The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1844-07-06

other class and yet there was no class that 90 often
to parliament for relief The sliding scale Of duties or
corn admitted into the ports Of Great Britain
considered protection to the Of the king
DOM but rather system protecting the land
stead Of the producers The effect Of this sliding scale
Is to sustain the high rents demanded for the SOIL not
for the protection Of the products Of that soil Excess
sve to any industry cannot be considered ad.
vsntageous to that interest for any length oftme Where
any interest is selected for especial protection,
that branch of industry becomes over inflated, and
must inevitably be destroyed. Moderate protec
ton 10 the NEST profitable The silk and cotton
trade OF Great Britain has grown up under a pro
lection Of 20 and 80 per cent The cotton and woeen
manufactures Of this country have grown up under
protection Of from as to per cent These duties were
sufficient to stimulate production moderate extent
while excessive projections to these manufactures would
have raised up competition that would have reduced
prices and like the Kilkenny cats destroyed themselves
Every advocae Of free trade fails to sustain his position
when he descends to apply and effect Bare and
broad assertions that the foreign trade of any country
completely controlled by the tariff Of duties at home fall
to the ground when compared with facts Members ofthe
British Parliament say that the foreign trade Of the ned
States 10 greatly restricted by protective tariff Tho
whole decrease in imports Is attributed the evils OF
our tariff laws. Every well informed in this country
knows that these laws have very limited influence on
the extent Of our imports Il begins to be pretty well
understood that variety Of Affects our foreign
trade other than the per cent duty imports The
workings ofthe present tariff act sufficient to destroy
the theory Of all advocates Of free trade In this country
The commercial nations of the world are gradually
growing more liberal In their Commercial systems Re-
taliatory tariffs attended with many difficulties and
greatly restrict commercial intercourse The jealouses
and prudices Of former years fast disappearing and
in the absence Of reciprocal treaties every nation will
gradually withdraw restrictions from each other. and
adopt mutual sysems Of reciprocity for their in.
terests. We have doubt but that few years will
suffice to complete revolution in the distinctive sy
TEN Of Great Britain and out Of the restrictive will
grow liberal policy than that of any other nation
The Illinois Commissioners have at last effected the long
talked Of State Loan In London The negotiations were
to be closed and the premnares settled prior to the de.
parure Of the Great Western by which vessel shall
probably receive the full particulars of the loan. We
learn that 5000 twelve per centare to be immedi-
aely advanced The contract is very liberal terms
but doubt the ability Of the State fulfil their part Of
the bargain The State sgressthrough the Commission
ers-to pay the full interest her public debt in ls47
This is part Of the contract and the part the most
difficult to carry out.