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

4 American manufactures Of that article
Science and common sense had concur
red in establishing the truth Of these con-
illusions long before you made your
speech but you heot at science and
common sense, and appeal, you say, to
facts. Now, sir, these conclusions are
fortified by your own admitted facts and
theory, and such grave authority even
you canno: dispute.
But my object in writing is to assail
fortress defended by soldier more ia
nous than yourself; and have carried
your little camp, only to make lawful
prize OF aleyer and iucru4n w!lerewitb
to commence hostilities OF a sraver char
actet. will now pay my respect to the
master, having disposed Of the man.
In letter, written by Mr.. Clay to
gentlemen in North Carolina some two
or three years ago, he maintains the fol-
lowing singular doctrines. He admits
, that our manufactures require increased
duties to enabIe them to compete in
our market with foreign manufactures;
but he adds that the effect of the increas-
ed duties will SO beget competition at
hone, as to compel our manufae turers
to sell cheaper than they did before the
increased duty was laid. To escape the
obvious absurdity of giving protection to
diminished prices Of the protected atti.
cies, be adds, that although our manu.
facturers will sell cheaper after the Tar
if is raised than they did before, vet ha-
wing by the exclusion in part of the for
eign article obtained a large and constant
market, the manufacturer will be bene-
fitted by selling more atredacesI prices
regret that this letter is not before
me, but am sure that I State its doc,
trines with precision and accuracy. The
first absurdity which this letter maintains,
is no less than asserting that part is
greater than the whole. For, our Union
is small part of the world. but tie conf
petition here, under protective Tariff,
is greater, according to MIR. Clay, than
the competition of the whole world COM
hined, when we have no protective Tar
if. Hence prices are lowest when com
petition is greatest, and competition is
greatest under monopoly which gives
the whole market to few. But | may
do him injustice he may contemplate |
the partial exclusion of foreign competi- |
ton. Still the theory is the same. Les
sen The number of competitors, grant
monopolies and favors to some, and tax
and impede others, and. says Mr.. Clay, |
you will increase competition. 1t is still
the same absurditv, that part is greater
than the whole. But Mr.. Clay may say,
and probably does say in this same let
Ter, that the English manufacturers, when
we have no protective Tariff, combine
to Hood our market, and sell at prices
lower than they or we can afford, and
thus break up our manufacturers, who
having less capital cannot carry on this
losing business as long as the Enslisb;-
and that, after they had broken up our
manufacturers, they will have a monop-
oily OF our market, and charge US higher
prices than our own manufacturers would
have done. This is Mr.. Ciay's theory,
unsustained by facts; therefore, to relate
1t have only to show, that it is absurd
and impossible. In The first place, if it
were possible for all the manufacturers
IN England to combine and agree to sell
their goods at a sacrifice to US. in order
to break down our manufacturers. IL
would be impossible to form such com
bnation and agreement among a great
number OF meh SO secretly, that no ,evi.
dence of the fact should leak out, and 10
proof is offered that such combination
was ever agreed on. But, in the second
place, they could have no Temptation or
inducement whatever to food our mar.
ket and sell at sacrifice to break down
our manufacturers, because they would
gain nothing by so doing. will now
introduce Mr.. Evans lever and fulcrum.
Competition in trade reduces the profits
Of the various vocaticns in life to the
same level; competition in England is
much greater than it's here, because la
Dor and capital are more abundant there.
and also cheaper; hence the English ma
nulacturer must work cheaper than we
can, and must break up our manufactu-
rels. if suffered freely TO compete with
them.' But after they have broken
them down, this same competition at
home will compel them to sell as cheap
as they can atford-hence they VIII have
made by combination temporary sacri-
flee of profits. 10 break down our manu-
facturers, and. according to Mr.. Evans
theory Of competition. VIII be obliged to
sell as low after this flooding experiment
as they did before; for, the competition
in England remains, and that is ten times
more formidable and controlling than A.
merican competition. IT they attempt
to raise their prices and make large pro-
fits in our market, when they get thus
the monopoly Of it.. millions Of capital
and millions of !aborers are ready to
compete with them, and thus. having
conquered our manufacturers, they have
achieved an empty victory as long as
money and men unprofitabIy employed
remain in England.