.
LOUISVILLE, F-b IL lsii.
The Merchants Of this City are making ample
preparations for the Spring Trade, and they cx-
pect a very large one. The year 1912 in this
State closed in the deepest gloom. The Legis-
lature met the last of December in the midst cf
cries for relief from all quarters. Serious fears
were apprehended, and had been apprehendcd
throughout '42, that stay and valuation laws, or
a charter for another Commonwealth Bank would
be passed. But the Louisville Journal boldly
denounced all such laws as dishonest and disas-
trous and it is generally believed that the fear of
its righteous but terrible chastisement saved the
Commonwealth. Be this as the Legislature
adjourned without having done any mischief, and
the minds Of men being freed from all apprchen.
sion from this quarter, that confidence every where
We had sound Banks with ample capital, and men
of enterprise were not wanting. A cash business
was resolved upon, and in order to sell for cash
they must sell cheap, and in order to sell cheap
and at the same time make money, large stocks
must be brought forward. This was a bold step !;
but there were few dry goods in the country, the
crisis had passed, and the Wing Tariff held out
its bright promises. Our merchants went into
the Eastern markets with cash, they bought ex-
ceedingy large stocks, they adhered to the resolu-
ton to sell low for cash, and they were success
full Louisville trade, especially in the dry goods
line, at once revived, and the number of her Gus
toners increased far beyond whatit had ever been
before They bought more sparingly, bat their
number more than made up for this. They came
from every part Of the Mississippi valley, but
especially from Kentucky, Indiana, Illinois, Mis-.
souri,, Tennessee, Mississippi and North Alabama
TO pet on to Cincinnati or to the Eastern cities,
dealers must pass through Louisville, and there
were few or none that stopped to examine this
market that did not make their purchases here.
1t it well known every where that Louisville
is the principal depot of groceries on the Ohio RI
yer. This she must necessarily be from her posi-
ton; but there was nothing like the same increase
last year in the grocery business as in the dry
goods line. The Western people must have tea
and coffee under all circumstances, and the con-
sumption even of whisky fell off in the hard times
much more than that of coffee and tea. The
great falling off in the consumption of whisky was
due as much to forced economy as to the Tenn
perence Society.
The position of Louisville is admirable for the
building of steamboats,, for the manufacture and
sale of engines, machinery of all sorts agricul-
tural implements, &C. Of the 100 steamers built
in the West in l843, 35 were built at the Falls Of
the Ohio The finest and swiftest boats in the
Ohio and Mississippi trade have been built in
Louisville. The business and number of her
foundries have greatly increased within two or
three years. Much of the pig iron used in Gin
cnnati and Pittsburg comes from Tennessee, and
must pass through Louisville. Nails and rolled
iron sell here at precisely the same price as in
Pittsburgh, giving us the advantage Of the freight
In the manufacture Of Cotton, Louisville has
like advantage-the raw cotton passes by her, and
it must come back to her when manufactured, for
distribution. The business of plough making and
of agricultural implement making has vastly in
creased within two years.
Hempis getting to be an article Of very great
Importance in the West. Untillast year, its use
was limited to the manufacture of cotton bagging
and bae-rope, nearly all being manufactured in
this State; but last year large quantity ofwater-
rotted and dew-rottcd hemp was shipped to the
East, there to be manufactured, much of it into
ship cordage
The history of water-rotted hemp powerfully
illustrates the efficacy governmental protection
The people here have always known that hemp
thus prepared would command three or four times
as much as the dew-rotted, and that the cost of
it's preparation was but trl1e more. They knew
too that large quantity of such hemp was con-
sumed in the merchant service as well as
in the Navy. But it was not until the Go
vernment held out positive promise to purchase
American water-rotted Hemp, if offered as good
and cheap as the Russia, that the enterprsng Far
mers of the West embarked in the business 1t
was in the year l042, that that promise was
made, and the ensuing fall and winter more than
twice enough to supply the National Ropcwalk
for year was prepared. Much of it was excel
lent, but the Government did not comply with its
promise to establish Hemp Agency in the
West, and most of the water-rotted Hemp was
sold in the West to the Bagging manufactu-
rers. This discouraged the Hemp p-growers and
last fall but little Hemp was water.rotted. How
ever, considerable quantity of that prepared in
1912 found its way into the New. York and Bos-
ton markets towards the close of 1o43 !;
and now the character of American water-rotted
Hemp is SO well established that the business
will beyond doubt go on largely another year
The false promise of the Government to take our
Hemp has wrought this effect; but if three years
ago the Government had begun in real earnest
to patronise American Hemp, there would have
been more than enough water-rotted in l843 to
supply the demand in the Naval and Merchant
service. People adopt new processes, new modes
ofindusry, reluctantly-they seem always to re-
quire to be led on by the Government. 1t is not
enough that the new process promises large
profits.
1t gives me great pleasure to assure you that
no where is the doctrine of Protection more pop
ular than in the West II ENGLAND is the natural
market of South Carolina" New-England is the
natural market Of this vast Agricultural region.
Time was when the West sold large portion of
its provisions to the Cotton planters, but this is
no longer the case The Cotton planters now