New-York tribune., 1842-03-22
Free Trade and Reciprocity.


Ia Mr. Condy Raguet's ingenious essay in op-
position to all Coun;ervaing Duties, he=,aNes the
trade in floer and Hide. between this country and
Bucnos Ayrcs for an example, and argues that,
no matter 'rhat dnty Buesos A!yres ShoHld impose
on our F2oar, IL is uauise and ,mpslit,e IN as
TO impose anyo1 her HIDES On this proposition
he offers to stake the whole question Of gree
Trade or Protection, and to bur. all his books if
he i right. Nh c. c. HAVEN OF uuI= Clty, III
his article IN the last Merchants Magazine, takes
up this proposition and replies to as follows:
But to .ccur to Mr. Raguet's essay: we there
see it stated that if nincty-nino of hundred
nations adopt the restrictive system it Is the true
policy of the remaining to adhere TO the prin-
ciplcs of free trade" That is to say, the prnci-
! pies of free trade demand that should export
nothing if other nations choose to restrict US, and
| mtort every thing they choose to send Us, duty
free. Arc farmers, planters and manufacturers,
prepared to welcome such free trade Let as
| see how {. theory, the correctness of which he IS
confident Of that if he fails in proving it true,
he offers to burn all the books political ecene-
N.Y. is attempted to BIZ substantiated. He nstan-
ces the trade existing between the United States
and Buenos Ayres. These countries, 1000 miles
apart, and of course subject to heavy expense in
tralIickng with each other carry on a commerce
IN -four and hides, which each could produce but
find it advantageous to barter. Mr.. Rag,inL may
nc mistaken in saying that cattle nre cuiticated in
Bucnos Ayres; think they arc caught wild for
the sake eff their hides. horns &c. Labor there
fore is not much concerned in the prosecution or
loss of this trade, but this does affect our ar
gument much We admit the case cited rs fair
illustration of the usual intercourse between COM
mercial nations, an exchange VI equivalents, and
take Mr. Raguet's estimates and positions Is
correct VIZ. 800. 900 hides exchanged BY Bucnos
Ayrcs for 1000 barrels of AR.ercan -four
The forracr we will value at s. cost, and 81 profit
of trade, freight &c, and the -four at So per bar
rel, and 50 do-bens 80 cen; on the cos. at the
place of export. We wish also to suppose ,each
country 90 possess moncyc1 capital Of say
million Of dollars each, provide for aay balance
of trade.
Now to make out clear case Of free trade, or
an exchange of equivalents, between these TWO
countries, 40 notice should be taken Of their in
tercoursc or trnffc with other countries. We wish
them to represent the whole commerce of the
world and et us try fairly and CONSIDERABLY the
bearings which the anti-pro;cctye, and the csun-
tervailing trse free trade policy viii haze in
fact, Invested of any intercntia or speculative
lars, thcy are designated in the theoretical po
litical economy. We will try for once to make
our learned friends OF this school stand to their
position, and not to fy of in tangent through
the vast res OBS OF fancy, where it would be as
hard to 70 low them. it would be one of Hers
eheE!- comets at the extremity of its aphelion
Free trade, then between the hour-expor
United States and the hde-producng country of
Buenos AyreS, Is commenced without any duty on
either side, and is assumed 10 be sufficiently bc:c-
fetal 10 both nations, although each could produce
the product of the other, TO maintain third into
rest which we call the cerrging trade, equally
participated in BY both
The traffic between them consists II the ex
change Of
10000 barrels Of hour from The IT, States,
valued al - per barrel. 100000
Expenses OF freight, interest, insurance,
and profits o: trade. ............... -SDC,C 300
10000 hides from Buenos Ayre=, al 81. sseeuO
E1peiseo &c as above...... 800, COO
with specie capital each county to regula. any BAL
nace OF trade equal to million o: dollars
This shall designate free trade, TO which no
ore can object Thus far agree.
Our author next assumes tina, Bueaos Ayres i'm
poses duty of 20 per cent on the American flour
Very well. This may be invidens, or matter of
necessity or internal policy. In either case it dis
turbs ths equilibrium of reciprocity aud should
be resisted. The United States levy counter
vaiiing duty the hides of an equal amount
Is the trade less free7 Do the relative prices or
equivalent returns vary in any respect7 Is either