Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1842-05-02

| 600 600 to which should be added the invest
ments necessary for the support OF those engaged
in the care of sheep, the clipping Of the wool, &c,
amounting to some millions more. The annual
product of wool may be estimated ut fifty millions
! OF pounds.
These large investments have been encouraged
by former legislation. The duty, by The act of
| 1928 was four cents pound, tnl fifty per cent.
! nd valorein and by the net OF 1892, the
specific duty, aud forty per cent. nd vnIorem---
| Surely this interest has just clnini to the cOnsid
| erution of Congress Wool Is Il raw material Of
vas, importance in national point of view. Since
| the experience Of the last war, when we found
| Ourselves dependent on the enemy for supplies of
| clothing, which were Obtained in a great measure
by Illicit commerce. aud furnished only Mt the most
| enormous prices il has been leading object in
| our national policy 10 render our country nde
peHdent Of foreign nations for articles of such in
dspensabe necessity. In the opinion Of the COM
| mtee, the policy which has encouraged these
| grcnt agricultural investments, and manufacturing
establishments in connexion with them, ought not
| to lie abandoned. They would he sacrificed 10y
simple AL valorem duty of thirty per cent. The
rates in the hill reported nre--un WOOL the value
of which shall exceed eight cents, four cents
pound, und % per cent. al valOrUm aud OH man
uinciurrs OF wool, 40 per cent al vHlOrem. In
their opinion, these interests could not be sustained
under lower rates OF duty They were not nble
10 report any substitute for mn nd vaIorem duly on
woolens, although they nre sensible that the mnn-
ufactnrrrs have suffered greatly by fraudulent ia
voices and underyalualions."
Present state Of The country causes
"All the great interests of the country are now
in All extremely depressed condition every branch
Of industry is parayzed How is it that, in time
OF profound pence, with country ahDnndng in
natural resources, with an nctive nnd enerprising
population, increasing without parallel in the his
tory OF the human race, md rolling on towards
the Western ocenn settling as rich lands ny the
sun shines upon, and when Providence has blessed
us with fruitful Seasons, with all the means and
facilities OF successful enterprise how is it thai,
blessed by Heaven beyond any other people that
ever existed, the voice of complaint should come
up from every part Of the land?
There arr several causes for the present depreS
sion OF property and general stagnalion of husi
ness one OF which will he admitted to lie the large
amount of our inportaiiUns over the amount Of
exports This depresses our home industry, and
draws from the country annually large balances in
specie, Gripping our banks, and deprving lhem OF
tho power 10 grant the nec ssary facilities. The
same causes produced The exhaustion OF our
sources aud The embarrassment which were the
principal cause OF the adoption Of TIC Constilu-
ton. As stated in the very uble petition from
Windsor county, Vermont, from 1888 to 1889
The trade OF the thirteen old States perfectly
free to the whole world. The result was that
Great Britain filled every section OF our country
with her manufactures of wool cotton, linen, eath-
err ron glass; nnd all other articles used here, and
in four years she swept from the country every
dollar and every piece of go!a, &c.
In the Inst terai of General Jackson adnins-
traon the imports exceeded the exports eurh year,
making an excess of Sl29,Gel 1917
The excess of imports during the three first
years of Mr. Yum Buren's administration was near
ly seventy millions. In 1910, for the first time for
ten years, there all excess Of exporis. In 1871
the imports exceeded the exports about three mill
ions"
arguments for protection
"a tariff OF duties which, while il will supply
the necessary revenue, will check excessive i'm
portaons, and proven, the flow Of specie abroad
for the payment of large balances, will do much
TO restore the prosperity of the nation. Revenue
is necessary ; il must be raised from duties on i'm
ports and, il these are wisely arranged, they will
encourage domestic industry, and Improve and
increase circulating medium so essential 10
the restoration of prosperity.
And why should we not rely more on ourselves
and on our own policy? Is there any hing in the
policy of other nations TO induce us to lead the
way in tree trade, Free trade Where shall we
| 90 TO find IN example for it? Al tho great ma
lions OF Europe are protecting their own industry,
| and encouraging their own manufacturers, TO an
! extent before unknown. France, Prussia, the
J German States and even RUSSIA, are making rap.
! i'll advances in manufactures, under system Of
| rigorous restrictions.
Until the European nations change Their policy,
| there can he no really free trade for the United
States. Should we only adopt this policy Tree
trade will be only one side, and thu moi on ours.
| We shall enjoy just so much commerce with them
| us they in their good pleasure may allow us. Shall
we look 10 England for our example OF lreG trade
England imposes prolblIory duties on all articles
she can raise or manufacture. This is her settled
policy. Should an Insufficient tnrf, with her vast
SURPRISES poured III upon us, break down oar es-
Establishments, and we again import our cotton,
,I ,l,ar i,.pttI mad oh,
would she receive in re:urn for thcm? With
what could we pay her 2 She will not take from
us our wheat aud corn, unless her population is
| in starving condition, BECAUSE they viii interfere
with her own agricultural interests. The products
! OF our fisheries aud our forests will find no aduis
sion there, because she must encourage her own
fisheries aud her coonial timber trade She will
luke few thousand hogshrals of tobacco hut
! charged with u duty and excise of ten times lis
original cost, and thus yielding twelfth part of
| her revenue for imports She will not take from
any article of the growth, produce, or manu-
acture of ;his country, except our Cotton, which
has become essential To her cotton manufactures
that branch of her industry which is now essen-
tial TO her national wealth and power-and she is
siranng every nerve TO become independent of
! foreign nations for this.
departure from thai policy under which du.
ties Oh imports have been arranged as To en- =
courage domestic industry, il is feared, would be
most disastrous. Foreign nations would food
This country with their productions, aud destroy
our manufactures, by depriving hem of the home
! market The operation OF it would he like that
OF our reciprocal tsaiies, as they called, under
| which we have lost great part OF the carrying
trade of our own produce. We have lniely no.
ticed the startling fact, that tour fiths of all the
tonnage entering one of our Southern ports is for
eign. Wenre now suffering an inundatlon Of for
! eign goods arising from the over stocks and the
reduced rate of labor in Europe. This we may
always he subject TO, Al times, under any tariff
which may lie passed but The lower the duties,
the more frequently it will occur"
! Objections anSDered.
Ii is hardly necessary TO remark that aislng The
duty an article does not necessarily raise The
cost of il 10 the consumer in AN equal degree. IL
has been said that duties articles not produced