New-York daily tribune., 1844-11-05

4
Dreaming the vessels of the United States and
p'ecug high duty up3n It's export in her own
vessels. when those acts became known
among us, Congress-, at the suggestion nf the
Govenmep. of Mr.. Madison, promptly passed
an act declaring the forfeiture of any snip OF YES.
sci with Piaster OF Paris, and denying al ent-y
into our Country, after the 4th DAY Of July next
ensuing. Of The flag If any Nation or her Colonies
which so excluded American vessels from their
trade" l am sofrv to say that such prompt
legislation On the part of our Government has
entirely gone out of fashion.
In late Speech made by Gen. Tslmadge, he
stateG we have three times tried Free Trade, and
each time have reduced the Country nearly to
ruin, and yet our opponsnts are not satisfied.
The fist time was after the Revolution, and its
evils were perhaps serviccable then, as they CON-
tributed to the formation of the present Consitu-
ton The second time was after the War of 1912,
and Mathew Carey informs us that The price of
labor was reduced to thirty cents day. The
third experiment was at the expiration OF tee
Compromise Act, and then produced the diff
cultirs under which we have since suffered.
Contrast this position Of l84l with our present
plethora OF success in 1844, and we think that
the advocates Of Free Trade should blush at
their perseverance, in error. Gen. Talmadge
then read from the work of John Gee, published
by authority for the benefit Of the Lords of the
Treasury OF England, ard never put into general
circulation, (he only copy of which in the United
States is in his possession the following extract:
fs e the hb. s s g Rs IF s Ss ss 3 de-
foreigners examine whether receive from them.
send them ours for export more goods than we receS
gold and silver md the mint will be ut work to com tha gold
S s Rn Te mus. Re pa an by se and %
them them discharge that debt, am afraid the pre-
Brought int" tbs country by the Balance Of Trade and coined
bnnS ,H en mt away to pay our debts We send our money
foreign nations and by empoying their poor instead OF our
own enable them to thrust out Of foreign trade and by
imposing high duties our manufacture so TO clog the I'M
portaon Of them, that it amounts 10 a prohibition
This argument has proved a prophecy IN rela-
ton to our country.
Frcm the year 1886 to 1e40 inclusive, the
average amount of coinage at The United States
Mint was little over S3,000,000; in lS4l, the
last year of the odous Compromise Bill, it sank
to S2,500,000; in l842 it will be rccolectedi that
the present Tariff was active for few months
only. The coinage rose TO over 81 0O0, 600 In1643
the fist entire Tariff year it was increased to
within S34 600 of Sl2,000,000, and in The pre-
greater. The retention of real wealth by the in-
crease in our manufactured products is here clear
" illustrated, and the present pentitude Of Capi
raj is To attributed to this larger coinage by our
Government.
England legislates for herself,and go she should;
ene endeavors to make us believe she leglslates
ior the world In this she tails. AS proot o.
the estimate IN which she holds the responsibility
of manufacturing communities, 1t is only neces
,ary 10 state, that while the loan required by Mas
sachuset,s for The completion OF her Western
Railroad was speedily taken, all at low rates, by
English capitalists, the bonds of our General
Government lay sluggshl7 on The market for
want OF purchasers The single Sta,e OF hassa-
cnuse,ts alone creates larger amount Of manu-
i4ctures per snnum than the value of the whole
cotton ctop of the six cotton. growing States In
lS40, Just previous 10 The prostration Of manu-
factures by the closing year Of the Comp omse
Act, her manufactures produced S90,006,0o0. In
l94l it was comparatively nothing. In 1914, 1t
will swell to An amount far beyond the hopes OF
the most sacguiae. II will be recollected that
this States nearly sterile, barren waste,and with
the execution of u small section of country In the
immediate vicinity of Boston, totally inadequate
10 the production OF her own agricultural sup
pics. She therefore becomes the customer OF
New York and the Far. West, and as her con-
sumption increases with the progress OF her man
ufactures, she supplies that which foreign policy
denies us market-for our agricultural products.
But few years since, the merchants OF Sa
lem petitoned Congress not to protect the cotton
manufacturers for said they we send eleven
ships per anuum to the East Indies, with two
hundred thousand Spanish dollars each and
bring home India Musns which we sell at 25
cents per yard, while the home manufacturer can
not manufacture them at less than thirty cents
per ward, Congress did not listen to tsls epecous
reasoning, but protected the manufacturers, and
what is the consequence By the effect OF home
competition alone S200000 will now build
cotton factory at Salem and create cargo OF
the same quality of goods, which are put on
board at six cents per yard and exported to Can
ton, the very place we formerly imported, from,
and sold at lower price than they can there be
manufactured. Let us now examine what ls the
effect of this Salem manufacturing alone, even
if the amount in goods were no greater than pre-
viously imported, on the monetary position OF
the country. In the first place it prevents the
exgortation of 100000 specie per annum; it
brings home S573903 per annnm,it gives en-
poyrnent to several thousand hands and supplies
market to our agricultutits for an amount OF
product equal to two thirds the value exported.
These differences in amount had they been re-
ceived at any one time, in the precious metals
during the late prosrstion would have given
more real benefit TO the country than all the
supposed protection paid by owners to manuinc-
lures would amount to Ii any one year, besides
the fact that i. furnishes the workingnen with
his shirt at six cents per yard, instead Of 2S and
all these advantages are attributable to the legis
latiyc protection afforded to the one town OF Sa
lem alone.
The effect of Protective Tariff upon Agricul-
ture is important. Nine -tenths of our population
are Farmers, or employed in Agriculture, and
r,ust not be called upon 10 dispute with Bavari.
ans or any other people for mar ket and for
protection. Where else will they find that mar
ket but in our manufactures Let us look how
thew feel the effect of Protection on Manufacto-
ries M in a single article The annual crop Of Of Pots,
ioes in the United States il 1910 was los, ,OOOOO0
OF bushels. The value of this crop, at thirty