Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1832-08-14

too money price OF the various manu- features upon
which they laid, to the full extent these duties
they at the same time, enhance the price of all other ar
hcIes IN the manufacturing region, though not TO SO great
an extent In whatever degree the rise of the pice OF
protected manufactures produced by the increased guam
y and diminished value money. in that degree all other
articles in the region OF country are enhanced also
While, therefore, the price Of manufactures Is increased
forty or y per cent by The protecting duties tho price
OF all farming productions, is probably increased twenty
five thirty per cent. IL results that the burhen inn
posed upon the northern consumers, only the difference
between the price ofhe protected and the unprotected pro-
auctions of that part OF the Union For the
that the prosperity OF the great manufacturing interests OF
the north produces corresponding prosperity the other
classes there the depressed condition c the southern plan
tiers must produce corresponding deprcssion in all the
subordinate departments OF southern industry Tho pro-
tectug duties have double operation upon them They,
at the same ume diminish the price of their great staples,
and increase the price Of all the articles they have
sion 10 purchase from other parts OF the Union.
will inquire what is the aggregate effect OF the
whole protecting system the two great subdivisions OF
the Union-the planting aud the manufsc turing States
Assuming the average of protecting duties at 40 per
cent, Uhough ii is in fact more) and setting down the
Southern exports at hiry-hve millions of dollars, have
the sum OF fourteen millions OF dollars the amount Of
the revenue annually levied from the productions OF the
planting States OF which Than -hais transferred
AS tribute to the manufacturing States But the actual
extent oil The transfer OF wealth which takes place,
ally from the south TO the NORTH cannot be fully realized
until we take into the estimate the exchanges between
those two sections as well foreign exchanges.
The whole amount of the southern staples which we
sell 10 the manufacturing States 10 less than
six millions of dollars Cotton alone, by the estimate of
the manufacturers, amounts TO more than that sum.
While we certainly obtain greater money price for
staples in this exchange in consequence OF the protecting
duties we as certainly give from twenty-five TO fifty per
cent more for all the articles receive. The amount OF
the direct annual tribute levied upon the SOUTH this in
terna trade, Is not less than millions of dollars The
estimate oil the Committee OF Ways and Means is much
too small.
AS to this bur,hen, there be mistakes for
tain that the money price of the articles receive from
the North for the staples there consumed is increased C
the amount OF at least two millions by the protecting
Ties, and is as certain that the money price cotton
ed by those duties.
Upon the whole, them the annual production Of tbe
three great agricultural staples of the South consumed
both abroad and at home, at least 40 millions OF
dollars The effect of the protecting system, as we have
seen Is TO depress the eXchangeable value Of this whole
amount OF production, compared both with the manufac
lures OF the North and with foreign manufactures in III,
exact degree that enhances the prices of those manuac
lures In other words, upon all the exchanges OF the
planters at home and abroad they pay average of forty
per cent more Tor what they purchase while the price
their staples is not at all ncreased and this unequal state
their exchanges is exclusively Produced by the protecting
duties
Sir this is picture Of the imagination; it is plain
analysis, strict business view ofOur condition. And do
not know any language by which better describe tho
aggregate opcr of the PROTECTING system unon fh c
eren sections OF this Union, than say il is
gave draft upon the productive industry of the planting
States IN favor of the manufacturing States for between
ten and fifteen millions OF dollars, signed by the presiding
sident of the United States.
Having now explained the agency Of money i'm the o.
changes foreign commerce. and its tendencyto disguise
the actual operation of the protecting system The commit.
zee VIII the more readily perceive the force and prophet
oil the Illustrations which have been adduced prove the
great inequality and injustice of that system.
The reason is now apparent why import duties have
been enormously supposed 10 operate differently from
else duties upon te producers and the art-
cles SUBJECTED TO these respective duties.
ILL., Tor example, discriminating duty were levied
upon he producers OF one-hir part only Of the cotton
manufactures of the United States, every BODY would adj
init mat almost the whole burhen OF this duty would fall
upon the producers of the prescribed manufactures The
exemption OF the other thirds from taxation would
render IL OBVIOUSLY impossible 10 throw the burthcn of the
duty on the consumers.
NOW, this Is equally true of import duties levied upon
foreign manufactures, while domestic manufactures of the
same Kind and OF twice the amount are EXEMPTED from
duties. And the reason why it is equally apparent
S that as excise duties operate upon domestic exchanges
ere Is nothing in the transaction that brings an increased
quantity OF money into the market.
Every body therefore, that in the case stated the
price oil the dued article increased az much
even onethrd part of the amount of the duty and the
principal burthen must consequently be borne by the pro-
Queer. 49, f
Ii money were not admitted free Of duty from Goreiqn
couhes and II the quantity OF il in the United States re-
NAMED the same after the imposition of protecting duties
as before would be equally apparent in the case
excise duties that the producers bear of the bur-
men, The very FIRST effect of laying projecting duties
IN Such state oil things would be plain papable fall in
the money price of the staples xportaon i'm the United
States, almost exactly proporioned TO the duties while
the money price OF the protected articles would remain
changed The exchangeable value of the staples of
portaton would be diminished than il now; but
would be no more obvious, from being indicated bv
"a" In The money price OF these staples instead rise in
the money price Unprotected manufactures.
To be cOHtinued.1