Constitutional Whig. [volume] (Richmond, Va.) 1824-1832, 1824-04-16


Bnt It is said, that the late war. and the dom
BILE duties gave an announcement. which cans
ed infant manufactures to sprino- nm and that
they ought to be sustained by government fiji
they become strong enough to withstand FOREIGN
competition. No doubt, sir, that. since the
peace, the manufactures have suffered great re-
ducton, in their prices; but in this thew partici-
pate in common with every class of their fellow
citizens, nay, sir, with every part Of Europe.
Mr.. Lowe estimates the Fall in agricultural pro-
duce at go per cent, and IN that of manufactures
at from 40 to 50 per cent. The same cause on
Grated in Europe and America; from 1899, till
1914, except the feyerish truce which followed
the peace of Amens, all civilized Europe almost
was in arms; half million of men, on the side of
France, about the same number on the side of
the allies; this created an immense demand for
ordnance, munitions of YEAR, clothing, subsis-
fence; THIS demand rave rev stimulus to their
produeuon, sno entancsd the prices to an enOr-
nous extent; upon the peace of 1914, this de-
mand was greatly diminished, and consequently
the prices OF every article fell to peace rate.
Inc langour which followed, correspondent to
the preceding excitement Let me present to
the committee, the description which MIR. Lowe
gives OF the prominent characteristic of the ma
honal embarrassment of England since the
peace of 1914. use his own words. GA de-
hciency of employment among part of the low
er orders, and distress, from nsufficiency of wa
ges, at those intervals, when provisions were
high priced. In the middle classes, whether
merchants, manufacturers, or agriculturists,
the general ground of complaint has been an in
adequacy OF profit, disproportion of prices to
the cost of production. The principal cause of
these and other difficulties, was, doubtless, as
explained in the preceding chapter, the magni-
tude OF the transition, the suspension of govern
ment expenditure, and the consequent over
stock ofhands.n He then considers the evil as
aggravated by the public burdens, aud the ex-
pense of living, being higher than among their
neighbors.
Towards the close of the European war, we
were drawn into its devouring vortex with one
OF the belligerents; the same extravagant en-
hancemert OF price occurred here, for every
article required for the public service, or indi-
yidtial consumption; upon the return of peace,
her, as III Europe, every thing returned to its
nat iral peace price. The same state of things,
however, pervaded the whole society; the ship
owner, the merchant, the farmer, all shared the
same fate. regret that war prices allured too
many persons to embark in manufacturing pro-
Jects; even in Massachusetts alone, learn that
IS manufacturing companies were incorporated
IN four years. But, MIR. Chairman, will shew
that the manufacturers have no cause of COM
| ,
that the Governmental has acted with great hbe-
raiity to thern until the year 1912, there was no
duty, except on carriages and their parts, high
er than l2t per cent; by the act OF 1912, the
permanent duties were doubled, thus raising
them l23 to IS per cent; there was a duty of
- per cent, called the Mediterranean fund.-
land IN 1904, and continued by successive acts
70 1915, when 1t expired, but it was no part of
INC perihanel,s duty tbs act ct 1912, which dou
oiea inc duties, declared, thatlt should continue
LII iorce or one year alter the peace, and no lon
GER mere then was 1alr warning, to all who en-
saSeu III manufactures; they were purchasers
WIN hotice. IN 1910, however, the manufac-
.urerS represented, that the Transition from war
10 peace, made IL necessary TO give them tenn
porary continuance OF protection; accordingly,
oy the act OF that year, we continued the IS per
CENT, the war duties, on cotton and woollen
ior thfee years, ana then declared 1t should be
reduced 10 SO per cent; before the lapse OF those
three years, we again continued the rs per cent
on cottons and Wooiiens to 1895, and now we
are asked ior further protection. The state OF
Iacts, ana history OF legislation, VIII certainly
acquit us oil any charge OF wsnt OF liberailty as
10 the great articles OF cotton and woollen. Let
US now take the case OF IRON. In 1916, that ar
acie was subjected to duty OF 81 per ton; 1t
was raiseo' In 1918, 10 Si5. ilno by the doc
utieht rom the reasury, by dividing the whole
vaiue OF IRON imported by the number OF tons,
.ne price per ton is so and traction. Now,
II II WIZ De found That $50 per ton is more than
SZo per cent. ad yaiorem. Tins was the war
dutY' eHciuding tne Mediterranean duty OF 2s
per cent. but, II we take the price OF iron In
1'e interior OF sweden, where 1T is made, 1t IS
no, more thas $40 or $40 per ton; here 1T sells
at ieast LOT 80; and as the manufacturer here
gets tne whole oeneht oil the difference between
the price 10 the manufacturer III sweden aud the