The Sumter banner. [volume] (Sumterville, S.C.) 1846-1855, 1851-09-16
N @. q
said, nbou. $4,000 bales Of cotton ior
CONSUMPTION. On fha Oh, 49,

snid, about $4,000 bales of cotton ii,n
Northern consumption. On The ,sf,ppo.
sltion that she imposes a duty lasao
houtessil 10 raise net revenue on iler rs
imports ga ], 900, 900, } Of Isl ,20ly, 600,
as suggested by Ruled i fa,e .s.u soi
imPosl would be required 81. d ul,outsJ1
l-2 per cent. Thisawill most fssareds
~ be counterveiled by reiaiiatory
duty: Of at least an equal amour On
South Carolina products. certainly SnS
her cotton. The only ifnngs1a i, ,e' dis.
suasve against such Retaliation IS if,st
the duty would have 10 bes paid al lens.
in part, by the Northern mana iacturer.
But this would present one 81 thnsa
cases in which the producer would nov
the impost exclusively. ifShe continues
the intercourse. South Carolina fur
nIshes SO small proportion Of the whole
supply, onc-ienth, for northeFn con.
sumption, that a duty of5this Kind must
recoil on herself. The loss Of ,hat por.
ton OF her crop would nor be felt III. 4 J,
restriction Of the supply. A dufys ysof
II l.2 per cent on northern productions.
would be equivalent to a reduction of
one cent from The price Of oil The COT,
ton sold by South Carolina for northera
use, provided, as we have suid, the in,
tercourse wos continued, on these terms.
Hut this is impossible. The effects ara
easily traced:
he motive from This fall ofcoIton.
for changing tho culture from cotton h,
provisions, with ,be raising Of s,ocI'
would be equal 10 the idducement for
making the change, operating On all
planters, large andsmall from enhance.
ment in the price Of Provisions, in con.
sequence both Of the new duty and The
distractions 10 commercial insercoursp
from political and social isolation, q,
This state ofthiDgs would inevitably
produce an extensive change in ihs dis
tribution Of capital, to accommodate our
system of industry TO The niteratisi, Of
circumstances. There can be nd daubt;
from combination Of these causes.
that our export trade would have Ia in1s
dergo readiustment, The ou!tisa,ios,
oi cotton cannot sis ma
same scalesi We
capl:hl sIlt itldslst
i
lily Of cotton, should 9e I'd isis Eli .,iir
own provisions, than, as Ne have aII,.
served, we can build ships Wi.noui aiv.
Ing new direction 10 our investments. :
II .!e", a largo number Of f N ,rfaSs i.
South Carolina change ,hcir culture
from cotton TO provisions, il might di.
mnish for export no less ti,anS,f,a ].
Whole Northern supply, $4,000 bales,
IN proportion to tho North TO our ceas.
ing 10 purchase from and sell ID 5il,ssgas
North those values which constitute
Inc present export and import trade.
would be the entailment Of that trade.
Such change of fiscal system, ifeYen
intercourse is measurably continued.
must, therefore, operate The most exten.
siye changes on our whole scheme ors
industry. These changes would again
react on the revenue system in wlliei.
they hnd their origin.
Suppose, then, in tho consumnasion
OF these changes, we diminish our ex
port OF cotton one-haIf or two.thirds.
firm what course would Ru,ledpe. in
that case, replenish The State ,rreasury3
From what taxable fund would he de.
rive his Sl,200,000 from imports. nd
ded TO 100000 from sdirec, taxa,ion9
The cessation OF intercourse VIII, ia,
North, and diminulion of. two. thirdsac
our cotton crop, replacing i, with ,ta
manifold productions. Of Northern ori.
gin, raised and manufactured hyn
selves, would leave lille more under
snch rate OF duty Us would no, force tl,s. !
emigration of capital, than is now rs
rived fiom direct tnsation. 81 + 81 900.
600 are required to be placed In tb,,s
State Exchequer, recourse must la hnd
If these supposilions are correct. rs M
increase OF the direct taxes. II is tf,,a
seen how totally Inadequate is ,ts scale
OF expenditure suggested by R,,leape.
as the price OF nationality, 10 the ia.
sources of South Caralina, unless ra..
sort Is had 10 such un aggraysiiot, OF
direct taxation as would be sure, Id sx.
pei capital in large sums, ffota tho ssssssIe.
II is no less obvious how Imperfect "a
any scheme of inance, The untitoss and
promoters OF which do no, examine tI,e
the results on .helpfcduesIs powers or
the Stale, with the reaction, os these
results onthe exports, imports and
revenues. 81 s9y ssiS 4 sS7s
,,.rScrr>~-c<< .re q ttsgSss ~
Ba,iis II, fhe United sstafes.--s'f he BSs,on
Bankers magazine gives Il table 3shoyyinr
the number, capital, and c6ndill llfisii Of tIin
banks in oil the Statos of the urion. Total
number OF banks sos; eigcuiaiian Sioo..
40i); specie; S31,4I6, GOO. capital, sssA,.
So, 900. Now York leads all other S,ates.
haying i5a banks, with tirouiasssil 81
SIS, ,0Oo, GOO while New York city has a8
banks, and S6,a00 600 circulation y.
= s.
BRIpGE CaRs,Ep Away, - We rcgyst To
learn that about one.ihird Of q s;siillilsn of
tho bridge in progress 4 of eressIon nscs
Brunswick River, FOR lie uss ef The viii.
mington and Manchester Rail Road Eompa.
ny has boon swept away by tho freshc, and
drift wood in orr aatess ss q understand
that this loss viii 30 speedily repaired and
that q better and sisnsger bridge will be
COrsfrUntas3 in