Bloomington herald. [volume] (Bloomington, I. T. [Iowa]) 1840-1849, 1841-05-07
4 PROTECTIVE TARIFF.

II INO EN- Il AMT
1--WE are told that, by producing articles
at home we shall save the country large
amount of money which would otherwise
go abroad and which, if retained at home
would greatly add to the wealth of the Ma
toni hus, few years ago, our Minis
ter at Constantinople, in recommending a
new mode for the introduction of silk, ex-
pressed hope by gradual introduction of
its culture among us, to save, IN the end,
millions Of money which finds It's way on
this side of the Atlantic"
This doctrine of saving money is one
of those popular fallicies which are but too
prevalent on the sub ect of national wealth.
1t should be remembered that commerce
is an exchange Of Equivalents an exchange
which is equally beneficial TO both parties.
Now it makes no sort Indifference wheth-
cr this exchange is effected by means Of
money or Of goods, as in either case it is
made value for value. If a man wants .
ha, more than he does five dollars, he is
none the poorer for parting with his mon
ey. The loss or gain therefore. which
would attend the home production of silk,
must depend OH something else besides
the mere passage of money across the At
lantc.
The halter who should undertake to
save money by making his own boots,
would be regarded as very poor econo-
mist, as every body knows he could pro>
cure more boots by his undivided attention
to his own business, and exchanging pro-
duets with the bootmaker than he could
by dividing his time between boots and
hats. So, as it regards the culture Of silk
the saving TO the country will depend
on the fact whether more silk can be OBJ
tanned by raising cotton, wheat, or tobac-
co, than by cultiva,lng muberries and
propagating siulworms. If i, costs more
to produce the silk than'to procure it bv
exchange, it is clearly no saving 10 the
country.
Another faIlacy quite as common as the
last, is, that protection is necessary TO en-
courage domestic industry. Thus we Of
ten hear it asked, when articles of luxury
are brought into the country for the rich
"Why such men do not encourage home
manufacture, and give encouragement to
domestic industry ?" At first view this po-
sltion may appear quite natural. But let
us examine a little more closely. / hese
articles have been procured abroad in ex-
change for American products, and are
therefore usl as much the result Of Amer-
lean industry as if they had been produced
at home. Who will say that the laborer,
who, at the end Of the week. exchanges
his wages for a coat, has he not procured
it by his own industry just as much as If
| he h ID fabricated 1t with his own hand
Further: let us suppose that d wealthy
| farmer in New \ ork chooses to clothe
his family in the richest kind of silk He
could do it in two ways. He might list,
employ dozen men 10 plant mnberries
and carry on the manufacture on his farm
or, ID, he might set these men 10 plough
ing his fields and producing a crop of wheat
The wheat thus raised, he would exchange
with southern planter for cotton, and
this cotton he would exchange with {
Fench merchant for silk. Who will say
that the foreign silk is not Just as much
the product of American industry as tho
it had been made directly by The laborcr:
of the New Y ork farmer ?-IIunt's Mer,
chants Magazine.