Gallipolis journal. [volume] (Gallipolis, Ohio) 1837-1919, 1854-03-02

VIII CuoDlC tLlS IOdu W NoiAI 90 OuCop,
if not cheaper, than that road. The
price of freights from Cincinnati to New
York, by the Northern route, is said to
be from 81 25 to 81 0per 100 lbs
Flour is, however, usually carried at a
less rate per 100 lbs. Why then is not
this route, even to New York, as cheap,
iif not cheaper, than any other? Again.
Wheat, on the Ohio river has been
worth, during the winter and fall, from
IS cents to 81; it is now worth 81 95.
In this city it is worth Sc. Can it cost
rs cents to bring ..bushel of wheat
from the Ohio river to this city? Why
should not Richmond millers bring this
wheat here to be ground? Business
men will best understand this matter.
can merely call attention to it.
Again: why should not Ohio produce
be shipped directly from Richmond and
Norfolk to Europe? This is now an i'm
mense business, and is yearly increasing.
Baltimore talks of a line of ocean
steamers thence to England; if such a
line will pay from Baltimore, will it not
pay better from Norfolk? Vast quanti-
ties of beef and pork are put up in Gin
cinnati, expressly on English account.
Why should not this pass by this route
to England, instead of going to New
York? The vessel that is to cnrry it,
can be reached at Norfolk in distance
of 200 miles less than the distance 10
New York, and at much less cost.
Again: Virginia has the capital to
compel portion of it. Western pro-
duee is always bought up by Eastern
capital; the West has not the capital to
do it. The buyer .arranges with an
Eastern house, to advance him means,
by giving their acceptances; these are
discounted; the produce bought, shipped
to the acceptor; he sells, re-imburses
himself for his commissions and the
loan of his name and capital; and thus,
the Eastern capitalists and Western
buyer divide the profit between them;
while, if loss occurs, the capitalists is
first to be paid, and the loss falls on the
Western purchaser. Now, is there not
capital and credit here to do the same
business? The Banks of Virginia might
with perfect safety circulate $1,000, 900
of their paper in Southern Ohio. Ohio
has only some s7,OOo,OO0 Of banking
capital for the whole State; hence for
eign paper constitutes more than one
half of her circulation. Her trade now
tends towards New York for the want
of any other outlet; and Eastern paper
is everywhere found largely infused into
her circulation. The paper of the
Banks of Hartford, New Haven, and
other places in New England, is scattered
broad cast over Ohio, and, from neces-
sity, circulates freely; being employed
to buy up Ohio produce. Once Virginia
paper constituted almost entirely the
only foreign bank paper circulating in
South Eastern Ohio. 1t would now be
preferred to this Eastern paper, but it is
not to be had. All trade in this direc-
ton is cut off, and with it the circulation
of Virginia bank paper. Why should
not Virginia employ her bank paper,
her credit, to engross her share of this
trade and of this circulation and enjoy |
the profits incident to it? Here is the
natural outlet for this trade, and why |
should it not come here?
Let Virginia shape her policy to OBJ
tain it, and then promptly put herself in
a condition to complete it, and the cities
of Richmond and Norfolk will feel its
life-giving effects. There can, as to this
trade, be no rivalry between these two
points, any more than there is between
Albany and New York. The export
trade of Richmond cannot be doubled
without Norfolk's sharing in its profits.
Large vessels cannot come to Richmond,
and freights for foreign shipment must
be loaded elsewhere. When once put
on a smaller vessel, tow or steamer, it
can be carried about as cheap to Norfolk
as any nearer point, since the handling
is to be the same. To an unprejudiced
mind there can be no uncertainty on this
question; it is for the interest of Norfolk
to bring into Richmond freight for for
eign shipment; it, therefore, appears
strange to locker on, to see the two
cities, acting as though their interests
could be antagonistic. They are identi-
cal; what increases the export trade of
must increase that of Nor
folk. Hence, it is as much the interest
of Norfolk to press through the Coving-
ton and Ohio road with its Ohio connex-
ion by the mouth of the Big Kanawha,
as it is of Richmond; nay more, because
this connexion viii be the creation of a
foreign export trade, which will proper
benefit her more than Rich
mOnd.
The extension will greatly add to the
value of the other works of Virginia.
This vast trade of the West must add to
the freight, which is to pass over other
roads of the State. The income of the
James River improvement and that of
the Central road would be doubled by
this extension of the Virginia railroads
to the great valley of the West. Is this
a matter of no moment to- the people of
Virginia, considering the great amount
she has invested in public Improvements?
improvements, which at present are
local, but which become national, the
her Central road is driven for
ward to the Ohio river and an Ohio con-
y