The Portsmouth inquirer. [volume] (Portsmouth, O. [Ohio]) 1849-1855, 1851-11-21
Commerce.-Finances..

Z The financial and commercial article. in |
the Democratic Review, for November, is |
one Of unusual interest We have always
found these articles to be the most reliable,
Of any published in the country, excepting
those in the Merchants Magazine, and both,
we believe, are from the same author, one
OF the most capable and experienced stati-
clans incomme rcial and financial affairs, in
the United States. 9 =
Since the political revolutions Of l848 the
European governments, have expended large
sums of money, which have been raised by
loans and, to a considerable extent from
banks, Within the past year these conti-
mental, banks haye been engaged in strug;S
Egie Sof specie To redeem the large amount
Of outstanding paper. This fact, together
with an unusual state Of the English mar
kets, has been the main cause of the for
eign demsndfor specie.
Although, under the operation of the
present tariff, the imports have been large,
amounting to about 5000, 100000, yet the
exports have exceeded this sum by several
millions. "a very difficult state Of things
exists now, from thatof 1886. Taking the
three years 1884, '35, '36. the imports ex-
ceeded the exports Gill, ,7O5, $50; in the
years l849, 80, 81, the excess of imports,
from official data is $l5,34l ,1s2; allowing
for small profit Of not more than per
cent. on our exports and there will be bal
ance in our favor Of at least 100000 900.
We thus see how totally void Of founda-
tion is. the croaking we hear from whig
quarters, in regard TO the balance of trade
against this country. The fact is, the coun-
try was never in a more prosperous condi-
ton raking into view its great leading in
terests, at large. g 9
| AS a proof of ourAgricultural prosperity,
the returns Of produce at New Orleans, for
the year ending August 81, 1851, are larger
than for any previous year, by several mill
ions, notwithstanding the pasthas been a
year of low prices. In ls49 the amount at
that port was $S2,OOO,OO0, in 1850 it was
$67 100000, and in 1851 it is $lO7, 100000,
in round numbers. ~
= The great leading staple cotton, has in
creased in price since 1s43, SO as to make
the value per bale, the past year about doub-
lie what it was then. So that notwithstand-
ing the export Of cotton has not been larger
!, in weight, the returns have been doubled
q This increased price of cotton, together witt
!, the imports of cotton fabrics, has doubles,
cut down the profits of the eastern manu-
facturers, but the agriculturists Of the Soutf
and West have been benefited by it large.
: ly. .;ts ~ ,ss 4sH 4aI
u To this must be added the increase o.
cotton-manufactures in the South, where the
, lower price OF the raw material ard labo
: enables that section to supply herself will
some Of the coarser fabrics to more advan
tage than by buying of the east ALI thi,
howevefis of advantage to the west, as the
/ price of cotton fabrics is lessened, and the
southern market for our produce is in the
! long run as good as the eastern.
: What the West wants, with its immense
! bodies Of fertile land, its great navigabl'
rivers, and its spreading net work of rail
roads, is perfect freedom of trade. Let thu
markets North, South and East be open t,
J receive the products Of the soil, either 70
, home consumption or export, let there be
cheap transit, and let her buy in all thos,
! markets, at the lowest price all the manu-
factures she requires for consumption, lha
she cannot produce herself. Then shall W,
see the farmers increasing in wealth an,
: through them all other classes. Capital vii
. increase, manufactures will spring up an,
S by degrees, from population and capital uni
S ted, we shall find market at home for al
: the products Of the soil. This is the ma tura
course of things and dany attempt to alter o
8 impede it, will only be productive of evil
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