Elizabeth-Town gazette. [volume] (Elizabeth-Town, N.J.) 1818-1821, 1819-11-09

Odessa. This system has caused large
portion Of the existing distress. But of
what avail is it, that every species OF
goods and merchandise, and even most OF
the necessaries OF life are cheap" when
the means OF purchase are far more re-
duced with almost every class, and with
some have nearly disappeared? The
owner OF houses, who was ia the recent
oil two or three thousand dollars per an
uum, and whose rents have fallen one
third or one half-the store keeper, who
made comfortable support for his family,
and whose business is almost wholly sus-
pended--the grea. body OF our western
farmers, whose bread sluffs are excluded
from those European markets, whence
their supplies of cheap goods have been
drawn, aud whose industry has thus re-
ceived vital stroke-ihe workmen who
earned six, eight or ten dollars per week,
and who are now destitute Of employ.
ment-and every other class Of the com
mnnity, now enduring more or less dis
lress-derive little consolation in their
difficulties aud embarrassments, from the
consideration that they have bought aud
can buy foreign articles cheaper than do.
mestic. We are persuaded, had the latter
been twice as dear as the former, (the diff.
terence of price, however, has generally
been Insignificant that recent events
prove it would have been sound policy TO
give the preference to the productions OF
our iellow-citizens.
We beg leave to correct an error of
considerable importance. We said, that
ecery class of community mas suffering
more or less distress" There is one strik-
ing exceptions. Great capitalists find a
golden harvest in these times. They can
aid farm 10 farmhouse TO honse-ship
to ship-aRd stocks to stocks, at their
pleasure, to the ruin of the productive
classes, who have always been regarded
as the most valuable portion OF society
and whom it has been the policy oil all
wise governments to foster aud cherish.
The present state of affirs is wonder
fully calculated to eDrich the wealthy
extravagantly; TO impoverish and reduce
to distress those who have heretofore fur
iished employment, aud the means OF
procuring comfortable subsistence, to
thousands and tens Of thousands Of useful
citizens, which they are now unable to
afford aud not only TO deprive the latter
of the means of supporting themselves and
families, but perhaps TO drive many 81
them TO desperate courses, as so frequent
~ occurs in all countries 10 times of dis
tress aud difficulty. A capitalist, with
half million of dollars, could now pur.
chase property, which one year since
would have sold for one million and
half and which in one or two years
hence, when the present state Of calamit-
Gus affairs subsidies, may realize the same
sum. This is the poisonous frHit of the
Upas tree, of " buying cheap goods a.
broad"
We hope it will appear, on such an en-
larged and liberal view OF the subject as
ought to be bestowed on it by legislative
body, fairly chosen, in a free country, that
the advantages held out to farmers and
planters from purchasing foreign goods
cheap, however specious aud plausible
they may have appeared, are wholly iliu,
sorry. The great mass of those descrip-
tons of citizens, purchased so few foreign
manufactured goods, which alone are to be
taken into view in deciding this question,
that the utmost saving that can be made
on them is Insignificant, compared with
the solid advantages of securing perma-
nent home market for their productions.
The average consumption Of foreign man
utactures, by the citizens of the U. States
is not four dollars per head Let us sup
pose every species of foreign goods to be
twenty five per cent. cheaper than do
nestle: 10 this case, the saving, by pre-
lerring the former, would be only one dol
lar per head throughout the union. Let
as respectfully call your attention, on the
other hand, to the severe loss Incurred
by the sacrifice of domestic industry.
This will enable you TO form correct de-
cision on this important subject The
reduction in the price of cotton from tiir-
~ to eighteen cents per pound, is thirty
six dollars Oh single bale; and the re-
duction in the value of the wheat produced
by single acre of land, suppose twenty
bushels, by fall from two dollars and
fifty cents to one dollar aud quarter per
bushel, is twenty-five dollars. And It'll
will not admit Of doubt, that had the
protection of our cotton establishments
provided home market for that important
staple, the price, for the steady increasing
demand, would probably have remained
stationary; at all events, it would never
have experienced so rapid and SO ruinous
a reduction. Moreover, so far as regards
the farmer, it is highly probable that a
due protection Of manufactures would, in
a few years, as already observed, attract
to this country SO many foreign artists and