Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1832-03-15


propositions, in detail. l. That the To-
reign demand for cotton is diminished;
and that we cannot sell to Great Britain
unless we buy from her. The demand
Of both our great foreign customers is
constantly and annually increasing. 1t
is true that the ratio OF the increase may
not be equal to that Of productions; but
this is owing to the fact that the power
Of producing the raw material is much
greater; and is, therefore, constantly in
advance Of the power of consumption
A single fact will illustrate. The aver
age produce Of laborers engaged in the
cultivation Of cotton may be estimated at
I five bales, or fifteen hundred weight to
the hand.-Supposng the annual aver
age consumption of each individual who
uses cotton cloth to be five pounds, one
hand can produce enough Of the raw
material to clothe 800.
The argument comprehends two errors,
one Of fact and the other of principle
1t assumes that we do not in fact pur-
chase Of Great Britain. What is tho
true state of the case? There are cer-
tain, but very few articles which it is
thought sound policy requires that we
should manufacture at home and on these
the tariff operates. But, with respect to
all the rest, and much the large number
Of articles Of taste, fashion, or utility,
they are subject to no other than reven-
ue duties and are freely introduced. l
have before me from the treasury state
ment of our imports from Eng gland, Scot
. land land Ireland, and including o years,
preceding the last, and three quarters of
the last year, from which it will appear
that, although there are some huctua-
tons in the amount of the different years,
the largest amount imported in any one.
year has been since the tariff of l824,
and that the last years importation, when
the returns Of the fourth quarter shall be
received, will probably be the greatest
in the whole term of eleven years.
Now, if it be admitted that there is a
less amount of the protected articles inn
ported from Great Britain, she may be,
and probably is, compensated for the de-
ticiency, by the increased consumption
in America Of the articles Of her indus
try not falling within the scope fthe pol
icy ofour protection. The establishment
of manufactures among us excites the
creation of wealth, and this gives new
powers of consumption which are graft
fed by the purchase Of foreign Objects
A poor nation can never be a great con-
suming nation. Its poverty will limit its
consumption to bare subsistence.
The erroneous principle which the ar
gument includes, is, that it devolves on
US the duty taking care that Great Bri-
tain shall be enabled to purchase from
us without exacting from Great Britain
the corresponding duty. Ifit be true, on
one side, that nations are bound to shape
their policy in reference to the ability of
foreign powers, eit must be true on both
sides of the Atlantic. And this recipro-
cal obligation ought to be emphatcally
regarded towards the nation supplying
the raw material, by the manufacturing
nation, because the industry of the latter
gives four or five values to what had
been produced by the industry of the for
mer.
But, does Great Britain practise to-
wards us upon the principles which we
are now required to observe in regard to
her! The exports to the United King
dom, as appears from the same treasury
statements just adverted to, during eIev-
en- years, from 1921 to 1891, and incu-
slve of the fourth quarter of the last year,
fall short of the amount of imports by up
wards of forty-six millions ofdollars, and
the total amount, when the returns ofthat
quarter are received, will exceed fifty
millions of dollars 1t is surprising how
we have been able to sustain, for so long
time, a trade so very unequal. We must
have been absolutely ruined by it, if the
uniavorable balance had not been neu-
tralized by more profitable commerce
with other parts of the world. or all
nations Great Britain has the least cause
to complain Of the trade between the two
countries. Our imports from that single
Power are nearly one third of the entire
amount ofour importations from all foreign
countries together. g. Britain constant
ly acts Oh the maxim of buying only
what she wants and cannot produce, and
selling to foreign nations the utmost a.
mount she can. In conformity with this
maxim she excludes articles Of prime me-
cessity produced by us-equally if not
more necessary than any of her industry
which we tax, although the admission OF
those articles would increase our ability
to purchase fiom her, according to tho
argument of gentlemen
If we purchased still less from Great
Britain than we do, and our conditions
were reversed, so that the value of her
imports from this country exceeded that
other exports to it,she would only then be