Vandalia Whig and Illinois intelligencer. [volume] (Vandalia, Ill.) 1832-183?, 1832-04-11


have to. perform the now more pleasins
TASK OF exhibiting an imperfect sketch of the
existing state of the unparalleled prosperity
OF the country. On general survey, we be
hold cultivation extended,the arts flourishins,
the face of the country improved, our peope
fully and prohtably employed, and fac public
countenance exhibiting tranquility content
ment and happiness. And if we descend into
particulars, we have the agreeablt contem-
Iplation of People out of debt; Ind rising
slowly in value, but in secure AMI salutary
degree; ready, though not extraWgant mar
det Tor all the surplus production of our in
dustry; innumerable Aocks and herds brows
ing and gamboling on ten THOUSAND hills anc
plains, covered with rich and verdant grasses
our cities expanded, and whole villages spring
ing up, as it were by enchaaRltpg,,eBtbt our ex
foreign and coastwise, swelling and cpIl, 0"age,
the perpetual thunder and tightening IF count
less steam boats; the currency soind and
abundant; the public debt of two was nearly
redeemed; and to crown all the pubic treas
usJ overlooking; embarrassing ConFess not
70 find subject of taxation, tut to sdect the
objects which shall be liberatcd fromthe i'm.
|post. If the term of seven years wee to be
selected, of the greatest prosperity which this
People have enjoyed since the establishment
# their present constitution, it would be ex
actly that period of seven years which imme,
diately followed the passage of the tariff of
824.
This transformation of he condition Of the
country from gloom and distress to brightness
and prosperity, has beenmanly the work of
American legislation, fosering American in
dustry, instead of allowing it to be controlled
by foreignleg islaton, cierlshing foreign indus
ry. The foes Of the American System, in
1924, with great boldnss and confidence, pre-.
'dicted, 1st. The ruin d the public revenue,
and the creation of Necessity to resort to di
rect taxation. The gentleman from South
Carolina, Gen. HAYM) Ibelieve, thought that
the tariff Of 1924 would operate a reduction
of revenue TO the large amount of eisht mil
lions of dollars. Cd. The destructo, of our
navigation. Sd. The destruction of @mmer-
cal cities. And 4th. The Augmentation Of
the price of objects of consumption md fur
Their decline 10 that Of the articles ofour ex
ports. Every prediction which the made
boo failed utteriy failed. Instead Of the
rum OF the public revenue, adoption of the
American System, we are now threatened
with IFS subversiop, by the vast amount of the
public revenue produced by that System
Every branch of navigation has inceased.--
AS to the desolation of our cities, let us take,
as an example, the condition of the largest
and most commercial of all OF them, the great
Northern capital. | have in my hands. the
assessed value of real estate in the city of N
n 70
vassed' contested, scrutnized aud adudged by
the proper sworn authorities. 1t is, therefore,
entitled to full credepce. During the first
term commencing with 1917, and ending ID
the year OF the passage Of the tariff of 1924,
the amount of the value of real estate, was,
the first year, S57,799,435 and after various
fluctuations in the intermediate period, it set,
tied downat S52,O19,7 3Oexhibiting decrease
in seven years, of S5,779,7O5. During the
first year 1926, after the passage of the tar
i'll, it rose, and, gradually ascending through
out the whole of the period of seven years, i'll
finally, in 1881, reached the astonishing height
Of S95,7l6,4o5. Now, if it be said that this
rapid growth of the city of New York was
the effect of foreign commerce, then it was
not correctly predicted in 1924, tat the tariff
would destroy foreign commerce aid desolateI
our commercial cities. If, on the contrary, i'll
be the effect ofinternal trade that camot be just
ly cbargeable with the evil consequences i'm.
puted to it. The truth is, it is thdoint effect
of both principles. the domestic Industry nour.
ishing the foreign trade, and the foeign com.
merce, in turn, nourishing the domestic indus.
try.
No where, more than in New Yrk, is the
combination of both principles so completely
developed. In the progress of mprgument,
| will consider the effect upon tle price of
commodities, produced by the Amrican Sys
TEN, and show that the very revrse of the
prediction ofits foes in 1924, has actually hap
pened.
Whilst we thus behold the entire failure Of
all that was foretold against the System, it is "A
subject of just felicitatioa to its friends, taat
all their anticpations Of its benefits had ben
fulfilled, or are in progress of fulhllment. Tie
honorable gentleman fom South Crolna has
made an allusion to a speech made by me, IL
824, in the other House, in support OF the
Tariff, and to which otherwise, should moi
have particularly retired. But would ask
any one, who could now command the courage
to peruse that long production, what principle