Jeffersonian Republican. [volume] (Stroudsburg, Pa.) 1840-1853, 1840-03-28

V from foreign countries but if he goes into it as
e they will be--ten dollars under the operation OF
the new theoryit is plain, therefore, that with the
l. same amount of labor he can purchase but half as
= much foreign merchandise in other words it will
in effect be doubled in price, where it apparent
: ly the same
But the Senator did not stop here, for ne alleged
that, while tie laborer would be in better condi-
tion the exporter of prOduce--that is cotton &c.
would derive greater profit, the measure of which
would be the amount OF reduction of wages and of
property, as he would be able to produce so much
: cheaper To make myself understood, VIII pro-
} ceed with the same sHpEositioH, that wages and
{ property to be reduced One-half Then his
theory is thatthe cotton planter for example would
produce his crop al halt the present cost by the sa
wing in labor and tie support OF il, and consequent
ly derive double profit That he would produce
cheaper is undeniabIy true; and if he should sell
for the same price he now does, and bring home
specie he would realize double profits provided his
laCOrerS are supported wholly on the products of
the United States. This however is not the course
OF trade OF of business. But from foreign coun-
tries, for no change 10 occur there bus from the
pockets OF every consumer OF foreign goods in this
country, for the change is wholly in the wages and
property sink together -hl The relative positions
of the laborer aud the owner of property are the
same, for the laburer can purchase Is much with
one-half the money, and the same amount of prom
erty will purchase as much labor as before But
the lab0rer will, az the end OF any given period
have but half as much money, and the same amount
Of property will be worth bat half as much: con-
seQuenty, all the surplus gains of the farmer me-
Chanic, manufacturer, and aborer viii be but half
what they now are, in nominal amount while the
value Of such goods is unalteTed II property in
foreign countries should descend in the same ratio
the most that could be said Of our condition is that
il is worse, for il is obviously no better. But
ii we descend while they remain stationary. and
profit is then gained 10 the exporter nothing is more
palmer tha. such profit is drawn from the consumer
OF foreign merchandise, as 1t viii take twice as ,
much OF orr labor or products TO buy it as is now
required. Ii the theory establishes the fact that /
the exporter IS TO reap double profits for cotton it
establishes beyond controversy the fact also that
that ploht Will bc n tax upon every man that con-
sumeS foreign article, and rhai it will be wholly
drawn from their pockets. Ine Senator has led
himself INTO an error 10y surprising that foreign
productions are to come us cheaper, while o1r
exports are TO keep up where they are He thinks
tile importer sells IN a market inflated by paper
and realizes and extraordinary profit. But he
must perceive that the low and depressed state of
the working classes in Europe is proof enough that
no excessive profit is obtained here upon goods
none that can bear essential reduction; and that
while raw cotton maintains itg price, foreign goods
must also maintain theirs. In the great competi- !
ion OF trade t|s idea Of excessive profit to the inn
porter IS iailacous; aad as the notion of reduc-
Il lS
llso tallacious. i
To follow out the case have supposed i
The income of every man, except the exporter
) 10 be reduced in the value OF wages and II
property one half, while all foreign merchan- Y
ize VIII cost the same, which will obviously, n
n effect, double the price, as it will take twice
he amount of labor, or twice the amount of the
rodncts of labor, to purchase it. 4
I 10 1, Il
is enough for me that friends do What res Il
onse will the farmers, mechanics, manufacture m
rs, and laborers make to such fagicious pro- ri
osition Can they be reconciled to such a q,
leasure of oppression one that EFFORTS from es
lem the fruits 'of their industy to professedly h;
nrich the planter who now enjoys prosperity pt
uequalled in the rest Of the country No, sir, pc
Ich plans of sectional aggrandizement, and &C
lch disregard of the interests of the great of
st and most powerful people of our country, Of
al only excite their disgust and Indignation. pc
hus, sir, have traced the benefits of this bill re
1t have any interpreted by its friends to the to
ch and powerful | have, if | mistake net, tn
they are to be made richer by tax co
pom their less fortunate, but more industrious or
I'd more necessitous fellow citzens--a tax tn
ey never can and never will submit to so long lie;
their power can be felt through the ballot gi,
)X. ito
But sir this is not ALL While we are thus to isl
I've intolerable burdens loaded upon US, to add EN-
the weight of our embauassments, and to sti
crease our suiierngs and while the debt Sc,
portion of the community are TO be crushed As
ID ground to dust between the upper & neither
lstone of this process, the man of money is
ly to escape unframed but to have his mon
doubled He who holds, cash or its equiv of
INT in bonds, notes, stocks, will be able to res
y double the amount of property with it, and Mi
II therefore have It's value doubled on his an,
nds for while wages and property are to rec
down, money is to 60 up IN the same ratio. foil
If the friends of this bill have given it to by
e construction, it is bill of privilege to the
h, but scourge to all others; 9th
What is the debtor portion of the public ? Is kin
SO insignificant as ito be disregarded! Sir me-
will venture TO assert that the amount of exs- the
g Indebtedness in any commercial country is con