Staunton spectator, and general advertiser. [volume] (Staunton, Va.) 183?-1849, 1843-05-04
rrom tho Cincinnati Chronicle.
TIE TARIFF AND IT'S coNsEQ UENcEs


OF several measures proposed by the Wing |
Statesmen, as means OF restoring and render
ing permanent the Commercial prosperity of
the country, but one has been accomplished.
The others they would have carried into ei-
feet, if they could. That they could not,
the reason why, is known to all men OF all
parties. The measure which has been prac
tically carried out, has in a most signal man.
ner proved the wisdom and fulfilled the ex-
pccta,ions Of its friends. They could have no
better evidence, in SO short period, :hat their
scheme of policy was wise, and had it been
adopted throughout, would have restored the
country TO commercial vigor and renewed
health.
The measure realized is the Tariff, and to
test it, look back upon the events of but two
years. Ico facts before the Tariff, and i,co
effects derived from it, will test that measure.
/ FIRST FAcT.-ln the autumn Of 1871, and
the winter of lS41-2, the balance of trade
was very greatly against this country, and the
Custom House returns showed an enormous
expectation of specie from this country. Ex-
change on England was very high, and there
seemed no way Of restoring that balance, or
of acquiring the advantage which our surplus
crops ought to afford.
SECOND FAcT.-At the same time, and pro-
ceedlng from the same causes, "a low Tariff
anAeXccssve importation of foreign goods,
S many of the manufacturing establishments OF
New England diminished the quantity of their
work and in the Spring of 1912, large bodies
OF workmen were thrown out of employment,
, and many manufactures in Pennsylvania, New
Jersey, New York, and New England, had
e stopped altogether Three-fourths of all the
: extensive manufactures of wool, iron, and pa
n per, were threatened with absolute rum
tba xrho no
b troversy was at its height; and the Wings said
and we said, that good Tariff would produce
II these effects. 1t would restore the balance o
/ aade; and as consequence of that, woult
e first restore the manufactures and workmen t.
q, their business, and would next bring the i'm
81 portation of specie as basis of renewed cred
II it, and foundation for National Currency
N The Tariff Act was passed, and it has fulfilled
Y, the anlicipations of its friends to Tie uery let
y ter. This Gulfllment is found in the two con
sequences TO which we referred.
i FIRST CoNsEouENCE.--ln less than three
l. months from the passage of the last Tariff
Al Law, the manufactures i'll Philadelphia, New
ST Jersey, New York, and various other places
II which had been stopped, went into active OF
o Grafton, and thousands of workmen out of en-
/ ployment, and hundreds of thousands who
st would have been thrown out of their occu
T. astrous consequences of ruined manufactures
II SECOND CoNsEoUENcE.-The year lS4:
! finds the balance of trade decidedly in favor o
$. this country, and as was anticipated, million:
OF specie returning to this country, and some
prospect that the produce of the country viii
realize something more than silks and satins
:. brandy or wine. Even the Loco Foco pres,
is obliged to bear testimony to the fact, that the
q balance of trade is in our favor, and specie il
q rapidly coming into the country.
q With the restored prosperity of the manu-
- f--..-I~- ~~--. &c .--I~ L--.- L =
If pened, showing new sources of wealth.
J. Boston mercantile house is said to have sol,
e in one parcel, domestic goods 10 the amour
e OF three hundred and fifty thousand dollars
/ for the trade with China. American manu-
|. lacures will soon be able to compete in for
q elgn markets with those of any country.
70 Thus has the Tariff fulfilled the hopes an,
Il objects of its friends. The only measure til,
y Wings carried is now the only good one in tn,
n country.