Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1842-05-20


ee basis for SPECIE in the circuation beneficial
corrective, and checked for time the progress of the
evil OF over-production, in diminishing the relative
value OF property TO money and when the banks were
multiplied, and began to loan and issue their paper
freely, and without regard to their specie for
lts redemption and the circulation thus expanded
by paper money resting on no solid specie basis, the
market value of property and labor estimated by
its value in this bank paper and not in gold and sill
yer, and prices advanccd and men were tempted by
their imaginary wealth, and by the facility Of OBJ
tanning loans, to an extravogant and wasteul expen
dure and consumption, and spirit of wild speculation
6 peryaded the land The States, catching the pervadng
spirit, constructed railroads and canals upon credits
abroad and thus gave additional employ ment 10 labor
and the of greater consumption 10 the aborer;
and consumption still keeping pace with production,
the evil effects of production upon tie value Of
property and labor not perceived felt. But
no1c, that great portion of this spurious circulation
has been Withdrawn, and other portions deprecated
from its irredeenabe character and want of contt nee
in its convertbIlity into SPECIE property and labor
are again estimated by their value in specie, and /, g
markets OF consumption have been diminished, While
production is rapidly increasing, boil! at home ard
abroad
In Europe, the supernbundance Of labor both in ag
rcuure and manufactures has reduced its pt.ce, while
high taxation upon imports has prevented like reduc
ton IN the prices of food; and the day laborrr
and the operative forced TO work at wages so low
as to be barely sufficient to sustain life and fur
Their reduction of course be made. But as the
price of the manufactured article hes decreased as pro-
duciion has increased upon consumption and the PRICE
of labor there can be reduced lower reduction in
the price Of the material of actures the pro-
ducton Of which has also increased and kept pace with
the demand has become necessary TO the manuiac
urer from loss. This reduction of the material has
this country been especially felt in the article OF
cotton, which furnishes than one half of all do
mestic ports Had the price food with the
reduction in The price Of labor in Great Britain by the
admission offood from abroad under moderate duties
exchange for her manufactures, she might sill, have
tanned large portion of the market OF the world but,
unfortunately for the great mass of her population,
in her eagerness TO protect capitalists, whether in
nufacturing, agricultural, commercial employ, she
forgot The mere laborer without other capital than his
bone and sinew; and the consequence is, that she
presents mass of wealth uneGualled by any other
nation, in the midst of the most abect poverty and
want to which sixth Of her population subjected.
Her system Of high protection TO all her great inter-
ests is system OF high taxation, not only upon all
those great interests, but upon the labor Of poverty
Her agrculturis is taxed for the manufacturer; the
manufacturer, in tnrn for the agrculturis and both
are taxed for the ship interest; which, again. is taxed
for the benefit of both; and all her people, and all her
interests taxed to benefit her colonies; who are, in
turn, taxed for the benefit of the mother county,
Thus there is complete circle of tuxation the pro-
ceeds Of which, after paying To her numerous tax.ga
therers large amount by way Of compensation, flows
into The treasury Of the kingdom, to sustain her might
and her glory, to which the happiness and comfort Of
the effect of this system upon the large landhoders
and upon the day aborer in England we have only 10
turn to any newspaper of that country which finds its
way 10 this As instance nearest at hand we give
the following extract from an English paper, found in
the National Integencer of the 10Th inst:
at is said that, by the death Of the late Duke of
Cleveland his eldest succeeds TO fS0,000 year,
nearly 100000; Lord William Pawett has legacy
of f560O00, than 100000, and Lord Harvey
another of f440000, upwards of $2,00O000; there
is legacy of f200,000, nearly $l,0O0,O00, to
grandson; the Dowager has the Yorkshire estates the
house in London, and On immense amount of plate,
ewelry, and furniture A large portion Of the uncn-
tailed estates in Durham gnes to of his daughters
His grace said had fl $50 600, about S6000 900,
the 81 per cent consos, besides plate and ewelry
the value Of 81 100000, or $4,6U0,0O0.'
In the paper we find the death of the Marquis
of Hartford announced, with the remark that he died
worth f2000,O00, or upwards of S9,O00,0O0 Such
estates these may doubt, be found in every coun
ty in England, and some even much greater Now, VIC
do not mean TO say that these immense estates have
been altogether created by the high protection afford
ed TO the landed interest by the high duties foreign
grain and other products oil farming, but that much of
the accumulation has doubt been from that source,
the expense of the day laboer in the increase of the
cost Of his food
Now let US review the side Of the picture
We extract the following from the first paper at hand,
as recent report The stated are accompanied
by others of like character and are, doubt, true
presentations Of thousands and tens Of thousands in
England, Scotland, and Ireland:
"Let US peep into the report Of the poor law com.
missoners that we may the better understand this
doctrine, which the humanity of Great Britain is about
to engraft on the law of nations.
These commissioners visited the poor in their abodes
of wretchedness, and the following few Of the
| facts selected from their report:
zone witness says j am counted good laborer, and
when there is employment 10 be had, am seldom idle.
am idle for about three months in the
year, on average. In the beginning of the summer
idle for three weeks, one day after another.
had no provision. | sold every article in my house,
rather than let my wife OUT you may be sure we eat the
price of them very sparingly at last sold The pot
had to boil my potatoes, and walked out of the door
myself, my wife and SIX children. We went off where
were not known, and begged
| aAnother says Il would engage to work at home
every day in the year for eight pounds, without food
or support of any kind
"Another, in answer TO the question, do your family
generally use milk with their potatoes, says, milk,
Sir, | solemnly declare before my neighbors here,
that have been lying in my bed, having blister after
blister on me, and did Ioi drink quart OF milk but
eat potatoes and salt behring's, and had no drink bit
cold water. great many OF US would pray the Al
mighty to take Oft would De better Tor Imam 10
live in our poverty and need
Yet il has been said, on this floor, not once,
but often that Great Britain has been exalted TO her
present state Of wealth. and power, and happiness by
system Of high protection and her perseverance in
that system is held up to example worthy OF
/
of such effects upon her popula,on ought not to be
favored by Government established, as ours is to
protect and preserve the rights and happiness Of all,
without regard to ranks or sectional interests, and
whose desire for power and for glory ought 10 reach
no further than may be necessary TO accomplish tina:
main object.
But the statesmen Of England themselves are be.
ginning to admit the evils Of that system and now
endeayorng TO effect cure, far may be in their
power, reduction of the protective duties many
Of the necessaries of life and bill, by the last &C.
counts, was then pending before Parliament, intro
duced and supported by the ministry, 10 reduce some
of the duties which have been found most oppressive
on the laboring classes; and among others, on some
Of the very articles which included in the retaa.
tory clause Of the bill reported by The majority OF the
committee, and pending before this House.
But, admitting that the system Of high protection
maintained by Great Britain is not only necessary but
beneficial TO her people, which lave just seen is de-
MED by some of her leading staesmen and, as We BE-
eve, only sustained by those who are deeply interested
in sustaining t-that u.s. the great landhoders-is ,s