Newspapers / The Durham Recorder (Durham, … / May 4, 1838, edition 1 / Page 1
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N - i UNjON. THE CONSTITUTION. AND THE LAWS THE GUARDIANS ,,OF OUR MRERTY. Vol. XVIII. FRIDAY. Jt.tr -I, I S3 8. 7io. 010. DEB ITE IV THE SENATE. .TIr. UVIm.c r' 2d sprecb, Oa Us e-Trarj DUU . . Mi.rV ft ISW ' Mr. Phesibkst: Having at an eailr tl,ee of die debate expree.. in a general aiv ncr. mr oppoii.w to il.i hill. I mun find an P',, f',r e addressing the Senate, in lb aekwrdgd imrriane of oV raeanre. 'be vwvelty f iu eharae ler, and the diiion f (ini-j respecting ii l.irh is known lt exist in both Houses tf C.mgre. To be "hie, in !! nf ihinf . to irt a preponderance in that side i.f ihe c ic.tiin which I embrace, iy peihap, .1 . f .lAl - I. ..MAS .... t -I - ...ft mare I'll" m-'i-, frsj that I h IT' ',,n H h'rh wy duty demm I. until I m.e another effrt. Pie fine iin i this I .ovrroinenM l . .7 - ..r .... n.. (T.Tt ih Inp'ineaa of thn Pop!e, are ! lV w'lieH re-pM?t ron iif rf e an I retr-1 line. I lie (' wiwrc w l'wur vnh j lhie ct- in!eiet. II prxpneea lit art ! ififprilv n t' i'enii and rtpend.hire nfR'trnnrnt, and it iaeipecteil Hart. i!i, ind-reeilf . oi r-immerre and rnrren rv; fnle iu friend and it;ir tnrr al tift!ier ahtnii fmn oilier mMnre, remd bv a f reit portmii of l?otire ml of ih fomtry t i b in lipen4hly !r'ai!y aeefiil in it actual oierahm. dcntndeil hv i!i preeil ettifieni'r. j We lie f-un 1 oe.i.iti t.i rrene mi We hate arritd. Mr. I'rcaidtnt, ! !JilTfrpnce bftren I rrn!npnl an I IVn wtf(!thi,I'eofafia!fr-rn'ury front the ! d hetaren mooter for revenue, and lpti m of lit Conntitmi'in, During ! mmey fur t'e jeneral ue of the runntty the pMrf of ih- yeara, our po;ml. j Until the e.niimtnrenenl of the Ian ti.iti hs inreaed frm.i three or Aur CJ-irerninPnt had manifeaieil ni milli'in to thirteen or fonrifeo million: diap witinn tt Imik ut f.r itvr'f eilu our Crttnofrre, fr.rni little or nothing, to -aitely. What an good enooj;h f.ir the an escort of a hundred and ninety mil- people. t ronj enough for C'tvern lion, and an import of hundred and , men. No endraif ndmf and eraemu Iteiitv-'iaM nd a half million, in the j prefernre had, kef ire that periml, eer year tM6. O ir merrantde tonnje ap- bfen tnileref tip member of Cutigrr, prnaehe neir lot wo million. We hie ( oer other peron having claim pon a reemc. d an etnendmtre. of thirty I "He pnhli fund. S ieh a in.iil million a year. Th mannfariurea of , lacje had er been eshttiited, aa an the country he attained rrv great ' amirahK diitereeiri!, nnd patriotic tin i npnrtanee. and, op to the fonvneoce-' d-tiandtnc, orteen ihoe hn aie to meat of the ileramjeinent of fie rinrrnev, j ote tase on the ?epli, for the purpme were in a propero. and roina maii;. ; of repleihini the Treaury, and thoe The produce of the (Wieriee ha heroine ! who. from Trea irr, lipne the a; and the general production of the ; mnney hark atfiin amon i!io! who have l.iMtr anl capital of the country t increa 'claim on it. It that ri'prrt I think :n f, hevnnd U eaamiile in other coun- i the Serrciary itatul !one. lie i the '" . ' . . . . i or otVr lime, and has already ' trie. ,.,eh.l n amount which, to thoae who ' have not invratigated the ur j.ci, would ! rem'incredible. The c tmmrree of the United Stttes, lir, it spread over the gloWe. It pnrauc the lw maker.-thoe who hold the iuobjecttin all ea, and find it wav i lax-laf ing power; the firM whn.e great into everr pnrt which the law of trade deference and cordial regard for mem do not hui gnnt it approach. With ; her of Congress have led him to provide all the diaadvantages of more cnmly ! for l'tcm. the medium of paymrnt and mateii d, and of biglier w,!'