Phenix gazette. [volume] (Alexandria [D.C.]) 1825-1833, 1832-01-23

poorer" / have before the SeVerai s'aV"@"',
all going to prove these assertions, as to several
Of the most hourishing manufacturing estaons.-
ments of the north. / will trouble the Seha'e
with but one ofthem, and that merely ny way Oh
illustration. The article is from the pen OF one
of the ablest political economists in the Union,
one who has la,d his country under lasting debt
Of gratitude. y
fMr Hayne here read statement from the
Banner of the Constitution, proving that Hour
shins cotton manufactory at the Falls village, IN
New Hampshire, was. from their oacn shouting.
maintained by tax on the community, exceed
ing the entire profits Of the establishment, 0y
SOL, 600 per annum; and that. it purse was
made up, and every operative man, woman and
child, paid 300 per annum, for Standing idfe or
turning grindstones, the public would be gamers
by S101 ZOO annually
1t with be seen. therefore, that, with regard
to some, at least, of our most fiourishing manu-
featuring establishments, the profits derived are
drawn from the pockets Of The people. but, It
will be said, s.here is case in which the south
participates IN the bounty; here IS home mar
ket found for three thousand bales OF Carolina
cotton.' Sir, seize the opportunity to dlsPel
for ever the delusiOn, that the south can derive
any compensation IN home market for the inJuri-
Gus operation of the protecting system The case
before US affords striking illustration OF this
truth The value Of the raw material IS about
one fourth part of the manufactured article
Now if the cotton goods manufactured at the
Falls village, were imported from England in.
stead of being made in New Hampshire, we should
find market for twelve thousand bales Of our cot
ton, Instead of three; SO that instead OF gaining
a market for three thousand bales OF cotton, we
have lost market of nine thousand. The home
r roIf
al, but a substituted market. If the trade were
free. the goods manufactured IN this country
would be imported from England. and paid for in
our cotton; but in cutting off the imports, you,
of course, to the same extent, diminish our ex-
ports. Now suppose. to make this matter too
plain for cavil or dispute, that we exported to
Great Britain one hundred thousand bales OF cot.
ton, worth, lat thirty dollars baIe) three millions
of dollars, and that we received in exchange three
millions OF dollars worth of cotton goods. How
much of our cotton would it take to manufacture
these goods? Why, just twenty five thousand
bales, while the remaining seventy-fise thousand
would be disposed of en- the continent But sup
pose the Importation Of these goods prohibited,
IN order that they should be made at home, what
portion of this cotton would find home market7
Onlv twenty-five thousand bales, and the remain
ing seventy-five thousand must be left upon our
hands. Thus, it will be seen, that the effect OF
substituting a home market in the place OF a for
eiyn market for cotton, would be to deprive US
entirely of market for three ourths OF our pro-
auctions. This result is inevitable, unless The
domestic manufactures can enter into competition
with the British in foreign markets. an idea alto.
gether too extravagant to be worthy OF serious no.
tice; for surely, if any thing can be considered
certain, we may safely assume that articles which
cannot he manufactured at home without a pro-
tectng duty of from fifty to one hundred per cent.
cannot enter into competition with foreign manu-
features in the markets Of the world, where they
will. of course, have no protection whatever
But to return to the condition of the north under
the protecting policy. IL the rich fruits OF the
system in that quarter were greater even than
they are alleged to be, should still think that
they have been purchased at too dear a rate. 1t
has even there depressed our commerce. disturb
ed all the relations of society, and had tenden-
CT to produce that inequality of fortunes, which
may, one day or other, be fatal to the liberties OF
this country.
Surveying with the feelings of an American
the actual condition of things, | should certainly
be disposed to exchange all the blessings which
the protecting system has produced. even in New
England, for those which it has destroyed. In
the place of the splendid villages, Furnishing ma
nufactories. joint.stock companies. and Iordly
propretors, clothed in fine linen, and farng sump-
tuousIy every day. as a patriot, | should be dis
posed to say, give me back the ships which have
been destroyed. the merchants which have been
reduced to bankruptcy, the sailors that have been
forced into foreign service, the 'pundered plough.
men and beggared yeomanry" who have been
driven from the pursuits of their choice into the
gloomy walls of mandatory; give me back
these, and, above all, give me back conf0f-.re-
store the peace and harmony which this system
has destroyed, and will consent that every ma.
nufacturing establishment shall be razed to its
foundation. which has been built up, and can on.
ly be sustained, by this accursed system. Sir.
If wealth were the highest good of nation, and
pecuniary profit the only standard by which a
wise policy could be measured. it would even
then be more than questionable, how far this sys-
TEN could be justified. But there are higher and
more sacred principles involved in this question,
which cannot De safely ,Iisregarded; there are
considerations Of justice, and political equality,
which rise far above all calculations of mere pro-
fiji and loss. Sir, what will it profit you. if you
h,la fhol NJ