Independent Democrat. [volume] (Canton, Miss.) 1842-1844, 1843-11-18
.From "a JonrnaL 81 ComMercl
TIE DRAIN OF SPECIE.

The prtcctionists are SO fixed 10 their
sieroo}ypcd Heterogeneous. that ihog con
,nuo 10 insist upon a constant drdin Of spc-
Gle from he country by our frciEa trade.
The fct that our hreign t:ada h2s
brought into tho country almost all the
sEccic that we ever lave hl', AMI that
within tie last lNciyo months it has
brought in some t~enW millions o! d D.
|hls which oow lies tuid aud locked up
/ in lh9gaul- o. lie bnks, makes no djll =
cnco with tbcm. 'Itcy sill Coon roaj.cr-
;i;ng III 4 ioicign trade drains the com.
try Of specie. On the last evening Of The
fair, the president of The American lnst,
tute delivered an address Of an hourand a
half, in which he said zone third of our
foreign commerce was with England and
her colonies. The balances OF her trade
have been against US for many years past,
aud have varied in different years, from
FIVE millions even to sixty millions a year.
The iml ortaiions of her manufactures
have been received by US upon little more
than nominal duIies, while duties oppres-
sve prohibitory have been eXacted on our
produce exported to her. With France
our commerce has been equally diSas-
lrous. We have taken her wines. silks,
and gew-ga duty free, and swelling The
balances of trade against us to great
amount, to be paid in specie.'
All these la'schooas, ana many more
like them, were stated in the faces of an
intelligent American audience; ami So
gravely, thai, we dare say, many Of the
hearers supposed them truths. The news
papers have been heralding the price of
bills on England and France at two and
three per cent below the actual par, and
the arrival Of millions IN millions of coin
TO settle the enormous balances which our
foreign trade had created against those
countries; yet General Tallmadge has ne
yer heard of il. lie thinks acnrrent of
specie, mighty as The Cult stream, is set
ting out of this country toward, Europe;
and this is the man who sands in the very
centre of protecton-ihe sun of the sys-
tenn. How great is the darkness!
As to the COMPARISON between the
scale Of duties in the United States and
Great Britain, we will venture anything
that the duties paid 10 Eng nd upon the
total imports from The United States do
not amount 10 one quarter of the sum paid
on the proceeds of those imports when
brought back to this county; besides the
fact, that a great proportion ofour duties
are entirely prohibltnry. The average of
British duties is not one.fourlh as great
as the average of American duties. This
slmc enlightcner of the age, in the
course of his remarks, stated Of England,
that ''to cripple our whale fishery, her du-
ty imposed on American oil is CPS lbs.
per toni and the "Amerran whnIebjne
is subjected to a duty OF 500 per toni
The duty in Engl1nd on train oil, blub-
Der, &c, from the United States aud all
foreign fisheries, is f6 per ton; and on
spermaceti El5 per ton, and whaleblne
eco per ton. The oemtnd in England
/ it is which has carrie Up whale6ene TO
double its price six mouths ago, to the
aImostunprecedenicd Pricoot 90 cents a
hound. And the same market has conrl-
buted freely to carry up whale oil to It's
present extremely high picc Of 10 cents