. and olten ' recript, something more valuable than t in de.pite nf unrqual and unfavorable j provided, at the ame time, for the army, commercial regulation of other State, the navy, the judge, the revolutionary the enterprise, vigor, an l economy -Inch pennmer. and the varinu rlaMes of U Jmingumh our naviguing intereat, ena- j birer in the pay nf Government. b'e it to ho our fltg. in competition! Through our whole hitorr, ir, we wiih ihe inn! fiv.ire.l ami the oio.t .kill r.i .i .... ..t .i.. I Oil. IO IIIC ..ri.!!. U -IWIH "I III l'l . "I , 1 1 the mean time, internal activity d e not la nor Inter New and tieh.l ,t."r f.e,l,..ra of transportation are established, r are in ; nt.xr.ii .i.iviili.r PiiH'tc tvnri.4 ire , proj-cted and pushed forward tn a spirit.! winch g'aps at luc'i end sl objects.' with a bold defiance of all expense. The agircjjve vslue ..f the property of the country is augmented dtlv. A constant i!c nm I for new capital exists, although a debt has already ben contracted in Ivirope. f..r so n advanced to tjtes, cor pr;iiiou and individuals, fir purposes eoin-'cted with internal improvement; which ileht cannot now be le than a hundred million of dollar. Spreading over a gr at extent, embracing different coinatcs, and with vast variety of pro duct, we find an intensely excited spirit of industry and enterprise to pervads the whole country; while its external com merce, a 1 have a'ready said, sweeps over all seas. We are connected, with all commercial countries, and, most of all, with that which has established and .... . 1 I . L ... ..1....aa a ta ill f aailllslIJirU IRC lTl'i ialllliTIIUeit vaaaviae m a a cnmmer-e and manulaclures, ami which collects and disburse an inoredihle a mount of annual revenue; and which uses, in this end. and as means of urren ey and circulation, a mixed money of metal and paper. Such a mixed system, sir, ha also prevailed with us, frm the beginning. Gold and silver, and convertible bank paper, have always constituted our aetud money. The People are used to this j stcin. It has hitherto commanded their r.ontUenre, anJ fulfilled iheir expecta tions. We have had. in succession, two national hanks, each for a period of twenty years. L ie d or Siate bank h ive, al ihe same time, been in operation; and no mm of intelligence or candor can deny nt, during these forty year, and wiih 'e operation of a u'anouil and these 'ate institutions, the currency of the country, upon the whole, ha been safe, cheap, convenient, and satisfactory. When the Government was established, it found convertible bank paper, issued by Stale banks, already in circulation; nd with this circulation it did not in terfere. The United States, indeed, had thenrl.e etaMihed btnk. under the 14 Confederation, aH authority to ie paper. A isteni of mixed circulation, therefore. exactly that aysteoi whirl thi Constitution, at' it aj.ipii.in, found atrea Ir in existence. There, ia ant the slightest esidenee if any inten'inn, in esuldishing the Constitution. Id over throw r abolish thi system, ahhimg h it certainly was the oljeei of ihe Constitu tion to ah.dih billa of credit, and a'l pi per intended Air circulation, issued upon the faiih of the States alone. Inasmuch a whatever then existed, of the nature f money or r Brreney, reslrd fn Slate legilaiinn; and at it tMt not possible i't tt'iif- miiy; general credit, and (n eral confidence could result from I h.I and pirate ertf the ttitff, there i ri. ilfurc--1 think almndjnt cvidfnre ht it waa the in'tntinti of the frame m i.f t!e Con!iiuttn t tie t Con(reta a ri tr-dmg power over Ihf whole sui jer., tt .1.