Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1844-10-15
n-,,,>,o,r Etr he En2pirer.
DEMOCRATIC ASSOCIATION or RICH

AjO.ND.
Etc'a9se ltd, Fiday Night Olk II. ls4l.
The Glowing Report was submitted by Mr.
7. '. Daniel, r., on nc par %. tie Comiait;ce.
accepted and ordered 10 he published;
REPORT.
I Your Committee appointed on the 2lst day OF
september, to lake into cons Iteration the effect OF
/ duties on the price OF manufactured articles, AID
! estimate The value VI the homo market Tor agIl-
| cultural productions, which hts been clealcd by
/ legislative attachments beg Leave respectfully 10
submit the following Report and Resolutions:
!. EFFECT OF THE PRESENT TARIFF
ON PRICES.
On The first branch Of the subject Submitted 10
lis consideration, yoar Committee would state rs
lis lrn belief, llIat As a general principle, the i'm.
position ri duties Increases nc price 81! projected
aIiclc.:a general rule, which like all others, may
! not he universally true, especially when inc0ns-
dciSh!e PERIODS oi tive are examined; bu; which.
taken through length Of time, your committee
consider liable 10 as lcw obIecroEs or admitting
Is cw exceptions, ;.nv t. he found in the whole
raL.c ot moral science. Your Committee is
aware Of the lac admitted hy all, tia. the accu-
mutation % capital, the increase Of population,
! ana The many Iator-,aving machines. which a.e
invented IS society advances. Mu,l reduce the
cost q manufactured Articles; and this Tact HIS
been aGrol,|y used iG strengthen principles Of
public policy whose whole tendency is 10 cogn-
"racl Inc eject produced NJ he progress OF >ocic-
t.. When loa. pcfiois ol time arr examined il
will almost universally le found, that manuiac-
tnrcG protuct- hay. decreased III picc: hut rcvcr.
Tor any considerable time, have tacy been
a. cheap under i!e operation ol protective duties,
as they would have been, l.aJ 10 schedules been
imposed.
The Improvements liz machinery. the compcti-
ton III labor seeking employment and ol CAPITAL
seeking investment. reduce the cost of manu.ac-
turing. WHICH added 10 he effect oil cheaper end
more expeditions means Of commercial intci-
couf>c, i'll necessarily cncnpca the market price
OF all manufactured iahgice and take a hurlhcn
| !roa tiic Shoulder OF Tie consumer. When this
course is reversed! when The wages of labur The
profits OF capital, or the price OF the law matcr-
al advance; OF when any other cost or CHARGE J..
I fixed upcn manufactured fabrics before they reach
, Tie hands OF the consumer. The contrary effect
will b. produced. and IN additional harhcn will lie
! placed On tie consumer 70 understand The prac-
lica! operation o ihis and the truth OF tie re-
! marx, We have only 10 compare the prices Of The
last century with those oi Ike present and asccr-
tain the high prices which The people OF he 18Th
! century were forced Ia pay. Tor want Of he low
wa.cs, profits, and superior mechanical agcn-
cic,. and commercial facilities at the present DAY.
d.
/ them mus; receive 4 fair Profit, or ihcv will not
be nadt; hut a those expenditures are decreased.
/ ihe amount 10 be paid on them by TIE corsurncr
/ viii diminish: and, ii increased liz any addition.
I II outlay Tor transportation. or IN payment ut tn-
/ ties, the cost 10 the coa.G,aer is proport.onallv
! enhanced
In supporting this view of the subject, vour
/ Committee would repeat the rule established hy
Ike writers on Political Economy. which no one
has the harlitood 10 deny, in face Of every die
tate OF common sense that the natural price OF
manufactured articles depends On the wages OF
lahor The Profits of stock aud the price oil The raw
material which is used in their fabrication. This
natural price. with the expenses oftransporalion
| must be paid by the consumer, or the mannactu-
reiS occupation is not profitable and labor and
capital will desert it until this price can be com
married. Another rule NAV be added which is
equally well sustained and equally free from Oh
lection. that the relation between TIC supply and
demand. determines AID fixes tire market price OF
all commodities: and the products Ct those cecil
pa,ianS, which are free 10 all and fix 10 unusual
amount oi homer or iishonor on lis followers, 'v
never by any considerable amount. TALL below ~
rise above Il fair remuneration .oi The amount in
| vested in abo: and other necessary expenditures
| When particular trade i us Profitable than The
other traces and occupations in tnc same cominll-
nifty. seli-intcre>i viii prompt many 10 desert il.
