The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1861-03-14

aggressive principles and policy of the Republican
party, it has shown that it is equally resolved not
to countenance any precipitate movement which
would be likely to cause excitement here and at
the same time be unproductive of any good re-
suits Its members have proved that they were
eminently worthy of the confidence reposed in
them by their constituents; and they have, by
their proceedings forever set at rest the ISLANDERS
of those who have so constantly impeached their
motives and misrepresented their purposes.
The Annual Report of the Baltimore Board of
Trade for the year 1860 has just been issued. 1t
presents many points of interest in relation to the
trade and commerce of our city, and contains
suggestions that are emnently worthy, not only Of
the consideration of our merchants generally, but
also of the municipal authorities. In the
matter of imports and exports the Report
exhibits our foreign importations for 1860
as indicating "a falling off of one hundred and
"thirty thousand dollars as compared with the
importations of the previous year; whilst our ex-
ports for the same period exceed those of 1859 by
the extraordinary amount of 1.-TWO millions two
"hundred thousand dollars" 1t is proper to state
however, that the exports of 1860 were even less
than those of 1856 by over two millions and half
of doars-a difference which may be attributed
to the partial failure of the grain crops in the
Western States during the four preceding years.
The slight decrease in the aggregate value of the
imports which passed through our custom house
last year, is ascribed by the Board of Trade to
"the large quantity of goods in warehouse
s'not entered for consumption, on the LIST
''of January 1861" The apparent difference
may indeed be so accounted for; but an examina-
ton of the statistical tables for the past FIVE years
also discloses the important fact that there has
been q positive decrease in the amount, both of
imports and exports during all that period. This
falling off in our commerce is one of the gravest
features of the Report before US. To maintain the
amount of our imports and exports at the same
point whilst those of other seaboard cities are
increasing year by year, would be Of itself evil
dence that are retrograding commercially;
but an actual annual decrease is still more omi-
nous as regards the future. The greatest obstacle
to our material prosperity arises from the apathy of
our merchants in relation to the question of direct
trade. However we ourselves may regard this
matter, it is beyond all question that, in conse-
ing and exporting through New York, we have, to
a certain extent lost caste with the merchants of
the interior. They know that we have thus
abandoned the facilities for ocean navigation which
our magnificent Bay affords US, and, justly or
unjustly, they jump to the conclusion that whilst
we profess to import our foreign fabrics
through New York we, in point of fact,
purchase the great bulk of them in that city from
the importers. Impressed with this idea, they de-
termine also to make their purchases in New York,
as the headquarters of the importing trade; and it
is but natural, that where the imports are bought
the produce for export should be sent. We
hold it to be capable of easy demonstration to the
meanest capacity, that the city of Baltimore can
never hope to derive any great advantage from
her admirable geographical position, until her
merchants and capitalists, and her municipal au-
thorties, combine together to institute system
of direct trade, not only with Europe, but also
with Brazil, the West India Islands, with Cuba,
and our own Southern ports. The difficulty lies
not so much in the want of the necessary means.
as in the diversion of those means, by our moneyed
men, to other uses. What We need most of all is
larger appreciation of the true value of such
commercial enterprises; a stronger development of
the sentiment of local PRIDE and juster estimate
of the profit which would ensue if such invest
ments were properly made and juGiciously man.
aged. a thing may pay handsomely indirectly,
even when directly it involves an actual loss
Look at our Railways. For years the Baltimore
and Ohio Road returned no dividend to the stock
holders; but it has, at all events until with
in very recent period, been silently and surely
building up the trade and commerce of the
city. 1t was extending annually the acquain.
lance Of our merchants with those of the
West and North West. 1t was bringing annu-
ally thousand oftons of agricultural produce to the
seaboard. 1t was increasing annually the value
every foot of real estate within the limits of our
municipality. The Northern Central Railway has
never yet to our knowledge paid single dividend
to the stockholders; but will any one say that our
citizens generally have not been large gamers by
its construction? What would Baltimore have been
at this day if she had only had access to the West
by Conestoga wagons and stage coaches, and ifshe
were shut out from the btumnons coal fields of the
Cumberland mountains, and the anthracite basins oil
Pennsylvania? In counting up our losses from
works OF internal improvement, we should also
take into consideration our gains. If we lose by
direct investment six per cent. per annum, and
gain, indirectly from the same source, twenty five
per cent. per annum, the balance in our favor is
still nineteen per cent. But there is another as
pect of the case. A wellknown axiom assures us
that "the price of liberty is eternal vigilance''-
The same incesSant watchfulness and activity are
demanded as the price of success in trade and COM
merce. We cannot stand still with energetic and
Jealous competitors all about US. If we would
keep our position in the field we must grid our
loins for the race, enter bravely into the struggle
and contest the palm against all corners. Wehave
our Railways. They are admirably located, and
have been, and are successfully worked if we est
mate the measure of their success not by the div.
dends they have paid, but by the amount of trad
which they have brought to our city. What W
now need, what we imperatively require are line
of steamers to connect our port with the ports @
Europe, of South America, of the West Indi
Islands, and of the Southern States. We do no
say that these can all be had at once; but we d
assert that beginning looking to this consumma
tion ought long since, to have been made. Look a
our easy access to the Ocean; our position on tn
map, midway between Maine and Florda-the ex
IRENE North and the extreme Sonth-our means o
communication with the entire network of Rail
ways which covers the most fertile agricultural sec
tions ofhe Union, and our vast mineral resources
coal aud iron esrr,ajly--jEr very sinews of man
ufacturing industry and the true basis upon hicf
to found the greatness of State so favored. The
products of the interior in search of domestic OF
foreign market now find their way to our ware.
houses and wharvesj but how long will they
continue 10 do so if we fail TO furnish The means
of ocean navigation? There time when our
merchants alleged that it was impossible to import
direct from foreign countries, for the reason that
we could not furnish vessels with return cargoes,
and, for the further reason, that the water in oul
channel 10 the harbor was too shallow to admit
the passage of ships of burthen. Neither of these
objections now exist Tobacco, Corn, Flour and
Provisions are constantly seeking an outlet to
foreign market, and vessels drawing twenty-five
feet Of water can now pass easily over the bar