- .t... u... . l. r . .i hole rwtiry. rurrVney of auiUrn walue. CongreM haa hereuifor rmrcirrd jhhi'hj. idu iwiiint inr nrrwjmiiu in; daliea, . It ha m nnlind. for f-r'T of forty-nine, a nttional inatitu real out linn, pnreedinf fmm it iiwer, and tepinih!e ! the (aenerJ (! ie rnneni. WhH inter! of iloran'i-ineni. hMiighi a!iM bjr aar and oilier oerurrfiiee. thi while vtem. lalen a!t'j'ther, ln hren . . t: ' il : tft. o fr a 1 know, in our long ltt of able hr! of )r:nrt iient. who ha thrnuht it ttelirate and k l'fid touch. I in finanrial adminUtraiinn.tobeparticittar- ly kind and mmpUi.ant to the mtcreat of .have lonnil a converuoie paper currency. uti.lvr nrmier control, hiirhlv useful, bv "' ' I" i - its piifibiluy to circumstances, and by us capacity of enlargement, in a rrasoao:e 'degree.' to meet ihe demands of a new and enterprising community. As 1 have aireailV ,..!. sir. we owe a permanent debt of a hunlted miliums abroad; and in the present abundance i.r money in England, and the siate of d-mand here. this amount will probably !.e increased. But it must be evident lo every one, that,; . r .. .... ; . I SO long a. I a aie use i ps,r, ,rlng ine nprnunn "' " cun. give sum" reasonable expansion lo our own circulation, or at least do not tin reasoiiMhly contract it, we do, to that extent, create or maintain an abVty for loans among ourselves, and so fir diminish the amount .f annual interest paid abroad. But let mo now, Mr. President, ask the attention of the Senatt to another euhject. upon which, indeed, much ha already been said: I msan that which ii usually called the credit system. . Sir, what is that system? Why is erei a word ol an much eolid import ance, and nf so powerful charm, in the United States! Why is it that a shock has been felt through all classes and all interests, ihe first moment lhat this credit his been disturbed? Does its importance belong, equally, to all commercial States? Or are there peculiarities in our condition, our habits, and modes of business, which nib, eredii mire in Jisnensable. anJ mingle it more naturally, more intimate-j lv. with the life-blood of our system: A full and philosophical answer tn these inquiries, Mr. President, would demand that I shold set forth both the ground work and the structure of our social system, ll would ahow lhat ihe wealth and prosperity of ihe country have as broad a foundation as its popular a a a . .a constitutions, umiouoieniy tnero are peculiarities in that system, resulting from the nature of our political institu tions, from our elementary laws, and from the general character of the People. TVse peculiarities most unquestionably give to credit, or to those means and those arrangements, by whatever names we call them, which ore calculated lo keep the whole, or by far the greater part, of the capital of the country in a state of con stant activity, a degree of importance far exceeding what is experieneed elsewhere. In th old conntriea of Europe there I the Third, to tier 4ya. There are ia e rlear and well defined line letweee I thoaaad of in!iidoal. tiicrefore, whnc capital and labiw; a line which etrikea! filed inrove ariaea. awl fro the active throofh eociety wult a hotixr-ntj weep, ee of property, either ia theit oa hind leaviflf on one aide wealth, in na ea, or th hand of other, but from the in hot Jet by few hand, and tbote having ' tereat oa that part of t'i atiuial charge little pan.ripation ia the laHuriHi rotr-'ti which they are entitled. If. there, nit of life; on the other, the throne- fore, we u the term cttyi.nl not in the i( multitude of labor, with here and arne of poliiie.l eroooioy eteetly, hot there, ordy, an inatanee of eueh accu-" a implying whatever reteriie income to mutation of ear-un? a t deacrve the ' individo J. we find an almntt inealeula aawe of capita!. Tlii dxtinrtinn. io-ible cna cireumttanced a a Htabe deed, ia not nniveraal an I ahn!ute in ane ; the bai of aeiire o--raiion. or the enmnaerciai atate of Europe, and j it grawe e anl let definite a co-n- merer advance; the effect of enmmerce anJ mannfteturea. a a'l hi.tory 'i i', hcin. every where, to d lf.e weMi, ai l n it m aid it aecn-nnla:! i t in few hand, (lot (till the line i eretily m r j hroad, marked, an I riih'e in E tropean nation, than in the LiiincI State. It than in lite UnHed State. It th( nation, the