Constitutional Whig. [volume] (Richmond, Va.) 1824-1832, 1824-07-02

vanccs he has made IN order TO bring the domestic
manufacture ,o maturity ! 1.-THE domestic manufac-
turcrs can sell their cottons so much cheaper than
the foreign asst amount to an indemnity, it is evil
dent that they can Withstand, not only the repeal
of the existing duty, bet u bounty on the tcicigm
co,tous to the amount by whie., they pretend they
can undcrscll them but so far from this, here they
are, esis,ing the repeal of the minimum, which
would sill leave them u protection of seventy-fve
per cent, admitting they can uudcrScll %foreIgneis
fifty per cent. How can gentlemen reconcile this
contradiction: 1t appears 10 me that the CONSUMED
can in no case, ever be Unidentified. When We
equal foreigners inevcry circumstance which is re-
CURED to enable us to manufacture, il is alnioS; u
scii-eviiicnt proposition to say we can only under
sell them by the amount of the cos, OF transportu-
ton for what man can accomplish by his physical
powers, i'll one country, lie can do III another.
What is the cost of the transportation of Il pound
Of raw.cc:tcn FROM Charleston to Manclester, aud
back .-ain to the former place in the Snaps Of cot
ton muslin: The gentleman isoTi Massachusetts
mir. Wobs,er) who had jus; sat down, has told US
that the freight OF 4 pound of cotton tn Liverpool,
was ono cent. Five cents then would cover the
whole charge oftranportation and re-transpoitaiion
between Charleston aud Manchester; yet tte duty
| paid in Charleston ON this pound of Cotton, when
returned, would be from 33.t 10 p cents, accord
in.ly as it was manufactured into three ~ four
Yards OF cotton muslin, at the minimum valuation
of p cents II vlId. On every article IN the tariff,
The duty greatly exceeds the cost of transportation,
ana in most u UhSll 10y SnCn an a,iiSNii', lltt tS
d::!iimution of price " this cost, could neye: REIN.
hurse the consumer for the payment of TIE daty
and yet gentlemen promise Us not Indemnity c,iy,
but bounty-notr c-imburscmc VI, but reward. In
every case, the re endorsement depends on tho re-
lation OF the price of the domestic manufacture Ill
minishcd by the amount of the cost Of transpnita-
ton, to the annual advances made to bring it to
maturity, and the successive annual accumulation
OF interest on those advances. lflic price can only
he diminished By an amount equivalent to the iate-
rest on the advances, they can never bc repaid !;
and it depends on the ratio By which the diminu,ion
OF price exceeds the interest, whether the benefit IS
tn accrue To Il present. or Only 20 Il future genera
tion. We never can surpaSs foreigners in the ia
ciiitics of manufacturing.-ln many respects, as in
the accumulation of capital, chcapncss of labDur,
&c. 1t will he long before we can equal them. In
the latter, il is To be hoped we never shall equal
them. Ii we do, we must equal them in human
wretchcdncSs and degradation.
But we are promised an Indirect indemnity i'm
the additional price we are To get Tor our products
ny the creation OF Il home EGTkct. This promise is
equally ilusoIy with the others. | will propose
this question: if the advances made TO the maul-
iacturcrs are the least they can do witi--if they are
the sane 2nc non of their CONFERENCE.-The mini
man possible OF their existence, as they preierd,
how is II possible that they can give back any part
Oh 1t III the shape of price for produce: 1t is self
evident that they cannot; bI. rs sclf-evidcnt Dropo-
sitions appearto he at a discount, in this House, I
shall not rest satisfied with this. Price is de,cr-
miHed by The relations of supply aud demand. Ii
we Cease to import, we must cease to export to tho
same extent tie raw materials that purchased tha
imports. They will then fall on our hands, increase
the supply in relation to the demand, and thus dimi-
iish the price. Blu, VIC are ted that those who are
producers viii become manufacturers. Ifso, how ma
ny OF Them will become manufactures: VIII there
be as many as are required to supply us from a
broad: There will not; because the cos, of con-
sumption being Increased, we cannot consume so
many of t!lci' commodities; and there cannot be so
many peiands required To supply our consumption
even allowing for the want OF skill, which. n l.
though i, cannot last long, is itself a source of loss
while 1t continues. In order tn increase the de
mand III proportion 10 the supply, and raise price.
4 greater number OF those engaged in other employ
menis must become manufacturers than are required
10 supply rs from abroad; but this cannot be; for
all VINO are not employed III making the surplus tina,
goes abroad, are employed in making what is con-
Snmcd az home; and they will he still required Tor
tLIs purpose. unless men, in consequence OF bccom-
ms manufacturers, can do with half raiions, or NJ
least greatly diminish their wants. The foreign
capital disengngc;l by our refusal 20 receive lis pro-
!uCts, viii either be wasted; will scek, with the Ia
Dor IT employs, some other occupations; will itScli
produce what II obtained from US; OF continuing its
fcrmer employment, Will purchase what il wants
from other countries. The same causes which ma kc
1t the interest of the American aggicultusists to dis
pose of their property will deprcss its price; ana the
quantity Of land thrown into market viii diminish
the total value OF our agricultural capital.
Gentlemen express aStonis:.men mt at the increAuli-
| t. of the hgriCultuGists as TO the advantages or their
SyStcm; but perhaps a suilicien; reason NAV be
found i'll The excessive iiheraliiy Of their own pro-
misses, which are at once extravasant and contra
iictory. We are promised Il full indemnity fr all
our sacrifices in the chcapncss of what we have TO
bry, and more than an indemnity in The dearness OF
what we have to sell. The system is to raise the
price of agricultural produce, and dcpress the price
OF manufactures. Can any c~redulity swallow so
gross an absurditr?
! Dut. we nave not only been fed with the promises
Oh reward, we have been threatened with the terrors
OF punishment. Our fears and our patriotism have
been appealed to on the subject of the balance oi
trade, and the support of foreigners.
MIR. u. said hc would not attempt to expose the
specious calculations by which a balance was fro
quently made to appear, that did not exist. Ru,
suppose 1t did exist. If we do not paw for wha, we
guy, 1t is clear gaiIi- Its discrcditabls, but il is
certainly gain. If we do pay, where is the harm,
Inc harm is said to be that we have TO nav in spe-
Gle. is not this specie purchased with, the products
OF our industry: This is not the case Of a s,eud-
thrift heir, to which the Speaker likened it. What
VIC send abroad is our surplus;-what FOREIGNERS
send to US, is their surplus. Surely it cannot he
matter of regret if the latter is Of more value than
Tue former. 1t is not necessarily DESTROYED i'm the
consumption. A portion of it consists of the ;n,rIe-
mcnts OF industry aud the arts-it is capital. stinou-
iatins labor, and engaged in reproductions. A natl
on cannot long continue in debt, and even while il,
does, the evil is notso great as seems to be imagined.
oreigherS, instead of coming into oir courts ofIaw,
and after expensive and tedious law suits. acou;ri,o
real property which they can only manage at n
great loss Will bid up for our produce; and in fact.
that is always the effect of Il balance beinq anains,
us. One would suppose, however, if we cannot rclv
on the prudence OF our own citizens to keep out of
debt to foreigners, we have sufficient security in ,lc
interest OF the latter, who will not trust then, if ,f,cy
do not pay. If they do pay, the objection does not