Staunton spectator, and general advertiser. [volume] (Staunton, Va.) 183?-1849, 1842-10-27

thoSe reports 20 De rendered.
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PROTECTIVE TARIrF-AND IT'S INFLUEN.
CES UPON AGMCULTURE, Sc, AND TIE
NATIONAL PROSPERITY.
The "Lcague of Industry" published at Rich
mond, examines and exposes the fallaces and alb
surdites of speech made in the Senate of the
United States by one of the Senators from New
Hampshire, on the subject of the Tariff, in long
and very conclusive article. The Senator attempts
to show the insignifcance of the Manufacturing
interests as compared with the tgrcultural, by
quoting from the last census the amount of only
eight agricultural products, which exceed i'm val
ne, by hundred per cent. the whole capital EN-
ployed in manufactures. These articles are In
dian corn, hay, wheat, oats, cotton, potatoes to-
bacco, and wool, which at the prices designated,
he makes to amount to $500, 29S,O9o. The
"League oil Industry" takes the same articles,
ard makes them amount at present prices, to
misunderstanding reduction and loss in
value to farmers, of SOB ,6G3 900! The "Ieague"
then adds list of other articles taken from the
census, which at former prices brought the far
mers $l09,3l7,75S, and which it now makes
worth, at the selling prices, only SSO,6IG,-
377-showing a farther loss of $2S, 1851.
1t next adds a list Of the animal productions.
which give on aggregate at former prices of
S4O4,7l2, 267, on which it shows loss of Sl24.-
22S, i2s. Then it gives list of Slave property.
on which 1t makes farther loss of 81 &c.,
~~"d on hires Of same, S2l ,S7a,l3O. Thus
90 u"s live stock and anrio"it"-l
productions for the year were worth, under Tariff
to considerable degree protective, one thousand
etShl hundred and sirty-S:.r millions of dollars.
and that the reduction of the Tariff, under the
compromise act, to the lowest point, reduced the
value OF this property the amount of fire
hundred and Mirty-seren millions Of do.lars; be-
ing more than one-fourth Of the whole sum- Eve.
cry body knows that such property has been re-
duced IRON fourth to third in all The practical
operations of life, and where forced into market.
frequently to,less than half, which proves that if
the above calculation be erroneous, il is IN NOT
carrying out larger loss in the value of the pro-
perry. The loss on other personal property and
on real estate, is Incacuable, and so great and
universal Ceinarks the League) that all will adj.
nit it.
The amount Of domestic manufactures made
In the United States, in the year 1910, was $685.
S32,6l5, and of foreign articles imported for use.
SS0,o5l ,207. and famly-nade goods $40 .o23..
20S-making the whole supply of manufactures
Sol3 1907 ,3S0-being less than the annual loss on
slaves, live stock, and agricultural products since,
by t'oenfy1four millions IF doNurs. This is
striking fact, and another remarkable f.ctcted by
the League is, that in tho present year (ISl2) it
Is estimated that the Domestic manufactures will
not exceed one-fourth the former amount, and in
no event more than ons-,lird. Here then is a
pf c,ct
dred and sir y-ihree and haE millions Of dollars,
and there is loss on agricultural products, live
stock, &c. of f,co HIN red and eighty-eisn and u
hdD millions IF dollars. From this it appears
that the value Of agricultural products live stock
&c. Is increased and diminished in almost exact
proportion to the increase diminution of dones-
tic manufactures; as for example, in 1870 The ar-
ricuitural products were worth 37i5 ,Gl5 1857, and
the manufactures, &c. worth $5l3 ,9O6,2G2. The
domestic goods have been diminished 263 $685.
4lo, and the value of produce, live stock, &C. re-
duced S2S5, G45,957. The "Lcague" asks
Nv by Is this! Most clearly, because the do
mestic manufactures are eXchangeable for arr-
cultural produce, the same as money! at eouiya-
lent values, and the denominations OF money are
only USED as signs OF value IN making the exchan-
ges. And 200 millions of dollars less OF these
means to pay for agricultural produce, and it was
compelled to fall for want of some equivalent val.
ue, 10 purchase it. Ii we had no money, and
were out of debt, with IT'S millions OF dollars
worth of produce and 5l3 millions Of dollars
worth OF manufactures, could exchange COM
Inoditles aud live well. And hence the increase
or elimination of money does not raise or lower
prices, Ike the Increase dininuiion in the guam.
thy OF the main articles which are exchanged as
equivalents for each other. For in 1887 when
.he Banks were at high tide, and had in crcua-
ION 81 10, lo3,50O. and loans aud discounts So
1912, (the highest points they ever touched in
he United Stdtes,) prices Of produce and goods !
id not vary much from those Of 1910, when they
ad by rapid curtdilinent5 reduced the circulation
12,3I7,3i5 aud the loans and discounts s62,- !
1919. Although there has been considerable |
duction since 1910, still it has not been so great
that Just mentioned, nor does it bear any com
irisOn with the reduction Of ndnuiaciures---
here mas been great increase of imports in ar
lies formerly made at home, without cores
udinlr increase of domestic exports. In 1870
e exports Of domestic produce amounted to
10, 33 1913, including 93,4l7.0l7 Of specie:
d ia 1911 SlO6,353,722, including 3iO,o5i,-
y, Of specie.