Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1832-02-23


crease his prices and his profits, while on
the other hand there being four times as
much cloth manufactured and thrown in
to the market, the price of cloth would as
necessarily decline. Thus the encour-
agement afforded to manufactures, by in
creasing the demand, would improve the
price of agricultural productions, while
by increasing the quantity it would re-
duce the price ofthe manufactured goods.
This, Mr. S. said, was the plain and prac-
tical operation of tho projecting system;
yet, in the face of these facts, we are
told by those who ought to know better,
that the effect Of this policy was to tax
the farmer for the benefit of the manu-
facturer! His country and his constitu-
cnts were essentially agricultural; it was
to create n home market for them-it was
to promote their interests and advance
their prosperity, that he advocated the
tariff policy-he concurred with the gen.
tleman from Massachusetts, (Mr. Da-
Wis., that every dollar of capital employ
ed in the manufacture of wool gave en-
ployment to five dollars Of capital en-
ployed in agriculture. This position
had been fully demonstrated, so that
$500, 600 invested in manufactures, gave
profitable employment to million of dol
lars invested in agricultural pursuits, so
that its benefits were as five to one in ia
vor Of the farmer.
The gentleman from New Y ork, re-
ferring to the tariff Of 1898, has called it
a Bill Of denominations. This was a
name familiar to hiscar. He well recol-
lected that it was so called at the time of
its passage. We were then told, not on
ly by the gentleman from n. Y, but by
all its opponents that this bill, if passed,
would destroy the revenue, compel re-
sort to direct taxation, annihilatc COM
merce, ruin the farmers, and crush the
community under an intolcrablc load of
taxes and burdens. Well, sir, it passed,
and has been some ,hree or four years in
operation; and what has been the result?
Have these prophecies been fulfilled
Has it destroyed the revenue? No, sir;
it has paid OF your national debt at the
rate of twelve or fifteen millions year.
And we arc now told by the same gen.
tleman, that the tariff must be repealed;
not because it has destroyed, but because
it has produced too much revenue! Has
1t destroyed commerce ?-Commcrce, like
the revenue, has increased and flourish
ed beyond all former example. Has it
ruined the farmer and wool-grower?-.
Let them answer; they will tell you their
business was never more prosperous.-I
Has it taxed and burdencd the commun-
Iity? No, sir; the prices Of all the manu-
lactures embraced within the range ofits
protection, have been greatly reduced,
Thus had this measure, so loudly de-
nounced here and elsewhere, ialsifcd all
the predictions of its enemies, and more
than fulfilled the highest hopes of its
friends. TO England, truly, it had been
a bill of denominations; but to us, it had
been bill fraught with benefits and bles-
sings. We'll might the British Chancel-
lor call it bill of denominations! But such
language i'll became an American states
man on that floor, in reference to mca-
sure which had vindcatcd It's adoption by
all its fruits-by all its happy and glori-
GUS resuts-by the high prosperity it
had every where produced, throughout
our country-a measure which | for one,
would never consent to abandon, to salts
fy an opposition, which, orig mate where
it may, at home or abroad, he believed
in his soul to be utterly unfounded.