Sentinel of the valley. [volume] (Woodstock, Va) 1841-1848, 1844-03-21


quers BY rapiae and plunder and ma
tons would sinke (!lke the Roman EN-
.pire) under The weight DC their own cor.
ruptlons. But, SIR, think can relieve
the Senate from all appreheasionof these
terrible disasters. bv exposing the fallacY
Of this new theory Of taxation. And tn
Senator from Maine has. himself. FUR
nished me with the means Of dong it,
For, BY. another of those strsnse eonci-
dences for which his speech is reanaisha-
bic. Immediately after stating that a tlu-
ty imposed upon imported cotton manu-
facinres would reduce the price in Eng
land and throw he burden upon The for
eisn producers. he held up compendi-
um of British statistics, showing that the
whole amount Of cotton manufactures
annually made ia that kingdom was, ia
value, $3.50, 000,000 Of which only
SI0,o00.000 are exported to the United
States, while the remaining $3.50, Geo
COO are consumed In Great Britain and
cher foreign countries. Now, is it nots
apparent that the price of cotton manux
features in Great Britain is regulated
and fixed b3 the aggregate demand OF
the whole world, including the home de-
mand, and that the. miserable bagatele
of $40, 0ao0,C0O, exported to this couu-
try, could not reduce the price in that
country more than one or two per celR.
if it were entirely cut off Sir. thvre
never was more baseIessl vision tim
this theory Of the Senator from Maine;
and | thank God that nations do not pos
sess this power Of mutual taxation. If
they did. 1t would speedily end in the u ter
destruction Of all foreign commerce.
and afealIul retrograde il the marcfof
civilization I being obvious, then, that
the burden cf taxes imposed b. this nov
ernmentnus fall upon our own people.
let US tiace the operation Of an import
duty through its several transitions. and
see where 1t ultimately rests. It's paid
in. the first instance by the importing
merchant: but as he is free to importer
not, as his interest dictates, he would ~
stantly cease to import if he could not
indemnify himself for the duty he pays
by corresponding increase in the price
OF the articles on which it's paid. Af.
ter resting upon him for time, the du-
ty advanced, with its accumulated inter-
est. are transferred 70 tie retail mereh
ant, who in Ike manner transfers them
to the customer. or domestic purchaser.
where they finally rest Now, sir. care
not whether you consider the consumer
or the domestic producer as bearing The
burden OF protective duties. In either
case The result is substantially The same.
The class of imports upun which these
duties are imposed. are exclusively paid
for by tie productions Of the exporting
states; and must, therefore, be regarded
as the annual income or those states. -
And although they do not cnns.inle the
whole Of these precise imports, they con
sumo an aggregate amount Of imports
and protected manufactures equally en-
HANGED in price BY the import duties.
considerably larger than the whole am
cunt Of these inn ports. For besides our
exports, we sell to the manufacturers
cotton to the annual amount of eight Or
ten millions Of dollars, FOR which they
nay us almost exclusively in projected
manufactures.
But the Senator asks, with apparent
anxiety. if you add SAC. 900. GOO to the
annual amount Of the imports obtained
for yonr exports. where are you to find
consumers2 Now, let me tell him that
I be need give himself no concern on this
subject. There never was a people who
had the means Of paying for any amount
of mports, however large consisting Of
every variety Of commodities which adj
ministerto the wants and comforts Of all
classes-who could not find a way to
consume them. The people Of the ex-
porting states are the natural consumers
of she whole of those manufactures re.
sceiyed iff exchange for their exports, pre-
|scisely for a reason so. oftcnaliuded TO by
1.-The Senator; and that IS; that they have
the means Of pavlng Tor them. How of
ten has he said, give the people the
means Of consuming foreign imports
admitting that the power Of consumption
was limited only by the means. Now.
sir. the people Of the exporting states
while they. disdain to ask this government
10 eavs them the means Of consuming Tor
eign imports. or anything else, have q
risht to demand, aud they do demand,
that you permit them to enjoy the fruits
of Their own honest industry, and release
them from that infamous system Of legis-
latiye plumber. BY which their means Of
consumption are unrishteously taken
from them, and transferred TO the people
~ more favored regions. And tell the
Senator from Maine that tEey can not
only consume the whole Of those imports
which ase purchased by the productions
IF their industry, but that they can do 50
with the proud consciousness that what
they consume is emphatically their own,
derived from no unjust and iniquitous
monopoly. but from the blessing Of God
upon their own lawful industry.
But. sir, reduction Of go per cent.
Of the duties on imports OF cotton man