The northern galaxy. [volume] (Middlebury, Vt.) 1844-1848, 1844-04-17
HON. S. S. PHELPS SPEECH,
ON TIE TARIFF.
Continued.

IONLlnucu.
Mr.. President I will now proceed to notice
some Of The objections to this policy.
The first in order and in importance is that
it destroys commerce. A greater fallacy than
this cannot be conceived. Gentlemen ask with
great emphasis, win YOU destroy com
mercel No Sir, We design no such thing
we anticipate no such thing,-we GPpre-
bend il not. Our purpose IS so to regulate it
as to make it subservient TO the general pros
perity rather than perpetual drain of your
resources; to give If a different result;-iO
limit our importation to the amount OF our
expectation, and prevent the over Importation
Of foreign fabrics, and the consequent burIhen
offoreisn debt.
Nor does the policy which we advocate tend
to such a result. The experience of the world
shews the contrary. Look at England. She
has steadily, perseverngIy, obstinaieiy, adher-
ed to her protective policy. She has protec-
ted her agricultural industry at home. and fos-
tered her manufacturing interests for eentu
ries. What is the result She is the most
commercial nation upon earth. Her manu-
features have been the basis of her commerce.
She has been the workshop Of The world. Her
manufactures have found their way into every
civilized and many of the uncivilized nations.
of the earth, and, in this way, the resources
and the energies of the civilized world have
been made tributary to her prosperity and her
glory. Sir we are following in her steps. The
exDortation of cotton fabrics has already Gem
menced. We formerly sent specie 10 China
in exchange for her teas. We now send cot
ton eoods-Does any man Imagine that our
trade with China will be diminished by the
change The same fabric is sent to 5. Amer
ica-;o the East and West Indies. The
amount Of this article exported in the year
1912, exceeded three millions of dollars For
this the productions of foreign countries are
received in exchange, or, if not. the very rep
rcsentative Of wealth gold and silver is remit
ted. The ability of every nation 10 sustain its
production at home. A people who export
nothing can import nothing. This has been
the experience Of the world and such it ever
will be- If you would purchase you must
secure the means Of payment. Give to your
people the means Of enjoying the Injuries Of
foreign importation, aud you may rest assur
ed that the disposition will not be wanting
By adding to the quantity and variety ofyour
domestic production you add to your capaci
~ for expectation, and of course for importa-
tion;-your importation will correspond to
your expectation. The great mass of the
efforts of this nation must and will be return
ed in the productions Of other Countries
Tins your commerce will be increased-iu-
cvitabiy increased-and that upon the basis,
mot of YOUR credit. but of your domestic pro-
auctions. This is the basis upon which it
should rest. So long as IT remains upon this
footing it will be prosperous and profitable
But renew the system Of Free Trade, and Of
excessive Importation, and the result will be
as il has been. Your commerce will be I'M
dermined by the gradual exhaustion of your
means-your currency will be Frustrated as
il has been-your credit abroad will be sac
rifced. and what is worse, your national hon
or and character will be sacrificed with it.
WHY is it that your foreign commerce has
fallen off! Is it not that your people have
become impoverished and unable to purchase
foreign goods. Large importaiions have
been made and the goods e-shipped-return-
ed whence they came for this reason. Now
if YOU will restore your commerce and your
revenue, YOU mus, restore the ability OF your
people. Diversity your labor. add to the va
riety of exportable production, bring foreign
nations in your debt, aud you may receive
what YOU please in payment.
Sir, my own observation has satisfied me
on this point. When the produce of the
county in which | reside bore good price,
and met with ready sale, the people of that
section INDUCED freely 10 the consumption Of
foreign imports. But no sooner did that pro-
duce fall, than general reduction took place.
The dealers in foreign goods will tell you,
that, after the falling of Of the prices Of az