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

<onr-. .essone> the rrfce Of cotton as did every
thing else, but there Tariff Of Protection.
Tho resumption of specie payments alone reduc-
cd the prices of property 45 per ccnt-morc than
Nc MDuiiie's famous forty bale doctrine; but
there rds Tariff thcR: and this fall
not here IN poor ruined South Carolina only, ii
affected the markets of Europe, and pcrvadcd eve
~ salc1hle article. Much OF the hostility to the
United States Bank arises from tho fact THAI
preserves sound currency. five had tho curren-
cy of 1916 could pay his debts 40 por cent.
| easier thar the can now; but his creditor would DO
paid IN deprecated currency: End cotton would
sell for 10 per cent. i'll deprecated notes. but
not fraction more in gold. Lands and negroes
would bring more paper dollars, but not moro SILVER
ones, and the faith and credit of the State would
suffer.
The difference s, tho nominal price of cotton,
between 1916 q. lS22, owing in part to tho
excess of supply, but e, city 70 Tho difference be-
tween paper money and specie, ahov 10 per cent
The fail of cotton in price since 1924, may be thus
accounted Tor Egypt supplied fifty or sixty thou
sand bales. Our sister States, North Caro-
ina Virginia ard Narvlaud, beside tho south-wcs-
tern States all raised cotton. 1t cotfOn-cof
correction. from the Potomac to the gall. From
1876 TO 1922 the average exports to Engidnd
increased about 10000 bales. Now hn"; could
ltho Tariff have done thisl 1t is sad to pGr0lyse
agrcu ture Who believes that tho Sultan of E.
gypt ever heard our Taritfyct while he brought
only 1891 bales year to -7yerslUck the market,
our Tarif-riddon country added li6 302 bales, and
ton not rapid: prices fell; and many per-
sons ascrbcd 10 the Tariff, what every honest and
sensible man sees at once caused, not by the
Yankees, for they did not add pound to tho
stock, hut by the emigrants f-om the old Southern
States. to tho fertile fields ofthc South West Nay,
| tho y ankees, by setting up manufactures, have
prevented the price OF cotton from falling still
io'ces'. They edd'to the consumption by extending
The manufacture; and ko"p up tho prices by com
poting wish the Europeans IN our market. If the
repeal ofthc Tariff will prevent the other States
from raising cotton. then it will do South Carolina
some good but fit will destroy the culture of s,I-
gar, and bring all the lands and negroes employed
IN II TO raise more cotton HE price must go still lor-
cr Depend on it, ''frce trade" will do nothing
low duties will do nott:ing--cven making Calhoun
fres"iont nothing. AS long have spece
currency, and the quantity of cotton equals or ex-
cecds the demand, the price will tie no better. The
repeal OF the duty sugar would do more to ruin
inc planter OF South Carolina, than foreign war.
But the llotspurs who have little 10 lose say ait is
an honorable sacrlhcc'-it is honorable to ruin the
Htate,'to show orr dIsintcrcstedncss-an vet we
arc to sever the}Uuon because interest. are af
tccted by its laws-hcrc is selfshncss and clival
ry-an alternate influence of gold and quixotisn
wholly worthy Of men whose hest excuse is thoir
liability to Paroxysms Of natural dnusion
FRANKLIN.