Independent Democrat. [volume] (Canton, Miss.) 1842-1844, 1843-08-19

acre politicians look with horror at the ex-
travagancies of commerce, uhcre so much
imported and so little erportcd-so much
bought and so little sold. These views
and reasonings of ignorance" he ccniip.
ues, "are extremely and lamentably com.
mon among persons whose duty it is to
know better, and even among some in
these United States, who affect to write
of commerce and public economy"
This entire delusion, indeed, arises
from the superficial knowledge of men
who call themselves statesmen; but are, in
fact, mere speech makers, and who iguor.
anily look to custom house entries as the
criteyia of trade between two nations
Whereas, nothing can be more delusiye,
since, in prosperous state Of trade, be-
tween two nations which makes exchan-
ges favorable to the one, or the other, the
largest balances as neither paid for by
goods exported, nor by coin; but by bills
of exchange remitted-whch are based
upon the profits of other adventures, and,
of which, no entry whatever appears in
the custom house.
The manifest stupidity and ignorance
that prevails on his subject with the press
engaged in proPping up the tariff question
by every falacy that can be palmed of for
sound argument upon the people, may be
estimated by reference 10 the same ar.
tc!e in the Indiana State Journal from
which we have quoted; where these Gus.
tom house entries are cited to show the
awful condition Of the country on account
Of the difference between the imports and
exports! This paper is edited by for.
mer member Of congress!
3. Again; it is notorious fact that the
only two nations in Europe who have had
most steadily this favorable balance Of
trade to boast of for near century past,
are Spain and Portugal. Yet, of all 9th
ers, they have declined in prosperity with
the greaest rapidly. This has been the
necessary result of a losing commerce.
which sent out more than it brought. back
in other words, which exported more
than it imported.
4. Doubtless it often happens, that inn
provident imporiations are made, which
are not and cannot be paid for; but this
proves nothing bu, the imprudence of the
purchaser: and, moreover, it is to be re.
marked, that in every case where mer.
chant exports cargo, and gets in return
another, which turns ont to be Of less va
uc-by which he makes loss equal TO
the difference, according to the theory Of
the Restrictionist, the b,lance of trade
would be in his favor; for clearly, in eve-
ny such case, he his exported more value
than he imported, which these gentry tell
US is the true policy ola nation. Accord
ing, then, to this stupendous absurdity, if
the whole nation were engaged in this sort
Of business, it would be an indication of
advancing prosperity!
What contemplate and stupid class Of
men frequently attempt to instruct and
rule mankind, and what mischief their ig-
norance may produce, may be estimated
by rejecting that such wretched trash has
been palmed upon the public for centuries
and is still, in these United States, put up
on us for wisdom and craftsmanship. -
"What," says Mr.. Say, ''are we 10 think
OF French minister in 1923, who makes
the total exports TO hare been 3S3 millions
of francs, and the total imports, inclusire
of specie. bat $50 millions; statement
("Balance Of Trade'0 upon which he &C.
tually fclicitates the ration, as the most
favorable that had eper been presented.-l
Whereas, this balance shows on the contra
ry, what epery body felt and knew at the
time-ihat the commerce of France was
then making immense losses, in conse-
quenc of the blunders OF her administra-
ton, and their total igorance of the first
principles ofpublic economy" In 1924,
MIR. Henry Clay expressed his earnest
hope that he should live to see the United
Stltcs in the same condition !!
Since the awful castigation he received
on that location at the hands OF Mr.. Web
ster for those unlucky exhibitions oil
'tragedy in commercial AFFAIRS" Mr..
Clay, as far as | remember, has never
ventured to repeat the words "balance of
trade"
.But gold and Silrer; ire oughtto keep
as much as possible Of 1t at home-they
are uealth pre- eminently, because they pilI
purchase every article in Dhich pealth
consists" 80 they will" (says the wri-
ter first quoted) sand when they have done
that duty, they will be sent abroad on the
same GRAND, till not more Of them remain,
than what may be necessary to supply the
permanent demand for them at hone.-I
They will, like every other commodity,
be cheap when they abound, and dear
when they are scarce" Suppose the de-
mands of commerce in a country require
currency equal TO fifty millions Of dollars,
to carry it on with facility, and that sum
wound sumce, is it not evident, you in
creas the quantity, by any means to dou.
BILE or TRIBE the amount needed, you low
er the value of it2' Do we not see every