, 1844-08-03

80 - 80 -
could not conceive how the Wings made
out that protective duties would increase
the price Of raw materials as wool, hemp,
Sc, increase the price Of brcal stutis,
and diminish The price Of manufactured
articles. This Mr.. \. SAID was atroG-
blcsome problem to men who had never
taken III, pains to examine the eject OF
compcti ion in trade. If it were known
that stcJy protection would be given 70
! American mechanics and manufacturers,
men would Withdraw their capital from
agriculture and invest II in manulactnr-
ing, whereby the consumers Of provi-
sious would lie increased and the produ-
GERS Of lie same diminished. The de-
mand for breadstulis and other agricul-
.itural productions being thus increased,
the price by an iuyariable law Of trade,
would BE necessarily increased. The
amount Of manufactured articles Ieco.n-
ing more plenty. More sellers being IN
tie market and necessarily fewer pUr-
chascrs. by virtue Of the samc Iaw the
price would come down. High prices
with an uncertain market, was not so
desirable 10 the manufacturer Is d stca-
dy, regular sale Of his wares, ut a low
profit. In Ills way our home comGeti-
ton reduced prices Of goods-whilc the
true tariff policy was TO increase this
competition by assessing duties on for
cign merchandise as high as could be
done without prohibition. This would
cause a double compctition-our aan
lecturers with each other, and all Of
them with foreign manufacturers.
BY this plan we should buy less for
eirn goods, keep u money at home,
have q market for the farmers produce
handy by, save the expense Of lis trans
portion thousands of miles, and ensure
Tie balance Of foreign trade 10 be in oar
favor. That such was now tie case.
since our tariff went into operation, was
proved II tie fact, that many millions Of
hard dollars had been shipped into orr
country, mere than had been carried out.
UAcrcas, We had suffered from a rcgu-
Ia7 drain Of our precious metals, for
years before this tariff went into opera
lien, and in orc year we bought Il
hundred and twenty-seycn millions Of
dollars worth from foreign countries
more than VIC sold Them.
Mr.. !. said he had repeatedly asked
AIr. Green 10 say what one measure, for
lhc intcrist Of the nation, would BE re-
commended by Mr.. Polk, ifsuch AZ i'm
probable ding as lis election shoald oc-
eur-Jut never, til to-day, had he been
answered. Now it appears that Mr..
Polk is in favor of a protective tariff.
Here, SAID he, is his letter which grriv-
ed Yesterday. Mr.. 4. read the letter
n which Mr.. Polk declared himself a
prytcciioni>t. He compared ii With il
speeches against protection while cam
wasting for Governor Of Tennessee, last
summer. Then he expressed lis hos
tility to all rrotcction-wcnt for 40 per
cent al valOrcm 11ia;;;y on all imPorts-not
excepting tea and coffee.
Now said Dir. A., to catch the votes
ofthc manufacturing States he has turn
led wing, but we shall not receive him
only as a probationcr for life.
He regretted, ike Mr.. C., his inabili.
Ity TO take up the distribution question,
but his two hours were now near spent
| lie concluded with a brirrn0'ioc Of the
{ public course Of the two candidates.
( said that Mr.. Polk had filed 10 higher
Office than representative in tie lower
house Of Congress-had been once elect
la Governor of Tennessee, then was
f@outrun by d young and inexperienced
polilician-two years afterwards, tried
il again, and was beaten worse yet; and
now, enc year alter his last defeat, had
.Ie,- .,l., nm L. H. rarly. no with lie