Sentinel of the valley. [volume] (Woodstock, Va) 1841-1848, 1844-03-28

PIE 10 pay him his own price For them.
ana would modestly state what duty he
required. The calico printer would say
| can get along with duties from 10 to
lo0 per cent it you will place the high
est rates upon tie coarsest fabrics. The
MANUFACTURER Of cotton. cords, velvets,
iustians and similar articles--a. cheap
and decent clothing for every farmer,
planter, and mechanic in the United
States : would say, If you add so le,
cent. to the duties imposed by the tariff
OF 1928. ican supply the wants Of the
country. And, in like manner, every
SORT OF window glass, az
ricultura implements, wood, screws and
even brass plns-were foisted into This
act providing revenue under rates of du-
.ty which are totally prohibitory. An
act, forsooth, to 'proyi.9. revenue from
imports by excluding those imports al
together! But what became of the lob
bY-patriots and fnanciers who aided so
.dlsihterestedly in making this formless
and lncoherent patchwork of a revenue
talitf for protection and prohibition?-
AS soon as the act passed, they posted
home with all practical speed, to realize
the fruits OF their c0ntrvances, by pro-
ducing large supply of these protected
manufactures; aud as often happens in
such cases, were providentially caught
IN their own snare. They oyerstocked
the market; and as natural result, pri-
ces for short time declined. and though
some of The more prudent of these specu-
lating patriots made large sums, others
believe, we're ruined.
And now sir. as to the reviving trade
andProsperity Of the country, which the
senator .ascribed to the high protective
duties of the tariff. That foreign trade
should increase by high and prohibitory
duties on Ioreign imports,is one of these
wonderful facts which constitute the
manufacturing theory. Now, had
thought that if there was any one opin-
ion IN which all statesmen and men OF
business would concur. it was, that the
revival oftrade and prosperity now in
progress. was owing to the restoration of
our currency-furnishing substantial
basis of all the operations of tratle-and
the recovery of the country from the ire.
mendous reaction which unavoidably re.
suited from an inflated currency, and
the wild spirit of speculation to which it
gave rise among all classes. But while
the senator from Maine contends tina.
the tariff of 1942 has reduced prices, he
in the next breath contends not the less
earnestly that the high duties imposed
By that act are necessary TO Save domes-
tic manufacturers from the competition
OF their foreign rivals. BY what appears
to me an imcomprehensible confusion of
ideas. he maintains that high duties re-
duce prlcesby increasing competition!-
That is, you exclude the competitor who
can sell cheapest, and precisely because
he does sellzcheapest, ii order to redue Q
prices by increasing competition!, Why,
sir, the very genius of paradox can go no
further. But says the senator, the com
petition of cur own manufacturers will
reduce profits to the general average lev
Ell. To what average level, i pray sir?
10 the average level Of profits in Eng
land, where the senator told US that the
lnteresttof moneyowas % per cent;
whereas tits seven here, and the wages
OF labor equally disproportionates TO
the average OF the profits of the, farmer
and cotton planter. the latter of which
! know does not exceed 5 per cent; and
| understand the former lis still less?-
Not at all sir. The senator means the
average profits of these pampered monop-
olists themselves, whose dividends are
smalled up TO II, 20, SIS, and even 40
per cent. by forced contributions, extor-
ted form the ill-paid labor OF all other
classes. From such competition and
all its consequences, Good Lord deliv.
ser u.s.
senator from Maine was very coy
and modest in answering my inquiry as
to the present profits Of the ,nanufactu.
rers. AIr. Evans. said did not
know presume, then this is one OF
the secrets Of the craft, but | have re-
Gently seen u statement in a Lowell pa
per OF semi-aunuai dividend of ten per
cent, which remains uncontradicted.
But procc ed to notice another argu-
ment of the senator. addressed rather to
the blindprejudices than TO the true inter
est OF common sense Of the country -
He asks in tone Of offended patriotism
when you sent your cotton abroad TO be
exchanged for foreign manufactures, do
you not employ toreiga iaborF' Now,
sir, It i.inay be allowed the privilege of
following New Enslaadeustum. win
answer this question by asking another.
When we employ the labor Of Great Bri-
tain, France, and Gerinany,to manufac-
ture what we require. do they not EN-.
ploy our labor to at least the same ex.
tent. in producing the staples Of exporta-
tion?s- Is net commerce, in its very ma.
lure, an exchange Of labor as well as soi
commodities, each party gaining by the
exchange! And let M aid SIR, that The
cheaper TIE foreign labor we employ, the
more profitable is our foreign coincfefce;
though y seems to be the great grievance
u "hichAsfe manufacturers coiHplaiu.-