NILES' REGISTER-APRIL 9, 1825-INTERNAL IMPROVEMENTS. nearly two thousand miles, to New Orleans, to six or seven hundred miles, to the Mobile, which may be connected with the Pensacola bay. The Cumberland river, in the state of Tennessee, it is believed, can be connected with the Tennessee river, which, when connected with the Tombecbe or Alabama rivers, will open a direct water communication to Pensacola, in Florida, for a large and important section of the union. 93 elevated places, and which was conveyed by aqueducts advantageous to the nation at large, would not have over rivers and valleys. This canal, although greatly been good property for private proprietors; but it was the origin of innumerable canals in France and Holland, which exhibited, in the clearest light, their many and important public and private advantages; but, ple of England, and although they had the examples notwithstanding the enterprising character of the peo century passed before either government or inhabiof Holland and France so near at hand, still near a The cutting of a canal from lake Pontchartrain, to tants attempted to make any works of the kind in communicate with the Mississippi, at or near the city England. The success of the undertaking of a spiritthusiasm, and awakened a general ardor, for similar of New Orleans, is considered of importance, both ined individual, at length roused the people to ena military and commercial point of view. Pearl river, in the state of Mississippi, is also a improvements, among the landholders, farmers, mervaluable stream, and is capable of much improvement for the public advantage. Some of the Georgia rivers, it is believed, may be connected with the western waters. Besides the communications already mentioned with the lakes, it is considered as practicable, at a reasonable expense, to connect the Wabash river with the Miami of lake Erie. The importance of an early attention to the constraction of canals, round the falls of Ohio, at Louisville, and round the Muscle Shoal, in the Tennessee river, will be readily conceded. Whenever the contemplated water communication, between Boston and the river Delaware, shall be completed, it will, it is supposed, leave about thirty-eight miles of land, separated by water sources, to Louis river, a branch of the Columbia, which empties into the Pacific ocean; as, from the Talpahockin, a branch of the Schuylkill, to the Quitepahilla, a branch of the Susquehannah, four miles; from Popular run, a branch of the Juniatta, to the Little Conemaugh, a branch of the Alleghany, fourteen miles; from the Yellow Stone river, a branch of the Missouri, to St. Louis' river, a branch of the Columbia, twenty miles; making, in the whole, thirty-eight miles. But what distance of canalling, and water improvements, would be necessary to complete this chain of communication, the committee possess no means of ascertaining. Parts of it, no doubt, will be accomplished in a reasonable time; yet there can be no expectation that the whole will be effected for a very long period. then, there has been no cessation in the prosecution The canals united the materials for manufactures that lay dispersed, and, by lessening the expense of the transportation of bulky articles, they brought stores of riches from the bowels of the earth. They afforded to the inhabitants of the interior, in every direction, the advantages of coasts which were safe from tempests and wars. England could never have sustained herself in her mighty struggles with the continent, had it not been for her unremitted attention to the domestic industry of the country; and nothing gave as much facility and animation to this in dustry, as her cheap, safe and expeditious modes of transportation. Prejudices, even as to the practicability of executing great designs, existed in England for a long time; and when the duke of Bridgewater's canal was finished as far as Barton, where the Irwell proposed to carry it over that river by aqueducts; is navigable for large vessels, Brindley, the engineer, If the survey system, which commenced the last the idea was ridiculed, and another eminent engineer summer, should be persevered in, the union, and the was consulted, who replied, at once, that he had often been shown before, where any of them were to be several states, will be put into the possession of va- heard of castles in the air, but that he had never luable information on these interesting subjects. In viewing the prospects before us for improve-built. The duke, however, took the advice of his ments on a large scale, the mind is lost in amazement [own engineer, and the work was commenced in Sepat the extensiveness of the scenes which appear for tember, 1760, and boats sailed over it in less than a the permanent benefit and grandeur of the country. year, to the astonishment of those, who, a little beThe inhabitants of the old countries were, for a fore, thought it impossible. The New York works long time, confined to the coasts; but the improve- had to encounter prejudices