The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1861-06-24
BALTIMORE.
MONDAY, JUNE "a, 1861.

lis imports are excluded and its means for obtain
ing shoes, clothing and other necessaries, even for
its army, are entirely cut off We propose to take
Southern view Of this question also; and we
think it of easy demonstration that the effect of
the Sagac'ous policy adopted by the North is
though ii may prove of great temporary inconve-
nience, only calculated eventually, to enrich the
Sou'h at the expense of the North
The closing of the Southern ports may. il il
true, cut off, for time, the importation of all for
eign goods, but it at the same time effectually
excludes all Northern manufactures; and while it
deprlvcS the South of nothing really necessary
to 1t, 1t in reality revents it from mpoverishine
ITSELF by the purchase of large amount of for
egn goods, at a time when every economy should
necessarily be praclised at home The establish
ment OF the blockade has put an end, for the pre-
SENT TO the importation OF fabrics from Europe and
the North, but at the same time it forces tbe
Sonth 10 establish its own manufactures, and to
furnish ITSELF at least, with those articles Of
prime necessity for which it is now principally
dependent on the North. New Jersey, New York
ana the New England States, possess no natural or
pre- eminent advantages that give them the entire
conuoi oi the manufactures Of the American Con-
t'h'ht. Capital, enterprise, population, have to
besnre established this branch ofindustry on firm
basis in those States, but there are other locations
which otar Inducements equally great, and The d.
rect elect Oh the continued interruption of inter
course between tie producers and the consumers
must inevitably be 10 force the consumers to pro-
ouce Tor themselves. The history of cur own
country surely affords us a sufficiently recent OK
ample OF this fact. 1t has become p trite SAVING
tnat America declared her independence in l776
but that she achieved it in 1872. Tn to ,hn
laiter period, indeed, she was a mere COLONY of
"fe"t BRITAIN and dependent upon England for
manufactures Of all kinds. But the war of 1919
ireeu heF from tins thraidom. 1t gave a direct
put only temporary blow to commerce. while
on the other hand it gave an impetus to manu-
lectures which could have been effected in no other
way; and at the expiration of the war convinced
OF the elements Of wealth and prosperity which
they possessed, the New England States did mt
iall to prof! by their experience. Manufactures
We're iosered and encouraged by legislation, and
the mother country was forced TO seek other mar
kets for many fabrics Tor which America had ORE
viously furnished her with the largest markets
What that war then did for the North, this
opportunity for which the South has baen
yearnIhg and striving for years. the North has
no" FURNISHED it with. Every day that
thns war continues, serves but TO give an addi
tlonal impetus to the manufacturing enternrise of
the South. Coltons, clothing, machinery, cast
lngs, guns, percussion caps and agricultu-
ral implements are all being successfully manu-
Ic'ured IN Virginia, Tennessee and Alabama
Established factories are being extended. new
ones are being built. Population and CAPITAL in
eVltaoy flow to thriving districts and with the
necessary means once invested, the machinery
erected anu Tie factories in operation, the North
Will ma That even ii a peace be established which
secures an untrammell-d communication between
the two sections, the result of her insane noIi-
cy will have been to build up COMPETING pro-
dnc'lon IN the districts where she looked for the
largest consumption. Unfortunately for the
N"rtnerh States, those manufactures which they
produce most successfully, that's, shoes, machine
ry' castings, agricultural Implements and other
American wares, are precisely those which are
required for the slave States. When it is emf off
from the South it is cut off from its LARGEST CON
sumers tits a death blow to its own prosperity
'>J' =" "o sure, Huu q market Tor certain
CLASS OF cottons in the East India and South Amer
ican markets; but for all the finer qualities. and
all american wares. unless the cost of production
DE reduced 1t can only, for the future manufac
tire quantity sufficient for the consumption IF
the Northern aud Western States
n similar effect must be produced on the COM
herce OF the States. No peace can now be couclu
ded, on any terms, which will restore trade to the
ola channels. The South viii, spare no effort and
leave no mans untred which will email BILE if in re
tam for itself some of the vast advan,.g. of -,
own commerce. 1t is estimated that the Sontb
S'"iS ''e Nortn every year products valued at
over 9o0O,O0O,Oc0, upon which the commercial
men and bankers of the North and principally
OF New York, reap harvests of golden profit
Through New York the large financial operations
OF "hlch Southern produce is the basis are now
maze, ana Southern material forms in fact the
capital upon which are drawn the millions of ex-
c"ahee winch regulat operations in all quarters
OF the globe. But this is not ALL large nor
uon of the wealth of the North is derived from
the shipping interest The large TONNAGE of tha
United States is built aud owned nrincina1n j.
the North, and the North does MT ,eas, ,Lroo
fourthS Of the foreign carrying trade Tho ,,,,..
OF export freights alone-we take our estimates
from II work to which we nave more than onco
before alluded, "Southern Wealth and Northern
Froh'S"-amounts to about S2S, OOO, 900 per an
num- about siX-sevenths OF which is derived from
The transportation of Southern produce. The value
ofreturn reights on merchandise paid for by Sop,h
ern cotton, tobacco and naval stores is probab,v
even greater than this. The prosperity of the shin
ping interest of the North is actually dependent ,nor
the prosperity of the South. Statistics show tbat
with the increasing agricultural wealth of the
South the tonnage of the North has increased.
and the increase of American tonnage has
peen calculated to be exactly in proportion to the
increased expectation of cotton-every additional
bale OF cotton requiring one ton additional of
shipping to transport it. Every day of the con-
tnuation of this blockade is a loss to this INFER
EST; and not only a temporary, but permanent
one. The slave States have already endeavored
to turn to advantage their vast timber fields and
from year to year they have gradually been ex-
tending their ship-budng In 1856 they built
about one-tenth as much tonnage as was built
In the North but in 1858 they built one-fourth
as much, showing clearly that they have both
Tue VIII and the ability TO extend the OBJ
el"uohs OF their ship-yards. Every dav that |
'ii's war continues does the North run a great
g ''SA vi uivertng this great carry ing trade
Ne' o"n ports and her own vessels. Every
day serves but the more firmly IN conr;noo ~
land OF the necessity of untraur,ouo, c-.,
communication Tor her manufacturers. and &c
from day to day she becomes more -,
acquainted with the true strength Of ,ha So,
so will her desire become greater for moro ;..:
mate alliance. This the Southern Confederacv ,-:,,
not be slow to grant. 1t will use, for the nrs-
sent, the capital and shipping of England in place
of the capital and shipping of the North and avail
i'self of foreign aid until it is able to
provide for the transportation of its own pro-
uuoe' What will New York be, deprived of the
carrying trade of the South, and without the
p..nS Vi mat trade, and the benefit of the ex-
changes arising from her Southern business con-
he''ionsa The effect upon the agricultural nro-
uucs OF The great West will also ho a;oo...p.
The Gulf States are being forced for ~ 'u'
ton to diminish the cultivation Of. p pa..
and TO devote portion of their I.bo.
the growth OF an increased cron os :"
reals. The consequence Of this will -
to enable the South 10 support, without impover.
ishing itself. The scarcity of cotton, arising
from diminished production, will, in all probab-
t'f 'a. o. tsaI1l aG aali yjft .-a.s-t