The Middlebury people's press. [volume] (Middlebury, Vt.) 1841-1843, 1843-05-03

But the question may be asked, how does
IT happen that the price of Buenos Ayres
wool is now so low2
1t is quoted in the Boston market at from
7 TO 10 cents. The answer is, that what
remains for sale is probably of the poorer
oualities-was purchased during the block.
ade, at low prices, and was imported free Of
duty, and is sold ithout profit, if not al
loss. The same general causes which have
depressed the price of our own wool, have
affected the price of all foreign wool in our
market. These general causes may afford
the subject of another letter."
We shcll however ourselves endeavour
to unfold the causes al which Mr.. E. has
limited. The first is the general depression of
prices throughout The world. The second
the especial depression of woods and wool
lens in our country occasioned by our sink
ing tariff the consequences of which have
been immense importation offorcign goods
for three yours past, which has resulted in
the humiliation of one half of our manufact-
uring establishments, and an immense sur.
charge in our market of the raw material
from our own farms yet remaining uncon.
sumed in The country. Within three years
past our own wool has fallen one half in
price. Foreign wools which in ls4l were
imported to vastly unusual amount have
unavoidably experienced the same fate.
Thus it is that prices have experienced
remarkable depression, aud that the whole
country is involved in distress, bankruptcy
and ruin. With the present. tariff in full
operation under faithful execution could
we be placed back TO the year 1889, even
with the currency deranged as it is by the
policy of the destructives, we ;haye not a
doubt, the nation would have been sustained
in comparatively high degree of prosper
lty. Whatever hope of better times remains
10 US Is from the salutary operation of that
same tariff which locofocoism al the mex,
session of congress menaces with desiruc
ton, and which'the democratic John TYLER
will not execute.
But we are fully sensible our arguments
will have little weight with our over jealous
correspondent. He has found out or
10 millions Of coarse wool 10 ono remark
able year was imported into the country,
nearly all of which'is probably absorbed by
carpet and negro cloth manufacturing, and
so completely has this one idea lakea pos
session Of him, that he has come to regard
Buenos Ayres wool as q sort of Pandoras
box from whence have issued all the evils
which have afflicted the country. He makes
us think of the man in the groom spectacles,
who pronounced every thing green because
they appeared so to him. Let the instru.
ment which so deludes his vision be dis.
mounted, and he will soon discover, that in
taking so much pains to be wise, he will
find himself suddenly embarked upon a sea,
which sager men Than either ofus have found
too deep TO fathom, and too immense 10 ex-
plore.
But friend Jewett We will suppose that
the wings had not succeeded as well as they
have, in the present tariff, and the loco foco
policy of free trade, and horizontal duties
of!2O per cent had prevailed against it,
would not this be more deIestable humbug
upon the public, than that of which you com.
plain : And have not your party for years
heen endeavoring to mock the people on,
of any substantial protection, by rsviling
manufacturers and mechanics, crying down
high pressure tariff and protection for pro-
tections sake, and when at last the people
of Vermont have forced you to come out
for wool, instead of aiding the. object, spend
ing al! your force in finding fault with Ia
riff whose alleged defects are wholly altrib-
utable 10 your determined hostility to every
attempt to improve it. The entire history
Of the passage of the tariff shows this to
have been the fact. Next congress your
party will have the power to show their at
tachment 10 this great agricultural interest |
ofthe country, and happy shall we be, if in
stead of improving the tariff, they do not
wipe out every essential feature of protec-
ton from the law.