! Intil, l'y thus diminishing the supply bv di:Hln
ishng The competition, the profits are brought up
10 the general average. Should particular trade
or avocaton become morc profitable then the re-
:cr>c will happen: labor and capital vii! crowd
| 20 lIa; employment until competition reduces il.
profits 10 the general level. The natural price oi
| manufactured articles which is but fair profit
| IN The amount expended in their fabrication. be-
| ing the pciat 10 which the market price constantly
| tends ii follows rs necessary consequence, thai
the market price ct manufactured articles will bc
| lowest in those countries in which the aggregate
amount OF The wages OF labor, profits oil stock
| ami The price OF the raw matorial, Is the smallest
| This being the case Your Committee can Sc
| no reason 10 conclude, that the American manu-
!aciurcr can claim any advantage over the To-
| reign manufactures, except in SCme instances in
the price o. the raw material while il is concc
dc! on all hands. that the low wages AMI profits
| in other countries more than counterbaiance il
| elect. The repeated complaints, urged hy the
| manufacturers themselves against the paupcr la
| Dor AMI large capitalists oil Great Britain until
| they are familiar 10 every car are conclusive on
| this point while the protection they require in ad-
| Iiiion ID the protection they receive from the cos
o! transportation, should superscdc the necessity
| %! any argument OH his subject.
Your Committee has mol been able 10 collect
anv very accurate information IS 10 the relative
countries and rather than frag forward any
statement Of doubtful character On il. own an
thoriiv avail, itsci OF facts stated by the advo-
| cafes oi the manufacturing interest. Ja'y haze
| made US familiar with In fact, ;h;t bare sub
| si>lcnce constitutes the wages of manufacturing
| labor in Great Britain andth many pictures odds
| trCss which I'LL The manufacturer" districts al ON
| great rival induce Your Committee Ia Leiicve.
that in his behalf the country has not :e2n deccv-
Il. L.. t.)'l
cents day as is ALLEGED by press perhaps Eorc
than any other in Ills country devoted 20 the pro
cclivc p2cy, We are informed, tv The Report al
the Gotten Committee OF the New York Conrcn-
ton that The wages received by thcs" employed
| in macuac.urin. cotton in tie t. States Is Il
fraction more than Il GEMS 4 day 10 each cFera-
tirc. II these estimates be tfu" the WAGES paid
in manufacturing cotton in IT,. u. States are ~
pcr cent. higher than those paid b. the English
manufacturers: and Il moderate estimate wonl1
| make the average rate 81 profits III STOCK IN hf
L. States l6D per cent. higher lhan in Great
Britain. This places the home manufacture
undo. disadvantages, which are not compensated
for by the chcapncss OF the raw material, even
in manufacturing cotton. The whole tcndenc;
of protective duties Is 10 increase the amount q
be sunn!ie,i bv Inc domestic manufacturer, who
has In make n greater profit than the foreigner
would be- satisfied with and TAFT too on 4 greater
outlay OF capital than the foreign manufactures
would be compelled 10 make. The labor and
capital invested in manufactures must be as pro-
litablc, rs the same amount Of labor and capita!
in any other employment. 1t cannot tor any
length of time fall below the general average O!
profits, which is 100 per cent higher than the Se-
neral average in older countries.
O:al competition htcj is the most effective in
reducing prices which is able 10 furnish supplies
~ ~, 4 tho ri has bppp
disputed tha; economy world require tie people
Of The several States OF the Union 10 import their
manufactures from abroad, il 70 restrictions on
Commerce existed That the protective policy Of
foreign nations does injure our Commerce, is also
uadened. Blu, ingenuity has as yet produced nc
valid reason TO convince rs, that this injury car
I've atonci for BIZ counter prohibitions and resiTic-
tioas, un'ess they induce other nations 10 remove
The irammels they have imposed on Commercial
al, a.