of every description; ments in navigation gave an unlimited expansion to some entertained opinions that the whole scheme commercial enterprise, and the discovery of canalling was romantic in the extreme; that it was totally imis an admirable extension of the benefits of naviga- practicable; and, if practicable, that it was far bestate to carry it into execution. A short period has, tion, by which we can sail over the globe by land as yond any conception they had of the ability of the well as by sea. The inestimable invention of lock navigation was however, dispelled all such apprehensions; and it may entirely unknown to the ancients, who have furnish-be reasonably hoped, that these works will produce ed us with so many astonishing monuments of their similar effects in An. :ica, which the Bridgewater greatness; it instructed mankind in the knowledge works did in England, and be the origin of a thouthat water was capable of producing the ascent of sand water communications in different parts of the The construction of canals is now reduced to strict vessels to its own level, and that, wherever there is union, water above, vessels can go down and re-ascend by water; but the invention, in itself, is not much more rules and methods, and can be contracted for at so free from the mist of ignorance and prejudices, stili wonderful than the prejudices against adopting it in much per mile or lock. Although our minds are now practice, which have existed in many countries. In the construction of the canal of the two seas in important difficulties, but, it is trusted, not insuperaFrance, all the science and art appertaining to the ble ones, remain, as to the course which the United subject were displayed. Locks, 114 in number, were States ought to pursue on the highly interesting subConstructed, and rocks excavated for great distances; ject of internal improvements. If we do not cherish funnels were cut through mountains, and a reservoir, a spirit of concession, and act with liberal views, for of 5 acres, was filled by water from the adjacent the general benefit, as to the places where public works are first to be undertaken, success can scarcely will increase with the growing population of the counbe expected. Whether congress will pledge its faith try; and the government, besides, owns about 500 in advance, on any plan, or act merely in specific millions of acres of land, the value of many parts of cases, as they rise, or upon a combination of both, which will be enhanced by the improvements of the according to the design of the annexed bill, or upon country. the principle of an equal proportionment among the states, according to the ratio of representation, are grave and important questions, and can only be settled by the experience and wisdom of congress, after solemn deliberation; but, when these important points are disposed of, there will remain nothing to impede the national councils from conferring on their constituents the greatest blessings, and acquiring for themselves imperishable renown. Ultimately, these works may be looked upon as the best source of revenue, and at all times they will effect a great saving in the labor and expense of transportation, which will be diverted to some other employment, and thus increase the wealth of the whole. In a time of war, they would facilitate, beyond description, both in cheapness and expedition, the transportation of troops and heavy munitions of war, from the sea-board to the Canada borders, or in the direction of any other point in the union, where we could be assailed. No opinion can be formed, with accuracy, as to the expense of land carriage, throughout the union. It is, however, estimated, that 30,000 tons are annually transported over the mountains to Pittsburg, at the extraordinary expense, for wagonage, of $600,000 a year; and this mode of transportation, besides, employs a large capital in wagons, horses, feed and attendants. A few facts will show the enormous expense of transportation in times of war. In the late war, flour, in some instances, cost the government near one hundred dollars per barrel, and pieces of artillery, each, near one thousand dollars, and, owing to the delay, were useless when they arrived. But we will suppose the case which is the most unfavorable: and that is, that the debt, together with the improvements, should go down to posterity; it would only create an obligation on those who would have the enjoyment of the improvements, to pay the debt. Would posterity have any cause of com plaint, when so much labor would be performed to their hands? They would not murmur; they would rather bless the authors of their benefaction. As to means, on questions of improvements, ability is the only requisite, if the works, when they are completed, will be worth what they cost; the want of money in the treasury should never form an objec tion to their execution. In such cases it is only necessary to inquire, whether we have a sufficiency of credit, labor, and skill; these constitute the