Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1844-11-29
SuOpT RIFT STRONG

We have read with Measure the message OF
Gov. Steel TO the New Hampshire Legislature.
|, has the peculiar advantage of not being more
than 4 half column in length. We extract what
it says OF Federal politics, occupying nearly one
half Of the message-cominS from the Granite
State It's views are Of the pure grit:
at would, perhaps, be out of place for me TO
congratulate The Legislature on The result Of the
Presidential election; yet ! cannot forbear say
ing. that its result must 90 far towards convicing
political aspirants that honest, strais tforward
action is far preferable 10 ever varying professions
corrupling schemes of distribution, or false is
sues on national policy.
'Not many years since, it was confidently
said, that without National Bank the currency
would be ruined, and exchanges from one section
OF The country to another would be disasrously
disordered if rot rendered Impossible OF being
effected at all Time has proved these conf
dent predictions 10 be wholly unfoundcd. A
sound and wholesome trade has effected that
which the United States Bank failed to do, and
has gone far towards convincing every one open
10 conviction, that trade left 10 ITSELF will regu-
late its own concerns much better than any arti-
fetal power can do it.
"Such also will I've the fate of the present Tariff
predictions. The Tariff, left as il now stands,
will work the destruction ofthc interests involved
in its immoderaie protective clauses. Protective
duties have the effect Of enhancing the price Of
the articles protected, and in proportion 10 the rise
of prices will be tie profits made By the producer
or manufacturer. Itthosc profits are large, the
induccmen 10 capitalists is great to extend such
profitable business; and this is often done so hasli
iy, that prudence is lost sight Of. A rush takes
place the business is overdone. and the home
market overs.ocked. To remedy the evil TO-
reign marl,e, must be rcsored to; but this cannot
be done excep, al j sacrifice ruinous alike TO the
business Of the manufacturer and all other int
rests necessarily connected Herewith. That We
are fast approaching such 4 crisis l cannot
doubt. Manufacturing establishments are being
erected or enlarged with such haste that time is moi
given rbe damp walls cfthe building ofthe paint
on the machinery TO dry. Machines Of all kinds,
new and old, are eagerly sought after and as eager
" set in motion. Tine late land spcculations were
scarcely conducted with less delberaton or judg-
men., than are The erection of mills or purchase Of
stock in mills already built. If the concern can
matter what the construction or durability Of the
building or machinery may be, they are rarely, if
ever, examined or enquired aiter-present gains
alone control The decision OF The purchaser. The
result is incviahle-proteciive duties Cannot save
interests thus situated from revulsion, which
must, sooner or later, bear heavily on the opera
tves and force them either 10 add to their already
bunhensome hours OF labor, or submit TO large
reduction ofwages, perhaps both. Such has ever
been and will he the result of all hot-bed systems.
II we wish 10 have wholesome and permanent
interests Of any kind, we must admit OF fair
competition JOHN H. STEEL.
Council Chamber, Nov. 20, lSi4.'