Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1847-12-24


DIS If the annual value of at least $500 00o'-
600 among our 81 millions of people; whist
nur total exchanges, including imports. ana
exports, with all the world besides. containing
a population of thousand Millions was iaS'
wear $305, 194,26O, being an increase s.nce
the new tariff over the preceding year VI T'o'-
OI4,647., Yet the exchanges between our
States. consisting of population OF II null
ions, being of the yearly value OF 100000
600 exchanged make such exchange in our
own country equal TO S2381 per individual
annually of our own products, and reduces the
exchange of our own and foreign products
(our imp orts and exports,) considered as s3o0'-
100000 with all the rest OF the world 10 ihe
annual value of thirty cents TO each lndViou-
al That is, one person o. the Union receives
and exchanges annually OF our own pfooucls
as mnch as 79 persons of other countries
Were this exchange with foreign countries
extended to ninety cents each, it would bring
our imports and exports up to $900.00O,O0O
3uer anhum, and raise our annual revenue from
duties to a sum- exceeding $50 100000 An
addition of thirty cents each to the consump-
ton of our products exchanged from State to
State, by our own people, would furnish an
increased market of the value only OF So
100000; whereas an increase of thirty cents
each, by system of liberal exchanges with
the people of all the world, would give rs a
market for an additional value of S3O0,00O,-
900 per annum of our exports. Such an adj
dltlon cannot occur by refusing to receive IN
exchange the products of other Nations, ana
demanding the 100000, 900 per annum IN
specie, which could never be supplied. But
by receiving foreign products at low duties IN
exchange for our exports, such an augmenla'
ton might take place. The only obstacles to
such exchanges are the duties and the felghts.
But the freight from New Orleans to Boston
differs but little from that between Liverpool
and Boston :; and the freight from many points
in the interior is greater than from England to
the United States Thus the average freight
from the Ohio river to Baltimore is greater
than from the same place to Liverpool yet
the annual exchanges OF products between the
Ohio and Baltimore exceed by many millions
that between Baltimore and Liverpool. The
Canadas and adjacent provinces upon cur bor-
ders, with a population less than two millions,
0 exchange imports and exports with US less IN
amount than the State of Connecticut, with i
population of 300, 900; showing that, II these
provinces were united with US by free trade,
our annual exchanges with them would rise
to SAL, 900 900 1t is not The freight, then,
that creates the chief obstacle TO nterchanges
of products between ourselves and foreign
countries, buP the duties. When we reflect,
= also, that exchange of products depends CHEF
= ly upon diversity-which IS greater between
our own country and the rest of the world
than between the different States of the Union
under system Of reciprocal free trade with
all the world, the augmentation arising from
greater diversity of products would equal the
dimnution caused by freight Thus the
southern States exchange no cotton with each
other, nor the western States -four, nor thu
manufacturing States like fabrics. Diversity
OF products is essential 10 exchanges; and !
England and America were united by absolute
free trade, the reciprocal exchanges between
them would soon far exceed the whole for
eign commerce of both; and with reciprocal
free trade with all nations, our own country
with its pre-eminent advantages, would meas
IRE its annual trade in imports and exports b,
thousands of millions of dollars
In my last annual report, and that which
preceded, it was proved that the home marke
was wholly inadequate for our vast agricul
tural products. We have long had for grain
and provisions the undivided markets OF on
own people. But these are not sufficient; an'
in single year we have, with abundance O
food retained at home, supplied the WORT
with an addition at once during the last year
as shown by table AA, of S41 1892 ,2e2 in val
ue of breadstufs and provisions, bringing tn
value exported that year up TO Sos ,906, ga
Our manufacturers could not have consume
this surplus, or their non consuming machines
which are substituted in their workshops 10
the labor of man. If the energy of our ow
people can add Sal 1892 ,2S2 to the export an
supply of our breadstufs and provisions in
single year, what could they not add to sue
products if they enjoyed free of duty the maj
kets of the world? By. table BIB, it appear
that the augmentation of our domestic exports
exclusive of specie, last year, compared wit
the preceding year, was 1856 ,802, or uI
wards of AZ per cent and at the same raj
per cent per annum of augmentation, woul
o. amount in 1849, per table &C, to 1929 $50 so;
cI much greater than the domestic export frol
State to State (See tables from to 2 inch
sive.) The future per centage of increase ma
o not be so great; but our capacity for such II
creased production is proved to exist, and TIL
we could furnish these exports far above II
domestic demand, if they could be exchange
free Of duty in the ports OF all nations.
The energetic American freeman can al
does perform far more effective labor in
day, than what is called by the restriction
lists the pauper labor of Europe; and, Their
fore, the employer here can pay more for
day's'toil to our workingmen. Measure
by the day, the wages here may be high
than in Europe; hut measured by the VOL
done on that day, there is but little di
ference. And when all our capitalists f
some already have) shall find it to be their tn
interest. in addition to the wages paid to Il
? American workman, TO allow him voluntaril
because 1t augments the profits of capital,
fair interest in those profits, and elevate hi
to the rank of a partner i'll the concern,
} may then defy all competition. This is I
same principle illustrated by uniform expe
ence, proving that he who rents his far
builds his house, sails his ships, or condut
any other business upon shares, realizes t
largest return and that he who works by t
Job produces more in the same time than /
lahorer whose wages are paid by the day
Q The skill, energy, and industry, the intert
and pride in success, the vigilance and per.
verance that will be manifested by our intel
gent workingmen under such system, W
far more than refund TO capital such reason
bic participation in its profits, and enable su
American establishments to supply all the
tons OF the world The introduction of 4
system will be voluntary, because it is NJ
Just and beneficial to all parties. II is the p
tIclpat'on OF all our people in the governme
that Is one great cause OF our prosperity; a
the participation of our workingmen in
profits of our Industrial establishments wor
exhibit similar results. Our whale and OIL
6-bo 0roeaDf c{rODc