Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1832-02-02

I I
Loo per cent have been sold as low as the dom, ne
Manufacture. Sir, | aseerancd before left home
chat the whole quantity of cotton goods imported
! into Charleston during the last year pad an aver
ago duty Of fifty per cent, and then they wcr, sold
| as low American coltons ct the same QUALITY
! But am really ashamed to argue a question SO
self evident How can taxes possibly lessen
| prices How can protection diminish tho cost of
production What are The clements OF prices
Are tbvy not the cost Of the matcrlIi-thc wa
ges OF abor-and tin interest of capital and how
can these be iossoned by tax on the aftlclef To
say Sc Is toroSorsr all the rules Of proportions Gen
tleman might rs well contend that two added to
i've make three, a tAat fifty per cent added to tho
cost Of an imported mtlcl", lessons lt5 PRICE If
gentlemen can believe this, they may believe any
thing But the truth Is, MIR President tins whole
matt Of thr reduction IN the price Of goods IS very
| easily explained Il depcnds general causes,
winch have operated to "A certain extent all over the
world From thorough investigation of tho sub.
l,ct which has taken place II Great Britain IL Is
found TO have resulted from Ia, appreciation Of the
currency Improvements III machinery ana the
general restoration otpcarc. The resumption of
specie payments, ind Il diminished supply Of the
precious metals, Is calculated 10 have lr.sencd the
circulating medium to the amount uf upwards of
1DOOOo GOO. The effect oftha slnalc cause has
pe'n within the lasttcn years, the reduction OF prI-
g,5 III thai country to tine amount Of thirty fvc per
cent 10 which fifteen per cent may be added fr the
other causes above Notwithstanding IN the
whole reduction Of almos fly per ocnt IN the
money price OF all articles. The same Ting has
taken place in his country aud, therefore, whcn
gentlemen ALICE that the prlcc ofmanuaclurcs Ia,
fallen, the naked fact proves nothing unless they
can show that they have fallen IN greater dcgrce
than Other articles IN this country, and slmlur an
tel abroad But this Is 50 far from being the fact
That the truth is that thu projected orlcrs huyc fai-
len less IN Proportion thau those Which receive no
protection. Cotton Is IA striking example, which
1as, III few year fallen roon- thrd of It's vaue.
while no projected article has IN the same period,
fallen one half
tust, Sir that we have new male ont our casc
tmt W have shown the UNJUST and unequal opera
tlou, III every point Of view, of this system, and
that, as far as the South IS concerned, 4 the Yves
also though not IN the same d"grec It is an unlnlt
-aj Il system oil bunlens. And, even with regard
To the favored section, would submit how far II Is
~l7e to insist upon system which can only be-
manIt"Iu#d a tho eXp,n,c Of Other ctoas SIR
feel too much eoufa.nce N thu justice an magma
nlmty of our Northern brehr,ni 10 sut'nr myself 10
doubt the.r willingness 10 abandon tins system #
they coul see 1t IN the HIGHT Il at we it, Ii may
enrich them for the moment. hut the prosperity IT
crcatoS Is artificial, and ~lll assmcdy be unsub#
stanual No country can be permanently benefit
ted by system Of bountes This system may
dstroy the South but II wIll not permanently ad.
vance the prosperity OF the North. 1t may de
press Us but cannot elevate them. Besides, sir, II
pcraeycrrd in, 1t must annhate that portion of the
country from which the resources are Ia he drawn
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