Blackwood's Edinburgh Magazine, Volume 69, No. 423, January 1851Various
History
Blackwood's Edinburgh Magazine, Volume 69, No. 423, January 1851
Various
England -- Periodicals; Scotland -- Periodicals
What is there wonderful in this? Was it likely that a country,
possessing within itself the raw material in abundance, and, so far
as cotton was concerned, having a virtual monopoly of its growth,
should for ever refuse to avail itself of its natural advantages,
and to stimulate agriculture by giving it that enormous increment
of consumption which must arise from the establishment of domestic
manufactures? Does not common sense show us that, the nearer the
point of exchange can be brought to the exchanging parties, the more
advantageous and profitable to both parties must that interchange
necessarily become? Unquestionably it is for the interest of the
American planter to have the manufactory brought as close as possible
to his plantation, seeing that thereby he would avoid the enormous
charges which he bears at present, both in land carriage and
freightage--charges which, of themselves, go a great way towards the
annihilation of his profit. Add to this that those charges on the raw
material necessarily enhance the price of the fabric when converted by
British machinery, and again transported to America, and it must become
evident to every one how largely the American planter is interested in
the foundation and success of American manufactures. The interest of
the agriculturist is equally great. For him a steady market at his own
door, such as extended manufactures alone can give, is the readiest and
most certain source of wealth and prosperity. What he wants is regular
consumption, and the nearer the customers can be found, the greater
will be the demand, and the more profitable the supply.
We need not, however, argue a matter which has been already settled on
the other side of the Atlantic. It suffices us to know that, in all
human probability, America will persevere as she has begun, taking
every advantage which we are foolish enough to give her, and yet
adhering to her system of protecting domestic labour, and of riveting
more closely than before all branches of industry by the bonds of
mutual interest. Such clear, distinct, and philosophic principles
as are enunciated by a late American writer make us blush for the
confused, absurd, and contradictory jargon which of late years has been
proffered to the world, with so much parade, as the infallible dicta of
British political economy.
Public-domain text, read in full here on John Shaqi.
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