Press enter after choosing selection

Trade With The South

Trade With The South image
Parent Issue
Day
3
Month
November
Year
1841
Copyright
Public Domain
OCR Text

Inquinesare trequently mane a3 to the extent of the losses ncurred by Northern men, dufing the past few years,bv trading with persons in the slaveholding States. vIt is impossible to ascertain with accuracy. - The tfüth, if known, would astonish tbe people of the North. Tuke one place - Newark, N. J. - for example. No town or village or city in ihe United States, perhaps, apparently thrived to a greater extetit llian didjthis beautiful city previous to the great failure in 1837-8. Her trade was principally with the South and South West. In one year, we learn from an undoubted source, the amount of goods and manufactured arlicles of various kinds, sold by Newark merchants and manufac. tures 'vas ten millions of dollars'. VVhen the revulsión took place a large part of the paper was protested. It is believed that at least ten millions of dollar?, protested paper was returned. Now.the largest proportion of sales from Newark was to the State of Mississippi. The loss on such paper has averaed, it is believed, more than 75 per cent. Calculating then that 10 millions protested paper came back that five millions ofit was Mississippi paper, that the loss on this paper was 75 per cent., and that the loss on the balance avernged 50 per cent. hovv will the account stand? Answer - Sixanda quarter viillions of dollars, dead loss!