Constitutional Whig. [volume] (Richmond, Va.) 1824-1832, 1831-11-24
Philadelphia Prices. September, 1923.

good y? LII
Plaids, "a fair O. a lO5
4 yard of coarse cottons generally contains
about quarter of pound of cotton. The retluc-
ton of the price of pound being but about two
cents, 1t follows that the reduction of the
tsriai is but halfpenny per yard. Whereas cot
tons have fallen from three to six cents per yard
Can any honorable man. then ascribe tho reduction
of the price of cotton goods to the fall in the price
of the raw material? | trust not. To what, then, is
it owing? TO domestic comPetition-to an increa-
scd supply. These facts shed blaze of light on
the maxim, which reflects unflding lustrc on the
memory of Alexander Hamiton-
''When 4 domestic manufacture has-lttaincd TO
perfection, and has engaged IN the prosecution Of
it competent number of persons, il invariably be-
comes cheaper The internal competition which
takes place, soon does every thing like mo-
nnpov, and by degrees reduces the price of tho
article to the minimum of reasonable profit on the
capital employed This accords with the reason OF
the thing and with experience"
| Iron, that most Important of all raw materials,
affords complete proof of the soundncss of this
theory.
In 1920, the price of iron boilers was $3.50 per
ton-hoops sS950-iron hoes per dozen, 50 At
present, iron boilers are 5 l40-hoops, $l20-hoes.
| from q to Sc.
In 1929 Pttsburg, bar iron and castin gs w ere,
the former at 1920, tho latter at 1868 per ton. AT
present, they sos and $50
Since the tariff of 1898, bar Iron has fallen here
25 per cent.
1923, us have and scythes since 1920.
Skaters patent stovos imported from England,
sold in Pittshurg, in 1920, for $3.50 4 sS4O0. 4
superior article is sold for $I25 $3.50.
''Wo might" continues the address, ''With per-
feet fairness and proprety, press the Inconsistency
of that policy, which seeks the prosperity OF
I! manufactures, by loading with burthens that
portion of them Ishippng1 which has -four
| ished NTH but little aid! and is ncces-
sarily subject to exclusion from the jealousy of for
cign nations"
This is mall portion Of splendid piece of
eloquenco, which reflects credit the talents and
| imagination of Mr.. Berrien, and weld make Il
noble addition to fourth of July Grafton. lie IA
vors with an elaborate encomum our talent Is
! at naval architecture which we have 'srGised from
a mechanical TO one Of the fine arts" Perhaps
the English language does not display moro elc-
CANT eifIsIon. But, in the of ''the fly in
AMBER we forced to inquire how it got
thorc--for it is really to the
purpose, as regards the dsafaction to the
south, than extract from tho valedictory
address of student leaving the University. But
be this as it may, should not have noticed it, but
to correct an error, which might be pardonabo in
I Mr. Berrlen, from the nature of his professional
pursuits, but which the merchants in the Free
I Trade Convention ought to have expunged from
4 tho address. moments reflection would
have convinced them of its utter destitH-
ton of foundation. / mean the assertion of ''ihe
hOWShiRg Of our navigation NTH but HttLc nid.'
And venture to assert that public document
issued in the United States for half century, con
talns so enormous mistake.
Never n system deliberately weighed
or moro Judiciously cOnCOcted, than the naviga
ton code of the United States. Never was pro
lection more complete, efficiently afforded
1t unitcs althc valuable features of all the systems
Of Europe, and avoids their errors, and reflects
! high degree fcredt the talents, the saracitv
and the patriotism of those great men by whom il
was devsed-the Morisos, the FItzsimones, tho
! ClymcTs, the Amescs, &c. &c. Far from Weld
ing "5ut little Hid," i intcrposed a most formida
Bile egis in defence Of navigation and commerce
Among the earliest acts of the first Congress, wa:
one which, in few lines, excluded foreign vessels
from the coasting trade. Was this ''but Littl.
Gid7"
The same act imposed tonnage duty of fifty
cents 9cr ton on foreign vessels on every entry
whereas American vessels paid but once n year
| Was this "but little Gid?"
The Tariff of 1899, imposed duties on teas i'm
ported in foreign vessels, which averaged 274 cts
per lb.-while those imported in American vessels
paid but 70 cents. Was this "buf little aid?p
BY the Same Tariff all articles imported in foreign
vessels we're subject to 10 per cent additional on
the duties paid on goods imported in American YES
scs. Was this ''bUf little did?"
In order to relieve orr shipping from onerous
tonnage duties in the ports Of France tho vessels
! of that ration charged with countcrvailinr
! duties. and FOR years driven from our ports. Was
! this ''but IttIe aid?"
TO force an entry for orr vessels on ADVANTAGE
Gus terms into tho British colonies we excluded
from our ports British vessels from those colonies
| for years. Was This "bHt httic aid'"
10 encourage navigation, have given
/ bountlcs on the tonnage engaged in tho fisheries
! from the commencement Of our government. Was
/ this "5R TIME aid?"
! In fine, Statute Book abounds with laws
made for The protection Of commerce and naviga-
ton; aud scarcely single application has ever
/ been made by our merchants for protection or re.
/ lief, that has OF been accorded.
| IT was my intention 10 have pursued this review
/ further. There amvlp materials, and errors
equally great to roti;ie. But Ypresumc the public
is tired of tho subject, and am in nearly the same
/ state. Therefore conclude, not do ting that The
/ reader will admit however eloquent and splendid
/ the address may nc as composition, that the very
tew facts precious few 10 which it refers are in
correctly statcd-and that the reasoning, however
plausible, cannot stand the test ola critical examr
nation. HAMILTON
| Philadeiphia, Norcu5er u, 1881
Mr.. JEFFEnsoN's opinion of the coasiitvijonaIifg
md sTPcdic"cy Of protective Tariff, in Docom-
Der, 1893.