means; and on this enlightened policy, the great improvements in the state of New-York have been made. The importance of placing this country in the most advantageous condition, to enable it to enter into competition with the countries of Europe in the trade with the republics of South America, must be obvious to every enlightened statesman. The discovery of a passage round the Cape of Good Hope to the East Indies, was an important era in the history of Europe; and it may be assumed that the independence of South America is not less so to this country. No country can offer to us commercial openings more rich, or more within our reach, than the Spanish republics. Our territories touch. The ports of Louisiana and Vera Cruz are connected with the same sca. Our access to Mexico will be easy. As regards the importance of Mexico, it is illustrated The cost of transportation across the peninsula be- by the circumstance, that it is the richest and most tween the Delaware and Chesapeake bays, a distance extensive of all the Spanish possessions; it exceeds, of only sixteen miles, amounted, in one year, to a lit- in magnitude, Spain, France and Italy, united. All tle less than half a million of dollars. The losses in the eastern coast of Mexico, the kingdom of Terra the last war, for want of good roads and canals, were Firma and Paraguay, are nearer to us than the ports very large, and, it is believed, they would be suffi- of Europe; here is a wide field opening for the comcient to accomplish many of the important improve-mercial enterprise of the Americans. It would be ments which are contemplated. presumptuous to attempt to point out the particular It may here be truly observed, that, among the ob-character of the trade, in all its branches; but that jects of a national character, which occasionally engage the public spirit and resources of a nation, none are more beneficial, and none so permanent, as the internal improvements of the country. These will remain as lasting as the rivers they connect, while others will be effaced even from remembrance by the flow of time. As to the means possessed by the general government to perfect the contemplated improvements of the country, they are abundant. Beyond the sums to be borrowed by the annexed bill, the redundancy in the treasury, in each year, will meet specific cases of improvements of the first class, which may be presented at different periods. And if proper objects are selected in the beginning, a revenue will constantly be coming into the treasury, as the improvements are progressing; some canals, it is probable, would yield more than six per cent. soon after their completion. The secretary of the treasury says we shall have an annual surplus of upwards of three millions, beyond the sinking fund, which will pay the public debt in ten years. This may not all be realized, but it is probable that the surplus will even exceed this estimate. The public debt will be diminishing, and there will be less interest to pay; the appropriations for fortifications will not be as large as they have been; the pension fund has diminished more than one half in the last three or four years, and must entirely cease in a short time-from this source alone, upwards of a million will be disengaged; the customs two great countries, geographically situated as these are, can remain without an immensity of commercial intercourse, is incredible. Nothing can be more intimately connected than the interest of commerce and that of the cultivators of the land; and the manufacturing interest naturally follows as a benefit to both. We can get nothing from abroad, if we have not something at home to exchange for it, and this something must come from the earth or the sea, but mainly from the land. The objects of commerce will not grow in the streets or along the margin of the sea; they are to be obtained in the interior of the country, or from manufacturing places. The navigation of the country depends on the interior prosperity of the country, and must rise or fall with it. Navigation follows, it cannot lead; and the more the objects of commerce are increased, the more ships will be wanted. The raw materials, and the various productions of the soil, in the first instance, belong to the caltivators of the land; and the trade of the country belongs to the people at large. Its object is to carry to foreign countries what we have to spare, and to bring back what is necessary or gratifying to us. And this com merce of the country will inevitably and daily increase with the improvement of the country. The grand secret, in the whole order of society, in its relation to political economy, is nothing more than to hold out such inducements as are the best calculat ed to make the people industrious, and to aid this in- have been thrown into it, and encourage the Missisdustry as much as possible by labor-saving machines.sippi to discharge a part of its waters through this A uation, in all its wisdom, cannot effect this end so channel. From the junction