Daily Richmond Whig. [volume] (Richmond, Va.) 1828-1831, 1830-11-06
THE NEW OLIVE BRANCH.

NJ.
To THE CITIZENS OF Soupu C.po,,,. "
Friends and f. low Citizens An import,n, fo,,,.,
VI tue pan OIL these essays as stated in the first num-
per- was to prov that high duties when ,nfiican,
lot protection, with scarcely an exception rei,os
prices, and uniformly improve tho nn.I, eSuSo
respective articles The former effect accor3,o ,n;.
the profound and sugacious maxim of AIaysndo.
Hamilton N'ucf
1.-The internal competition which takes placs ann a
every ng IKE monopoly by degrees the price Of ny
article to the minimum Of profit ON the cani o
experience S' '"' WIN
Whence ii follows thu, is the interes, of commune ~
view TO eventual and permanent economy 10 encoura.. ~,
growth of In national view ,s%nos s mo
hanceent oil price must always be well compensated by nc
manent reduction" pct
Since the publication of the first number NJ NIL
has so completely and irresistbly proved the sonnJ
ness of bis doctrine, by variety of instances of ,I
most important articles Of daily use being reduced m
20 80, 40, and so per cent their being pronerIv
protected IN his invaluable essav "Poli,;cs e. Ev
mers," which settles the question forever with IN
whose minds are open to conviction, that have be.n
inclined to pass II altogether. But az tho 40
ries would be thus rendered Incomplete have nd
ed proper TO offer few plain facts and observst;o
on the subject '
In the wide range which the protecting system b,s
t""eh IN 'hs county, or can take IN country the
case OF coarse cotons affords the strongest iIustra
ton and proof of the correctness of Haml;or,s -
trinc. If powerful facts, and fair and concIrs;a
gument, were OF any weight against inveterae nre
JUDGE or popular error, this single case would be
suinclent 10 remove every shadow of doubt on the
subj ct. ~ '
Tho idea held out by the opposers of the A,.,.o,
system OF protecting domestic industry by biob dn,.
is, that the amount of those duties s addsd 10 ,bo
price OF the article, and thus taken out of the nockots
OF the purchasers and put into those of the mapnfac
tufers Inc theory s plausible, aud for a lone Tina
mad undisputed currency-and hence il onne.r.d
10 many OF our cl'izens, that there was direc md
rreconceabe hostility Of interests BET ween tho mac
OF tho community, "the maryland the manufsctu
rers 'the few. To this fatal error are in n gre,,
measure due the calamitous scenes that ,h
nation in 1918, 10, 90, 81, and a2 VIZ
he case OF coarse cottons shed flood of Eob, an
the SUBJECT 1t was an overwhelming stroke 70 the
avorlte doctrine of taxing the MANY for the bons6,
OF the fev" Or this article imported from m. Eost
Indies OF very inferior quality, the amount of s.ve,o
mhiohs oil dollars per annnm, were, previous to the
high protection afforded by the "a riff of 1ets I1 -
the u States at 20, 81 aud % cents ner a
Wholesale, and "a and % cents retail Whon ,hn
cotton manufactures of this country eme,gad f,ono
the desoatlGn inflicted them by the extravaoan,
Importatons OF 1915 and 1916, competition reduced
the prices by degrees, until length the sunerior;tu
IN the quality, and the moderate prices of the DANES
&c article, expeedthe East India article wholly from,
markets. ' "-
1t may not be known to the generality of our rea-
ders, that the lowest duty on Cotton ooods;s az cao
per square yard if they do not at the pace NJ
expectation, cost more than six cents. Thus the du
" may be, and is IN many cases. 100 12O or 100 nor
cent. Here, surely, IT any where, was n favorable
opportunity for the extortion So emphatcav nredct
ed by those whose prncplesg 90 TO keen our workshops
and working people in Europe-to keep our own cit
Izens ldle-and to import more than we can INV for
Let us then test the doctrine in question bv facts
the alrest touchstone of truth or falsehood anney
some extracts from the Philadelphia Price Current oS
Oct. 90. -