gain of capital, an I wae. or the earning of labor, are nnt onlv diktinet ia id-a, a element of the ecience of political economy, but, to a ' ereal tlere. aln. ditinet in faeu'efid Uheir repectie claim, and merit, and Jmol' of relative a.lj.lTienlfc become anhjeeia nf tli-cuimt and of pnb'ie. regu- l.iion. Nnw, air, e-ery liody may ee ih.it that i a atate of thing which doe nm es't with n. We have no ieh i- ihle an I broad diinriion between eapi- lal and lahor: and much of the general happine of a! i le reault fri'ii thi. With n, lahir i eerr dav an'meming ! mean bv i ouro i?Ji!ry; not in all eae, indeed, but in very many. It .doe not require iheir own aeiire labor j a d o her labor paid; and thua the gene cuing of veierd iy become it capital, or that of other. We h u e no uh deht; J ral buine i continued in progiea. All theref.ire, of t-t-day. On the other hand, we have no uch mod of inveatnen1: and '. thi i well knnn to ihove aim hve had atlv the greater porti n of the prooTtr nf the country eiit in aueh m i'l quan titiea thil it holder cannot ditene al- meeiher with tlieir own neronal inlu. try; or if, in aome inalatice. capital he by the credit ytem i. lhat which thii(I d- e l, nowhere ha iotereit been high aeeamnlateil till it rie to what may be connect lahor and capital, by giving lojer, or liie deuia td for capital greater, or rolled aTluenee. it i ouillr diaintear a ted and broken into nartirle a in. in one or two generation. The abolition f tl.o ruhi nf r.ri no jenitnre; the .!e- acentr-f property of every aorttn fe n de a well a male.; the fheaa and er mean hv which property i trannferred and ennvefed; ih high price jif labor; the Ur price of land; the genin of our pojilical i.iiitution; in fine. eer Hung heton ing to , e tnnteraci larn ccu- . . mutation. Thi i our actual rtein. Our p iliiie. our e institution, our ele mentirv Ii. nr hiSit. all centre in thi point, or tend to thi reu!t. Fron where I nH stand, t the extremity of ihe nortlieal. tattv the grea'cat pirt of the nronertv of ihe country i in the han I and ownership of those wboe per sonal industry i emplived in ime form of productive labor. Genera! c itnpetence, eeheral educati n. enterprise, activity. and industry. uh as necr before per vaded anv society, are the ch iractcristic 1 which distinguish the puople who live, and move, and ft in this state of thing, such a I have d-rribrd it. Now. sir. if this be true, as I think it . . ' at - .1.. I-..!. .! . . . States, capital cannot say to labor and S, ail Itlti'l prrreic oa in tun uuiien industry, sunn ve yon.ier, wntie i come up hither;" hut labor and industry ; 1.iv h.ild on eanilal. break it into parcels. ' I . . - . - use it. diffuse it widely, an l instead of . leaving it to repose in us own inertness. ; co npet it to act at once as their own sti' rnnhi and their own instrument. But. sir. thi is not alt. There is an- ... a .. other view still more immediately altect- . -i . - .1 .... ..f ...... t;, I.. every wealthy conmnntty, however e. quallv property may be divided, there will always be some property-holders who live on it income. If this' property he jand, they l'"e on rent; if it be money, they live on its interest. Tho amount of real estate held in this country on lease. i comparatively very small, ex- cept in cities. But there are individuals 9n.l families, trustee and guardians, and yarious literary and charitable institu- tinn. who have occasion to invest funds for the purpose of annual monied income. Where do ihsy invest! where can they invest? Ths answer to these questions ehnws at once a mighly difference be. tween the state of things here, and that in England. Here, these investments, to produce a moneyed income, are made in bank, insurance companies, canal and rail-road corporation, and other similar n. ft . . t institutions, riaceu inns immeutateiy in active hands, this capital, it is