of the Iberville with the well by any contrivance as by the simple operation of Amite, there is a safe and convenient inland navigation safe and cheap modes of transportation by good roads to the head of the bay of Bonsecure, an arm of the and canals. Suppose two nations to be adjacent: the bay of Mobile. A canal, five miles in length, will conone intersected with canals, and the other only ac- nect the navigable waters of Bonsecure with those of commodated with ordinary roads; how much more the Perdido, and a canal, one half mile in length, will connect the Perdido with the Grand Lagoon, which powerful and rich will the one be than the other! The age of a nation does not depend on time, but communicates with the bay of Pensacola, making the And a whole distance, to be opened between the Mississippi on its strength, population and character. nation, possessing, as we do, ten millions of people, and Pensacola, thirty-five and a half miles, thirty of connot seriously be destitute of means to accomplish which will be through a natural channel, and may be all the important works, which, on the most ample in- completed with inconsiderable expense and labor. formation, and best deliberation that can be bestowed From Pensacola, eastward, there is a safe inland naon the subject, shall appear to be of essential advan-vigation through the sound of St. Rosa and the bay of tage to the different parts of the country. The gene- Choctawhatchy. A canal five miles in length will ral government can adopt no other measure which connect the latter with the bay of St. Andrew's. A will produce so much animation and friendship among her oitizens. It will render access easy, by subduing the mountains and the floods: and must, by the intercourse and interest which it will create in the different parts, have a powerful tendency to the preservation of the whole. A society of people delights in noble achievements; and it would have been happy for the world, if the power of nations had been directed to the establishment of important public improvements instead of exhausting itself in the despicable intrigues of statesmen, and the destruction of the human species. Immense sums have been lavished for military glory, while projects which would tend to cherish industry and morality have not been sufficiently cultivated. canal of forty-five yards will connect the St. Andrew's with the bay of St. Joseph's, and a canal of equal length will connect the latter with the lake Wimeco. This lake communicates with the river Apalachicola; from thence to the bay of St. Mark's, the navigation is already open, and secure, being perfectly protected from the waves of the gulf, by a chain of islands, extending along the coast. Pensacola is distant from St. Mark's about 200 miles, and a canal of little more than five miles will open an inland navigation between them. To extend this chain of connection from St. Mark's to the Suwannee river, would be attended with the only difficulty in the whole route, and would require a canal of about sixty miles. This, however, might be dispensed with until the commuAn abhorrence of many of the arbitrary and bloody nication across the peninsula shall have been comscenes in other countries, has given rise, in the west-pleted. This may be effected by uniting the waters ern hemisphere, to self-government and toleration in religion; and the example of the United States may produce an influence on the rest of the world, when she is known to be inclined to reconcile national differences, rather than to instigate ware, and is seen preserving a steady devotion to the happiness of the people, and constantly directing a portion of their resources to such public undertakings as will advance the population and general wealth, and go down to posterity as the best evidence of sincerity for the permanent prosperity of the country. We can never expect to see a more propitious period than the pre-cuitous and dangerous route through the channel of sent, to commence the internal improvements of the country, on a scale worthy of the importance of the subject; the prospect of a long peace lies before us, and there seems to be nothing else of high interest to engage the councils of the union, for these many years. Annexed is a letter dated February 24, 1825, and a short statement concerning canals: February 24, 1825. of the St. John's with those of the river Suwannee, the Mississippi and the gulf stream. I need not dwell Mr. Hemphill, chairman SIR: Allow me to submit to your consideration a plan to connect the Mississippi with the Atlantic, by an internal communication extending along the northern margin of the Gulf of Mexico. The importance of this communication, both in a commercial and military point of view, must long since have attracted the attention of yourself, and of the committee of which you are chairman, and I shall be happy if my suggestions on the subject should contribute, in the small-parate the waters of the east and west in England. est degree, to its accomplishment. of