The Weekly register. (Ponola [sic] Panola, Miss.) 1843-1844, 1844-07-27

A double market IS produced both n
the purchase Of fabrics for consumption
and in the safe Of productions Of Agri-
culture. And how superior is the home
TO any other market in the conditions
Of lis proximity, its being under our
own control, and lis exemption from
the contingency Of war! II has been
argued however that VIC sell no more
than we should 10 if we were derived
of The home market have shewn
that 10 be otherwise. The Importance
OF opening new markets is universally
admitted. 1t is an object of the policy
Of all nations. If we could open a new
market for 100000 bales of cotton
with any foreign power, should we not
gladly embrace it! Every one owns
the benefit which arises out Of various
markets. All who reside in the neigh.
borho2d Of large cities or market towns
arc sensible Of the advantage. 1t is
said that our manufactures absorb only
about 100000 bales of Cotton, which is
very small part Of the total crop
But suppose that were thrown upon the
market Of Liverpool, already over
stocked and gluttedi 1t would sink the
price far below what il now is. France
consomes also about 100000 bales. If
the market OF EIavre were closed, and
that quantity were, crowded in the mar
ket Of Liverpool, would not the effect
be ruinous 20 the Cotton grower? Oar
American market is growing, annually
increasing, and, if the policy Of the
country can only become firmly fixed,
the time will come, have no doubt,
when the manufacture Of Cotton in the
United States will exceed that of Eng
iand. DO not desire to see any mar
ket close, domestic OF foreign. think
it our true interest to cherish and cult
waite all But | believe it 10 he our in
dispensable duty TO afford proper and
reasonable encouragement 10 our own.
But it must be borne ID mind that, al
though Cotton is BY far The most impor-
tant of our agricultural products, it is
not the only one. Where should we
find market for our Indian corn, if ii
were not for the existence of our man
ufac,ures? We should absolutely have
none. Ny friend Mr.. Pettigrew, who
sits before me, can find no market for
his corn in North Carolina, because his
neighbors, like himself, are occupied in
producing it. Nor can he fad any in
foreign countries. But he meets with Il
good, sure ard convenient market in |
Boston and Providence, and other
Northern captols. Where should we
seek a marke, for the -four provisions,
and other raw agricultural produce
now consumed by our manafactures?-l
Iftheir present business were destroy
ed, they would be employed themselves
in producing cotton, corn, provisions
and other agricultural produce, thus
the quantity and inevitably
leading to 4 further decline Of prices
1t has been coutended thatthe effect Of
affording legal encouragement TO do.
meslic manufactures is, TO enhance the
price Of commodities, and to impose a 4
tax upon tho consumer. This argu-
mont has been thousand times refn
ted.
1t has b2en shown again and again,
that the price Of almost every article,
on which the system Of encouragement
has efTec,ually operated, has been re
duced TO the consumer. And this was
the necessary consequence of that law
of supply end demand, and thai princi-
pie Of competition to which have be-
fore advertod. 1t was foretold long ago
by myself and other friends of the poll
cy. But il is vain that we appeal 10
facts. 1t is vain that we take up article (
by article, and comparing present with !
former prices, show the actualand grad
ual reduction. The free trader has
mounted his hobby, and he has deter
mined to spur and whip him on, rough |
shod, over all facts, obstacles and i'm
pediments that lie in his way. 1t was