New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1842-07-09
What Protection eannoi do.

What PrOteCu0n fUuuot 0o'
One of the les ser lights of IOCot ocOIsm IN TINS
City-we forget which, but it matters little since
the same idea is repeated in each OF them, great
and small, some forty or fifty time. per annum--in
giving the Foreign News by the Caledonia, iavors
its readers with tie following startling statement
and prsfound deduction, viz:
Great distress still prevail, in the Manufacturing d.
trc,s of England Notwithstanding her hgh Protfc'' Ia
rfand National Bank"
Now we must presume that there are human
beings to whom this lame ghost Of superficial anal
ogy stands in stead of an argument; who are really
confirmed in hostility to Protection and Bank
because ENGLAND has these, and yet many OF ho'
People are destitute, They do not trouble them
selves TO think whether their des,iluton bears any
relation to the matters with which ii is thus arbi-
trarily connected they do not cara to ask hor
DESTROYING the Bank and aboshing Protection
would mend the matter; they swallow the potion
MS it is made up for them; and if it ran thus
Liberty is not worth having for the Indians
have that in abundance, yet are ignorant dcs,l-
tute, drunken and wretched, they should, 20 be
consistent take this down also. with closed eyes
and hearty gusto.
Let us first consider what n National Bank does
for England;
1t secures 10 her a perfectly sound, convenient
aud sufficient Curr.scy. Her lborers aro not pad
in barter siorc-pay, asd such truck, nor IN rags
which must be shaved to get rid OF them, and can
not safely be kept over night. There Is no such
thing there as telling Il laborer want TO hire
YOU, but | can't pay money Her travellers can
take money enough in small wallet TO carry them
around the world, and it will be worth its face al
most any where, and generally more. Her farm
err. mechanics merchants, have no tax on their
receipt. to pay for discount; what they get MS
money ,hov can pay away money again, or 10
init to any part of the Empire. We doubt not
that more money i, ral for and more men i've b!
discoun,ing uncurlent money in this City than III
all Great Britain, though the paper transactions Of
that county far exceed ours. This is what Ma
tional Bank does for Great Britain.
Protection has greatly contributed to render
Great Britain the richest, most commercial and
powerful nation on the face of the earth; having
drawn hundreds of millions in preciou, stones ana
metals from the rest of the world within cen
fury, and involved nearly all agricultural Coun-
,re, deeply in debt to her. At this moment, 'he
virtually OWNS the gold mines OF Mexico and Souih
America; and if they and We would but admit
her Manufactures free of duty, she would Virtually
own the whole continent, through debts Hoit-
cages, etc in another half century.
10 see what Protection has done for Ing land
let Us imagine that the People Of THIS Counir,
were but doomed to bear the burthens under which
those of Britain now stand (Thc Population and
Capital of Britain are greater than osrs bet, on
the ether hand our vast extent OF fertile soil Va
ried and genial climate. naygablc waters, natural
produc,ions. Sc SC 50 far exceed hers that II j.
fair to consider the intrinsic capacities OF the two
countric. equal.) Now suppose the Productive
Industry of the Union sadded with 4 National
Debt of Four Thousand Millions oil Dollars bsar-
ing an annual Interest of One Hundred and I"en'
~ Millions, with Govcrnmcn, and Military cost
ing an equal or larger sum Let one-tenth OF al
the fruits Of the earth he absorbed 10y an Lsiah-
lished Church, besides what the People II Di'-
seniors. nav them own Clersymen; let n tenth IN
addition of the arabic land he absorbed IN koyHi
Forests, parks and pleasure grounds OF the No
bili,v, &c. sc. aHd how long could our Industry
bear M under it Certainly not The first year.
Now it is most true that while Judicou' and
steady Protection may do much tor a country, the
Protective system of Great Britain, such az It l.,
docs no. and cannot correct all possible evils II
c.nno, abolish the Feudal System Of the Norman
robbers who came in with the ConquoIor,-or the
laws of primogeniture entail, &c. by which they
pcrpetuated to their descendants the monopoly OF
all property which they obtained by ,h- sword. 1t
cannot shake of the grasp OF the State Church on
tenth OF all the product OF the land. Il cannot
annihilate the National Debt, or make an annual
drain of Two Hundred and Fifty Millions from
,he Industry OF the Country heabite thoash II