the committee on roads and canals. Thirty canals in England yield, on an average, SO per cent. per annum, and the stock has increased in value in some, instances, 600 per cent. The route I propose, is intended to commence on Twenty-two canals eross the mountains which se the Mississippi, at the mouth of the river Iberville, and James River and Ohio Navigation. to terminate at the mouth of the river St. John's, on the coast of Florida. Iberville is about 30 miles in length, and already forms a communication between the Mississippi and the Amite, a navigable and tributary stream of lake Pontchartrain. The Mississippi being elevated many feet above the level of the lake, it is believed that, in order to render the Iberville perfectly navigable, little more will be required than to remove the obstructions which Previous to the adjournment of congress, the following letter was addressed to the president of the United States, by the members from the western states and from Virginia, whose names are signed thereto: House of representatives, March 2, 1825. SIR: The undersigned members of the house of representatives, are aware that numerous efforts are inaking to engage the attention of the engineers of the United States for the survey of various routes for 1 canals, across the great chains of mountains which separate the eastern and western waters. They are persuaded that, among these, there is not one better deserving the attention of the government of the United States than that by which the commonwealth of Virginia is endeavoring to connect the James river, or its chief branch, the Jackson, with the Great Kanawha, and, by means of that river, with the Ohio, at Point Pleasant. A canal of forty miles in extent, from the tide of the first named river, now connects the city of Richmond with the coal mines of Chesterfield, Goochland, and Powhatan, and is extended above them, in its progress towards the base of the Alleghany mountain. A contract has also been made, and funds provided, for canalling the Balcony Falls of the river for a distance of six miles. The turnpike from the Great Falls of the Kanawha to the eastern base of the Alleghany, a distance of ninety miles, has been completed, and great improvements made in the navigation of the Kanawha, one of the largest tributaries of the Ohio. To this letter the following answer has been transmitted by the war department: Department of war, March 19, 1825. SIR: The communication addressed, on the 2nd instant, by several members of congress, to the president of the United States, requesting that a survey be made, in order to ascertain if it be practicable to connect, by means of a canal, the James river with the great Kanawha and the Ohio, at Point Pleasant, has been received by the president, and referred to this department. The union of the eastern and western waters, by the contemplated line of communication, is an enterprise of unquestionable importance to the states of Virginia and Ohio, and the lake country generally: and I regret that there is not an officer who could be spared for the purpose of making the survey requested; every engineer and toprographical engineer being disposed of for the year. As you have taken so deep an interest in the great work of connecting the Chesapeake with the western Under these circumstances, it would greatly ac-waters, and in the prosecution of internal improvecelerate the completion of this link of connection of ments generally, and are nearer to the seat of go the eastern and western waters, if it should be ascer-vernment than either of the other gentlemen who tained to be practable, to unite them by a navigable signed the address to the president, upon the proposed canal, and it is deemed highly probable that this con- project, I have thought proper to make this communection could be effected by the use of the waters of nication to you. Greenbriar river, on the western slope of the Alleghany, and several smaller streams, the branches of the Jackson river, on the eastern. I am, with great respect. &c. CHRONICLE. The free school, at Baltimore, established and sup ported by the late John Oliver, esq. of this city, now affords instruction to about one hundred and eighty boys, and one hundred and sixty girls; and is, in ali respects, in the best condition. United States to Mexico, left this city on Wednesday Washington, April 1. Mr. Poinsett, minister of the for Norfolk, where he is to be received on board of the frigate Constellation, which is expected to sail for Vera Cruz about Sunday next. of legation, and Mr. Edward Thornton Tayloe, as priMr. P. is accompanied by Mr. Mason, the secretary The undersigned beg leave, therefore, to call your attention to this subject, and to ask as early a survey as practicable, of the route for a canal across the AIleghany, which they have felt it their duty to describe. In aid of this application, they further state, that, between the city of Richmond and the mouth of the great Kanawha, the actual connection, by water, which such