Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1844-03-15


shape Of foreign fabrics, which were soon used
and consumed, and left nothing to show for them.
IL was said that tho removal of the deposies had
caused the mischief; but though illegal and i'm
prudent, that measure only gave the shock which
disclosed The embarrassmenls Of the banks and The
country.
Had the protective system been, during that
time, in existence, money would have been
brought into the country instead of goods, and we
should have had the means for paying the debt.
In 1888 this compromise act was pissed. II pro-
yided for gradual reduction OF duties, Frustrated
domestic manufactures and filled the country with
loreign goods. 1t was the policy II encouraging
foreign labor instead OF our own that had embar.
rassed the country. We needed not the impora-
ton OF English or Scotch books TO tell us that the
production of agriculture here was TOO great.--
Out OF population OF twenty millions we had
but eight hundred thousand engaged in maOufac-
lures While the amount of produce was ncreas-
ing, and the surplus already ceased to have any
value, we now proposed TO employ foreign labor
in manufacturing for us. The foundation of the
protective policy was The employment Of our own
industry in providing US with the articles necessa-
ry Tor our consumption
vast deal of wisdom has been shed on this
world by theorists, but the best mode OF inves-
eating subject was the yankee one OF looking at
things as they notwithstanding the speculations
and theories of philosophers. To call into ope-
ration our resources aud make the most Of them,
and 10 curtail all the expenses that ure unnecessa-
~, was the principle proper for us 10 act UPON
In other words, produce as much as you can, and
expend as little as you can, aud you have q sys-
lem OF economy applicable to individuals umd to
nations The first thing, then, to be done is to
distribute labor so as TO give II as much effect as
possible. BY dlveting from agriculture por-
ton of labUr 10 manufacturers we preyenI over
production in agriculture, and make iQr ourselves
articles that must otherwise purchase .trom
abroad. This would he the proper system fpf-
individuals, and it would apply equally we'll 10
The policy OF nations. e
lin would notice few of the objections to the
protective policy. II was said that it would de-
srroy commerce. We were asked if we would
destroy commerce? No, we had no such inten-
ton. But we designed to give it different result
10 limit OUR importation 10 theanountof ex-
portation, and to prevent the over-importation of
foreign goods and the consequent. burden of
foreign debt. Why it supposed that the
destruction Of commerce would follow the esta5
isfment Of manufactures! Tie experience of
lie world showed that nationth had nothing
oexport could have no commerce and that ever
Would he the experience ofthe world. The only
particular in which The interests Of GreQt Britain
ana this nation were conflicting was in their RI
Vplry of commerce. England prohibited the ag-
ricu|tural productions OF all countries, except so
far as starvation compelled her n admit them
Had this policy destroyed her commerce! Her
commerce rested chiefly On her manufactures
II was this resource that had given wgor and sus-
lshed without diversity of pursuits.
Suppose we were exclusively ag,iculturu',-
would the whole world supply us with market
for our surplus? liza market could not be found
abroad, there must be created market at home.
Ii you would sustain your commerce you must
protect your industry, and tina: will give the peo-
pie The means OF purchasing imports and of pro-
ducing something to send abroad. What was the
condition OF commerce when the people were
disabled from purchasing goods by poverty p
The goods were sent back again; but when in
dnstry was revived, and agriculture and COM
merce began to flourish, and they afforded re-
ward 10 labor, commerce also revived He had
witnessed The operation Of this principle in the
part of the country whence he came. When The
price OF articles produced 10y them was high, they
would indulge freely in the consumption OF for
elgn imports. The result of all investigation Of
this subject was, that if you give profitable EN-
pioyment TO industry, you will promote COM
nerce.
IT it was true that we had imported more than
we could pay for why should We not diminish
our importation: We had manufactured for our
selves The forty millions excluded by the Tariff
and diminished our expenditures 10 that extent
This result accorded with The practical doctrines
OF the people OF New England. We encouraged
industry by this system 10 the full extent of the
produce OF manufactures; tor we took the ground
TINT the products OF agriculture were carried 10
their highest profitable point. Thus the system
added TO Iis aggregate wealth ofthe country by the
amount produced 10y manufactures. The people
o! N. England who were 80 much behind the age
in political economy, had provided from manu-.
features the means of supporting cotnmerce.-
The formerly sent specie To China, but now they
sent cotton goods; and tho commerce of China
was not cut off but il is increased.
They also sent cotton goods TO South America,
and II had increased instead OF diminishing thar
trade. The argument of the Senator from South
Carolina was that, by providing new markets for
The cOusumUtIOu of DrOuucis w Ina nj
ones-a doctrine which he tAlr. ~ did not con-
cur with W hen the Senator drew CON parsol
between the English marke, and the palry home
market OF New England, it would have been we'll
had he stated their relative value. 1t was ascer-
lained that the State OF Massachusetts used as
much flour for s'arch for sizing, MS all the -four
taken from us by Great Britain. The Stale of
Massachusetts also consumed more of the western
, produce that all that was exported TO England
This flour was not sent TO England tol domestic
consumption, but II went into bond at Tue Custom
house, and was used for the commercial marine.
3 Whit was The whole amount Oft? TO England
= we sent between two aud three hundred thousand
barrels Of four
+ The aggregate amount Of wheat raised in the
t country was, according TO the late census sixty
$ four miI0s OF bushels. Mr. Ellsworth estimates
II ut the present. lime at one hundred millions of
Q bushels We had been able TO sell of this just
I ohe'h hundred part TO that great nation whose
} workshops we proposed to employ for the manu-
7 iaclure o all The arlIces we consumed. We sold
double The amount to Canada. He had been I'M
q der The Impression that flour sent TO Canada
II Was exported to England but he had ascertain
D e,i that 1t was not SO. The people oil Canada
G called Tor Protection and discriminating duties
. were imposed on the importation OF our flour into
8 Canada But our wheat was admitted and man
a ufacturcd 10y them into flour. The expectation of
4 flour to Canada had ceased. The report of the
secretary of Stale gave us The additional duties
I imposed by Great Britain on articles imported
D into Canada. lie adverted 10 these state mens 10
i show that the protective policy was growing up
in Canada; thai it had made ils way from England
to her remote dependencies.
! lie explained the character of these duties, to
show that they had the tendency TO promote the
navigation OF England. The circuilous trade,
, through Canada TO England, had been unproita-