The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1844-06-29


at home. They create demand for labor, which
would not exist without them, and the employment
Of labor creates an ability TO consume, which
would not exist without IT, How could the Ameri-
can labor, employed in manufactures al home, sup
ply its consumption OF European commodities, IT It
were deprived of that employment! What means
of purchase would It possess tits in vain 10 point
70 agriculture; for every department OF that Is al
ready producing super-abundantly II cannot be-
questioned that the Chief cause OF the reduced
price Of cotton Is the excess of production. Inc
price OF II would rise, It less were produced, oy d.
verting portion of the labor employed In It's cut
tivation 10 some other branch OF dustry. This
new pursuit would u nlsh Lew subjects OF eX.
change and those who might embark In II, as we'll
as those who would consinu. IN me sr9wth o. cot
The day will come, and Is not fir distant, when
the Souh will feel an Imperative necessity vounta-
rily to make such diversion OF portion OF lis la
Dor. Considering the vast water power, and other
facilities OF manufacturing, now was ing and I'M
employed, the South, and lis possession, at home,
OF the choice Of the, raw material. | believe the
day will come when the cotton region will be the
greatest manufacturing region OF cotton IN the
world.
The power of consuming manufactured articles
being increased, in cons. quence OF the domestic
establishment OF manufactures, by the wages OF
labor which they employ, ind by the wealth which
they create, there Is an increase also In the use anu
consumption OF cotton and other raw materials.
To the extern, OF that increase the cotton grower
is directly and positively benefited by The location
OF manufactures at home instead OF abroad
But suppose 1t were true that the shifting to Ger
tain extent, of the theatre OF manufactures from
foreign countries to our own, did not increase con-
sumption al all, and did not augment the demand
for cotton, there would be no just ground OF com
plant with the cotton planter, and the most that he
could say is, that il would be matter ct indlfft
ence to him All that would happen to him would
be, substitution OF certain number oil American
customers Tor an equal number OF European Gus.
toners But ought it to be, can 1t be, matter Of
Indifference TO him, whether any portion OF his tel
ow-cltlzens in The United States are In state Of
prosperity or adversely! Il: without prejudice to
him, his own cOunuymen can acquire part vt the
wealth which arises out of the prosecution OF manu-
FAC urng industry, instead OF the foreigner, ought
he not TO rejoice it, Is to him matter OF no
consequence that certain amount OF wealth,
created by manufactures, shall be IN his own coun-
try, instead OF being III foreign countries! il here
its influence and effects will be tell, directly or in
directly, in all the departments OF human business,
and in greater or less degree IN all parts OF the
country Ii becomes clear addition TO the sggre-
gate wealth of the nation, increasing In resources
aud forming basis of taxation and revenue In
seasons of war or peace, it necessary.
But the advantage resulting from domestic manu-
features, in producing an American competition
with the European competition, augmening the
supply oil manufactured articles, and tending conse
quently to reduction OF prices, is not the sole adj
vantage, great as that Is A double market Is pro-
uced both In the purchase OF fabrics Tor consunp
ton, and in the sale of productions OF agriculture
And how superior IN the home TO any other market
in the conditions OF lite proximity, Its being under
our own control, and It's exemption from the con-
tingency of war! 1t has been argued, however,
thar sell no more than we should do II we we've
deprived Of the home market. ! have shown thai
TO be otherwise. The Importance OF opening new
markets Is universally admitted II 10 an object OF
the policy of all nations If we could open new
market for 400 600 bales Of cetton with any foreign
power, should we not gladly embrace II! Every one
owns the benefit which arises out OF various mark
| cts All who reside in the nelghborhood OF large
L ctfs1 rExff TN ara
t,ge. II Is said that our manufactures absorb only
about 600 bales OF cotton, which ls very small
part OF the total crop. But suppose that wer'
thrown upon the market of iverpoo, already over
stocked and gluttedl 1t would sink the price la
below what II now is. France consumes also abou
iOO, 900 bales. II the market of Havre were closed
snd that quantity were crowded into The market G
Liverpool, would not the effect be runous TO tn
cotton growerl Our American market is growing
annually increasins and, II the policy OF the cour
ny can orly become trinly fxed, the time WI
come, have no doubt, when the manufacture @
cotton in the United States will exceed that O
england do not desire TO see any market closed
| domestic or foreign. J. think II our true interest Il
chrrrh and cultivate all. But believe il TO be on
INDISPENSABLE duty 10 afford proper and reasonable
/ Encouragement 10 our own.