a canal would furnish, will not exceed four hundred and fifty miles. Of this, the Kanawha, one of the straightest and most easily navigated branches of the Ohio, occupies ninety miles, and the James river is already navigable for nearly two hundred more. The distance from the mouth of the Scioto to the mouth of the Kanawha, is about eighty miles, which, added to the four hundred and fifty, makes the entire water line of communication, be-vate secretary. tween the tide of James river and the eastern extremity of the canal contemplated to be made, and now Harrisonburg, Va. March 24, 1825. The navigation begun from the lakes to the Sciota, but,550 miles: of the Shenandoah river, is now so far accomplished, thus bringing the city of Richmond as near to Ports- as to be in constant use, and with the most perfect mouth, on the river Ohio, as the city of Pittsburg is, safety. Mr. Orbison and Wm. H. Lewis have, in the at this moment, pursuing the windings of that river, course of a few weeks past, delivered about 1000 barand disregarding the superiority of a canal to the ri-rels of flour, shipped from Port Republic,and its neighborhood, at Georgetown, disposed of it, and paid over the proceeds to the several owners. In a few days past, they have taken about 400 barrels in, in four boats, and will be ready, in the course of a few days, to take as much more. Messrs. Orbison and Givens have built, at Port Repuplic, a large and convenient warehouse, where they will be ready to receive, (free of any charge for storage), any quantity of flour that may be intended to be sent down the river. The great advantage of this mode of taking away the produce of our farms, over the usual way of wagoning, will be readily perceived by all who will reflect that it would have taken no less than 33 wagons and drivers, and 165 horses, to have taken away 400 barrels of flour at one trip. er itself. The undersigned forbear to enlarge upon the great importance of these facts to the states of Virginia and Ohio, to the country on the lakes, and, in general, to the union of the east and west. They confidently trust that these suggestions will share, with other similar views of the capacity of the United States for internal improvement, the favorable regard of the general government. We are, sir with great consideration, your obedient servants, E. Whittlesey, Thos. R. Ross, J. S. Barbour, Jas Johnson, J. Sloane, Edw. Livingston, Dan'l P. Cook, C. F. Mercer, T. P. Moore. To his excellency the president of the U. States. Little Rock, (Ark.) Feb. 22, 1825. The acting go vernor has granted a farther respite, until the 4th day of April next, to Mad Buffalo and Little Eagle, the two Osage Indians, confined in jail in this town, under sentence of death, whose execution, pursuant to a former respite, was appointed to take place on Thursday next. PRINTED BY WILLIAM OGDEN NILES, AT THE FRANKLIN PRESS, WATER-STREET, EAST OF SOUTH-STREET THIRD SERIES. No. 7-VOL. IV.] BALTIMORE, APRIL 16, 1825. [VOL. XXVIII. WHOLE NO. 709 THE PAST-THE PRESENT-FOR THE FUTURE. EDITED AND PUBLISHED BY H. NILES, AT $5 PER ANNUM, PAYABLE IN ADVANCE. APPOINTMENT BY THE PRESIDENT. Rufus King, of New-York, to be envoy extraordinary and minister plenipotentiary, to Great Britain, in place of Richard Rush, appointed secretary of the treasury. DESULTORY FACTS AND REMARKS ON COMMERCE AND PRODUCTION, AGRICULTURAL OR MANUFACTURED-FO Of the Since the commencement of this publication, / lishments set at work; still the demand was beyond it does not appear that there ever was so great a the supply. It is estimated that the consumption of stock of matter proper for it, as there is now to ren- American cotton, in England, during the year 1824, der it USEFUL, though the task of registering it is a was 410,000 bales, and, from the stock on hand on humble one. But the quantity is so large that it is the 1st Jan. 1824, it was supposed that there would not an easy thing to determine what should have be a considerable want of it to supply the consumpprecedence. We could profitably fill two sheets a tion of the current year, even admiting that it should week: and the progress of population and improve- not exceed that of the preceding. Hence the price ment in our country, will require, at least, so much kept pretty gradually improving until about the 1st room to keep pace with the proceedings and events of March, when the apprehension of a scarcity gave that interest us; and which should be preserved for a start to speculation. There were only 80,000 bales future reference and examination. at Liverpool-it was presumed that the increased consumption would equal that quantity; and choice parcels of the "Boweds" and Orleans were sold at 16d. sterling per lb.