Rutland herald. [volume] (Rutland, Vt.) 1823-1847, 1844-07-18

That monopoly II Is true, will SUBJECT the
competition which may oys, in Europc;
bu, II would sill be restricted to that com.
petition. By the existence OF manufactures
10 the unlicd States, an additional compcti
ton Is created, AMI this new competitor en-.
tiers the American market con,cndinr for II
With the previous European competitors
The result is, an increase in aggregate OF
supply and eons' qucnt reduction in ptico.
But II has been argued that tie fabrics man.
utac,ured in America tnkc the place only Of
so many which had been before mannfaur.
cd in Europe that there is no greater
consumption in consequence Of the homo
manufacture thnn would exist without il
and that il is imma,eral TO the consumer
whether the theatre OF manufacture be Eu-
rope or the United States But | think this
an extremely contracted and iallacious view
Of the subject Consumption is greater IN
consequence oftho existence Of manufacture
at home. They ccaic demand for labor,
which woult not cxis, without them, md
the employment Of labor creates an ability
TO consume, which would not cxis, without
IT. How could the American labor, en-.
ployed IN manufactures at home. supply lis
consumption Of European commodities, if
i i were deprived Of that employment, o.
What means of purchase would il possess
!, is vain 10 poinlto Agriculture; for every
department Of that is already producing
superabun1an,ly. /, cannot be questioned
that the chief cause of the reduced price of
Cotton is the excess Of production. The
price of ii would rise, if less were produced
by diverling potion oflabor employed in its
cultivation TO some other branch Of industry.
This new pursui, would furnish new subjects
OF exchange and those who nigh, embark
IN II, as well as those who would continue
the growth Of Cotton, would be both benefit.
ted by mutual exchanges. The dav will
come and is not distant, when the South will
feel an imperative necessity voluntarily TO
make such diversion OF a portion of its la
Dor. Considering the vast water power, and
other facilities Of manufacturing, now vast
ing and unemployed at the South, and its pos
session. at home, Of the choice Of the raw
material. believe the day will come when
the cotton region will be the greatest manu-.
featuring region OF cotton in the world.
The power Of consuming manufactured
articles being increased in consequence of
the domestic establishment of manufactures
by the wages OF labor which they emplov,and
by the wealth which they create, there is al
so an increase in the use and consum,ion of
Cotton and other raw materials TO the ex
tent Of that in 'rease, the Cotton grower is di.
recty and positively benefited by the loca-
ton Of manufactures at home instead of
abroad.
But suppose il wero true that the shifting
to certain extent of the theatre oGmannlac-
lures, from foreign countries 10 our own, did
not increase consumption nj all, and did not
augment the demand for Cotton, there would
be no just ground uf complaint with the Cot
ton planter, and the most hc could SAWS that
II would be a matter Of Indifference 10 him.
all that would happen 10 him would be sub
stitu,on of certain number of American
customefs for and equal number OF Euopean
customers. But ought Il TO be, can il be n
matter ofindiIerence TO him.whether any por-
ton Of his fellow citizens in the United States
are in state Of prosperity or adversely If
withou, prejudice TO him, his ov n country
men can acquire part of the wealth which
arises out of the prosecution of manufacturing
industry instead Of the foreigner, ought he
moi TO rejoice at it Is il 1t to him n matter
OF no consequence that certain amount of
wealth. created by manufactures, shall be
in his own country, instead OF being in for
eign countries here, its influence and
effects will be felt, directly or Indirectly. in
all the Departments Of human business, and in
greater or less degree in all parts of the
country. II becomes a clear addition TO tho
aggregate wealth of the nation, increasing its
resources, and forming a basis of taxation
and revenue In seasons Of war or peace, if
necessary.
But the advantage resulting from domestic
manufactures, in producing an American
competition. augmeniing The supply Of mann.
~ reduction of prices, is not the sole adj
vantage, great as that Is. A double market
is pro luced both in purchase of fabrics for
consumption; and in the sale of productions
Of agriculture. And how superior il the
home 10 any other market n tho conditions
OF its proximity, its being under our own
control, and its exemption from the con,in-
eency OF The war Ii has been argued how
ever that we sell no more than We should IL
we were deprived Of the home market. /
have shown that to be otherwise. TIE i'm
portance OF opening new markets Is uniyer-
sally admitted. ]. is an object Of policy of
all nations II we could open a new mar.
ket for 400, COO bales Of Cotton with any for
Cign power, should we not gladly embrace il,
Every one owns the benefit which arises out
ofyaiious markets. Al who reside in the
nei2hborhood Of large tiles or market towns
are1sensible Of tie advantage. |, 5 said that
our manufactures absorb only about 400, 600
bales. 1.-The market OF lIavre were closed.
and that quantity were crowded into the mar
ket OF Liverpool, would not The effect be
ruinous 10 tie cotton ernwerl Our American
| market is growing, annually increasing, and
u the policy oflhe country can only bCccme
firmly fixed, the time will come, | have 10
doubt, when the manufacture of cotton in the
| Unite States win exceed that Of England.
do not desire TO see any market closed, do
nestle or foreign. think il our true inter
es, TO cherish and cultivate all. But be-
live il 10 be our Indispensable duty 10 afford
proper and reasonable cncourageinentio our
own.