Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1841-05-18


feud, commenced by portion Of their own population
| by such action among themselves will completely
and entirely protect from the danger and consequent
Of the proceedings of these misguided, sedltlous
people, that "must therefore acquesce IN the
cessty, painful it is which compels to announce
our separation, and hold them, We hold the rest Of
mankind, enemies in war; in peace friends"
4 SiRrere Frienl 10 lie Uaion and Wig.
Peytonsburg, May 10, ISL.
FOR TIE ENQUIRER.
THE TARIFF
II is obvious that the Tariff again to be subject Of
discussion | shall therefore make apology for pre-
sentng my notions upon il. II may be considered IN
two points Of vewas means Of collecting revenue,
and as regards the encouragement Of domestic manu-
factures-Is il possible to lessen the burhens
der them more equal, by laying duties upon particular
articles think not But rs the idea is common, that
duties laid upon articles Of luxury are less burthen
some, and those upon articles OF domestic manuiac-
ture more unequal in their operation upon the coua
try shall examine both these propositions. 1t must
be admitted that in 4 community where there are no
restraints upon the means Of employing labour and
capital the profits, in different pursuits very soon
eaualize themselves Ii is not meant by this, that
the profits Of every kind of labour are the same, or
that capital invested in every business is of equal
value II is obvious that the value Of abour IS affect
cd by many circu;ns.ances-such az It's simplicity
arrccaby, heaihiness the amount Of capital neces-
sary 10 pat III operation and many other circumsan-
ccs So ALSO the value OF capital is effected by the
thnns The meaning of equazing Itself IL, that each
species Of labor and each mode Of investing capital,
bears such relation TO all the other, that if, at any
time that relation should be altered, will seek to re-
store itself Lei US suppose a duty to be laid upon
any article Of luxury-wine, for instance. Do not
the commodities with which wine is purchased pay
the duty Just the commodities which purchase any
article ot prime necessity pay the duty on tha afti.
Gle And is il not clear that the duty IS transferred
immediately from the luxury 10 the labour and capital
that purchased the luxury! Suppose duty OF thirty
three and third per cent. be laid upon WINE ; and,
suppose that previous to laying the duty, The obacc0
grower could, b. sending out hosshead OF tobacco,
have purchased three barrels OF wine, he would, after
the duty was Laid be able TO purchase butt and al
though the price Of wine would be increased, yet he
would not be able sell the two barrels for the same
price tia, he could have sold the three so that the
price obtained for the labour and capital employed IN
making The tobacco would be diminished, and tins d.
minulion would be certain, where II arose from
tie purchase Of u luxury upon which duty had been
laid than from the purchase Of article OF prime neces
s;ty-For the increase of the price Of the luxury would
certainly diminish the demand, and the price would
not be much enhanced by the diminished supply, as
il would be in the Of a necessary OF life and, OF
course the value of the abuur and capital employed
in the growing tie tobacco would be more diminished,
than il it had been subject of prime necessity which
would have enabled il to throw the bnrthen imine-
diatey upon the consumer.
But whether the purchaser Of the wine be able to
and thereby diminish the products Of all the labor en-
ployed TO purchase II by those who consume II, or the
great amount if the duty falls in the first instance upon
the capital and labor employed IN tobacco growing,
makes but little difference 10 the community. IN the
last instance il would destroy the relation which the
capital and labor employed in growing tobacco stood
In the capital and labor employed in all other pursuits
If there be any truth in the propositon that they VIII
cqualsc themselves, then capital and labor would be
driven off from tobacco growing, until It had regained
and ANITA H.
Dor uyen of would diffusc itself through all the pur-
suits of the country, until they had obtained the same
relative position in which they stood previous 10 the
laying on Of the duty, and the depression would be
proportoned among the whole. Inc d,n@rence De-
tween my tobacco theory and Mr.. McDnile's forty
bale theory is that he has overlooked the tendency IN
labor and capital when depressed in our employ to 90
of until they have rcgained their natural relation 10
that in other employments, and confines the whole
burthen of the duty to the cotton grower whereas by
applyinp that principle, dfuse it through the whole
labor and capital Of the country. 1t appears TO me-
therefore, that il makes no difference on what the duty
be laid; that it will dituse itself over The whole iahor
and capital Of The country The only difference between
Ia pon Injuries and tax upon necessarcs ~ hat tue
first "a lis more Immediately upon capital and the last
upon labor bu, the labor and capital OF the country
are always seeking their proper relations 10 sacn oer
the one raises capital and the other labor, until the bur
then in each instance is equally proportioned between
them and they regain their natural POSITIONS. II then
as question OF ,axation there be difference as to
the equality or burheu Of the tax upon what the duty
be laid, why not lay it upon such articles as would
encourage our domestic manufactures, answer
that is impossible for the Government to encourage
anv busness they may increase the amount Of any kind
Of business but they cannot raise and sustain It's PROFITS
above its relative position with regard to the prots OF
every other kind Of business, unless they can restrict
the labor and capital OF other pursuits from gong
into the favored one-And the history OF our tarfi
laws clearly proves this. Recollect their dates, ieO
10 nd he m 1-.y5 III VIII De
perceived that they imposed al regular intervals
The same cause producing the effect IN about the
same time. As by an additional duty the ca,
ptal and labor employed IN manufactures was ra'sea
above its relative value apta and labor commenced
a,wino into il from other employments until 1t vas
depressed below ts natural value, and then the manu-
facturers commenced calling out Tor additional duties
to sustain them, and again and again the same cause
nroduced the same effect in about the same time, ana
;, must have gone on producing the effect, until
total prohibition had taken place. and then II wouo
have been impossible for the Government to have al
foded them any farther relief and they mast have un
derpone temporary depression. Bnt the tendency OF
canal and labor to their natural relations, would have
en them lust where they would have been, if the CO.
yernment had not interfcred.
Mr. Calhoun, in his speech upon the assumption OF
State debts brings 10 notice the tendency o. one iariH
10 produce another, but attributes that effect TO the
operation Of the banks think however, that II was
the tendency in capital and labor to obtain their relative
and made then the mere instruments III producing the
equality. 1t not tie banks who by their exPan-
sons produced the equality in the nature OF capital
but the tendency equallze that brings capital INTO
the country and enables the banks to expand and the
of the expansion is again controlled BY tn, the
same principle and MIR. Calhoun Will ma tnai Tue
amount the banks expand does not depend aPo"
what it is safe for them upon the specie ~ lne
vaults. but the s of capital sPa aF s s
hobood and The cap;tal in the other sections OF the
ten millions . be Gs ~bs.
capital necessary to bring about h,nts o. as Mr. Cal
ho"n supposes, that they would receive ten millions Of
dollars from distance and then issue three to one upon
to produce an equilibrium; but upon The sup
position that they are TO issue three for one upon the
increase of their means there would come but three
millions, three hundred and thirty-three thousand,
three hundred and h;ryhree and one-third dollars,
and they would issue three TO one upon it. and the
amount Of ten millions would be obtained which would
be sufficient I'll the vacuum as was supposed il. IS
L. AM dcirc snYr nedt-