Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1842-04-15

great and striking result not, be assured, accidental
1t comes from fixed laws, which only require to be
known, and to be acted on, give unbounded prosper
y 10 the country But had almost forgotten to ask,
how can this increase of lo4l compared with that
oil lc40 be reconcled with the supposed unproductive
condition Of the manufacture of cotton the latter
year: Have New gland brethren forgotten their
sagacity and prudence, and gone on rapidly extending
their operations, in spite of decaylng businesss
But have not yet exhausted the proof of the great
and beneficial effects resulting from the reduction Of
the duties. 1t has been alleged, as conclusive OBJ.
lection against the reduction of duties. that it would
nundate the country with imports OF foreign poduc-
on the belief OF winch has spread great alarm among
the manufacturing interest Of the country. admit
tiat lie udlcous and sudden reduction at the be-
ginning Of this year, and which is 10 take place on
'le 30th June next, may, TO considerable extent,
have the temporary effect apprehended. was opposed
TO throwing great a reduction on the termination of
the series of years Of reduction fixed by the Compro
mse and that for the reason that would have that eff
feet. Had the reduction been equally distributed
the whole PERIOD as proposed, or had the offer made
at the extraordinary session been accepted OF bringing
down the duties above ~ per cent the protected
tIc!es gradually, and raising those the free the
way, the evil would have been wholly avoided
but other counsel prevailed. The mischief is DONE
and must be endured Ii is, however some consolation
TO think it will be but temporary. Low duties and
sound currency viii prove the most elective preventive
to importation, and the alarm, in the end, will
prove unfounded. That reduction of duties has not
been followed by the evil apprehended have strong
proof i'm the fact that IT has been the case under
the regular and gradual reduction provided by the
Compromise, quite down to the last great reduction
In leJ the importation OF cotton goods, OF all descrp
TONS amounted in valne to $l3,9l3,393 aud in lciOt
but Asa; making reduction IN one year, under
the increasing reduction OF duties OF 4Dc 500; mere
than equal to the whole amount OF the importation of
the year; and yet with all these decisive proofs OF their
great and growing prosperity, the cotton and other ma
nntacturns interests are pouring ~ petitions day alter
day by thousands crying ont Tor rebel, and asking for
high and oppressive duties almost every article OF
consumption, for their benefit, the expense Of the
rest of the community, and that, too, when the great
staple exporting interest," II We are 10 believe the mem.
bers representing these petitioners on this floor, at
the same time in the most depressed and embarrassed
condition.
But it is attempted TO explain these striking proofs
Of prosperity, which cannot be Denied by stating that
they occurred under high protective duties as only
four,enhs of the duties above 90 per cent protect
ed articles had been taken off prior 10 the ls January
last, and that what renamed was ample for projections;
and that II is 10 that, not the reduction OF the duties,
that this great increase of the manufacture of cotton is
to be attributed In reply, ask IT ec;ion and not
reduction of duties be in fact the cause, how TO be-
explained that little progress made by the cot.
manufactures durng The high protective duties OF
the tariffs Of 1894 and 90; And how, that the progress
has been and more rapid just in proportion as the
duties have been reduced, under the compromise, as
the vast increase Of the importation OF the raw maeral
into the port of Boston clearly indicates: These facts
prove beyond controversy, that the great increase IN
question did not depend on The protective policy, but
the reverse the reduction Of duties, and may be fairly
attributed To the effect which The repeal and the rednc
ton Of duties under that act has had .he0ping the
cast Of production at hoc, and cpiargng The market
for The production Of iajor atroadJy rcmor,ag so
many and such opprcssce burdens from our foreign e.
changes.
Having now shown the relative effects of protection
and reduction Of duties the export trade generally,
and on The tonnage foreign and coasting and the
nufactnre and consumption Of cotton, shall now pro-
coed 10 their comparative fleets on the three
great agricultural staples cotton rice and tobacco, all
of which the produc: OF that portion OF the Union
which the Senator and his friends would persuade
ns has suffered much from the reduction Of the
dnies. ] shall begin with ls2o aud conclude with
1910, making tweny-one years, which shall divide
into three equal periods Of years cach the first
TO extend TO 1896 inclusive the second to 1884 nclu
sive and the last 10 1871. The first viii conclude with
the period which fairly represents Tie ELECTS ot tie
high duties under the act Of 1916, with or two sup
Elemental passed al the close OF the late war; the
second, that under the protective tariffs al lc2l and
lc23, and the last that under the compromise reduc-
ton of duties | have commenced the periods Of pro-
lection and reduction n little later period than III
making out the table of exports generally, because the
agricultural staples sold and shipped in the fiscal
year subsequent to their production, aud not mate
rally affected by change Of duty TIL the succeeding
year it has also the advantage OF being dyisihe INTO
three equal parts, nearly conclding with those marked
and dissmnr periods Of legislation, in reference to the
duties on imports The disturbing effects OF tie late
war on the commerce OF the country, had in n great
measure ceased at the date of the commencement Of
the first period. With these explanatory remarks,
shall begin with cotton, the leading article, and shall
draw my facts from official Documents unless other
wise stated.
Table marked contains statement Of the value of
the exports of cotton for each year during this long
PERIOD divided already stated into periods OF
years; by reference to which, it will be that Tie
aggregate value Of the exports for the FIRST period OF
seven wears, from 10 To 20 inclusive l70,1G5,
9Q3 That period OF severe contraction ot tie
currency, following the great expansion in conse-
quence of the universal suspension of all the banks
South Of New England, from 1913 to lcl7, and was
marked by great commercial and pecuniary cmbarIass-
ment.
The aggregate exports in value for the next period Of
seven years from the termination Of the first 10 33 in
elusive, $50! ,302 2i7(see same table, period
throughout o.! high protective duties, without recxa
ton, excepting the two las! years, when The duties on
coffee lea and sonc other articles greatly reduced,
and which, viii be ~ reference to the table,
lad very sensible effect il increasing the exports Of
those years. The increase OF the exports in the whole
Of this period compared with the former, was but
S5 ,13G2II, about per cent being rate per cent.
compared 10 the increase OF population, Of about lib
only Bot even this Inconsiderabe increase, in rc.
riod marked by extraordinary vicssItudcs embar
rassment IN the commerce currency of the country,
one OF severe contraction and embarfassment &C.
Cured principally during The last two years oi the Sc
RES after the reduction OF the duties already alluded TO,
and TO which it may be fairly attributed.
The aggregate increase Tor III. last period &c seven
years, from 80, the year of the Compromise, TO A.
$433 800, c30(see same table, fcr'cd throughout of
reduction, making increase Of SOB, 93S 5c3, eqntl
to about ID per cent. compared to the aggregate valGe
of The period Of high Protective Tariff aud four times
greater than the average increase Of population for
The period, and this for lrgap portion of the time
of unexampled Gercrgemcn, OF the currency, and Pc
cuniary and commercial embarrassment.
shall now pass 10 the next mast important OF our
great agricultural siapss, tobacco, referring for de-
tailed view to table marked l., and PLANTATION as TO
each period, The remarks made il reference to cotton.
The aggregate export n valre OF tobacco for Tho
first period was :i 30 and Of the second, $780,
as3'7o, being actual falling oil under the high.
increased protective duties Of The acts OF "a and ~,
compared 10 the lo~cr, bat still high duties of the for
mer period, Of So $50 and that, too, The absence
Of all adverse causes. except the high oppressive dn-