evident. becomes at once me oasis oi ousiness; u gives occupation, pays labor, excites en terprise, and performs, in short, all ihe function of employed money. But in England, investments for such purposes usually take another direction. There is. in England, a vast amount of public stocks, as eight or nine hundred millions sterling of public debt actually exists, constituting, to the amount of its annual interest, a charge on the active capital nnd industry of the country. In the hands of individuals, portions of this debt are capital; that is, they produce income lo the proprietors, and income without la bor; while, in a national point of view, it is mere debt. What was obtained for it. or that on account of which it was contracted, has been spent in the long and arduous wars, which the country has sustained, om the time of King William To u!utrte tht i lea further, air, let a upp-Me that, by nmw occurrence, (.awch a i eertainle oeter to b etpert- ed, ihi deht ahould lie paid off; o;piMe it hi! lr were to rstire, Herni, their frll ammntr; what would tli. y 1 with theio? Whr. air. if they were !! ted to loan the one-uaiter part into the Itauucol the mouatrtoua cuse. tor .te hand of the inilaatriou ruse, .r purpnr of employment in active hui ne; and if tht operation could be ao eomp - tnied by the true im lliuee and induatry among the people which prevail with u. t'i reu!t would do more to- ward raiin the charaeier of the labor ing cie. than all ihe reform in Ir. iiament, and nther general political o;ie- ration. It would Is a. if thi ileht hd never been contracted; aa if i!i m mey hd never been peui, and no rem ined prt of "ihe activo eaptul of the eouiiirv, emplovrd in the hu-iuea nf .fe. Ilut '' debt, ir, ha created an mormon amount of private propenr, upon the in- come of which it owner lire, which this riicuniunee give n iii a ditrerent apect and a different reality to our eon diiion. Now, Mr. Preaidenl, what I understand ) labor the we of capital. 1 1 other word, j intelligence, gO'id character, anl good ora!, be.tow on lhoe who have not ; capital, a power, a irnat. a r.iufidenee. ! which enable them to obtain it. and to employ ii mefully for ihemaelve anil oth- er. I'noae a titre men of hii.inrs budd tVir hope of uccei on iheir attentive n. their econooty, an I the;r integrity. w er t ie;ltre lor uaetm aetivny it tin d r their leet, an I around them, than wa i . a a . . ver apread before the eye ol the young j and enterprising generation f in-'it, on j "i ""''cr enlightened by ihe sun. ! B-'fore them t the ocean. Evert tiling! in that direction invite the n in eff.rH enterprise and induatry in ilie purmiit of , commerce an-i me nsiiertes. Annul ; thein.o i itii Hand, are t'lrmnir ani pros-s perms ini'MUciures; an improving agri culture, and the daily presentation of new objects of internal improvement: while behind ihem is al.iit half a continent of the richest Ian I, at the cheapest prices, under healthful climates, and washed by the most mtgnificent rivers that on any p f 'be globe pay their hnm ge to the se. In ihs midst of all these glowing .n.l i.t.k.1111. n..nA(l. t ti ii ci . . n.ilK.. "".-''.v., .... j n.o ......v. . . . restrained by ignorance, nor smitten down 'r ion re...7 ... pc...... i...v..,.,..,i,..l-.. T hey arc not compelled to contemplate. in hopclesnes and despair, all the ad . . i vantages mus oesioweu on uieir coiiuiunn ty I'rovuienee. oapuu tuoiign tney may have little or none, credit supplies its plane; not as the refuge of the prodigal and reckleas; not as gratifying present .1- .1 ... .re. wants wiiu ine ceriamiy ot nuurc auit- Inin ruin; hut as the piiiu. nf hiinnrulili. - ....... trust ann connucncc, me mesiinj, luntarity offered tn good char ictcr and to g''d conduct; as the benelfccut agent, which assists honesty and enterprise in obtaining comfort and independence, Mr- President, take away this credit, and what remain? I do not ask what remains to ihe few, but to the many! j'fake away this system of credu. and then I tell me what is left for labor and indus- try, but mere manual toil and daily drud gnry? If we adopt a system thai with draws capital from active employment do we not diminish tho rate of wages? If we curtail the general business of society. does not every laboring man nnd his con dition grow daily worse? In ihe politics! of the day. air, we hear much said about j divorce: and when we abolish credit. 