Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1832-08-09
WHOLE NO. 123.

oH' PoIiCy tuut Couiu nave tuiS cueCt, IL
would be unwise not TO adopt it; and that,
it the protecting be that very policy, it
ought to be continued What, then, is
the natural and necessary operation OF
the protecting polcyi-I mean if il be
effectively followed out according to its
principle, and to the extent Of its princi-
pie
Its primary effect is to give to the coun-
try, in time, and rapidly too, a body Of
manufactures equal to the supply Of fthe
demand for all the wants Of the country;
and beyond, for expectation to other
countries, to an indefinite but very great
amount. Already, though we are but in
the infancy Of this policy, our export Of
manufactures stands next in Importance
To the export Of tobacco, and that is next
in importance TO cotton: cotton stands
first. The export Of manufactures, pro-
ceeding as they have hitherto proceeded,
will soon exceed in value that Of tobS,r
CO. Perhaps il will not soon rival i'm
value the export Of cotton; but ifthe poll
cy be not arrested, the day is coming
when it will not only rival, but surpass in
value the export of cotton, and stand at
the head of our export commerce. Let
not this idea be thought extravagant.-
Look at the export commerce Of Eng
land: vast as that is, nine-tenths of it are
made up Of their manufactures, acquired
by this very policy.
Will it he pretended that we could
have this body Of manufactures without
this policy' Pray, reflect for a moment,
that, when the late war and double du-
ties secured to the industry Of the coun-
try the market Of the country for the sup
ply of manufactures, they sprung up Oh
all sides, as 1t were by enchantment.-
But when the war and double duties ter
minated, they went down at once; and
would have gone down for ever, but for
the tariff of 1916; illustrating the prodi-
gious effect Of complete protection, and
the prodigous difference between that
and protection that is incomplete, and on
ly Judicious, as it is called; and illustra-
ting too, the necessity Of protection to
give birth to manufactures In country
without manufactures, what man, in tho
present state of the world, would embark
and hazard his fortune in the undertake
ing to begin them, against the equal COM
petition OF other countries, possessing ev-
cry advantage over him, and ready, and
willing, and interested, to crush the at
tempt' 1t would be folly to think Of i,
for it would be inevitable ruin. In what
instance, in modern and recent times, l
would ask, has any nation ever acquired
manufacturing riches without protect
ing policyi Why, the thing is impossi-
bic; in the nature Of things il cannot be.
Since 1916 our manufactures have in
creased, as the subsequent tariffs have
increased the degree of protection; and
now they are advancing with rapid
strides. We have these manufacturing
riches, then, by means Of this policy; and
without it we cannot have them.
| Now, consider that, by acquiring these
manufactures, we have acquired new
and almost boundless field for the profita-
bic employment of capital, made profita-
bic to the owner by employing the labor
of the country, in giving new value to
the products Of the country. Why is
commerce beneficial to the country, and
why is it protected at such an immense
expense as il is? II creates nothing; It
only exchanges what has been created.
1t is beneficial, because, and only be-
cause, it gives profitable employment to
capital, and because that employment
gives employment to the labor of the
country. Now, whatever the relative
profits in capital may be in those two en-
ployments, (Which must depend on times
and circumstances) it is certain that, in
the employment Of labor, the capital in
manufactures, in proportion to the amount,
far outstrips the capital in commerce.
Now, can the different fields of busi-
ness for the profitable employment Of ca
pital and labor be too much multiplied in
country, for the good and prosperity Of
the countryi Is it not for the good OF
the country that all its growing capital
should be proftably employed in the bu-
siness Of the country, and should havo
the means of profitable employmentf-.
And is it not the acquisition Of every
such new field, TO the extent ofthat field,
a gain to the country?
Consider, again, the demand which
these manufactures make for the labor OF
the country; and the effect Of that labor
in improving the condition ofthe laboring
classes, and in producing and augment
ing the national wealth. Are the labor
ing classes Of this nation few in numberss
In numbers, they for exceed all other
classes put together. Is il no recommen-
dation OF this policy that il makes them
happy, while they make their country
richi
This policy, then, will give us these