Constitutional Whig. [volume] (Richmond, Va.) 1824-1832, 1831-10-31
S2,2SS2SG


Sa,as5, as6
BESIDES these articles exported -four 10 the
aD2"u'., If :.i.E5JsSG on WINCH IN consequences
oi ':'@ Restrictions under which it received,
understand, "u .ver,To loss accrued sf from -
c."ts - dollar per oil. We exported other ar,i.
t-"- >ow&e, 70 ;hs amount OF 1897, III, making
-o;a. Of 5,iag,237 dollars Of the productions OF
;@Yye 9.uUnGd Of our populaton.. Thus it appears
tht vhile we arc threatened with dissolution of
the Lnion and with civil war, its inevitable utteu-
dani, n'''ors o?ca our ports to all the protuc-
t.a"S o. t.troHc, she receives scarcely article
'rc'i ms So in which she Dispense, and those
sae 'Gas receive arc generally bnrdcned with
nous ties!
On the subject of free truje wonderful degree
Of dcusion prevails. 1t is highly probable that
not ono in ten Of those who are eamorous for il,
have ever reflected on the pcrnicjous consequcn-
Cos it mas produced in this and other countries
consequences which viii nGailibly result should
we in evil hour ,dopt tho system its friend, adj
cocate. The subject appears 10 be by far the most
Important of any that at present claim the atcn
ton Of the public ard | therefore request serious
consideration Of tho following views
will primarily assume postulata-
lfhat in all practical cases, when there is r-
res7ncilahe difference, between fact and theory,
tho latter ought to he abandoned.
.. That where system Of conduct, subtle or
Prva'c has had fair trial for wears, and has pro.
dnccd nothing but injury, it ought to be discarded.
;. That Gree trade" prevailed in the fullest ex-
tent IN this country rom tho close of the revolu.
tjnnary war until the adoption Of the federal con-
sti,ution
In every scieTcc, there some cardinal points
on which all others, arPoraining to ii, in great
or or less degree, depend If these bo erroneous
they lead to throush with all its rcrnicous
consequences. Lot us apry this position to the
question of free or restricted trade.
Tho cardinal points OF the free trade school are
given by the recent convention in the following
words:
"ilach individual understands better than il can
be understood ny the government what will conarcc
to his own benefit. And since the ma orty OF ndi-
viGunIs viii, If properly protected, be disposed to
follow their interests such application of indus
try and capital must produce, in the result the
greatest amount of public good.
Let it be remembered that the question relate.
entirely TO the application ofca pitGl 1t cannot DO
generated by act of legislation. The power of
the government is limited to the transfer of e.pi-
tai from cmployment to another! II takes from
less favOurcd interest what it bestoTs on The
one it Processes to protect!
''Iha interference of govcrnmcnt with the right
Of the individual to apply his labour and capital in
such Hsade a. he may think n!ost conducive to his
own interest, necessarily operates to diminish the
aggregate amount Of producton!!! In other words
the amount Of the ncccssarics and convcnicnces of
life viii h are enjoyed by the community, is neces
sarily dirninished!"
The deduction from these plausible positions is
radically wrong. And the misfortune is, that an
error ot ten lincs may require one hundred to re-
futc it. Let observe, pas:aat th>t it demands
the credulity Of the Jew Apclla bclicvo that BY
vine, CG-Di
tic mulberry for the nurture of tho silkworm
or the manufacture Of silk, indeed any othe!
cd!tGr7 or manufacture, 'the amount Of The neces
sarIes and CoavenienCes ofliie enjoyed by the com
munity is necessarily diminished" This proposition
prc-supposcs that the entire capital Of country
Is proIitably cnPIoycd That there is such thir q
as Dormant caPital-and moreover, that no new
capital can be created by credit, from banks
These assumptions highly erroneous. Were
some new branch of business at once created in
this country which would re- uirc the employment
of or 10000, 900 OF dollars-ca pital, now living
dormant, the Of credit at banks would be
Immediately called into activity, to that amount
fTlthou; materially affecting any existing branch
The doctrine of the old school, which, far sake
of distinction, may be styled the Suy and Colbert
school, is that government protection, in greater
ur less degree is Indispensable TO every maaufac
ture, in its incpicnt stage, Except those engaged
III the supply cfthe extreme wants society, which
are provided for in the most savage state) to ona-
bic the projectors 10 compete with rivals cnoy!nn
the protection OF their respective rovcrnmonts,
the advantages OF acquired skill and large cap
i;ols together with tic prc-cccupation of the do.
mcstic AID foreign markets: that the Introduction
o. ne" manufactures, far iro:n diminishing the
amount of the ncccssares and convoniences Of Ii e
enjoyed by the community" absolutely increases
them; that they give additional employment to la.
hor; that, although they may, az the commence
mont, nheucn prices, tie result in general is in
the wr Is Of Alexander Hauitoa. "to reduce
taan by The domestic compctiticn;' and that cvcn
if ,hcre be slight difference in the price be-
tween TIC foreign ana domestic 0TllCie to the ad.
vantage of the former, the national benefit amply
coUPeusates for the supposed Disadvantages; for in
stance, suppose vessels could be built per cent
cheaper in the north Of Europe thar in this country
iyoriG &c sound policy to build az home, instead
Of being dependent on foreign nations.
Hero the two schools join ssuc-and the GU es
ton must be decided by facts pledged myself
IN my last, to apply this TO the case Of our
tonnage and our cotton manuiacturc-us the dccis-
ION in regard 10 them will apply to every other
branch Of industry.
The deGnjsvc treaty Of peace was signed Sept
world. Our merchants enjoyed ''thc right of
ag,vineg their labor and capital in the mode they
might conceivc best calculated 10 promote their
own iuie5csls," ex1c,ly The pi@n suggested by
tie address, and by the school. 'Tgis Afforded
worked well, Of establishing ii tie basis Of the
- .ucricnn system of political economy: if other
vsc if it shackled the industry Of the country, it
ought TO be- forever abandoned.
There was none Of 'tho interference of govern
u.cut' which IL rnuch dreaded by The Free Tr.dc /
Convention. What was The RESULT SO far us
regard. commerce, to stunt and cripple the nation
a energies, and to secure largo portion Of our .
f..e.1u and coastug trade 10 foreigners. During
uiliv six years Of peace and "irec trade" our ton
mage. bud made so little progress ihot
b. l5-g, sc had engaged in the foreign trade.
only 1871 ,329 tons.
Na'o foreigners had l06,G54S
Being j per cent. Of the whole amount.
And, as I stated ~ my last number, Of the ton
mage engaged i'm the Philadelphia foreign and
coss.ng rrdc foreigners possessed four ninths.
At E