The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1843-03-12

or bounty. we have increased the cost Of their yes
ses oy duties on the iron, duck and cordage used in
them and on the salt consumed, all much higher
than those originally imposed, and on which the
bounty originally was computed Thisls specimen
OF the Kindness shown by the late tariff 10 those de-
pressed interests OF navigation and the fisheries,
whose great motto as well as glory and encourage
ment have been heretOore-free trade and sailors
rights Indeed by this policy we have imposed
new tax on the very tools of their occupation. We
thus overpurthen the means by which they earn
their daily bread The few articles left free are also
left so, not with view to aid commerce usually but
manufacturers, by letting in without any duty their
| raw materials and some other articles which not
produced here, but consumed by them in common
with others. On the contrary, ship building and
navigation In all their varieties and ramificatiOns
are highly burthened. not only by the increased
duties on most OF the articles used in building but
on most of those eaten and worn by the mechanics
and seamen employed. Indeed the greatest neces-
sares OF life, by this system of legislation, are the
favorlte objects OF taxation, while many Injuries
are free or at low duty andthe very highest duties
in the last tariff instead of falling on the Wines the
silks and aces of the rich, fasten themselves like
harpes on the TOOLS food and clothing of the poorer
classes The unfavorabe bearing of this tariff on our
tonnage, whether domestic or foreign, will be
manifest from two or three other considerations If
the increased duties the articles equal near five
dollars ton yeary-as Is the computation, then all
vessels in the foreign trade are virtually taxed
by the tariff at that rae-more than the vessels
OF other nations engaged in the same trade and who
have not at the same time raised their tariffs. How
| can ours then compete so we'll as before! and how
oppressive Is this tax equallng near ten millions
placed on our own, but not on foreign tonnage!
Our domestic navigation feels 1t the least although
new burthen to the same extent is placed that;
yet that is not obliged to compete with foreign yes
sells, and hence raise the price of freight and get
| some. indemnity, unfortunately however, from our
| own citizens. But if our tonnage in the foreign
trade attempts this kind of relief the foreign vessels
af ondtp tn IL o,l4 ADvl
| It, and the American vessels thus remain unem-
ployed-or carry freight at runonsy low rates, in
consequence OF so gross violation free trade prln
cipes towards them Still other pretences for these
distinctions legislation have at times been
thrust forward, beside protection to manufactures,
but they are equally untenable. Of this character
are disseminating laws made with view to change
the balance OF foreign trade, so to keep more mo-
ney in country secure from expectation, so to in
errupt and lessen the intercourse with those partic-
ular nations, who take least directly of our own pro-
duce so to alter the rates of toreignexchange which
are liked from time TO time by the great laws of
trade surely the ebb and flow of the tides are
fixed by the great laws of nature. These are all
litter OF the same impotent character, from the
attempt to regulate, by law, the quantity of
hay TO be grown per acre by the farmer Equally
futile is also, the oficious, ntermeddling legisa-
ton, hatseeks to fix by law what shall be the only
currency or only circulating medium of commerce
or OF the people at large Governments may properly
fix just standards ofvalue, and prescribe the kind Of
receipts 1t prefers for its own dues and may
manufacture such circulation as it deems useful
But trade regards everything matter of exchange
OF value against value. Its prices cannot be affect
ed by arbitrary legislation. Laws may fix the stan
dard for adjustment and enforcement Of its contracts
but the exchanges OF trade are IN themselves be-
yond any sautary control except the agreements of
parties. Any attempt at interference by positive le'
glslation IN those operations, which must be govern
ed by the instinct OF individual interest have always
proved positively injurious by either Stacking trans
tons or by promoting fraud The attempt, few
years ago, to dispense with the sound constitutional
standard of value, both in government business
and private contracts, well as in exchanges,
was fortunately resisted with success. The
nviolabity Of contracts-ihe public faith and the
financial credit of the general government, were thus
preserved amidst pressure unexampled in its pow
er, and with advantages to the eventual soundness
and stability OF the currency which all parts Of the
country deem now necessary, and which we other
wise were not likely to have realised for quarter
of century One of the strongest proofs of this is
that the rates of exchange foreign and domestic have
never,f quarter Of century past, been lower be-
tween all important places than at the present mo-
ment 1t accords with the experience of all ages that
governments not SO wise in regulating either the
trade the industry, pursuits and habits of the peo
pie at large, private individuals are, left them
selves Both the interest and skill of governments
In those less-nOr can they act judge well
either as to production, exchanges prices. To
guate the last by law has for some time been expo-
ded as relic of despotc folly though popu
lar it is with classes OF politicians TO re-
guate the others. Ifunmolested people will general
ly buy where they getthe same article cheapest
and sell where they can get most and this instinct
OF trade-this impulse of self interest, net only lies
at the bottom OF all free commerce and ustfes as
well:as prompts it but aids national wealth much
as it does individual profit. The more each thus
gains, the more the whole thus gain; and if free
dom is interrupted so that you cannot buy where
cheapest, ii is usually pushed that you cannot sell
where you are able to get most; and hence much is
lost both ways beside Interruptions and delays. The
free trade doctrine would enable to profit as much
huVlnQ nhPapPr UnnIlSU a Irop
abroad las by selling higher there gran tobacco,
cotton and pork, and even some Of our manufac-
tured goods Nor is this kind of business, thus
Quoted, overreaching or dlsadvantageous TO either
pary but il is system Of mutual benefits, as the ex-
change consists often of surplusses, which would
otherwise not be produced, orif Produced would be
England ard paid for by our exports are likewise
the fruits OF American labor, as much as if bought
in the United States. So it matters not whether
the articles are bought in exchange for others,
with money procured by the sale of others In either
case, they the fruts-the legitimate fruits of
American industry. In either case, alse, if more is
obtained abroad for our exports than could be had
at home, or if the articles of import we need
bought 'abroad for less price than like articles
would cost al home, the sale and the purchase
abroad are both economical as well as advantageous
to our country and the rest Of the world Nor is
such course OF business unfavourable to the indie
pendence, peace and prosperity of nations. On the
contrary, it removes the temptation TO aggressions
and war by opening access to all, quietly to the
tual products and excelencies of each II also fur
nishes necessaries and comforts to each from the
rest, which hosttes would endanger, if not
destroy and thus makes the free interchange of
them pledge and bond of peace. Igo as far as the
farthest for national independence. But plausible,
and indeed the most plausible argument for the
strictive SYSTEM is, that it promotes independence
but it overlooks and confounds the distinction be-
tween political independence so very desirable, and
that independence of all others in society not so de-
sirabe-which can exist in perfection only with the
| hermit or the savage Enlightened, cvsed, social
man should not seek to initiate the solitary oyster in
his mud, or the grub in his vegetable blanket-both
forts and happiness from all around him, and derive
from society the mutual benefits for which society
was made and each nation, belonging in a like
manner 10 the great family of nations, should inter-
minse the advantages of each for the good OF the
whole. Another prominent view OF the high dscrl-
MIN the TART IN he I'M, md