Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1842-08-09

,,;,,ed Our duties lessened the demand; and those
rho had already produced supply for greater de-
nuud of course reduced their prices Tor the supply on
hand But can i, be supposed that they wouid con
i;rr te iJot,,ca surplus, when they had full warn
- # IL. Giu.Itsl:sd emand: Mr. Cha'Tman tie de.
.r,:r nature Of these arguments proves inc l'sco u
,ts s;s.am which they are intended 10 support
gn. sappose it is designed-as rather think II H. by
Ills House al east-that the manufacturing in'tres'
should he preferred To all others; and that ali offers,
ms cessary should be sacrificed to IT. is there Il" "a2e
that this bill may fail TO attain the very Objects when
i has in view: Ii seems that there are intrinsic
j t;iculirs which it will be exceedingly hard I" gel
ever In the first place, tie number OF opposite inter
ess which must be embraced in every scheme OF pro-
cction IN order 10 combine strength enough TO adopt
IT, renders it very difficult TO aid one, without impos-
ing a responding tax upon another. Thus, wheh
YOU protect the material aud the manufacture
both the nominal is far greater than the real proiec-
ton which you afford the latter, if the raw mntcrias
Is large constituent element in It's price. 1t you
protect the one and not the other, (as was TIE case
bet ween the manufacturers of brass wire and ot Pns)
the protection which you give the ore IS positive
injury TO the other. And when you tax both, the du-
trs accumulate So fast that tn re is danger either
hat you will prevent the consumption, or throw the en-
tire loss by smuggling, upon the last nleres! III The Sc
RIGS Thus, when you lay duty upon raw wool, you
force the manufacturer to use dear material, when ne
es unable before to compete with tile foreigner, win
even equal terms to the material which they employ
ed You must give the wool manufacturer duty
enough TO make up not only for greater manuiictnT
inc facilities which the foreigner enjoys but also Tor
the greater chtapness OF the raw material winch lie
nses The duties thus accumulate upon The last
form which the article assumes when II Is ready
for consumption and the duty upon the foreign
cloth is SO much greater than sthat upon the wool,
that there is temptation 10 smuqgle the cloth
than the wool And how fares The consumer, mean
while, lie is thus forced to the most expensive
mate ria to employ the most expensive workman, and
yet perhaps, obtain an inferior article after all. MY
friend from Alabama (hlr. Lewis has well observed,
that universal protection amounts TO protection at
all II either amounts to this, or else 1t secures Tor
each the home market, and shuts them out from oil
others The cost of production is thus so much IN
creased tina; il is impossible for the domestic manufac.
,rer TO meet the foreigner upon fair terms in the mar
krts of The world even if the law permitted him to
take returns for his produce from abroad and the price
or his fabrces is much enhanced, that their con-
SUMPTION must be diminished at home. So tina. ore
market is lost 10 him entirely, and the value OF the
other must be seriously impaired
The next, and perhaps insuperable difficulty in the
way of affording permanent protection to nann'ac.
lures by duties upon foreign commerce. is to be found
in the expansion of the currency which II tends 10
produce When the duties of character like
these Of this bill, 10 check imporations generally, the
home producer for the foreign market makes his re
turns in money He must make his returns either IN
goods or money else he must cease to trade abroad
The laws prohibit, to great extent, q return IN
roods and he continues to trade with foreigners he
must bring back money, which ID Tree article
This Of course accumulates until the currency ex.
,ands and prices increase. The currency even en-
c,nrares importation more by enhanced prices than
the duties discourage it, The cost of production II
increased at home, whilst the capacity to sell abroad is
diminished by this rise OF price, and nature once more
asserts lis empire trade by bursting the barriers
holc IN n 10.
cies of productive industry hope much from the pro-
lection OF system which exposes to such fluctuations
as these But if the other hand, the returns oil our
foreign trade not made in money, they must either
be made goods, the trade must cease Ii made IN
goods the treasury receives money, on account OF
the duties But il is manifest that tie manufacturer
eets protec,on for these goods brought m must be
sold, and therefore compete with him. ANA II, IN Tie
other alternative, this trade is destroyed IN what re-
spcct will the manufacturer be benefited: The value
en- Of the home market diminished 10 hun, and rivals
start NJ on every SIDE. And how then Sir, stands the
account between this and the other productive interests
which ought 10 have attracted some OF TIE regards
of this paterna Government: The great asrcui-
tura and eating interests, which were engaged IN
the foreign trade must abandon il all, 10 secure the
monoonly Of the home market 10 the manufactured
The planter must content himself with the home mar.
ket, and the sailor must conhne himself within me
limits Of the coasllng trade. Some OF these results
must follow from the system and any or all OF them
one hand you must expect these fluctuations IN the
currency disastrous TO all, but most so to the manu-
fucturing inorest-or else you must prepare your
selves 10 abandon the foreign trade, and all OF The
great interests connected with H. The difficulty
which the snrgrler iu;erposes TO the success, shall
s,mply advert to- Sir Robert Peel has said that,
after all, he was the yindicator of the great doc
trines Of free trade And that schoolinnsier, II am
not mistaken, will soon be found abroad in this coun
try, as we'll as Easland Twenty per centum in that
II. ,,fe
country is said to cover the whole expenses OF snug
Cling. insurance included; and my friend from Alabama
ITNr Lewisl is informed that thirty per cent. will per-
form the same service in New York But, as SAID be.
fore Buffalo will thrive the less under the opera
ions OF that enterprizng adventure and such taxa
ion as this NAV be considered no tyranny IN that CITY
There is one other mode in which this system ope'
ates TO defeat its own ends, which 1t remains Tor
ne to consider. As | have before endeavored TO
roye the duties which increase the price of the COM
nod;ties which we obtain in for our productions,
diminish the profit of that production. In the end,
il reduces the general of The profits Of every spe-
rs of industry, and, ultimately even that oil the ma
nYfacturers Themselves 1t thus reduces the COED 10
tic level o the bad far the natural rate OF profit
can measure empoyments and dlmlnishcs the general
sum of the national wealth But, TO large portion OF
on, manufacturers only the ultimate, but the hrst
effects, of the system pernlcious There are spe'
cies of manufacturing industry which We know cannot
only defy all competition in the home market without
protection, but contend even for the foreign. Now,
we cripple the growth of these when we limit 10 ihen
the sphere of the home market, by substituting rivals
where they formerly had customers and when we ior.
bid the IN the foreign trade, by prohibiting their returns
We increase too, the costs OF their production, by en-
hancing the price of what they consume in The pfo-
cess and thus chain The living 10 the dead, when
we tax profitable industry to force labor into unproit'
able pursuits. 49,,
This, Sir is, in part, The meaning Of the cry, which
we sometimes hear that the large and established ma
nufac,urers object 10 projection, because they fear The
competition which it will produce They need have no
fear Of the competition; but they may we'll fear the
tax which dimnshes their profits, which ceba's mem
from The foreign, and which limits the capacity OF The
home market 10 purchase their productions. These
might well feel that Nature had given them more ad-
yan,aees than the law confer and ought TO object
10 any policy which forced them TO accommodate Their
motions TO the rickctty gait of the forced and feeble