Burlington free press. [volume] (Burlington, Vt.) 1827-1865, 1840-04-24
Extract from MIR. Buchan0n's
printed Speech.

"Sir, solemnly lclieve that If we could but
reduce this inflated paper bubble TO anything like
reasonable dimensions. New England would be-
come the most prosperous manufacturing country
that the sun ever >hone upon Why cannot we ma
nuiacturc goods, and especially cotton goods, which
will go INTO successful competition with British
manufactures in foreign markets? Have we not
the industry Have we not the machinery And,
above all, are not our skill, energy, and enterprise,
proverbal throughout the world Land Is also
cheaper here than IN any other country on the
face Of The earth. We possess every advantage
which Providence can bestoW upon us for the ma
nutacure OF cotton; but they are all connterba-
lanced by the folly Of man. The raw material
costs us less than it does the English, because this
i an article the price Of which depends upon foreign
markets, and Is not regulated by our own inflated
currency. We, therefore, save the freight the
cotton across the Atlantic, and that OF the manu-
featured article on its return here. that IS the
reason that, with al. these advantages, and with
the protective duties, which our laws afford TO the
domestic manufacturer of cotton, we cannot obtain
exclusive possession of the home market, and sue
ce>stuy contend for the markets ofihe world !
" 1t is simply because we manufacture al tho
nominal prices of our own inflated currency,
and are compelled TO sell at the real prices Of
other nations. Reduce our nominal TO the READ
standard Of prices throughout the uorid, and
you cover our country with blessings and benefrs.
| wish to Heaven | could speak in n voice loud
enough 10 be heard throughout New England; be-
cause, If the attention OF the manufacturers could
once he directed 10 the subject, their own inte-
gencc and native sagacity would teach them how
injurious " they are affected by our bioated bank
ing and credit system. and ,couid enable them
TO apply the proper corrective.
What is the reason that our manufactures havo
been able to sustain any sort of competition, even
IN the home market, with those of British origin
1t is because England herselfis, to great extent,
paper money country, though, in this respect,
not to lie compared with our own. From this very
cause, prices in England are much higher than
they are upon the continent. The expense Of iv-
ing Is there double what il costs in France. Hence,
all the English who desire to nurse their fortunes
by Living cheapy, emgrate rom her own country
TO France, or some oher portion OF the continent>
The comparative low prices of France and Ger
many have afforded such a stimulus 10 their manu-
features that they are now rapidly extending them.
selves, and would obtain possession, in no small
degree, even Of the English home market, il It
were not for their protecting duties. Whilst British
manufactures are now languishing, those Of the
continent are sprlngmg into healthy and vigorous
existence 1t was but the other day that sawah
extract from an English paper, which stated that
whilst the cutlery manufactured in Germany waH
equal in quality with the British, It was so REDUCED
in price that the latter would have 10 abandon VA
manufacture aloeaba.n