Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1829-03-10

1898, l9,0SS ,4S3
1924, I7,S7832
1925, 20,09S,7I3,
1926, 23325 476
1927,
1928, 240a4.S63
onr tonnage has also failed to realise the ap-
prehensions entertained in relation 10 it, Amount
ing in 1921, TO only 1,2eS 95s, il had gradually
increased, until in 1926, it reached 1874 100.
Is not difficult matter TO account, sir, for the
evident apprehensions on this subject. They
grew out OF the erroneous impression, that to di.
III inlsh or prohibit entirely the consumption Of
any particular article, of foreign growth or man.
ufacture, was TO deduct Just so much from our 70.
reign importations. TWAS forgotten that the OBJ
suuction oil one avenue Of trade, not unfreuuent.
iy opens others more extensive and more valuable
that capital disengaged in one quarter readily
ilnds employment in another-that the exclusion
Of one article leads to the introduction of another
and above all, that by an universal law OF trade,
the increased expectation, to be anticipated from
the growth Of our manufactures, would ne cessari-
iy lead to an increase Of importation.
But the argument urged with most zeal, and
indeed with the greatest plausib,y, by the op-
ponens OF the tariff is, that il increases the cost
OF consumption, by adding to the price of the art
Giles protected. No body contends that our laws
on this subject are entirely auI,less nor that the
selection OF articles for protection has always been
JudIcious. Ii will require very little ingenuity
therefore to point out particular instances of in
convenience, resulting from the imposition of
heavy duties on articles, either not capable of be-
ing produced at home, in sufficient quantities to
supply the demand for them, or to be produced at
an expense very inconvenient and oppressive to
The consumer. Our protecting system is as yet
matter OF experiment Time and observation on
lily can give to 1t the necessary perfection. But
the great principles on which its advocates have
proceeded, have been so forcibly and clearly ex.
planned by one Of the greatest statesmen, either
Of this or any other country, (Gen Hamilton. \
f0 eli tba
House to the following Short but comprehensive
extract from his report on domestic manufactures:
Though 1t were true, that the immediate and
certain effect OF regulations controlling the COM
petition OF foreign with domestic fabrics, was an
increase of price, il Is universally true that the
contrary is the ultimate effect with eyery success
iul manufacture When domestic manufac-
ture has attained to perfection, and has engaged
In the prosecution OF it competent number of
persons, 1t invariably becomes cheaper Being
Tree from the heavy charges which attend the
importation OF Foreign commodities, it can he
afforded, and accordingly seldom or never fails
to be sold cheaper, in process of time, than
was the foreign article, for which it is a subs,i-
tute. The internal competition, which takes
place, soon does away every thing like monopo-
iy' and by degrees, reduces the price of the arti-
Gle, TO the minimum of reasonable profit on the
capital employed. In a national point of view,
temporary enhancement of the prce, must al
ways be well compensated by permanent reduc-
ton OF it."
The truth of every principle contained in this
extract, has been fully established by our own ex-
perience. Our first great effort at protection was
directed to our navigating interest. Its effect il
said by MIR. Seybert, 10 have been almost MAJ ical
In tie course of a very few years, our tonnage
surpassed that Of every nation IN the world ex
cept Great Britain; and it is singular fact, that
at this day. nearly the whole Of our trade (impor;
as well export,j with that enferprising nation, is
carried on through the instrumentality of our own
vessels.
The effect of our tariff on coarse cottens, affords
another signal instance Of the triumph of the prin-
ciples, oil which il was laid. The dninution in
the price OF this article, below what it was former
ly supplied 10 rs at from abroad so far excseds
the reduction III the price OF the raw material tina,
1t can only be accounted for the principles con.
tanned in the extract from Gen. Hamton's report
And without relying on the calculations furnished
US, in relation TO the relative cost of cotton twist
and coarse cotton goods, here and in England, the
simple fact, that we are enabled, besides supplying
our own demand, annually to export upwards of
Sl,lOO,O0O worth of these articles, and TO bring
them into successful competition with those Of
Great Britain in the markets OF South America,
shews concusively, that in relation TO these art.
cles at least, the effect OF the tariff has been 10
diminish rather than increase their price.-The
same result might he she wD, 40 to several others
oi our protected manufactures furnishing an an
nual export to the amount OF S5,00O,00O. But I
mu't pasS OH W otueT matters YET 10 DO Investi-
gated.
The only remaining argument, believe, relied
on by the opponents Of the tariff is that its eE
iect must be, 20 deprive US Of our foreign mar.
kets This argument, like all the rest is deduced
not from what has already happened, but from an
apprehension Of what may hereafter happen; and
resls Tor its support, on the the extraordinary prin-
ciPle--lextraordinary, l mean. because Of the
source from which II comes,) that those who ara
not permitted to sell, cannot of course continue to
buy. And will it be believed, SIR that this Is the
argument OF those, who, in the very same breath,
are urging the grain growers Of this country to
continue to buy, 10 an enormous amount, the man
ulactures Off nation, from whose markets, every
article OF their production Is most rigdly eI.
Guided! We answer then in their own words
-" u we are prohibited from selling, we cannot
buy"
But, sir, for which Of our productions, are we
apprehensive OF losing a market IL Is on Great
Britain, that our tariffs principally TO opersts-it
is her selfish and illibera system, which we have
sought TO resist. From her, we, at least, aud with
We, three iourths Of the people Of the United
s'Nes' haye no farther exclusion TO spprehend.
~ oHr'n r9h stufsj siIe he7cr cousu6res bushfl.