Hawk-eye. [volume] (Burlington, Iowa) 1843-1845, 1844-09-26
We resume according to promise our con

sideration Of the Tariff article in late Ga
zette. The writer as he becomes warmed
by his rhapsody" transcends even the large
latitude Of partizan license. Hear him.
..Who (the manufacturers> are already
making thirty and forty per cent. upon the
whole amount Of their capital invested. ~
Without seeking for any dainty phr aseology
to please the palate, we pronounce the state
ment unequivocally false. 1t is not in his
power to point to single semi.annual divi-
dend of twenty per cent; nor can he in.
stance even two consecutive ones of fifteen.
Let US see how simple an explanation will
gorgng itself by overlooking. With the
Limitation Of the compromise act and the Sc
we're revusion Of 40 and Al trade stagnated
in it's channels, commerce was paralyzed
and manufacturers sought in vain for the
usual vents for their products; with the
lofts Of their factors slowed and their own
ware houses overlooking with goods, con-
slant downward tendency in price and but
a small apparent surplus Of profits. as
shrewd men they did not and as prudent
men they could not divide among stockhold-
ers earnings which farther decline in price
of one half cent per yard would completely
neutralize and perhaps shift the balance to
the debtor side of the profit and loss account.
Here then in these cases of large dividends
80 Gov
to be distributed, or about fifteen per cent
ofannual profits on the capital. For the
twenty years from "a to ~ under the sew.
eral revNions of the duty acts in "a, '28, '3s
and 40 the dividends upon manufacturing
investments will not average over twelve
and half per cent. yearly Have the kind
ness, Mr. Editor, &c give US list of the arti
Giles OF home production that have advanc-
ed "30 to 40 per cent. and are still going up.
ward" 1t may require some research,
therefore take your own time to reply. But
"there is reason to apprehend that league
exists among the monopolists to keep prices
up" Our friend grows facetious; this mus
be an amable pleasantly, a playful joke
thrown in to relieve the sober tone Of tn
essay. and to gull the flats. Could we hav
looked into the editorial armory we ehoul
have seen him at the conclusion Of this sen
tence lay down his pen with cnmpacen
air apply the end of his dexter thumb
the tip OF his nose and execute very o,
pressive piece Of pantomime with his lltt
finger. But wit or wisdom we are bound t
gravity. If his thousand subscribers, NOR
or less, can swallow such an absurdity as
fact either probable or possible, they mus
be blessed with capacity of throat whic
should relieve them from all apprehension
Of bronchitis. Must we 60 back to the rud
ments and inform tho editor that the opera
tions Of trade are as invariable and fixed .
the laws Of the solar system or the relation
Of seed time and harvest? Must we en-
tighten him as to the first principles Of sup
ply and demand7 Does he require to be in
formed that, with g!ut of the market an
an absence of demand, prices recede, whii
with light stocks and brisk inquiry, rate
advance The manufacturing product
Massa chusetts is over one hundred and ti:t
millions in cottons and woo!lens alone
Where is the man or the association Of me
that can put the heavy hand of monopol
upon the gross amount of all the othe
states in addition to this. Efforts have bee
made in New York during the interruptio
Of navigation to control the price of -four b
absorbing the whole supply in the city bu
they have been but partially successful
The U. States Bank with the vastness an
vigor of her immense resources sought I
sustain the cotton interest by the same Pre-
cess and was ruined in the attempt. w
will leave generali:ies and look at it pract
cally. We will assume for our present pu
pose that there are one thousand corpor
tions and firms engaged in the fabrication
cottons with an amount of capital eac
ranging from ten thousand to twelve hur
dred thousand dollars; three hundred of thes
from the extent Of their means and an u,
limited credit are above the vascillations
the market, they can sell or hold on at the
option, but how is it with the remainin
seven hundred7 They are men Of modera'
wealth and more restricted credit. Ever
bale Of their stuffs goes to some ems Of ii
great marts of sale as soon as the thread
the bagging is made fast, and in most case
they value against the shipment for one ha
OF the invoice estimate. By a "commo
law" Of commission houses the moment
firm place their signature upon the face OF
bill thus drawn, in anticipation OF sales, tn
right Of debating prices passes from tn
owner to the consignee. The goods are sold
and be rates high or low they share tn
yicissitudes of the markets. Thus much 70
this soap bubble Of ''lcague" to keep u
prices, which We trust we have effectuall
pricked. There 10 another portion Of tn