Staunton spectator. [volume] (Staunton, Va.) 182?-183?, 1832-03-23

the assertion IMAM inns, that The prices OF cot
ions, wollens, and iron, have actually failer
since 1874: But other articles have like
wise fallen, protected and unprotected. Re
al and personal estate, cotton, flour, and TO-
bacco, all-all have gone down; and most O
them have fallen in much greater degree
than woolens, cottons, and iron. Has the
tariff done all this What say the gentle.
man! have here price current contain
ing the prices OF $50 articles, in 1916 and
1881. From this 1t appears that there has
been an universal reduction in the price OF
ARTICLES OF every description, and that those
admitted duty free, have been reduced. al
least, in an equal ratio with those paying
duties. Indeed, Sir, ! think that the care
ful examination of this table will shew that
reduction in the protected articles has not
been so great as in the others. But the re-
ductlon has not been confined TO this coun-
Try. II has taken place in England and all
over the world, IN an equal, nay, in great
er degree. The very articles most highly
protected IN this country, cottons, woollens
and iron, are now selling in England much
lower than they can Ice obtained here
This is a fact perfectly notorious to every i'm
porting merchant, and / have abundant ev-
ldence OF it now in my hands. Here are
| statements showing that such goods have &C
/
to Philadelphia, New York, and elsew here
( and after paying duties of from SO 10 an 100
! per cent. have been sold as low as the do
nestle manufacture. Sir ascertained be-
fore | left home, that the whole quantity of
cotton goods imported into Charleston du-
ring the last year, paid an average duty OF
nifty per cent. and then they were sold as
low as American cottons the same quality.
But am really ashamed TO argue ques-
| ton so self evident. How can taxes posi-
bly, lessen prices? What are the elements
OF price, Are they not the cost of the raw
materials: the wages oflabor-and the inter
est OF capital; and how can these be lessened
by tax on the article? To say SO, is to re-
verse all the rules of proportion. Gentle
men might as well contend that two added TO
five makes three, as that fifty per cent. add
ed to the cost OF an imported article, lessons
lis price. If gentlemen can believe this,
they may believe any thing But the truth
is, Mr. President, this whole matter of the
reduction in the price Of goods is very east
ly explained. 1t depends on general causes
which have operated 10 certain extent ali
over the world. From thorough investi-
cation of the subject, which has taken place
In great Britain, ii is found TO have resulted
| from the appreciation Of the currency, i'm
proyements and machinery, and the general
restoration of peace. The assumption of
specie payments, and the diminished supply
of the precious metals, is calculated TO have
leSSened the circulating mediumtothe amount
of five hundred millions of pounds The eff
feet of this single cause has been, within the
last ten years, the reduction of prices in that
country to the amount OF thirty five per
cent. 10 which fifteen per cent may be add
ed Tor the other causes above mentioned: ma
king in the whole reduction of fifty per
cent. in the money price of articles. The
same thing has taken place in this country, ;
and therefore, when gentlemen allege that
the price OF manufactures has fallen, the ma
ked fact proves nothing, unless they can
show that they have fallen in greater de-
gree than other articles in this country, and
similar articles abroad But this is so far
from being the fact, that the truth is, that the
protected articles have fallen less in proper
ton, than those which received no protec-
ton. Cotton is striking example, which
has in few years fallen to one third of its
value, while no protected article has, in the
same period, fallen one half
trust, Sir, that we have now made cut
our Case-that we have shown the unjust
and unequal operation, in every point OF view
of this system, and that, as far as the south
is concerned, and the west also, though not
in the same degree, it is an unmitigated sys-
tenn of burdens. And even with regard TO
the favored section, | would submit, how
far it is wise TO insist upon a system which
Can only be maintained at the expense of
other sections. Sir, / feel TOO much conf
dence in the justice and magnanimity of
our northern brethren 10 suffer myself 10
doubt their willingness 10 abandon this sys-
TEN if they could see it in the light that we
do. Ii may enrich them for the moment,
but the prosperity it creates is artificial, and
will assuredly be unsubsiantial. No coun-
try can be permanently benefited by a sys-
tenn of bounties. This system may destroy
the south, but it will not permanently adj
vance the prosperity of the North 1t may
depreSs us, but cannot elevate them Be
sides, Sir, if persevered in; it must annihi-
late that portion of the country from which
the resources are TO be drawn, that are TO
enrich the Northern Manufacturers And
il may he well for gentlemen TO reflect, whe =
Their adbering 10 this policy, would not lie
acting like the man that CHILLED the goose
which laid The golden egg" Let gentle
men be assured, that this is q system which
cannot possibly last. II will sooner or later
he utterly overthrown Would il not be
r well, therefore, for them 10 seize this favor
able occasion to make some sacrifice Of their
peculiar interests to the general welfare?
In concluding, Mr.. President, what !
have TO say on this subject, must take the
/ liberty of presenting few general conside-
, rations. In broad view ofibe question
ii never can be expedient TO introduce into a
country the manufacture of any article that
cannot he prodtCpd nc Chpaulv al bc mo ,e :,