1 .1. .11 .1. I.k... f....n ni.ii-.t. ia.nl wn pll'ii. ui.iiim ,flwi, ,i.rii, vnj.itwi, iteDeiid on it. sir. when we divorce la. bor from capital, capital is hoarded. and labor starves. The declaration so often quoted, lhat " alt who trado on j borrowed capital ought lo break," is ihe; most aristocratic sentiment ever utter-j ed in this country. It is a sentiment which, if carried oiit by political arrange; ment, would condemn ine great majority; nf mankind lo the perpetual condition of! mere day-laborers. Ii goes to tfce away from lhm alt that solace and hope which arises from possessing something which they can call their own. A. man loves his own: it is fit and natural that he should do so; and he will love his coun try and ita institution, if he have some stake in it. although it be but a very small nart of Ihe eeneral mass of property. If it be but a cottage, an acre, a garden, its possession raises him, gives him self-respect, and strengthens his attachment to his country. It is our happy condition, by the blessings of Providence, lhat tl- mot erery nan of aonnj health, indue- J ha trioca bab'U, and food aaoral. ran eedt-!a! D.rur auam mi ira.i, 10 im erfrre Oi comfort and reapectability; and ii i a re coil devoutly to be withed. both fir ita tnd:Mua: and ll general eonaeqnenee. But even to thf degree of aequiaitioa. that credit. f which I have a'n-a.!y aaij ao much, (a it general effect ia to raie the price of wage, and reader industry produetire.) it highly important. There i no condition an low, if it be attended ith indutry and economy, which tliio jcreuti diea not benefit, any one will find, if he will en hine and foiltw out it operation. Sucft. Mr. rieidea.' bein the credit vtem in the UniieJ St4tra. a I under- et nd it. now add iht the bank have teen the aem and their rireuaiin the tnirumeil. hy which the general oer4- lion of thi credit have bten conducted. M ieh of the capital of the country, pla ced at in:eet, i veateJ in bjnk atnrk, and lh e who borrow, borrow at the bank; and diconnt of b IN, and antiei. ripatioii of payment in all it form, the reu!araml appropriate Uity of bank, prevail univer.illy. ! the "North, the hvik have enabled the titniifa-tnrrr of all claetr to real ize the proceed of their induatry at an early moment. The courao. I.aa been, that the prMieer of eorKirioditie for Sont!:ern C'lnmuipiem. tiavinnlepittrh ed their product?, draw their bills. vThere b 11 aredicounted at the ha;ikatanl-uh the proceed other raw me'erial ia Sought, opportunity lo be acquainted with turn concern. Hut bank credit ha not been more lie- cery to the North than tn the Sowh th ll Jie-iefi. of credit roire tndif pent, hie. than in the new Cot. tn. and ugar. growing atate. I aak, gefftlcuien from oe tatea H Una lie not iil llae nm the pltniaiioii been bought, and the Tie- cearv labor-procured to a great ritent on credit? Ha not thi credit been oh lained at the btnk? Even now do ihev not find credit, or advances on their crop, important in enabling thrtn to get thoe cr ip to market! And if there had 1 I. . .f L, . I been no credit if a htrd-money eyaiem hd prevailed, let me aak them what would have been, al this moment, the condition of thing in Alabama. Louisi.i- na, Miiippi, and Arkansas! These states. tr, with Tennessee and the South aimuiic oiaies, consilium me grrai pian lauoti inieren. Thai there