Arkansas intelligencer., 1844-04-20
MR.. WOODBURY'S SPEECH.

We have been favored through the poli.eness
Of the Hon. A. II. Sewer with q copy Of MIR.
Woodbury's speech on the Tariff, delivered in |
tho Senate of the United States, February 7th.
1914. .....
We regard this speech as an ablersfutat ion
Of the sophistry and specious arguments of the
advocates of the Protective policy. Mr.. W.
shows deep Investigation Of tho subject, and a
thorough knowledge of the operation of the sys-
tenn. He lives in tho "land of notions," and
il the policy was fair and operated on oil
alike, he certainly would advocate tho interests
of his constituents. We regret that our space
will not admit Of the publication Of his speech :;
but there is one portion that We cannot omit, it
treats upon and explodes an argument which is
used by the friends Of the Tariff; viz, "IAat the
increased duty rather than enhancing the price of
articles, reduces it," lilo says:
''BHt the fallacy is widely circulated, that the
| increase duty, rather than enhancing the price of
articles, reduces it, and ,chen that paradox does mol
gain full faith from its contradictions TO erperi-
| ence and common sense, yell as theoretical red.
son, IL is urged that The apparent benefciaries of
The far are not alone aggrandised by IL; but the
rhole country made more prosperous, and better
able to pay enhanced duties and prices.
Lot US scrutinize this deusion little. That
higher duties make prices lower, is, in the philoso-
ply Of the American system, the elephant on
which stands their whole globe. 1t is entirely a
discovery, not to say invention Of its supporters
Abroad, the idea is deemed prcposterous. 1t is a
matter Of course in general principles; and Adam
Smith, Ricardo, Huskisson, McCulloch, Tooke,
and many others, make their calculation that an
enhanced duty augments the price just as natur-
ally as that higher rents, or wages, or interest,
tend to make an article cost more; just as nntur-
| ally as more fuel added increases the ire-moie
| rain raises the streams.
Franklin, in this country, as wo have already
seen, says that high duties on tho importation en-
abes the manufacturer to tar the home consumer
by greater prices. He could draw lightning from
| the clouds, but he could, with all his Ingenuity
and skill, draw no other conclusion than this
from high duties. 1t may be sometimes true, as
an exception, that in gut Of the market the i'm
porter may not be able to sell at an enhanced
price, and must then sell at loss, if at all. Ev-
cry ono can see, however, that this is only tempo
rary and occasional. For a new high duty,
which, as the senator from Maine suppo ses, may
at first raise prices, and thus check saes, will, il
they afterwards fall, from the market being over.
stocked, bring them at once up again as soon Us
tho supply is less and the manufacture less, rs is
usual after such glut. This brief fall in price,
too, whenever it happens, will, for like reason,
cause corresponding fall in tho price of the ag-
ricultural production TO be exchanged for tho
manufacture, and in that case, it will require no
prophet TO forsee that such fall Injuries, in its
! consequences, rather than benefits the producer.
-."s osrou Vr orvry Uouy IN dal life contradicts
the whole position on the other side, that, as a
general principle, prices arc permanently reduced
n by higher duties; or why do persons, after high
duties, smugge! If they make tho prices here
lower, the smuggling would be the other way
Why, also, are our tables loaded with memorials
asking for drawbacks or to remit duties on railroad
iron, IT they make its price lower? Why do ma
tons ever retaliate against others by imposing
higher duties, if it makes their articles lower, and
hence more in demand for consumption? Indeed,
why do the manufacturers themselves ask for
higher duties on tho manufactured articles, il the
price is not thereby increased And why ask for
low duties, or entire freedom to tho material,
If it be not thereby made lower!
i And why oppose reduction, rs now, if that
reduction would not tend to reduce prices! What,
sir! have we not the resolution Of tho high-tariff
Legislature Of Vermont, just offered here to con.
tinuo the present high duties on wool! AND WHY
IS this, except thai, in their opinion, frankly ad-
mItted, the price of that great staple wi tn them
has been thereby enhanced! The whole miscon-
ception, beyond the Sigh. temporary exceptions
before alluded to, appeared TO arise from what
manufactured articles had fallen throughout the
world since high duties had begun to DO imposed,
in 1916. But, in the first place, fail in many
of these commenced before 1916; in the next
place, every sequence was not consequence :;
everything after an event did not happen on &C.
count of it, or we might attribute this fall to the
war OF 1872, or the great eclipse of 1906, as the
fall had occurred after both. In cases like these.
we must probe to the bottom and eviscerate the
true causes and consequences of events, and not
virtually take up the IRRATIONAL if not absurd dea
that high national taxes of any kind are a bless.
ing, any more than that great national debt is
national blessing.
1t was, on some account, perhaps, unfortunate
that this notion had not been discovered earlier,
when our fathers considered themselves SO much
Oppressed by higher tax on tea, and whom The
French so previously complained and rebelIed
against the ga6elle, or high salt tax-none of them
bong so long sighted then as to dream that the
prices were thereby reduced. But seriously, Mr..
President, if any still doubt on this subject, let
them look little into the cautious and welI-con-