Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1860-01-26
COMNHERCIAL-
oyi.H 90 THE WHO. Jan. q, 1850.
M Arr a p.


At no previous time H. the history OF the State,
have the people dpod patronze home Industry
and encourage "dreet trade they present Meeting
after meeting adopted nonnseoue resolutions In respect
10 Northern goods numerous Southern Rights Associations have
been formed and eyidenee presented determination
on the part vrgnans esiabh possible the commercial
But tn Impetus which such spirit as
this prevailing among the people, should have given to the
has not manifested Itself To that eI
many persons have Various reasons have
assigned for this backwardneS inertia but the most po'
entla opinion, the fact shAt cddt Il deficient As
spirits the Vastly deepas attempt TO bring manuae-
turing establishments into successful existence without capital
We have number OF wealthy people In Virginia, but we also
have upon our books penclous laws which have
driven capital away from the State until these repealed
or essentially modified the presence Of opulent citizens,
without money invest Tend, will promote the
establishment manufactures In Virginia The great question to
considered the Legislature at The present session slow
capital which belongs to Virginia be made available In
building up her commerce and man fractures"
committee Of and Others city,
Iy published pamphlet in elucd ton Of this uect-coples Of
which have been delivered ofthe Legislature
hoped they will give the pamphlet careful and attentive
rusa arguments employed able lucid and logical and
reflect credit upon the writer TIE Of enquiry Into the
present condition the capital owned In Virginia. 1t
poyed whether any part Il Is directed other States
and II So Why Before entering upon enquiries appro-
prately capital extremely sensveyieldng to slight
impulses attraction few lines on paper or few
vibrations of the telegraph We may transfer amount Of IT,
In an hour or day hundreds thousands Of miles With
qualities apparent that nNrder retain and make avail
able we exercise unusual In dealing with 1t.
the present condition OF this floating capital vns
one thing may be safely said extremely hard fad Let any
scheme any magnitude wh the most promising prospect Of
profit proposed and the great difficulty in the way find
the capital to It, 10 make large loans any OF
security OF the bank, impossible Even
negotiable eper In large sums Into money
well nigh hopeless The Effect Of this Of things upon
enterprises Identified with the expansion OF and
the extension Of manufactures too apparent to require any
posuie of It In detail"
has been acertaned slOOOO Of capital owned
Virginia employed States larger capital
o. their money abroad than
facts which show why Vrnia backward In her trade
dependent upon other for everything beyond the I'm
mediate products Of the SSH Is true them that the great
problem to be settled befo expect achieve commercial
independence is "hO, bring home the monied wealth Of
state diverted al.oad encourage here that
shall remain, aud inereas and multiply"
The diversion Of SO rg,a proportion Of the moned wealth Of
the State ia easily explained: at yields larger
three per cent more-Wh1e IT, and bears less taxation The
remedies proposed in the before for the disease
der which the body polleB suffering"
1s That citizen engaged In shall put upon an
equal footing with citizens Engaged 10 other industrial pursuits
Sd modification OF th usury laws retaining the pesenteSal
and bank OF interest other Subjects placing negotiable
not having longer sn eight months separate
u u
sold for il cduC least extending the Of In
teresi such paperto eigf. per cent
3D. The adoption id policy upon par,
dscounng paper Inst Of giving preference Northern pa
per- paper payable Nhern cities they should prefer that
here In other Words they oad pursue the
Northern banks refuse paper payable
their State.
The efficacy Of these r5Sosed Of relief ably demon
ated in the pamphlet T rank injustice and gross mpocy
onerou discriminating tax merchant. too obvious to
quire augmentation In the usury might also
be said that their mpocy equally palpabe, but
there intelligent people who believe, affect to be.ye
that the surest chespen prevent Its accumus
ion and the way make dear make abundant
The experience Of Engani affords contradiction Of this absurd
theory for with no such ~ three esnts her rate
OF interest We have thn and 6 per cent Is in bank
OJ 10 per little can be had
the balance OF what Is ~. edrd not to be had at all
Desiring give In full he urged pamphlet
change ia the banking policy Of the State with respect North
paper viii them T. future issue, and
time again express the that the members OF the Legislature
will carefully consider ITO suggestions brought to their attention
TIL COgFER TRADE
The New York Shipping and Commercial List has re-
Gently published elaborate of the the
States the yea 1859 following abstract Of
the most important points:
"The receipts T. United excepting California and
Oregon for the ending Dee 81 1889 were +o packages
weighing 2iS2 BOO H. aanst receipts IT, ISIS Of 1854 go pkgs
227 $50 sd NJ while ne total consumption in 1859 2s sS2
80 D. against Ia lsJs Of 2j 25jOg9 ~ being
decrease In the consumption Of The past year. compared with
ss, Of 1922 Il the comparison however, between
SIS IAN scarcely called just one mas
much the deliveries Of vs. greatly stimulated by the
raysis which prevailed nss well other descriptions
chandLe dunng Oner Of the 1885, and In reality the
iVees OF ISIS comprsea consumption OILS 6 months which
SfsIy SSsa By TSg S H iRc years previous sT
there will be found steady, but not very large increase
"Thr stocks LIST Januar FOf the though condera