Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1840-02-20

nlv 10 illustrate the principle. The actual vioful
NAV be greater or less than that supposed out III
country where bank circulation PfeVans' : ms &c
greater and greater, just IN PioP'
It's prevalence - ,bore i but
For this diseased state of your currency, heie ~
ono certain remedy-to return to the currency VI W.
Constitution. Read that Instrument anu ILL.,, tha -,
saws. Consrcss shall coin money and rcsua'e .e va
Inc thereof no State shall emit bills OF cred't, or inaA
any thing but gold and silver a legal tehuei. .n
are positive and negative provisions grant u pome
10 Congress, and a limitation on the power u VI.
states. in reference to the currency Gan you aonp,
that the object was TO give Congress the conlroi OF
the currency; What else is the meaning 10 fesui"te
the value thereof? Can you doubt that tne currency
was intended to be specie: What else Is tHe nieai'
to coin money!" Can you DOUBT on .ne t oa,,i
~, s,norSede the currency which Congress was
onthor;1ed n establish, What else IS the meaning
of the provisions that they shall not issue Dis Oh
credit or make any thing but gold ana SILVER
li t.ndors Can we doubt, finally, that the coun-
, : M. in the condition that the Constitution IN
,endna ne far as the currency is concerned: Does
Conrress in point of fact regulate the currency NO
Does !, SUNNY coin circulation: No DO the states,
in fact. regulate it, Yes. Does 1t CONSIST OF paper IS
nad bv The authority of the States Yes. Is tins pa
nor !; eff;ct. legal tender? Yes it has expelled the
n,,,oncy of The Constitution, and we are compelled
IN take Il or nothing Well, then, as the currency
i in an unconstitutional condition, the conclusion
= ;rros;stble that the Constitution has failed to
concerned; but whether it has failed by mlscon-
strpcop or the want of adequate provisions, is not
vet decided Thus much, however, IS clear tial
i is through the agency of Bank paper tha' u mas
failed and the power intended 10 DC coneiieu Oh
Congress- over the currency has been Superseded
Bnt for that the power of Congress over the curren-
cv would have been this day in full force, and the
currency itself in constitutional condition. NOT
il less clear that the Constitution cannot De resloea
while the cause which has superseded it remains ana
This presents the great question, how can Il be removed
do not intend to discuss IT on this occasion. sna!i
only saw that the task is OF greatdelcacy and d-
GUILTY. recurring much wisdom and canton, ana in Inc
of which, precipitation ought to be carefully
avoided but when executed, then, and not till then,
shall we have the solid, STABLE and uniform currency
intended by the CONSTITUTIONS and which ndspensa-
bic not only the full success OF our man iactures and
all other branches OF productive industry but also 10
| the safety of our free institutions
The next Indispensable step to secure 10 the manu-.
Ecturcrs the foreign market, is low duties and light
burdens productions yes rs low ana Lght as tiie
wants of the Government Will permit llc less the
brden-the frecr and broader the scope gIcn TO the
prodIcts of our manufacturcs-the better io- them
Above all avoid tie renewal of the protective system
II would be fatal US far as the foreign market is
cerned.
It's hostile effects have already shown from the Ia
BILE of exports; and shall now, by few brief remarks,
prove that il must be Passing by other reasons /
shall present but one but that one decisive. 1t has
been shown that the effect of the protective system is
to expand the currency in the manufacturing sections,
until the increased price OF production shall become
equal TO the duty imposed for protection, when the I'M
por,aton of the protected articles must again take
place. that say that its effects are TO enable To-
reign manufacturers meet ours IN our own country
under the disadvantage of paying high additional du
ties. How, then, with tina. result would Il be posi-
BILE for manufacturers TO meet The foreign fabrics
of the same description abroad, where there be ne
duty 10 protect item: There can be answer. The
reason is decisive.
! do not wish in what have said, to be considered
the advocate Of low wages am in favor of high wages
and agree that the higher the wages, the stronger the
evidence OF prosperity; provided land that is the i'm
portant point they naturally, by the cDtcttrc
ness Of industry, and not IN consequence OF an inflated
lcurrency, or any artificial regulation. When say
the effectiveness of industry, mean to comprehend
whatever is calculated to make the labor OF one country
more productive than that of others. take into consl
Iteration skill, activity energy, invention, perfection
of instruments and means, mechanical and chemical
: abundance ofcapita natural and acquired facility 0
intercourse and exchanges internal and external, an'
in a word whatever May add TO the producttvcneS
OF labor High wages, when attributable to these, IS TN
certain evidence of prodGct!ccncSs, and is on That ac
count, and that only, the evidence OF prosperity IT
easily understood. Just such labor would command
when compared with the less productive, create
number Of pounds OF sugar or Tea, greater quantt
of clothing or food in the same proportion would
command specie that IS higher wages, for day
not more than the high wages of man against the 10y
wages Of boy, of man against woman or the skllir
i and energetic against the awkward and feeble. o
the contrary the higher such wages, the less the pre-
lection required. Others NAV demand protection agans
! it-nol il against others The very demand of proec
tion then but confession of the want of effective
of labor from cause the side that make
it, but general rule, will turn out that protection
I, in most cases. is fallacy certainly when II
effects artificial expansion OF the currency.
far are hig wages from being the evidence of prospe
rity such cases in fact whenever caused by hig
protection, high taxes any other artificial cause,
is the evidence of the very reverse and always md
Gates something wrong, and tendency to derangemen
, and decay.
Having arrived at this conclusion, will now hazart
the assertion that in country earth is labor tax
ing II all in all, more effective than our and cspecal
in the Northern and Eastern portions. What peopl
; can excel our Northern and New England brethren il
. skill, inventions activity, energy, perseverance, an
: enterprise In what portion of the globe will you fin
position favorable TO free ngress and egrcs
and facility OF intercourse, external and nerna
through the broad limits flour wide spread country
region surpassed by none, taking into consideration
: extent and fertility. Where will YOU find such a
\ abundant supply Of natural capital the gift of kin
Providence; lands cheap, plenty and fertile; water pow
er unlimited; and the supply Of fuel, and the mos
useful Of metals, iron, almost without stint 1t is true
in accumulated capital the fruits of past labor hroug
long succession of ages, not equal to some othe
countries, but even in that far from being deficient
and to whatever extent deficient, would be NOR
than compensated by the absence Of all restrictions
u the lshtness of the burden imposed labor, shoul
our Government, State and General, wisely avail se
: of the advantages of situation If these views
II correct there country where labor if left 10 itself
u free from restriction, would be effective, an
!, where it would command greater abundance of ever
! necessary and comfort, higher wages and where,
course, protection IS less needed Instead of an advan
tage, II must in fact, prove mpediment. Ii is hig
time, them that the shackles should be thrown off in
dusry and its burden lgencd, far the just want
: of the Government may possibly admit we have ar
: rived at the manhood Of vigor Open the way-re
q move all restrants-take off the swaddling clotl
that bound the limbs of infancy, and let the hardy, in
telligcnt and en,erprsng Of New England, marc
forth fraressy to meet the world in competitions ant
she will prove, in a few years, the successful rival
:. old England The foreign market once commanded
all conflicts between the different sections and industry
of the country would cease. 1t is better for ant
you that cotton should 90 out in yarn and goods
than in the state: and when that is done, the inter