Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1840-03-05
WHOLE No. 4S9.


always be the case,--just in proportion as
the production and manufacture Of oil those
articles are encouraged by nation necessary
10 give steady employment to oil classes Ut
its population. The more articles they pro-
duce and manufacture themselves the more
they will have to dispose of, aud the greater
will their ability be TO buy Of others, and
should they satisfy their every known want
at home, artificial wants wonld couse the im-
portaton of something or other To the snieuDt
of their surplus producls-even II ship loads
shonld be sen, 10 the Straits Of BabelmaDdel
and exchanged for cargoes of Arabian sand.
In ancient times il was customary TO reckon
distance by tlme-this is perhaps the most
rational mode--and when men become wiser
1t is possible the price of an article of pro-
duce or manufacture will be reckoned by
ltime.-lnless there IL some peculiarly OF
soil Or cm,te necessary to the production
or manufacture of an article, we shall say
that which requires one days work oi man
in one country, costs as much as II would
provided the same days work wns expended
IN another country. II il true the lsborer
may not reap The same benefits himself from
his labor, expended in orc country as he mny
IN another but the real cost OF tbs article
will nevertheless be the same" Here lies
the difference" ."-1he nb0rers (ior instancc)
of the United States, enjoy the full bcneht
Of their wages, while tho laborers of Great
Britain for lnstancc) have not only to earn
sufficlency to support themselves and iami-
lies. but are compelled at the same time 10
support al least one fourth of their ncighbors
in ldlcness, and who live al perhaps ten times
the expense they do the emselyes. There can
be nothing acquired by man necessary 10
satisfy even his simplest wants without moro
or less labor. II was so ordained by his
Creator from the beginning.
Ii follows of course that those who pur-
chase the products Of the laborers Of Great
Britain, in that same proportion indirectly pny
for the support of those ldlers.-and yet tho
people Of the United States ars told they CON
AFFORD Ia send their raw materials more than
three thousand miles across the oceun, and
wben manufactured, bring them back aud get
their goods cheaper than when msds AT home.
1t will believe be admitted by oil, shat on
American mechanic can make as good ma
chinery as any foreigner, aud that onr AmerI-
can laborets can do US much with II In
given time as those of any other conn;ry.--
Ii will also be admitted that we have sur
fcent water power and coal TO inpel anv
amount of machinery whatevsr.-With all
these advantages. our purchasing the man
ufacturcs of foreigners in preference to max
ing them ourselves, amounts To the same
thing as if we should send (say) 100 of our
own manufacturing mechanics and Ioborcrsto
Great Britain. under the impression that they
could there make goods tor Us cheaper than
n, home. In the first place, we must bo at
the expense of transporting our cotton. our
wool, our iron ore, and other rnw materials,
across. the ocean-Bll Of which must 10y
duty on their arrival in England. We must
then be u, The expense Of sending our Hour,
our rice, tobacco, sugar, molssscs, beet, pork,
butter, lard, cheese, poultry, mutton, veal,
corn, rye, barley lumber, wood. potatoes, ap-
PIES turnips, cabbagos, hay, straw, beans,
pens, fish, aud the countless variety of arti-
cles, the produce Of our soil aud labor, TINT
are consumed by the lsboring man, and ne.
cessary for his comfortable support.-Ws
shall not only DO obliged to pay the expense
of transporting those articles across tho
ocean, but when they arrive, be subjected To
pay a heavy duty on all of them, not only iot
the necessary support Of the British govern
ment, but also for an immense number of
Idle aristocracy, who subsst on the interest
of the public dsbt-and a vast number of
other Idlcrs as before slated who while they
consume more than their proportion, at the
same time produce nothing themselvcs -
Under tins state of things, is 1t possible that
we can pay another return freight for the
manufactured goods in addition, and yet have
them made cheaper there than q, home.
What signifies the price the British goods
con be bought for in specie ?-All the specie
we have in the United States would not pnr-
chase supplies sufficient for the subslslencs
of our population 10 erceed tuo 'cefks. Tho
true principle Is not how much money an "r.
tcle costs, but how much time or labor, or
how much of the product Of labor we pay Tor
it. On this principle, which is the correct
one, we shall find that what apparently costs
one dollar in Europe, will frequently require
ten dollars worth of our products to pay tor.
Oar sending so many products abroad instead
of using them at home, 1t IS true would MAKE
great show of business, bu, 1t would be up.
on the same principle that the Indian rolled
the stone up hill to see II roll down again
The cost would altogether be a tax os oUr
own industry. The writer has alrendy shewn
that the planter paws but l-2 cents per
yard for the whole expense Of manufacturing
a yard ot coarse cotton goods many descrlp.
tions do not in reality sell for more than "a
cents per yard beyond the cost Of the raw
material How is it possible to ge, them
much cheaper even should the foreign labor
or work for nothing lit would not ~ that
case vary the price TO exceed one cent per
yard o, The most, md the only means OF as
senlially reducing the price Of the manniac-
tured article, will be by the reduction on tho
cost of the rn W material.-This viii no doubt
be the effect of specie currency aud Nh aoan.
donment Of the ,urltf.-Ana IN thnt cos the
foreigner will probably get our products Tor
tho one half they now do. while theirs VIII
Come cheaper to us only IN the same RATIO 40
our decreased ability to- purchase shs cause
a less consumption, and consequently less
demand IN that case, by the immninble laws
of trade, reduction ~ price vii be the con.
sequence. although TO probably but very
small amount, Ms the quantity ~ foreign
goods consumed in this country Is but small
compared with the consumption Of the whole
world. and the price will Of conrse only be
reduced in proportion, rs the aggregate de-
mnnd OF all tie nations of the earlb combined,
~ lessencd.
BY turning to- price current, say OF 1910
or 1917. we find that the prce Of most foreign
articles disconnected with manufactures s,wero
mitch higher at that period than they have
been under the false system"
Coffee was then worh por lb.fm y TO % cts.
Moassrs. per gallon from 30 to 80 c's.
10 I..Ia