Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1841-09-20

"
plain the effect OF duties in all cases and il l.
seif-evident they have nothing to do with the for
" bale theory, which is nothing but theory The
sure signs which indicate the class TO which anv
article belongs are rising or falling prires-bpb
and low prices They are the indices not abso-
lutely OF general over or under production. but
of over or under supply in the market for The time
being. Let gentlemen apply these principles to
the article OF cotton for the last twenty five years
and they will find that, instead of being snbiec,
TO the forty bale theory, has in fact been EXEMPT
from its just share of taxation.
There was another question in which the man.
niacturing interest, and he thought the whole
country, was deeply interested. He would inquire
on whom, for the same PERIOD had the duties on
me imports OF the manufactures Cf Great Britain
principally fallen? During that period our man.
uiaciures had been competing with those of Great
britain, and, to the whole amount of their pro-
ducts, had so far excluded an equal amount of
those of that nation. During the same period
their manufacturers had been constantly increas-
ing, and the effect had been an increase of tho
products of their manufactures beyond the de-
mand OF all her markets, domestic and foreign
This IS proved by the surplusses they have
been constantly throwing upon our market, and
disposing of at auction sales. What else could
lhey do with them! lfthey threw them on their
home market, they would depreciate the value of
their tohole products there and their home mar
ket was their best market If they threw them
on any foreign market, where they had monop-
oily, 1t would depreciate the value OF their whole
products in that market. Than to do either. il
would be for their interest to burn them They
have resorted 10 The markets of this cOuntry-her
greatest manufacturing as well as commercial RI
val-for the donble purpose Of getting some val
Tie for these surplusses and pros;rating our manu-
features, III the hope of re-establisbinp their NM
nopoy here During most of the time. for the
last twenty-five years, the supply has exceeded
the demand, and, as a necessary consequences our
duties have borne on the foreign manufacturers.
A large proportion of those duties had been de.
Quoted from the price abroad. He believed il
would be found that duty of fifty per cent, had
never raised the price to the consumer to the A.
mount Of twenty per cent. In his opinion for
eigh manufacturers had paid more than one half
OF our war debt, and now contributed largely to
our revenue me great advantage OF duties over
were Ue"' eomueIed to nav was, that foreigners
share, of them, by reducing their p. uua large
draw our manufactures from our marke,, with
would then be no surpusses of foreign manufa2
tures. Our competition has produced them, and
the consequent and constant reduetion of prices.
The amour, of that reduction, for the period mem
toned has been greater than the amount of all
the burden the tariff has imposed on the country;
and, on the whole, we have actually paid less than \
if TO tariff had existed and no home manufac-
lures been established. Add to this that, by the
home trade, we support each other, and render
war. We all remember the war prices.
To such extent had the reduction OF prices
been carried in Great Britain, and principally 10y
our competition, that The wages Of labor had been
reduced 10 bare subsisence-to starvation sub
sistence II derived in part from the employers, and
the residue from the parish taxes taxes which IN
amount annually exceed the whole expenditures
of this Government He would appeal 10 the
South to the friends of free trade every where
do they desire to reduce The labor of the North
to the condition of foreign labor? Were it in
their power il foi their interest to do so ? He
said he could rely on nm appeal to their interest
We now one of their hest customers the
time may cone when we shall be their only Gus
toner Tor the great staple. But for the jealousy,
and the continued agitation OF the South, and the
consequent hucuaton of the protective system,
the manufactures which they lave raised in Eu-
rope might have been erected here. The time
would now have been, or shortly have come,
when we could manufacture every pound OF cot
ton raised in the South. And the industry, the
economy, the skill, the superior quality of our
manufactures, would have secured TO them and TO
us the market of the world for their products and
for our labor. .4nd he hoped to see the day tchen
our mutual interest shalt be thus combined, and
jealouises and heart burnings throUa to the ,cinds
He had said that the time might come when
the North shall be the only customer for the cot
ton of the Souh-when its products shall be lin
te,i to the capacity of the manufactures of the
North. Can The South shut their eyes TO what is
now going on TO raise up rival interest ? Look
to the various cotton regions in other parts of tbs
world Peru with soil and climate, none more.
fertile or piopitious-with plant, of two years.
lfe affording staple exceeded, or equalled, by
none but the Sea Island: labor cheap, with all
these advantages, now producing cotton, with a
fair profit, at only four cents pound! The Rio
Grunde, the future Egypt OF this Continent, Tex
az, and all South America, from Mexico to Bra
lziI a Va hnt
still more formidable rival-Great Britain aid
British India. With The spirit OF rival TO cur
commerce and to our manufactures, sho is e.
pairing for events aud to TO herself, frt m
her own dominons supply of every article ne-
cessary for her manufactures. She has in In'lia
a soil, seaward and lnndward, capable, probably,
of producing the best staples. Should the opium
trade be broken up million of acres Of the b, 81
soil can he added to their cotton region. She as
laken your best seeds, your best planters, yolr
best machinery, TO India. She is encouraging d Q
growing of cotton by bountes; and certain sell
iimeni is giving an irresistible impulse 10 her e1-
ertions. She is, marching TO her object with
firm, an uniaering and unliring step. Events
may come and are coming, Which shall compel
the South even TO change, in part, the course OF
their agriculture from cotton to silk, to which
their climate affords every Advantage. But this,
like every other change in the direction, OF labor,
will require protection-to them as the producer,
and 10 US as the manufacturer. Young establish
ments, like infants, require protection till they can
stand alone.
The time will come when the value of the Un-
ion mud The value OF the parts TO each other will
he better appreciated. And this will be found 10
spring from. what al first view mi ght seem the OPP
posing interests Of the different sections OF the
cou.try. We have a variety Of climate, OF soil,
Of products; necessarily requiring variety of
empoyments. All cannot he growers OF cotton,
or of rice, or OF tobacco, or of wheai or oil Wool
all cannot be manufacturers. But each Will be
found necessary TO tho other. We belong to abe
same country - to the same Government, We
have one interesl--one destiny!
Mr. T.. said he desired TO say a word concern
, ing the compromiso of 1888, He had seat here
when that ACT was passed. Those who chose to
consn,, The Register of Debates of that day would