American watchman and Delaware advertiser. [volume] (Wilmington, Del.) 1822-1828, 1826-01-10
POLITICAL EcoNoMy-NO. 7.
Treasury Report.

nromoe The prosperity of the county--,hal pS h;mh,
has elevated Great Britain to the most stuPeu 81
va uer and wealth that the world has ever Witnessed
which furnished her with means to suns'uZe nan nj
archs of Europe, and to overthrow me u lav
~ Erench emneror-uhch enables her, AT prese,' 3
the whole world under contrbutionto rapidly
national debt and TO repeal taxes 70 inc aou y ase
oOO equal 900 per anna a"h has enabled
IN rise like PhGnix from her ashes, ailer me eA
haustion of one of the most was'eal wars on
occupation of her territory for two OF three years by
inp armies-and the payment OF an i8noHA"'s .t.
COO 600 OOO-that policy which ranks among US
and defenders the names of the Edwards OF England e
sues and Coberts of France, and the great Frederic
prussia-hat pocy in fine, which is pursued IN greater
or less degree by every nation IN the cVZeu "ola
cept the Unite States However our citizens may ue
as the soundness of the secrearys doctrines It must De
admitted that he at all events deserves credit Tor tue NANNY
manner in which his views unfoded The late secre
ary Of the Treasury very probably housn Gn a NV"
iec as MIR. Rush does but never avowed mn'sen u"e-
ouivocaly In his report OF 1920, he says
at believed that the present is favourable moment
for ArFoRDNG PROTECTION TO tnat increasing
and important interest, manufactures y ean pc o'ie
consistently with the general interest OF the na'oh.
His report of 1884, a'es that
"The operation OF judicious revision OF the tariff WIN
out being onerou the community, would be advantage
Gus the revenuesaludry 10 connerce-and os"efe"
"to the manufactures Of the country
obvious from the above, that Mr. Cra"fota WIS ~
favour OF the protection of manufactures.
Against principles OF the report, decided opposition
making in Our commercial cltles-anu sohe % ue nos
influential gazees in the Unted States are Already and
more will probably soon be, arrayed AGAINST them
In order to discoune, ance, and deter FROM the pur
suit Of this policy, constantly assured that the pro-
tec,ing system is regarded as pencous by all the enlgh
tened people of Europe that more liberal policy IS ex-
lending there and that grea reaxaons nave taken place.
particularly in Great Britain.
rhis entirely erroneous for reduction of the duties
for the protection Of manufactures, worth notice. has taken
place any part of Europe for eight or ten years. except
in G. Britain. And the alteration there by no means war
rants The emphasis laid it, the differences drawn from
lit The modification of the British tariff requires distinct
discussion and shall be but slightly touched on here
nj NE
tariff, were full and complete We are assured, which
by the case, it does not follow that other ma
TONS particularly ours could safely follow her example
for such the transcendent and overwhelming superiority
of British capital machinery and, IN most cases. OF skill
over other nations tina, if the system OF tree trade conen
ded for bthe political economists OF The new school, were
y universally adopted half the manufactures OF the civilized
world would laid prosrate at her feet This the
rect view of the subject taken by the French government
OF the practical wisdom OF that government so far as
CARDS the national interests, nan can doubt 10 an APP
pcaton from minister for reduction of duties,
bar, pass with that of Great Britain the director of the
a, CUSTOMS NJ. de St Crq sagacously replied
n the system adopted by England is admrabe"-[why,
Ind rge .hen forrrard Eng
land, viii as liberal Ba, UNTIL THEN, WE MUST STAND
- "FAsr PRon,BIToRY system"
Ut This is the procedure that peculiarly suits the situation
' and Giro umsanccs Of this country,
II Although intend devote one, perhaps two entire
says, to review Of the recent pocy Of Great Britain yet
cannot at present refrain from slight glance by antcpa
III ton at particular portions OF IT. which,, TO every man OF
candour, will sufficiently prove how enormous are the
rOrs that prevail the subject We have had so many
al hourishes Of trumpes her aglhcrnt and liberal
policy that TO any person unacquamed with the subject II
would appear that she determined oPursue the theory
Of Adam Smith, in its fullest extent and buy wherever
er she could buy cheapest" And there country
~ that might with safety "cp the wings that tie commerce
N to the earh England precisely that country in
qence Irepea Of her numerous and transcencnt advan
gu ages Yet to pass Of items, she charges by
OK her new tariff duty Of So per cent shipping, higher
duty than any Of advalorem duties66 per cent
atesand IS per cent hides pieces Of hides and
- tanned skins, &c. &C.
~ Three of the great staples of this country wheat
&c bacco and rice Let what ground they stand il
is the present Of lbealy and freedom Of trade"
I'D Probably z but say only 100000 OF our population de
ire pend on farming Of those millions grain is the chief de
pendence OF this staple at the present era Of Hbea
pstcy Great Britain will not receive single bushe fol
III domestic consumption, while our grain growers
m millions Of dollars worth of her manufactures annually
Such the reciprocity in commerce with that nation
no She lately is true allowed be sold for domestic
SUMPTION $4,000 quarters of foreign grain part of which
~ had been warehoused for wears be sold in eoua
monthly quantities. believe about 100000 quarters pc
nd month This measure. adopted expressly stated by Mr.
OF usksson to guard against such scarcity and rise OF price
aid would render necessary shortly open her ports 70
We the admission of foreign grain, is departure from he
se' general system.
ht' Tobacco market, varies price from cents
es about 10 per h. The duty is as sterling, equal
aS cents aud Of course from 300 to 1900 per
W. the cost
~; Rice in Charleston was on the 10Th of December 80
So 23 per cwt The duty in Great Britain is tqla
al To So 80. and is Of course from 100 100 per
OF And yet in the face of these overwhelming facts
len constantly assailed with decamaos the liberal polio
nj OF Great Brianon the removal of Instructions 10 tn
Of commerce and the least attempt ucreas
our duties 6,8, 10 per for the protection Of OH
'e domestic industry denounced hostility her interests
ere and likely to produce retaliation on her part
OF Having premsed thus much shall trepass the put
he lie attention with few essays, for which the doctrines
h the secretary shall be regarded furnishing text
n.s these essaysI shall endeavour to prove
his ri,
u cd M n, ot po.ey IS 'aucay uhso1na, ana has prod'
pc" counry-farmng tobacco and cotton planting, manua
era. lures and commerce o.
!. III. That the recent modification of the British tariff