-other sorts are proportionably high; and it is thought that this price will be maintained for some time, for the stock on the continent is short, and the home consumption, in our own factories, will probably be about 150,000 bales for the present year. Besides, the supply from Brazil is much less than heretofore. The effect of the advanced prices at REIGN AND DOMESTIC. The late arrivals from En-New York, was great-it is estimated that the mergland at New York, &c. bringing accounts of the ad- chants of that city were profited by them in the sum of vanced prices of several great commodities-such as three or four millions of dollars, for the stock of cotton, iron, sugar, coffee, spices and tobacco, car- cotton, coffee, &c. was exceedingly large. ried us back to former days of speculation, when many first, the quantity was supposed to be 10 or 80,000 were rendered independent by the business of a day, bales, a large part of which changed hands, rising from and others lost that which they had. Expresses were 17 to 20 cents [for uplands] to 25, 26, and 27 or 28 cents sent east and south in anticipation of the mail, and per lb. and some at present is held at 30, The same even yet the news cannot have reached the extreme effect was produced at Boston, Philadelphia and Balpoints south and west, and advantage is still to be timore, but the supply at those places was not so very taken of the prompt information thus afforded and large. Many persons are believed to have made from obtained. It is hardly worth while to stop and en- 50, to 100,000 dollars in a few hours. The sale of quire whether it is morally honest to make bargains British cotton goods, in large quantities, was suspendunder such circumstances-for there is JOCKEYSHIP ed for several days-the holders did not know what in all human things, whether of faith or practice; and to ask for them; and domestic sheetings, &c. advancit seems conceded that persons may make lawful proed from one to three cents per yard, or more: for No. fits out of their less informed or ignorant neighbors 15 cotton yarn, which had been selling at 35 cents, and friends-or, by address and management, obtain 45 were asked. The prices just stated are still kept victories over opinion, or matters of belief, for build-up, though only a few regular sales are making. If they ing up their own fortunes or the advancement of are realized, it is computed that an advanced profit of their own notions, even as to things of the most so- about seventeen millions of dollars will be made on the lemn importance!- -yet, I must be permitted to doubt the rightfulness of bargains thus made, or victories so gained. There is deception in them, and a cold calculating power is exerted whose principle is based on the worst passions of the heart. The simplicity of the truth will not admit of them, and the welfare of society is put at hazard by such speculations; but it is well known that [some] lawyers and priests, as well as merchants and manufacturers, with traders of every description, and the "whole herd of politicians," practice on this principle-"there is no friendship in trade." My opinions, however, do not constitute matters of right; and, perhaps, the vigilance, caution and industry which such over-reachings tend to promote, may counterbalance the evils imposed. But it will be useful to collect and publish some of the various interesting facts on which these late speculations were founded, or which have been brought forth in the progress of affairs, with occasional notices of other matters pertaining to commerce and production, though not immediately connected with the rise of prices for cotton and other articles. cotton held by American merchants and planters, at home and abroad-the amount of which is supposed to be 500,000 bales. This is a very "pretty thing,' and will help us along handsomely; but it may be lost again, and much more, by over-production. A want of the article cannot last long. It appears, by accounts from New Orleans of the 22d ult. that 130,000 bales had been received during the present season, or 47,000 more than had arrived at the same period last year. It has been, for several months past, known that iron was getting scarce in England, from the greatly increased consumption for domestic purposes or foreign supply. To encourage the importation, the duty has been reduced from 6 or 71. per ton, to one pound. Hence there was some speculation with a considerable rise in price of this article; and, as many of our furnaces and forges which were suspended, are at work, the iron-makers will come in for a full share of the general profits. There are orders in Philadelphia for large quantities of pig iron to be sent to England! This is an event that no one expected The great demand in England for cotton and other a month ago, notwithstanding the projected rail roads, goods, for the supply of the Mexican and South Ame- &c. &c. would require enormous quantities. All the rican markets, has, sometime past, caused every manufactory to be pressed to its utmost power of pro- *This profit, however, is yet to be realized, and duction. Many were kept a-going day and night, by whether foreigners will pay it or not, is to be ascerdifferent sets of hands, and a number of new estab-tained. See note at the end. VOL. XXVIII.- -7. |