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Kentucky Gazette
Lexington, Fayette County, Kentucky
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An American merchant in London writes to a friend in Virginia on October 11, 1820, warning that increasing tobacco production in the Southern states will drastically reduce prices, suggesting a limit of 60,000 hhds. annually for better returns. He also counters concerns about Britain's political state, praising its financial management despite the large national debt.
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'LONDON, Oct. 11, 1820.
You speak of increasing your crop of Tobacco to more than double in future; others, throughout the Southern states, will, no doubt, aim at the same thing, and the consequence will be to reduce prices down almost to nothing. If your exports of this article could be reduced to 60,000 hhds. per annum, that quantity would net more money to the shippers than double the quantity would render them; but I am aware of the impossibility of any limitation of the kind. As to the political state of this country, I think you are wrong in your conclusions. The National Debt is certainly extravagantly great, but the finances are well managed, and there is not so much corruption allowed to pass with impunity as there has been in younger countries. Fraudulent management of public concerns would be punished with great severity in this country, and the actors in such disgraceful conduct would be turned out of all society, and held in contempt by every one.'
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Letter to Editor Details
Author
An American Merchant Of The First Respectability
Recipient
His Friend In Virginia
Main Argument
increasing tobacco production will lower prices to nearly nothing; limiting exports to 60,000 hhds. per year would yield more profit. britain's national debt is large but finances are well-managed with low corruption compared to younger countries.
Notable Details