The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1860-10-27


room.
We have frequently had occasion to call the at
tention of our citizens to the magnificent region Of
the great Northern Lakes as field for commercial
enterprise, which, by the completion of various
links OF railway running in that direction, mas be-
come not only practicable, but invites, and will
generously reward, energetic competition. We
wish we could bring Ous reople to the full appre-
citation Of some important facts in regard to this
subject First of all, is essential to clear under
standing of the matter that tie relative geograph-
zeal position of cities that have been brought into
communication with each other should be taken
into account. How stands Baltimore in this
spec? Of all the ports on the Atlantic sea board
she is nearest in point of distance-and conse-
quently in point Of time--to the great centres of
trade and commerce at the Northwest. Take for
instance the two cities of Buffalo and Chicago.
Making Baltimore the point of departure the first
can be reached by rail in fourteen and the second
in thrty-sx hours, and a similar advantage &C.
crues to Us with respect to all intermediate points.
1t must be understood, also, that this connection
Is perfect throughout, and that there need
be no delays or embarrassments arising from the
transhipment of goods. Let us now turn to
another point. The North West has already be-
come, and is destined TO continue to be, the gran
airy of this Continent. Its agricultural resources
are almost boundess. The Lake Superior copper
mines, though at present but imperfectly devel-
oped, are not only the most extensive in the world
but turn out the largest per centage of pure metal
TO the ion of ore of any that have vet been dis
Is, Inv
The spit Of land formed by the division of
the Chicago river into two branches where it ap-
proaches the lake. being sometimes, and even now,
closely packed with lumber for distance of FIVE
miles This, however, is but an isolated example.
Look at the grand system of Lakes all connecting
with each other, and draining, collectively, an area
of nearly three hundred and fifty thousand square
miles. The aggregate length of these inland seas
is nearly fifteen hundred miles The average
breadth abont seventy miles. The aggregate
value OF the exported commodities may be roughly
computed to reach, at the present time three hum
dred and fifty millions of dollars annually. The
annual value of the entire commerce cannot be less
than six hundred and fifty millions of dollars.
The published statistics bear us out in this asser-
ton Of course, the financial troubles and the
INSANE SileCulduOnS IN Will western lands; bad
crops, and, to certain extent, the mania for con-
structing new lines of railway in advance of the
absolute demand for those facilities have crippled,
during the past two years, the resources of the
Northwest; bat healthy reaction is now setting
in, and estimates, to approximate to correctness,
must be based upon normal condition of things.
and not upon the low state of trade which is a
consequence of occasional perturbations. What
the commerce of the Lakes was in 1856 it is but
far to presume that it will be again in 1861, and
in the former year it exhibited the extraordinary
fact that it employed one hundred and forty YES
sells and six thousand men in excess Of the whole
ocean and coasting trade. Again Take any
map and trace upon it the movement of popu-
lation for the past ten or fifteen years whatsoever
studies the matter carefully cannot fail to become
impressed with the conviction that the centre Of
population for this continent is destined to be
and that at no very remote period-at some point
IN the vicinity of tue Great Lakes The trade of that
region during the earlier period of settlement found
its principal outlet to a market through Canada
and by way of the st. Lawrence river. New York
was the first of our own States TO enter into the
field of competition, and by her system of rail-
ways and canals, has succeeded in monopolzing |
almost the whole of it. How much those works
OF internal improvement have added to the mate
rial prosperity Of the Empire State every one may
comprehend who will take the trouble to contrast
her rapid expansion, of late years in wealth |
and population, with her slow progress in
both respects previous to the construction of her
Erie Canal and TO the Introduction of railways.
She is now reapng the rich reward Of her sagacity
and foresight Her canals, which are now
IN process of enlargement TO double their
original capacity, are crowded to repletion
with the products of the abundant harvests
of the Northwestern States Her RAILWAYS are
also quite as actively employed, and there is still
remaining over, at the lake ports, an immense
surplus of agricultural products which cannot be
moved before the winter sets in for want of other
outlets to Il market on the aboard. If this were
au incident that might never occur again, the con-
trolling commercial influence which New York has
obtained over the trade of the Great Lakes, would
naturally deter other cities from venturing to
dispute her supremacy. But when we take into
consideration the fact that this commerce is only
in its infancy; that The area drained by the great
Lakes is, as yet, speaking comparatively, but
thinly settled; that every year large additional
breadths of land are being brought under cult
walton: that the surplus Of each year must seek its
market on the sea-board, and that with in
crease of population, must follow an increased
demand for articles of domestic consumption
which can only be derived from other sources, it
is evident that there is not only room for compe-
tition, but that it is the interest of the people of
the Northwest, to invite the opening up of new
channels of communication, and to make liberal
use Of the facilities which would thus be afforded
to them. The merchants of Philadelphia are, at
this time, endeavoring to carry out these views in
action. They have deputed q committee of the
Board of Trade to visit Chicago, for the purpose
OF making the acquaintance of the merchants
there, and of comforting with the Chicago Board
OF Trade with regard to the best means of pro-
noting closer commercial relations between the
two cities. From the reports that have reached
us of the cordial manner in which the deputation
has been met, and of the conferences that have
been held, we have no reason to doubt that the
movement will be productive of good results. Nor
can we imagine that a similar welcome would not
oeeX'ended to committee of merchants, authorized
10 represent our own Board of Trade. Every ad-
vantage that Philadelphia can tender, we are ca |
Papie oi oerlhg 10 at least an equal extent and it
may be that, in some respects our market presents
superior inducements. But, admitting even that
the two markets are equally inviting, the trade of
the Great Lake region is expanding so rapidly
tnat 1t cannot long be restricted to any one sea-
BOARD city, and must inevitably seek new outlets.
1t remains, therefore, for our merchants to saw
whether, with the facilities that they have, and
with the means at their command they are still
content to rely upon the resources of the West and
South alone; or whether they will use their best
efforts to add to those resources portion of the
vast supplies that crowd the Lake ports, and that
seek an interchange of commodities in new mar
kets.
The Washington correspondent of the Neo
York Timis, of yesterday says:
Its my painful duty confirm on undoubted author
tv the statements which have gone abroad from this
II. f,sA1 l.-1-U