Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1842-01-31

ten cents per pound aud il enjoys protection OF
nine cents per pound, being some 100 per cent
This article is made in Pennsylvania, Ohio, and
New York. as we'll as in New England. Remove
the duty, and the cheese Of England and Germa
ny would come into our sesboard cities, and drive
the domestic article from the market, or greatly
reduce the price.
But the great value Of manufactures to the far
ner is tho MARKET which they open for his pro-
duce Where would the South and West find a
market for their "yellow corn" which the gen
lleman from Virginia Mr.. Wise] so frequently
speaks, IL we had no manufactures in the North
and East ? The ports of Great Britain are shut
against the corn, the wheat, the -four Of the great
grain growing States. These great staples to-
getler with the rice Of the South md the pork Of
Ohio, find their best market at the North, among
our manufacturers There were imported into
the city of Boston alone, during the year last past,
1000 900 bushels Of corn, The product of the South
and West, while the quantity raised in the Stale
amounted to only 1900 600 bushels. The -four
brought into the same city, amounted to 100000
barrels, and the rice to 10000 casks. A small
portion of this was sent into New Hampshire !;
but much greater amount was brought in through
other channels, and consumed in the State.
can then address myself TO the grain growing in
tercs in every part oflhe House. and say 10 them,
the subject is one in which you have n vital con-
Germ; and If you know your own interest, as
trust you do, the manufactures at the North will
uc us ueHI ~ you rs IHey are 10 NOTtneTH incn.-
And yet gentlemen on this floor will tnlk about
manufactures being hostile to the public interest,"
and especially TO the interest Of agriculture
The manufacturers as such, are no party in
this case. The great party interested ia the labor
ers, The working men Of The whote country. And if
gentlemen insist upon presenting this as II suit
md will have parties in the case, the true parties
are the idborers rs. the idiers None as it seems
to me, Gun be hostile TO manufactures, or 10 the
productions of American industry, unless it lie
those who lead life Of idleness, and wish to live
upon the Iabors Of others. But sir, do not al -
NIT that there are my parties in this case. The
country, and the whole country, has Il direct in
lerest in the success Of the American system, in
the encouragement Of domestic industry.
That we mhy see the effect of manu- features
upon our general prosperity, let us suppose thu;
they were all destroyed, all struck down at n blow
Then the 100000 persons now engaged in this
branch of industry would oil be turned loose up
on the other eallings in the community. Most OF
them would seek the henlthful employment of ag-
rcultiire, and would naturally settle in the fertile
valley of the West And whut would he the con-
sequence? These products Of The earth, which
are now so abun liant that they would he almost
valuless, were it not for the markets found in the
manufacturing DISTRICTS would become still more
abundant. And where would they find market?
They could not exchange them Tor the monufac-
lures of England for her corn laws would oper-
ate as prohibition. These 100000 who are now
consumers would be converted into 100000 pro-
ducers, making difference oil 100000, Would
this promote the interest Of agriculture? Surely
not; lis products would be greatly multiplied, and
iIs best market would he destroyed. Suppose the
manufacture Of sugar should be destroyed, what
effect would that producs? The sugar plana-
lions would be converted into cotton fields, and the
gentleman from South Carolina would find in
creased competition in the production Of his ia
vorite staple, while his great Northern market,
which now consumes one quarter of The whole
crop, would he lost. Meanwhile the expernets
of Great Britain in India would succeed, und she
would be enabled to obtain her raw material from
her own colonies. Thus would the policy of The
South spread desoaton over the country, and in
volve her in the same common ruin.
The gentleman from South Carolina has assnm-
ed that n protective duties were a tax upon the
people, 10 he paid as bounty TO the manufacture
ers. He has asserted, again and again, that pri-
ces will rise just in proportion to the increase OF
duty. This Mr.. Speaker, is far from being the
nct.. So far is this from being The TRUTH that the
opposite is more frequently true. There is, l ad.
init, no absolute, fixed rule in this case. What is
true Of one article may not be true OF anolher.-
What can he shown to be the result OF duty ut
one time, may not be produced TO the same extent,
at another. Much must depend upon the supply
and demand 1t will also be found true that a
small deficiency in the supply will raise the price
Of the whole commodity in the market far above
the value Of the deficit And, on the other hind,
q surplus, though small, reduce the price of The
whole commodity far beyond the value Of the sur
plus. A surplus worth $4,000 would frequent y
produce an aggregate reduction of the whole
quantity in the market TO the amount Of $4,000.
This principle is SO essential to the right under
standing OF this part OF our subject, that trust /
shall be p6rdoned, il attempt a more full illus.
lration. We will suppose that there are ten shops
in this city, owned by as many individuals, and
that 500 per quarter is q fair rent for each OF
lhem But the number of traders wishing TO &C.
cupy these shops is but nine, thereby leaving 4
surplus of one shop Now, sir, what will be the
practical effect of this state of things? Nine
shops " i'll be occupied, and one will be vacaut.-
The owner Of the vacant shop, seeing all his
neighbors enjoying an income Of 500 per quar-
ter, while he receives nothing, offers his shop for
! 800 on the wire principle that he had better take
| that sum than nothing. This offer induces one
of the traders, who rs paying 800, to quit the
| shop he occupies, and take the one he cun have
for $50. This change leaves another shop emp
| ty; and this induces its owner TO put that at 500
per quarter; this induces another to remove, and
take a shop at 800. And SO they will 60 through
with each shop, ill oil are brought down to $40.
| Here has been reduction of $40 upon each shop
making an aggregate Of 500, being just equal io
the value of the surplus. And how stands the
matter now? Why, sir there is one empty shop
as at the beginning and the same process of re
uuo'o" WI" 90 o''' VIZ '"' P''oe 10 o'o"e"t "o"'
so low MS TO induce some person TO embark in
trade, who under other circumstances, would moi
think Of engaging in this kind Of business.
This principle, which every practical man wi
readily acknowledge, enters largely into our com
melce, both foreign and domestic, and has an all
important hearing upon prices. Keeping this prin
cipIe in view, let us inquire into the effect of q
tariff upon prices. Suppose an article now pay
lug 90 per cent be subjected to 20 per cent. more
! duty; according TO the gentleman's doctrine, the
price must rise 20 per cent. in our market But
in fact, this will not be the case. The American
merchant, who has been in the habit Of taking
this article Of an English house 10 the amount o
$4,000 writes TO his correspondent in Great Bit
ain, that, in consequence OF the Increase Of duty
lurer will reduce his price. The British manu-
facturer, knowing full well that II $1,000 worth o.
his fabric be thrown into his home market, il will
I.rina laaaan aC his L1all