February 27, 1861; The Charleston Mercury
We call attention to the movement now on foot here, to establish a line of steamships with Liverpool for purpose of direct trade. It is a step forward, and one that is needed. A Revenue Tariff and Free Trade will rid the Southern peoples of Northern monopolists in manufacture, and enable them, to buy where they can buy cheapest, and to sell where they can sell to the best advantage in the markets of the world. Direct trade with their great customers of Europe, and with those who furnish the commodities we require in return – free from the levies of pampered manufacturing and factorage, which have so enriched the North, and so damaged the South – will restore us to our natural prosperity and respectability amongst the countries of the world.
Norfolk, Charleston, Savannah and Mobile have been but suburbs of New York, Philadelphia and Boston. These Northern cities have carried on the foreign trade for the Southern cities. Instead of receiving direct from our chief customers in Europe, their manufactured commodities in return for our agricultural productions, shipped direct, the Government of the United States has intervened, and by unjust Tariffs, first has prevented us from receiving the manufactured products of our foreign customers at lower prices, and compelled us to take Northern manufactures from Northern cities at higher prices; and, second, it has not only spent the money collected by the Tariff in Northern cities, but also, by United States Banks, made Northern cities the centres of credit. It has endowed them, by the capital of the Government, with artificial resources of commerce. It has made their citizens the factors and middlemen of all great mercantile operations, a business of immense profits and little risk. By these means, capital has been accumulating for a half century in Northern cities, and with it the increase of population which capital always produces; for capital is nothing but the wages of labor accumulated; and in order to increase, must continue to employ labor. Hence the rapid growth of Northern cities, and the lingering prosperity of Southern cities. In the Union, with the fixed policy of the Federal Government, there has been no hope of increase in our cities, corresponding to their natural advantages. The Northern cities have already the advantage in the accumulation of capital – for it is an axiom of trade, that, with equal advantages, the larger capital must undersell the smaller. Our trade, therefore, in the Union has been hopelessly colonial. Our natural commerce has been annihilated by the artificial channels of trade established by the Government. When the Constitution of the United States was adopted, the commerce and shipping of Charleston was greater than that of New York. Without the partial interference of the Government to our disadvantage, Charleston would have flourished and grown as much as New York. How, with the diversion of commerce, New York has expanded and Charleston remained stationary, our readers can carry out the sickening comparison.
But now we trust the cities of each section will be placed in their natural position, free from interference of Government, and with free trade. Our union with the North is ended – let Charleston and the other Southern cities resume their natural commerce – let Charleston import, directly, from the great consumers of our agricultural productions throughout the world, all those manufactured commodities which they produce and we need – and a mighty change must come over the prospects of our city! Within a year, our merchants have seen the disposition of Southern men to buy at Southern ports. Charleston may not only import for South Carolina, but for a vast portion of the South, of which she is the natural emporium. Our late colonial and tributary commerce with the North should cease; and a mighty free commerce arise in its stead, with all portions of the world. We should now have our own direct trade as before the Revolution, with all the proportionate prosperity it then created. Capital will come where it can be used to advantage. The agents of the great manufacturers of Europe will in time be here, with their goods in our bonded warehouses. Great jobbing houses will accumulate. The city will be thronged with strangers and will bound on in the highway of prosperity. Real estate must rise in value. The toil and ventures of a few years, with our merchants, should hereafter give them more than now the anxious labor of life. Our banks, disconnected with the North, may no longer be embarrassed by its speculations or panics, and will in time do an immense business in every line. Our Railroads will increase their transportation and advance the value of their stocks. Our mechanics, and laborers of all kinds, will find ample employment.
This is the bright prospect immediately before us, if the peoples of the Southern States understand the political economy of their position, and establish a Revenue Tariff with free trade. This is our beginning future, if we but put our shoulders to the wheel of progress and help ourselves on to that prosperity which is within our grasp, by the prompt establishment of Direct Trade with European nations.