Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1842-12-08

producnvc bcnciciaI conscqucncts,
exclusively the manufacturers, but TO all the consuming
classes, particularly the agricultural The uniform history
OF the American Tariff will develop this rcsu-that where
adequate protection has been given for succession OF
years price of the manufactured article has been
erially reduced. Cotton fabrics, which, in 1916 when
there protective Tariff, cost b cents per yard can
be bought for T. Before the Tariff policy commenced,
nails sold IL per pound duty of cents
pound imposed, and under the operation of this
lection, the article instead of being enhanced in price,
by the imposition OF the duty be had at IL cents:
less, actually than the protecting duty. Hammers, which,
in 1916 cost IL shilngs Dozen cell for four sh
hngs and pence. Broadclohs which then sold for 20
shngs per yard, purchased in 1882 for IS 3D. and
OF variety OF articles consumed by all classes OF the
community. This reduction of price, under the operation
of the protective duty easily explained. The protective
duty induces large investments in the manufacture OF the
protected articles competition springs among the
home manufacturers OF the article, and then double
petition taking place between the domestic and foreign ma
the price of the article produced is brought
down TO the lowest which be made with profit.
Hence Is that cut nails which adequately protected,
and brought down by the competitor between the American
and European manufacturers to the lowest possible price Tor
which they can be offered, while wrought nails which
little manufactured IN this country retain their original price
nearly owing the opposite fact that there domestic
competition in the manufacture of the article, and the TO-
reign manufacturer having the monopoly in the supply of
tins article, sells at his own price. IT, then, the effect OF
protection has been reduce prices, all the consum
ing classes have been benefited by its operaton.-
But upon interest its operation genial upon the
Agricultural Surely it the interest OF the farmer buy
his cotton al per yard instead of %, and his nails
at IL instead of I, and cloths shlngs instead OF 90
Inc chief benefit, however derived by the farmer is the
large home market provided for his productions There
engaged in manufactures the United States 100000
persons, besides their still descendants
How these numbers fed but by the products OF the
soil Again There S267 900 900 invested in
featuring establishments Who, but the farmer furnishes
the material for the consumption of these establish
mentsl And where is the immense Agricultural surplus
of our country TO find sale, unless absorbed consderI
bic degree by the domestic MARKET We are excluded
from the markets OF Europe by the selfish antree trade
policy OF European nations cotton and it is the
tp,r
home for his surplus and this he has in proportion
uiactres progress. The value this market may be Judged
from the fact that in the city OF Boston alone there
imported, IN leil 1OOOOOO bushels OF and 100000
barrels OF -four and into all Massachusetts - 100000 dol
lars worth OF productions OF the soil which there would
have been little demand but for the withdrawal of large
numbers from agriculture, and subsequent engagement in
manufactures To make this reasoning apparent let
us suppose the home market off and the 300 bales
of cotton consumed in the northern manufacturing
establishments the IL millions worth of agricultural pro-
ducts imported from the producing States into Massachu.
the additional millions taken in other parts New
England longer finding sale in that marke-what would
be the consequence, but glu of agricultural productions
and consequent reduction of price and injury to the farming
Interest And does 1t not behoove the Southern States
prepare for that period, which is fast approaching when
Great Britain their great cotton customer will longer
want American cotton for the supply OF her manufacturers
Prominently shrewd and selfish that has made it
her uniom policy 10 sell all she Others and buy
little possible from them In pursuance of this selfish
policy, she excluded American indigo from her markets.
the inst moment she found could be grown in her East
she compelled but the hour shall be asce1ned that this
important element OF her manufactures made in India
witnesses the exclusion OF the Southern staple from her
ports nat the climate and soil of India fitted the
growth of cotton, be considered already and success
fully tested That the cultivation of there will be pushed
t. the extent Of supplying the workshops of Great Britain
cannot be dlsbeleved by who familiar with the
course and scope OF British ontepze-and when this point
shall have been reached, what be the condition of the
Southern cotton planters it will be such have them
cry aloud Tor protective tariff but il wisdom 10
anticipate the event which be fatal to their interest
and by gradual and moderate, but uniform protection of
domestic manufactures be prepared for and thus break the
force OF the coming evil Surely is Indeed in no point
OF view Is protection to be regarded nimcal the farm
ing interest.
T. Resolred, That protest yet against the IN
Juce OF holding the Wing party responsible for the ex
taordinary pressure affecting the land That pres
sure Is almost exclusively the effect of ruinous deranpe
ment OF the currency and for this indebted TO the
party which, by the destruction of the Bank of the ~ :
removed all check the State banks largely increased
heir number and by these excessively augmented
bank issues and circulation. This produced
nate speculation and ultimate reaction; reaction brought
curtallment and curtament that grevous eva stnted
and deficient circulaonundsr which the people now
writing In very agony The Wing party Congress step
ped forward 10 apply tho corrective but they render
ed poweress for relief by the hndance of the Executive
veto Inc great measure of the Extra Session which was
designed as tho foundation OF the public relief by the set
uenen of the currency question: twice defeated by
the arbitrary will OF President Tyler Other measures of
kindred import met the fate. Besides, the
which have led the present deplorabe condition of the
country date back eight anterior the of
the Wing party. They had their origin in the first act of
war upon the currency the removal of TIA deposes and
they have been operating slowly but surely since I'M
they worked out the catastrophe just the threshold Of
Wing Administration. The happening of th. catastro
phe IN other words, the of the evil lust
about the time OF the accession of the Wings causes many
we doubt not 10 hold that parry accountable is gross
injustice, insomuch 1t j. only innocent Of the causes
that produced the unhappy condition of things but
raised ITS voice of warning and remembrance against the
measures OF which future and ruin have 30
6ounuully come. To aggravate the mischief the State
Legislatures, instead Of easing off the banks by leaving
hem TO the alternating operation Of time and Of the new
Tariff (Which by reducing tie foreign balance Of trade and
preserving 10 the bnnks their specie basis would have ora
dualy gwen eei ruled them, without regard 10 circ
Stances 10 general resumption Of specie payments the I'M
avoidabe result Of which has been extraordinary curni
neni, contraction OF the currency below the absolute
wants OF the community, general sainng and heavuq
IN every branch OF Industry fall Of prices sacrifice of pro-
perry, and bankruptcy and ruin Of the debtor portion Of
society," BE II borne IN mind, too that the healing of the
wounds Of the currency thing Of time a we'll M of
skill, and hence that even had the Wing partv been in
unrescicd sway from the lt March, 1871 10 the present
hour, tie time would have been short have accom-
pished much What could be done was done however: /
measures which, similar circumstances had cured the dis
eases OF the currency and administered relief the people
were proposed and adopted by the Wings in Congress but
defeated IN the already Indicated Hence we mr.
que, that the Wing party is by responsible for the
distress and desolaon which peyadc and blight the coun
trynO more answerable than the Continental Congress
for the treason OF Arnold.
10 Res0red, That the charge which is every dav re-
peaed against the Wing party Congress- Of not having
redeemed it, pledges OF Economy and Retrcnchncnt comes
with exceeding bad grace from Loco Foco opponent4
That party, which augmented expenditures from thirteen t
near forty millions year, and spent IN years 90 millions
more than MI Adams did IN the length Of time can
with no consistency or prOpney read lectures economy
to others Let them "irst the beam from their own
eyes before they out the mote from their brothers
II fu frtfn the eln IL