Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1824-01-31
Denomination Of Judge oope,'s Tract on me
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'Nod .fcui'cM q The IdrG"
No. |.
JUDGE COOPER has once more apneorcd az
q p"l"mical writer against the modification of
The tTIii, nod published II pamphlet, which is
circulated with great industry. and hailed ,s
complete triumph Ivy HAT school of poli,i-
cal economists under whose banners he has
arraved himself.
Nhrn a man nr cnnsitrra Bile Talents .n,.rs
with al and ar;lonr into n cause-studiss il
Tor a long time with care and attention-and
awaits himself Of all the authors who have
prrcedri hir--if he does not make his c,e.
GEAR ana conclusive to uuprejudiccd minds. il
- TAR tn presume, that the cause must he i'm
trinsicay unsnuud.
ihat Judge Cooper possesses very considsr
aoie talents Is matter of public noturiefy-
that he has entered into this cause with great
zea' anu ardour aud put all his powers into
requ's'uon, Inc strong feeling manifest in eve
~ page oi his work proves He has three
times, IN three different years, addressed the
puoic on this suhec and according to his
own account, studied Adam Smith. Saw Mar
GET Crai5e, AIR. Cambreleng, and the North
American Review. Ii, therefore I prove AZ
hope TO do that he has fallen into number
less errors ia point OF fact-that most of his
postuiata are wholly inadmissible-an that
some of his most important positions rest on
me very slippery foundation of isl hope
the question may be considered az settled in
the mind of every candid citizen. | shall en-
Ter on ih'9 examination without much regard
To order, hut shall he careful tn quote his ar
S"ments fairly, ia order Ia do him Justice.
or legislators have the example of Europe
as beacon to direct their course."-p.S.
Here - AN important ASSUMPTION. whole
unNarranted ny fact. No such repentance of
restrictive dates exists. If The powers of
Europe rePented of the protection of native
industry by prohIbiIury duties, they could
change the system without diligently. But I
drly THIS gentleman in the face OF the natioo
To prodnc- any proof of repentancen on
the subject of restriction--a single instance of
any important relaxation in the tariffs of auy
one nation IN Europe for ten Years. excent
Russia and Holland, whose fatal example.
must explode his theory forever in the minds
OF all those who prefer strong facts TO n.r.
speculdt'ons, however plausible. They hold
our dn awful beacon TO our statesmen, 10 shun
tue rocks on which the statesmen of Russia
aud Holland were so bsguiIPd and bewildered
as to shiPwreck the National prosperity.
These Cases deserve great detaii-but shou
he very brief Russia was prosperous in 1916.
IL, 10, and 10; but, fascinated with the theo-
Ties of Adam smith and j. i. Say, she adopt-
ed new tariff in 1920, un the drlusive nj Ian
of letting trade regulate itstf-In this tariff.
she ahr"gated her prohibitions and lowered
her duties The country was immediately de-
luSrd WITH foreign goods, and, in due course,
Drained at ITS specie, is we have been in past
years. 10 pay for the surplus of those inltlor,s.
winch lar exceeded its exports The most
disastrous consequences took place CircuIa-
tinn was stopped. Distress and wretchedness
OVer9pread the land. The manufacturers "a
was the case 10 this country, first fell victims
To this mistaken Yulcy. Agriculture next (,.li
the shock: aud, finally, bankruptcy s,yrut
way larg" prOphrlon of those commercial
houses whose cnpidiiy had paved the way fur
tnr misery ot lhrr country, A single Gazette
OF France, of April, 1921, contained an ac
count OF seven bankruptcies of great com
nercial houses, which had rpcentIv t,,ks,
place. 10 Peter sbnrgh aud Moscow, four Of
which were for the enormous sum of , $40 900
rouhles. The amount Of the remaining three
was not stated. The Russian government was
Peu'hea WIN astonl5hment al the crlamitous
reverse that had taken place so untxprcfedIv
Ih"y hoped, bu' hoped iu vain, that the evil
was but Temporary, anA would som work ia
cure that trade would requisite itself; that
specie would f1d Ifs level; tbat "tha uations
possessing The precious metals ~ greater pl.o
ty," would be "gIad To- sell them ~ toe in
Creased price" Uurr disappointment attend
ed all these fond and delusive expectations.
Alter Two years Of Intense suffering. they
were, az Judsr Cooper Justly observes re-
Peniant" for their lrauscrudrnt folly. They
Teiriced their steps, ami have given the world
= repeniant example" Of which il is To- be
hoped our statesmen will DOT fail ID avail
themselves.
But shall let The emperor sneak for him
self It's language 90 the subject is clear add
unequieoca-
II proportion - The prghibitpry system !.
extended and rrnde.ed perfect in other coun-
tries, mt state ,otich pt0sues the coVrary sps-
teH' fsHkes froHl day 10 d,y sIcrlfcss more er
ts0si~ md more cOnSiderGhte. n offers
a co ibnnn announcement 10 Me nqnnC,ciures
o other coHHtries--and us otca manufactured
psr'st N hs struggle vhicd hey IRE rs ut un. !
able 10 maiairin
1t - with The most lively fpelings If regret
we Acknowledge il is oar own proper exp,- |
r,ence' which 'nlbles rs TO trace this picture
Jhe evils ,ohich It d tails hire been rlaiiz,d an
Rssstr and Poland since he conclusion oC he 1
acf 0t NE 7-i9 NJ dec. 1867 AGRICUT,- /
TyRE WITHOUT A MARKET. INDUS |
Try WITHOUT PROTECTION. Ian /
GUlSH AND DECLINE. Specie is /
EXPORTED, AND THE MOST SOLID /
he fer fff a.