Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1851-10-03
The balance of Trade.

Although as between this country and Eng land the
balance of trade is permanently and largely in IA
vor account of the heavy shipments of cotton and
breadstus to that country, yet find that exchange
in London is frequently at premium, and that spe
Gle is shipped to settle balances there. The New
York Evening Post, paper which stands among the
very first for the TRUTH intelligence and wisdom of
its money articles gives the following explanation:
"Thcrc are many important and increasing bran
chcs of foreign trade, in which the balance is always
against us. The teas and silks of China, the silks
and millincres of France and the productions of the
north of Europe come to US in much larger quanti-
tics than any exports of ours to those countries In
years long ago it the custom of the East India
ships clearing from Salem for the east to carry out
large quantities of silver-Spanish dollars mostly
to pay for the teas and other articles brought home
Our exports have since increased, but our imports
have still more largely increased for the consnmp-
ton of tea in this country is immense The balance
of this trade is settled in London, which is at pre-
sent, whatever it may be in aftertimes the banking
house for the settlement of accounts from the worlds
commerce. To provide for the payment we have to
remit thther the necessary funds either by exports
or gold or other produce
1t is a mistake to talk about the country being
ruined by British goods; the great balances are ac-
cumulated by the heavy importations of French and
German silks and fancy goods.
1t is contcnded by some that increased tariff, or
rather return to the system of 40, would benefit
the South, at least the portion of it engaged in
F manufacturing. Now, comparison will show that
the distinctive characteristic of the tariff of ~
heavy taxation of the more common and necessary
articles of consumption, and light taxation of the
luxures or superhuites such as fine silks and higt
priced wines. In the production of the heavier cot
ton and wooden fabrics which at present constitute
| Al &C
e are the Eastern States, not the European nations
and increase change of Tariff could only hay
the effect of making all articles of southern manuac
ture still dearer to the people of the South, and
under the control of the North.
= Great Fire In Buffalo, N. York.-Dcstruction of so
n Houses and half million of property.
About four oclock on the morning of the 25th inst
o. fire broke out in a wooden building on Peacoc
street. Buffalo, situated in the very middle of what
" called the Five Points. strong wind was BLOWN
at the time and the surrounding buildings the fir
spread rapidly not being stayed until had destroy
t ed over FIVE hundred buildings, chiefly occupied b
poor families who thus turned out of house an
p home. The loss is roughly estimated at half a mil
lion of dollars. There very little insurance
70 the property
is BI~A Plank Road meeting was held at Barclays
vile, between Fayetteville and Raleigh on the got
IL inst, and $4,000 subscribed to the joint stock con
L. pany, for plank road between the two towns.
st Mr. GUEss' ScHooI.-Mr Guess School con
d menced Isl inst. We had intended to have called
ention the fact of lis opening at this time. sene
1t but ii escaped memory in the hurry OF bushes
IN We hope that Mr. Guess will receive that liberal Ell
lcouragemeni which he deserves