has been a va-l demand for capital lo be invested in this interest i sul5iently proved by the high price paid for the use of money. In my opinion, sir, credit is as essen tial to the great expnrt of the south, as lo any other interest. The agriculture ol the cotton and sugar-producing states par lakes, in no inconsiderable degree, nf the nature of commerce. The product and sale of one great staple only, is an opera tion essentially different Irnm ordinary farming pursuits. The exports of the south, indeed, may be considered as ihe aggregate result of various forms and modes of industry, carried on by various hands, and in various places, rather than a ihe mere product of the plantation That product itself is local; but its indis pensable aids and means are drawn from everv part of the Union. What is it, sir. lhat enables southern labor to apply itself so exclusively to the cultivation of these great articles for export? Certainly, it is so applied, because its own necessities for provision and clothing are supplied, meanwhile, from other quarters. The south raises to sell, and not to consume; and wiih the proceeds nf ihe sales it sup plies itself with whatever its own con sumption demands. There are excep tions; but this is the general truth. The hat-makers, shoe makers, furniture-makers, and carriage-makers of the north. ihe tpinners t Lowell, anJ tin- WNtrri; a PlftS!..itAtntii. r all 'intrihiitiir. lift tlipi - - - - -j I general product both of cotton and sugar. r, Hunrl ahrnail! mm are I lie live-slnck ! raisers of Kentucky, the gram-growing " . - - - - . firmers, and all who produce a nl vend provisions in Indiana, Onto, and Illinois, Tin. n.triliorn nhm.iiiiipr :iud the ioari- i . - - - - . ner, who carries these products lomarKei. are agents acting to the same end; and so are they too who, little thinking of cotton- field, or sugar estates, are pursuing their, adventurous employment in ihe whale fisheries, over ihe whole surface, and among all the islands of the Pacific and the Indian oceans. If we take the annual cotton crop ai naiy hioih.ii ... u-m..., we may, perhaps, find mat ine amount ot, torly-hve millions is expenueu, enuer iur interest on capital advanced, or for the ex pense of clothing and supporting labor,. or in ihe charges which belong to the household, the education of familiea, and to the domestic expenditure of the pro prietor. Thus. sir. all the laborious classes are, in truth, cotton-growers and sugar-roarer. Each in its own way, and to the extent of its own productiveness, contributes to swell the magnitude of thatenoratous ex port, which was nothing at the commence ment of this government, and wniett now ran cp to o many milliona. Tf v ; H tlic operatioaa the eirrmr VrrJ t ha roaataatlr flvweil. and tr.fr 1 r one of tliem that will pot be f heel ed and intcrrepted. emharraased, and thearie, if fhie atreana be near dried tip. TW eonnesion of the earioue inieresi rf the country with one another fbtma ts portant and intereeiing topic. It ia one af the natural lire of tlie Union. The ri eiv of orodunion. and aaatual want 't-r: taally anpplied. ronaUtale etroeg beiwcea different elate; and Ion riuy that bond laet, crowing with their fronts and airenghentng with their etreegthv . Cat, Mr. President, lhal portion f opr -t proiletion whieh takea the form of et- port, beeoniea dt:t ict and iUe; it ie prominent and atriktng. and r ? wondered at. by every body. The annual return all ahow it. atwletery day'e ccn- , t mercid intelligence apeak I. U. We gaze at it with admiration, and the world . i no lei admiring than oirele. : Wiih other hranrhee of indutry ihe cae t quite different. The prodnct of ihetf branche. being put in the Train of dimetie eichargr, and cooaumed in the . ' country, do not get into atatiatieal table, are n.