The Northern Daily Times.
Liverpool, Merseyside, England, 1853-12-22 00:00:00

We shall return to this subject, and in subse
quent articles show what is really required to pre.
Tent the evil.

THAT portion of the President's Message to the
Congress of the United States, which relates to
the Reduction of the Tariff, is of the most imme-
diate importance to the trade of Great Britain.
As a concession to the Free Trade policy of
England, a modification of the American tariff
can scarcely be overrated in a political point of
view. By extending great principles, the most
enduring institutions become consolidated. The
legislation of one country ceases to be experi
mental when its views are recognised and adopted
by the matured perception of other nations. The
Protectionists of America, and the most rabid
monarchists of Europe, both united in the most
solemn protestations against the Free Trade doc-
trine of England. Every nation was taught to
believe that Free Trade was a means whereby
England must rob all the rest of the world, and
thus our amiability of purpose would be accom-
plished before any one could be aware of. the
hidden depths of the design. But, lo ! on a
sudden, men begin to find that the first Free
Traders are taking the lead in the world's com-
merce —and what is the result? The Zollverein
have modified their tariff--France has reduced
her import duties—Belgium, in obedience to her
growing necessities, has reduced her import
duties on coal Brazil is also preparing for
extensive measures of Free Trade —and the United
States now find that they need a relaxation of the
fiscal burthens on trade and commerce, more
perhaps than any other people in the world.
The President of America points to
Free Trade as almost the only means
by which the springs of artificial productions
can be kept in motion. " The plan sug-
" Bested by the Secretary of the Treasury is to
"reduce the duties on certain articles, and to add
"to the free-lists many articles now taxed, and
"especially such as enter into manufactures, and are
" not largely, or at all produced in the country, is
" commended to candid and careful cOnsider.
" ation." Here is a triumph for the men of Man-
chester. They have established a principle of
political economy, on which alone one of the first
nations of the earth can hope to continue its
progressive greatness ! Surely, " Protection" and
" Protectionists" will become by-words ever after
this.

But to comprehend the real and solid advantages
which must accrue to the whole of the British
Empire from this vast extension of Free Trade,
would be utterly impossible, as our past experience
is confined simply to -the actual amount of our
trading transactions with other States, under a
restrictive regime. Yet when great organic
changes take place in the systems which surround
us, certain deductions may be made, and all ra-
tional conclusions have a certain value. The
changes which are about to be made are exclu-
sively in favour of industry, which, as a matter of
course, is to be rewarded and sustained by increased
production. Hence, then, commences the world's
race of competition ; and those who can produce
at the lowest cost will derive the largest profit. If
we admit this as a truism, we must also . view
America as a rival of the greatest magnitude. .She
enters the great circle of competition with an
able supply of the precious metals; and with a
national debt of 56,486,708' dollars, or about
11,.297,3411., which comparatively small sum is
"in course of liquidation." Now if she owes say
12,000,0001., the interest of which amounts annu-
ally to 600,0001., and if England owes 800,000,000/.
the . interest of which amounts annually to, say
26,000,0001., the Americans can prodUce a quantity
equal to that of England, at 25,400,000/4er annum
less than we can, taking into account, simply the
amount of taxation, which enters into the cost
of production in the two countries.
This strikes us as the point which assumes the
greatest importance, when we come to deal with
the adoption of Free Trade by foreign countries.
It is true that almost every. country' has some
staple
production peculiar to itself, which enters
in the manufacture of another. The States have
their timber and agricultural products, and
England has her metals and minerals. These are
commodities which will at all times sell at prices
which will be. regulated by, supply and demand,
irrespective of the amount of taxation which
enters into 'their production, America wants at
the present moment 70,000,000 dollars worth
of iron for , railways. BUt the object of her
modification of the duties charged on these
imports, is to do away with them and to supply .;
their place by exports of the very articles she now
import's.

The, same may be said of France. She wants
English coal to enable her to manufacture at a less

cost. She also wants about four times, or . abou

1,520,000 tons, more iron than she is capable of
producing herself, and she therefore reduces her

import duties on these two commodities in order

to manufacture for export; and it is not unt

we meet these exported articles in our foreign
markets that we shall find the advantages they
enjoy from the small amount of taxation that' enters

into the cost of their manufacture. In viewing the
probable and positive effects of such vast changes
that are taking place in the •material policy of
the greatest commercial countries in the world, our
Statesmen will be required to .deal with the question
of taxation in such a way as will leave no marginal
advantage in favour of the producers in foreign
countries over the manufacturers of this. In the

meantime, however, we have a.season of commer
cial activity before us, which .it is scarely possible
to conceive. Looking at the present and growing_
wants of the five countries the tariffs of

which are to be placed on a Free Trade scale'
we see an increased demand for our coal'
iron, hardwares, and machinery, to the
extent of - 30,000,0001. While the increased

production of gold bids fair to be equal Yto
30,000,000/. more, which will flow into the markets

for our soft goods. With such enlarged prospects
as these before us we can see no cause for un-

easiness as to the future of our trade. And with

Such elements of individual and national prosperity
in prospectiire we do not Apprehend any great
difficulty in bringing about such an arrangement
of the fiscal burthens of the State as will enable
our producers to hold their position in the mar-
kets of the world:

The subject of taxation, however, is one of such
importance, owing to its excessive magnitude, that
it is impossible to arrive at sound commercial

conclusions without taking it into account
and 'weighing its effects upon trade with

We have endeavoured so far, under the sense of
public duty, to remove obloquy from parties who
really, as we conceive, have been most unjustly
censured for that over which they had not the
slightest controul. Our philanthropic feelings
often run away with our better judgments. On
the occasion of any terrible calamity, we are glad
if we can but lay the blame anywhere. Human
nature then becomes appeased. In this respect
we act sometimes with- the -impulsiveness and
recklessness of the dog which, upon a stone
being thrown at him, runs after the stone to bite it,
ignorant altogether of the source from which it
had,emanated !