The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1861-05-15

less would it be able 10 earn sufficient profits TO
pay the interest on the bonds issued to secure its
completion. The Eastern part Of the road would
be thrown open to local and Baltimore trade, and
if not interfered with, would probably do thriv.
ing country business As it is responsible how
ever, for the debts Of the whole road it could
not, by any possibility, secure revenue suf-
fcent to keep down the accrunn interest,
and prerent lis being sold under a foreclosure Of
mortgage. Although the road itself might not be
materially affected by such an event it could only
result in entire loss to the stockholders both pr-
vate and public, large amount being held BY the
city and State. But, as very large proportion
of this local traffic is derived from the State Of
Virginia, and especially from the Valley of the
Shenaudoah--mo than one half of the -four
which is shipped from local stations between the
Ohio river and Ellicotrs Mills, coming
from Martinsburg, Harpers Ferry and in
terrnediate points-it is not to be sup
posed that Virginia would permit her produce,
which is required for home consumption or for
Southern or South American shipment TO be
transported to Baltimore, foreign market, when.
at a comparatively small outlay on roads already
projected, this whole trade could be readily d.
yered to port within her own territory. The
Leesburg and Alexandria Road has already been
completed to Leesburg and is intended 10 connect
win the Winchester and Harper's Ferry road at
Winchester, thus Offering to the grain and flour
shippers Of this region, which, in proportion,
produces vastly more than the Martinsburp dis
trict, shorter and cheaper route to tide water.
coal do b1S al od-l
injured since the commencement of our national
difficulties, by the competition Of the Broad Top
coal of Pennsylvania. This, although not so
good an article as the Cumberland coal. is of the
same character and approxmates it in quality sniff
GENTLY to be used in its stead for many purposes
The low rates of freight which would have to be
charged to prevent the product Of cur mines from
being diminished by Pennsylvania competition,
and the loss of freight consequent upon the com
pletion of the Loudoun and Hampshire road could
only tend to reduce the at present derived
from this source.
in regard to Westward through freghs, the
same remarks apply as to Eastward ones Mer-
chandise might be passed over the Western end
of the road without being subject to duty, but it
is hardly possible that Western merchants
would either come to this city TO make purchases,
or prefer 10 forward their goods over this route.
The trade to local stations is mostly retail Or
jobbing one. Merchandise therefore could not he
purchased here in bond this system never extend
ing to broken packages, so as to he subjected in
Virginia only to the same rate duty as if entered
at Norfolk or Richmond. To present the pay
ment of double duty, the country merchants Of
Virginia along the line of this route would neces.
sary be forced to procure their stock from their
own State.
In every point of view it appears that most
serious blow mnst be dealt by the separation of
Maryland from the State of Virginia to the bust
ness of this great avenue of trade and the pros
perity of our city. The eject must certainly be
to impoverish both city and State thereby not only
decreasing the value OF property but subjecting
property holders to increased taxation for the pur-
pose of meeting the deficit occasioned by this i'm
portant loss Of revenue
We propose 10 show in another issue that pre-
ciseIy the contrary effect would be produced by
the alliance of Maryland with the Southern Con-
iederacy.