Constitutional Whig. [volume] (Richmond, Va.) 1824-1832, 1824-05-28

IN Its general aggregate, is at the same time
broken aud diminished ia its subdivisions. Com.
riercial prosperity should be Judged of therefore
lTather from the extent of trade, than from the
magnitude OF Its apparent profits. 1t has been
remarked that SPAN, certainly one ofthe poorest
nations, made very great profits on the amount
OF her trade; but with little other benefit than
The enriching of a few individuals and comma
MES. Profits to the English merchants enpaacl
IN the Levant and Turkey trade, were formerly
very great, and there were richer merchants in
england some centuries ago considering the
comparative value of money, than at the present
highly commercial period. When the diminu-
uon OF profits arises from the extent of tompe-
ton, II indicates rather salutary than an iniu-
rious changes
The tue course then, Sir, for us to pursue
IS, IN my opinion, to consider what our situation
IS; what our means are; and how they can be
best applied. What amount of population have
we, In comparison with our extent of soil. what
ainonntof capital, and labor at what price, As
TO skill, knowledge, and enterprise, we may
safely take it for granted, that, in these partcu
lars, we are OH an equality with others. Keep
ing these considerations in view, allow me to eS
anime two or three of those provisions of the
bill to which feel the strongest objections.
10 begin with the article of iron. Our whole
annual consumption of this article is supposed
by the Chairman of the Committee, to be 48, 900
or $4,000 tons. Let us suppose the latter. The
amount OF our own manufacture he estimates
th'nk, at 1000 tons. The present duty on
the imported article, is i 3 per ton, and as this
duty causes of course an equivalent augmenta
ton Of the price Of the home manufacture, the
whole increase of price is equal to S75O,000
annually. This sum we pay on 4 raw material.
and on an absolute necessary of life. The bill
proposes to raise the duty from SIS to $40 so
per ton, which would be equal TO s ,I25,00o on
the Whole annual consumption. So ulat, sup
pose the point of prohibition which is aimed at
by some gentlemen to be attained, the consul
mers ofthc article would pay this last mention
ed sum every year to the producers of it, over
and above the price at which they could supply
themselves with the same article from other
sources. There would be no mitigation of this
burthen, except from the prospect, whatever
that might be, that iron would fall in value, by
domestic competition, after the importation
should be prohibited. 1t will be easy, think.
to shew, that it cannot fall; and supposing for
the present that it shall not, the result will be
that we shall pay annually sum of & 1 les 900,
constantly augmented, too, by Increased con-
sumption of the article, to supporta business that
cannot support Itself. II is of no consequence
to the argument, that this sum is expended al
home so it would be, five taxed the people to
support any other useless and expensive esta-
blishment, to build another Capitol for example,
or incur an unnecessary expense of any sort
The question still is, arc the money, time, and
labor, well LAID out in these cases? The present
price of iron at Stockholm, l am assured by i'm
porters, IS S53 per ton on board, S48 in the
Iard before loading, and probably not far from
$40 at the mines. Freight, insurance, sc. NAV
ne fairly estimated at Si5, to which add our pre-
sent duty of SIS more, and these two last sums,
together with the cost on board at Stockholm,
give S83 as the cost of Swedcs iron in our mar
I-nt In E,of. co,I
year at S81 so TO $50 per ton. We perceive,
by this statement, that the cost of the iron is
doubled in reaching us from the mine in which
1t Is produced. In other words, Our present du-
ty with the expense of transportation, gives an
advantage to the American, over the foreign
manufactures, of one hundred per cent. WHY
then cannot the iron be manufactured at home
Our ore is said to be good and some of it bet
ter. tits under our feet, and the chairman of
the committee tells us, that it might be wrought
by persons who otherwise will not be employed:
Why then is 1T not ,o,'oagIt? Nothing could
be moro sure of constant sale. 1t is not an ar
dcle OF changeable fashion, hut of absolute, per-
manent necessity, and such, therefore, as would
always meet steady demand. Sir, think il
would be well for the chairman of the commit
tee to revise his premises, for | am persuaded
that there IS an ingredient properly belonging
to the calculation which he has rnisstated or
w
think, of about S27 per ton; yet it is imported
IN considerable quantities, notwithstanding the
vast capital, the excellent coal, and, more i'm
portant than all perhaps, the highly improved
state oil inland navigation in England; although
am aware that the English use of Swedes iron
may be thought to be owing in some degree to
its superior quality.
Sir, the true explanation Of this, appears 10
me 10 lie in the different prices of laijo7.; aud
/ pipr, &c oy,l r,;s ~
gument of the chairman of the committee. lie
says it would cost the nation, as nation, no.
thing, to make our ore in to iron. Now, think
1t would cost us precisely that which we can
worst afford; that is, great hbor. Although
bar iron is very properly considered raw ma
tcrial in respect 10 its various future uses; vet
as bar iron the principal ingredient in It's cost is
labor. OF manual labor, no nation has more
than a certain quantity, nor can il be increased
at will. AS to some operations, indeed its place
may be supplied by machinery; but there arc
other services which machinery cannot perform
for it, and which it must perform for itself.
most important question for every nation, as
well as for every individual to propose to ITSELF
is, bow il can best apply that quantity OF labor
which it is able TO perform Labor is the great
producer of wealth. it moves all other causcs
fit call machinery to its aid. il is still employed
not only in using the machinery, but in making
H. NOW, WIN respect 10 tne qudnllty oil Iaoor,
as VIC all know, different nations are differently
circumst&nccd. Some need, more the any
thing, work for hands, others require hands for
work; and if we ourselves arc not absolutely in
the latter class, we are still, most fortunately,
very near it. i cannot find that we have those
idle hands, Of which the chairman of the com
mittee speaks. The price Of labor is conc!u-
sve and unanswerable rcfutation of that idea:
it is known 10 be higher with than in any O.
tlier civilized state, aud this Is the greatest OF