The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-10-24
Capitalization OF Commerce.


whole United States for the previous week.
In the meanwhile the first of these dispatches
which have come to hand illustrate beautifully
the gradual progress of commercial centraliza-
ton which is going on around us. Time was
when Philadelphia and Baltimore were consi
dered marts of part of the foreign trade of the
United States, and even in measure rivals of
New York. Where is their foreign commerce
now! Let the Custom House tables answer
WEEK ENDING OCT %.
Ssopo,ts Imports. Exports.
New York 07e,747 $3.50 092
Philadelphia ........... 1888 81, 500
Baltimore. 49,7S3 S24,OS4
Upon such figures comment is unnecessary
At this rate, one such ship as the Vanderbilt or
the Kangaroo would suffice to do all the trade
ofboth Baltimore and Philadelphia, by only
calling at either place once month Several
times this summer single Cunard steamer has
arrived at this port with as much cargo as ac-
cording to these figures, Philadelphia and Bal
timore receive, both together, in three months;
and as to exports, two or three steamers
ito say nothing Of sailing ships) clear from
New York every week, each with cargo as
large as the exports Of both these towns during
a whole month.
So the work Of Capitalization goes on. Phi
ladelphia is following in the wake of Perth
Amboy, which was once supposed to have
greater capabilities than New York; by and
by neither it nor Baltimore nor Boston will
have any foreign commerce at ALL As the BIZ
BILE says: ''To him that hath more shall be
given; but from him that hath not shall be
taken away even that which he hath"
The fact illustrates the folly of the specu-
lators, and local patriots who have been build
ing railways and digging canals terminating on
the seaboard at Philadelphia and Baltimore.
The Pennsylvanians, for instance, not csntent
with throwing an immense sum of money away
on an utterly unproductive canal, have latterly
built an enormous railroad all the way from
Philadelphia to Chicago. In like manner the
Baltimoreans have been extending their Balti-
more and Ohio road and its connections, in
order, as they say, to compete with the New
York and Pennsylvania trunk routes from the
West to the seaboard. just in the same way,
party of Englishmen have been spending i'm
mense sums on the Grand Trunk Railroad in
Canada, which, they assert, will compete sue
cessfully with the New York roads and canals,
and will build up great cities at Montreal and
Portland. Now, it is as clear as daylight that all
this money is thrown away and utterly lost
These various roads may and probably will have
acertain amount of way business among the re-
sidents along the line Of the road. But the
great through traffic between the seaboard and
the West must centre at New York, and must
consequently travel over the New York roads
and canals. No sane Western farmer or pro-
duce dealer is going to send his wheat or his
corn or his pork to Philadelphia or Baltimore
for sale when he knows that for dollars
worth of such produce wanted there there is
o hundred dollars worth wanted at New
York; nor, on the other hand, is any SEN
sible country merchant going to send
to Baltimore and Philadelphia for his goods
when he knows that New York receives in
fortnight as much foreign goods as either of
these cities in a year. Western men are
shrewd enough to send their produce to the
largest market, where there is the most active
demand for it; and to buy their dry goods and
groceries where these articles are most plenti-
full, and where, therefore, there is competition
among importers, and some chance of prices
being low.
We dare say that very few years will wit
ness the almost total cessation of foreign trade
at Philadelphia and Baltimore. II will not ne
cessarily follow, however, that these cities will
20 down. Their destiny-if their citizens are
energetic and shrewd--is to be large manufac-
turing towns Land will always be SO much
cheaper there than here that number Of ma
nufacturers will select them as preferable sites
to New York. Hence-with energy and indus
try-the Philadelphians may make their city o
second Birmingham or Manchester, while Balti
more may rival Lyons. The sooner they frankly
adopt this view of their prospects, the better
II will be for them.