Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1842-01-24

from the official records. Selecting pcrods-l8lG,
when the first protective tariff laid. and 1882, when
tho compounds bill was passed, we find these results
Price. Duty Price Du,y
Braces of2i Bits lss lod 2operct. IS IS per Ct.
steelyatd., per pair, IS ed 20 Is Is
Hinges cast bats, pr d. IS I'd 20 Is dd25
ConPasses, rule j. pr d. Is I'd 20 Is i0d p
Curry combs per doz. is lOd 20 HAS
Here it will be seen that as the duty went up, the
pfice ithe articles upon whichit imposed went
down. ''Nor is this principle" (says Mr.. IIudson)
illustrated by the manufacture ofiron alone. Other
clos which have enjoyed protection, have also fallen
in price. The same A cotton sheelngs which in 1916,
sold at Is Sd sterling per yard could be bought in 1929
Tor ! al sterling Printed goods costing in 1916, sc
shngs per piece could be bong in 1882 from IS
BPS. per piece. Common blue and white calico, costing
IN Sl6, 32s per piece, could be had in 1889 for IL
5s per piece. BrOadcloaths costing in 1917 COS could
be had in 1889 for Is. lQd" ia 1916, nails were
selling at wholesale for cents per pound duty Of
cents per pound imposed BY t. tariff Of tina, year
and the very next year they went down to nine cents
per pound. The duty subsequently raised to
per pound and the price Ct nails Las been reduced to G.
. 6, 3, and .eyc to ii cents per pJundtha is less
taa the protecting dity" These are facts drawn
from the official records, and challenge denial
Here, the reader VII perceive, is an article fall
ing gradually from Il cents u Il cents, per p,ia1
while the duty, goes up from nothing to 8 cents per
pound II the consumer paid the duty, these nails
would have been lG instead Of ] cents but the CT
feet Of il has been enable the Consumer instead Of pay
ing tax. effect saving Of 81 for every pound
Of nals lie purchases Mr.. Calhoun Nh Rhott and
1ttor5 may declrin. much possible about taxing
the South for the benefit Of the North" but if this is the
manner in wach the tax operates, the people, if they
only be nd.ced throw aside their preudices, and
look at the facts, viii never complain.
Now let us the process by which this augmen'a-
ton of duty produces reduction in rriceand to this
portion of subject invite the especial attention Of
our readers Mr. Hudson referring to the grca, princi-
pie Of compensation, says:
This principle. (which every practical W II rcadi-
y acknowledge enters largely into commerce, both
foreign and domestic, aud has all important bearing up
Oh prices Keeping this principle In view, let us inquire
into the effect Of tariff upon prices. Suppose ar
Gle paying 20 per cent be subjected to 20
per cent duty; according to the gentleman s
doctrine the price must raise 20 per cent. in
market. But in fact, this will not be the ease.
The American merchant who has been in the habit of
king this article OF an English house to the Of
$4,000, writes to his correspondent in Great Britain,
that in consequence OF the increase Of duty, he
take but s. 900 unless the manufacturer will reduce his
price. The British manufacturer, knowing full well
that if 600 worth Of ms fabric be thrown into his homo
MARKET 1t VII reduce the price. aud lesson the value Of
his whole stock hand, Immediately reduces his price,
and supplies his old with the usual quantity
Of the articlcIhc OF the reduction will depend
upon the OF the market: sometimes it will be
and sometimes less. The average, perhaps, would lie
half of the increased duty the foreign manufacturer
paying ouchaf additional duty, the actual duty paid by
the importer would be 80 per cent. instead Of 40 But
the increased duty would protect the manufacturer,
citizens would embark with Yankee zeal in this spe-
clcs of manufacture This would produce competition at
home, and the increased quantity Of the fabric thrown
into market would have tendency produce
plus, and this would to keep down the price Here
would be double competition competition between
the foreign and domestic manufacturers, and compcti-
ton between the domestic manufacturers themselves.
The natural tendency Of this would be reduce prices
It's operation would be less sudden according
the character of the manufacture If it costly kind
OF manufacture or which required great experience
SKILL 1t would take longer 10 bring thus reduction about
But the manufacture ofsuch nature as To require
but little capital little experience, the competition and
consequent reduction would lie more immediate. After
making all allowances for fluctuations from various
ses, We lay down general principle, which will
hold good take number Of years in succession that du
ties looking t" protection If they juJiconsly laid will
reduce prccs'
And again M Hudson illustrates this principle in
the following conclusive manner
But, sir, shall probably be told, tina, if increased
duty tends to reduce prices it affords protection to
the manufacturer This position specious than
sound jndclous tariff does protect the manufacturer
though at the time reduces prices. DiscImina
/ tiny duties enable our own manufacturers to compete
with the foreign thy securing them against the policy to
which foreign manufacturers frequently have recourse for
the sole purpose of destroying infant establishments
am aware that it is difficult present abstract prn.
cplc clearly to the understanding Of the House; and
thp h,.n nh t,pT Of II.