-t collected in mae, aod era acl ' dom preaented in the aggregate, to the publie iew.. They are rot f the eh a. -racter of a few lane and mighty rir r. . but of thnuaand little atreama, meander , ing through all ihe fielJa of buioe. and nf life, and refreahing and ferubzirif'tKt whole. . "f ' Few of us. Mr. President, are aware , "'what would be Ihe amount of uie ge- ... . ' pared and rnjb!iLeiKrfp,w, Vt , diiioa and jo!uci it industry, lor tna je. , 1637. The returns of the audr..; iu. each city and town were made, apparent ly, with mych care; end the whole haa.1. been collated by the Secretary of Slat. t and the result distinctly preaented in well- arranged statistical table. From g S'.j:n- mary of the siateme.iis in three tables, t will take the liberty of selecting few r -tides, and of adverting to theia here, instances or specimen, of the annual pu duet oi labor and industry tn that fiat. ' . And to begin with a very neeeary and . important article. I find, that f yv and shoes, the valueof the whole amount V manufactured within the year escJ . fourteen millions and a half of dollar. If j ihe amount of other articles of the astse C class, or material, be added, vix. leather, saddles, trunks, harness, fce., the: total will be not far from eighteen millions and -a half of dollars. . - . . 1 will read the names of some other ar ticles, and state the amount of annual pro duct belonging to each: - Cnttnn fahncs . - f 17,10 J,(5ftrit ' iVon'len f.ibrica 10,3d 000 '." fishnriea v. T.SHJ.Out B'Hik and atttio ittry, and paper ..5Bi,i)001 S-op and ramlira l.tii'.OOft- Mail, brad and lack - S.ii.u.imu .' M.icninery of varum kind ' t,Ji(K3(J Agricultural imp tment 64)000 ej i.ooo ; ' - . 7U0 000 Clothing, neckcloth, $c ' 1 2 otsooo " ' - .539 009 ' "' These, sir, are samples. ..The grand-' total is ninety one millions aeven hundred : thousand dollars. Front this, howeier, " .' deductions are to be made for the coet of the raw material when imported, a xl for ; certain articles enumerated under diAerV ' enl heads. But. then, the whole state ment i confined to aome brart h a otUo- , dustry only; and to present an entire end "' comprehensive view, there should la.d- , ded the gains of commerce within the ' year, ihe earnings of navigation, and al- " rami ihe whole agricultural product of the state. - - : The result of all. if U eoutd be collated and exhibited together, would show, that -the annual product of Massachusetts ra ' ' ptial and M tssachusetis industry rxci?i out? Iiumlreil miUinna of dulUr. ,a. iJ - ... St.. .1. ....... . - . ti . - i?- ir, .u-'inni.eru .a amaii tiate. tn ex. IPnl f territory. You may mark out f er ,l;..,a.. ... . ... ... i ui i n -i t ' . . .i . i w.viii ifin.. rtn tfm ,,, f Virginia. Yet her popu!arinn ia even hundred thousand aouls; and the V'i annual rretili tf their labonous 'iuduatry'''' ' " V ..... .... .ml I.K... 1 . . ' ,! ........ ,v mm g itae SHated. ss tir. freaident, in .n.km nvr Si. ... ,,, w tuost gratifvinc u On ! ih. great mass cmisisi in ariicie. Mt,.i ... - genital and useful lo alOa-.see. --"the A- - are not to niries. but necessaries ao ! .ni rW. They belong m fiMd p'...is,njf ' t0 household conveniences, awjCajuca J tion. A they are more and M,. e,n! upneu, u) greai ra.tjority t,f aoe;etv b cmes more elevated, hewer iiiMrucled ami nappier in all respects. I-have l.k- -- cu uirougn mis wimia list, tr, to find what there ia in il that miijhi ho f r- classed amon; the higher y '. ;. -and what do 1 End? f , - . t . . a . " - dred lailitoiis. snd that U a n't km , dred thousand di!tv ; f er, and silver plate.' brionifs lo luxury, in K.. i . iiouui, mc tar greater portion aoroaa. Alia yet we hear tas aassasiag af aristteri i -sawaeaaav- --w-.. 's.-s., 'tsi a m.. 1 threw huiv--ii"; ' 'I I Thi ! .,i . . . -v. . -A I I at . i i
The Durham Recorder (Durham, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
May 4, 1838, edition 1
1
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