The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1844-04-12

suit was, that she became the most lmpoF-
erished nation in Europe. Now, By exclud- (
ing foreign Imporrs; by selling much aud
bu,lng lutte; by refusing TO take from the
manu-. acturIug nations oi Europe the pro
ductons Of their own industry for our gtes,
stalI-s, YOU produce forced importation
of me precious metals, winch adds not
cent 10 The substantial wealth OF the coun
iry and prohibit the expectation, and Of
COURSE, the profitable use of those metals.
by means more effecIual than the penal
Laws Of SPAN that l., By prohibiting the
iuporiallon OF the foreign commodities Tor
Whrth alone II is at sIl desirable, or 10 any
extent poss,blp, 10 exchange them. Bur,
sir, pass over several topics OF less int
rest, and shall nov proceed 10 present some
views of this subject, Which are TO ne oi
more intense and engrnsslng interest Than
any or all of those which have hitherto
presented. alude TO the U, just, unequal
aud oppressive operation VI thus protective
svstem, upon that PARTON OF the I. States
or~hlch the capital aud industry are almost
entirely employed in producing the staples
If esportstiun. Now, slt, lhele are sone
five or SIX States in the north aud northeast
of ,hi. Union, largely engaged IN the pru
d1c;tnn OF manufactures. On the oiher
hand, there are some eight or nlne States
ia the south and southwest, largely, and
some of them almost exclusively, Engaged
IN producing The grea; agricultural staples
of exporfarion. And II so happens, that
these foreign manufactures which We re
cisely those which are Manufactured most
extensively in this Country. IL Is the Inte.
rest of The d0mesrc manufuciUrers-ai
lrss, as they understand ii-n"t only 10
diminish, but 10 prohibit entirely the im
porlatIon Of these rival foreign manu'ac
lures. Ii IS, on The contrary, the obvious
interest Of The producers Of exports that
there should be no restrictions al all on The
impnrtstion Of these natural exchanges,
which they receive for the productions OF
their capital and labor. Here, then, II Is
not 10 BE- disguised, 10 a direct conflict Of
Interest between i~o great branches Ut do
mesiic industry. You cannot impose du
~ upon one, however small and for hat
ever purpose, that will no. unavoidably up
EfbiE rs UUIUFU VII ttldt OHt dllu DbutIil
to The other. The very act by which you
confer bounty upon one, imposes co ex
ienslse burden on the other. Ii the gov
erumeni had no Use for revenue, and our
foreign trade was literally free from all du.
lies. there would be d far and equal compe.
tiiion between these rival branches OF in
6aslry. Each class Of producers would en-
49, IL M, rD,,fH
justly complain. But The moment The gov
ernment imposes on one revenue duty,
(say 90 per cent? however necessary aud
expedeni, II UHaynIdably destroys thus e.
quality. Discrimination Is made against
one, and in favor Of the other, 10 the pre-
else amount Of The duty. Nov, what |
venture TO affirm, IN this view Of the sub
jpct, 10, that the value Of the staples of ex
porIalion, as compared with the value Of
domestic manufactures, is diminished IN
exact proportion to the duties imposed on
the foreign manufactures received for those
staples, Ii would seem 10 be almost a self.
evident proposition, that the true measure
Of The value Of our exports 10 the quantity
Of consumable commodities We eau obtain
duties, for The annual cotian crop exported,
(say 1000 600 Of bales,) he States that
produced il could obtain, il shall be sup.
posed 600 geo Of bales Of manufactures.
Nov, when you impose an mpost duty OF
20 or 10 per cent. upon these manufactures,
you diminish the number OF these bales by
IS many as will be required 10 pay the do
iy-in the ore case 100000, leaving only
500 00O; N the other 500 900, leaving
only 100000, as the actual intrinsic va,
ue Of the cotton crop exported. II il be-
said that as much money can be OBJ med
for The smaller number Of 5alee, owing 10
their enhanced price, as for The hole two
millions, Il IS Sufficient answer 10 say
that the exporting States, including plant
efs and eli Other classes, consume very
nearly Inc Whole return received for their
imports, either in imported manufactures
equally enhiuced b the duty,
Bu', sir, ,hcre is another view Of this
sUlj 81 which leads Us 10 the same result.
though by d,Fefen, process. And to
this | invoke the earnest attention of The
Srnate. as the argument is not as obvious
es think il solid. When YOU originally
impose, or whrn you increase dniv upon
foreign manufactures, (say 30 per ceui.
the first If CT Is 70 check mporaiions oil
Manufactures, and Cause the importation of
specie. TINS operation viii continue until
thr price VI domestic manufactures IS 50 Gar
enhanced tina, lhe foreign manufactures
can be imported. pay ny the duty, ~l,h the
ordinary mercantile profit. Nov, this en-
hancemeut Of The price OF manufactures
(fofelgn and domes,c)1n our market, as
Compared win Ihem PRICE in foreign mar
kets, - neither more nor lee. than cor.
respond ng depreciation OF me value Of mo
ney 10 this country, as compared with
these commodities. The very reason
which causes the depreciation OF specie 10
this country, causes us appreciation in En-
rope, though not 10 the sane extent. The
whole result IS, that, as Europe furnishes
The great ina hrls which consume sir