l But II must be borne in mind that, although cot
on Is by Tar the most important OF our agricultural
products, u Is NO, The only one Where should W.
find market for our Indian corn, II It were no
tor the existence OF our manufactures! We should
absolutely have none. My friend, MIR. Petilgrew
who sits before me, can find no market tor HIS con
~ North Carolina, because his neighbors, like him
| srlf, are occupied IN producing 1t. But he meet
With good, sure and convenient marketln Bostoi
| md Providence, and other northern capitals
l Where should we seek market tor the flour, pro
VISIONS aud other agricultural produce now con
.umed by our manufacturers II their present bu
| aness were destroyed, they would be employee
IN. mselves IN producing cotton, corn, provision
md other agricultural produce, thus augment ih'
usnriiy, and inevitably leading TO further decline
| Il pric,s
II has been commended that the effect of af1ordinl
| ~gal encouragement TO domestic manufactures If
% enhance the price at commodities, and to mpos'
| lar upon the consumrr This argument has beer
| a thousand times reiuted
| IL has been shown again and again, that thu
wee Of almost every article, on which the system
| Il encouragement has efieciualy operated, ha
| peen reduced 10 The consumer And This was th'
| oecssssy consequence OF that law OF supply an'
| i.mand, and that principle Of competition, Il
| VIII ch have before advrrttd. II was toretold Ions
go by myself and oihertrlen Of the policy Blu
It's IN vain that we appeal to facts 10 IN van
hat We take up article by article, and comparing
lrcsent with former prices, show the actual am
| gradual reduction. The free trader has mounted
has hobby, and he has determined TO spur and viii
him on, rough shoo, over all facts, obstacles ant
| mpedimeDts that Ice IN his way. twas but me ON
/ y day, heard OF one 81 these free trade dealer
addressing an audience, and depicting, IN the mos
i islntIve and doeiul terms, the extreme burdens
add oppressive exactions arising out OF the abofn
| 1abir arm why, says ne, irlow-cltiIshr every
\ one II you that wears shirt, ls compelled TO pay
/ ia c-nis yard more for Il than you othrrwls,
would DO in order 10 increase the enormous wealti
| 4 aofihern capitalists An old man m tbs crowd
| shabbily dressed and with scarcely any thing bu
q shiu 90, stopped the eloquent Orator, and asked
| him how that could be tor, saws he, Il have .
GOOD shin on that cost me only "a cents per yard
snd should Like to know how paid duty OF
| csnt-"
| Thess ingenious and interchangeable theorists, MOI
only hold ell facts and experience IN contempt, bu
| hey aIe stteTiy moons sient with themselves. a
time, they endeavorio RAISE the alarm that the
| Tsnf weuld pui an end to all foreign commerce
ADD thus dryius up our principal source Ut revenu,
| ~ imports v would brcom- necessary 10 resort Ia
flfeci taser snd ln~rnai tHxaiion. In process al
time, however. their predictions were issliied, anc
he sy-i~m was Toe Vi 10 produce abundant, reve
ans Thrn, they shifted their ground the Urea
ssfy. saf1 NY, % overlooking; the Tariff ~ the
| rau.e and the system must be- abandoned. " the,
hsd have TAKEN the trouble 10 inquire. they NIGH
nave ascrrafnrd that. although Englan Is tie