The Evansville journal. (Evansville, Ind.) 1834-184?, 1844-07-11
NO. 81.

States, an additional supply is created
Again, another principle, universally admitt-s
ed TO be beneficial to consumption, is, the
principle of competition. If Europe alone
supply the American consumption of maui
features; Europe will enjoy a monopoly in
thatsupply. That i%nonly, it is true, will be
subject TO the competition which may exist
in Europe; but it would be still restricted to
that competition. BY the existence of man.
ufactures, in the United States, an addition
al competition is created, aud this new com
petitor enters the American market, contend
ing for it with the previous European COM
p~etiiors. The result is, an increase in The
aggregate ofsupply. and a consequent reduce
tloa in price. But it has been argued, that
the fabrics manufactured in America take
the place only ofso many which lad been
before Manufactured in Europe; that there is
no greater consumption in consequence of
the home manufacture than would exist
withoutit; and that it is immaterial TO con-
sumo whether the theatre ofmanufacture be
Europe or the United States. But I think
this is anextremly contracted and fallacious
view ofthe subject. Consumption is great
er III consequence of the existence of manu-
features at home. They create a demand
for labor, which would not exist without
them, and the employment Of labor creates
an ability to consume, which would not ex-
ist without it. How could the American
labor, employed in. manufactures, at home,
supply It's consumption of European commo-
dities, if it were deprived of that employ
ment? What means of purchase would.it
possess? 1t is in vain to point 10 Agricul-
ture; for every department oflhat is already
producing super-abundanfly. Ii cannot be
questioned that the chief cause of the re-
duced price ofCotton is the excess oil produc-
lion. The price of it would rise, ifless were
produced, by d%iverting a portion ofihe labor
employed in its cultivation to some other
branch OF industry. This new pursuit would
furnish new subjects Of exchange and those
who might embark in it, as well as those
who would continue in the growth of Cot
ton, would be both benefited by mutual ex-
changes. The day will come and it is not
distant, when the south will feel an impara-
tive necessity voluntarily 10 make such a di-
version of a portion OF itslabor. Consider
ing the vast wafer power, and other facilities
of manufacturing, now wasting and unem-
ployed, at the South, and its possession, at
home, ofth choice ofthe raw material. [
believe the day will come when the Cotton
region will be the greatest manufacturing re-
gion of Cotton in the world.
The power of consuming manufactured ar.
ticles being increased, in consequence OF the
domestic establishment of manufactures by
the wages of labor which they employ, and
by the wealth which they create, there is an
%incrase also in the use and consumption of
Cotton and other mafaria1S IT, IL -
tent of that increase, the Cotton grower is
directly and positively benefited by the To-
cation of manufacturers at home instead of
abroad.
But suppose it were true that the shifting
TO a certain extent, of the theatre of manu-
features, from foreign countries TO our own,
did not increase consumption at all, and did
not augment the demand for Cotton, there
would be no Just ground of complaint with
the Cotton planter and the most he could
say is, that it would be a matter of indifer-
ence to him. All that would happen to him
would be, a substitution of a certain number
of American customers, for an equal number
of European customers. But ought it 10 be.
can it be, a matter of Indifference TO him.
whether any portion ofhis fellow-citizens in
the United States are in a state of prosperity
or adversely? If, without prejudice to him,
his own countrymen can acquire a part of
The wealth which arises out of the prosecu-
ton of manufacturing industry, instead of the
foreigner, ought he not to rejoice at it? Is
it to him a matter of no consequence that a
certain amount of wealth, created by manu-
features, shall be in.his own country, instead
of being in foreign countries? If here, its
influence and effects will be felt, directly or
indirectly, in all the departments of human
business, and in a greater or less degree in
all parts of the country. 1t becomes a clear
addition 10 the aggregate wealth of the ma
lion, increasing resources, and forming a ba-
sis Of taxation and revenue in session of war
or peace, if Unnecessary.
But the advantage resulting from domestic
manufactures, iii producing an American com
petition with the European competitions. auu-
menting the supply of manufactured articles.
and tending consequently to a reduction of pri-
ces, is not the sole advantage, great as that is
A double market is produced both in the pur-
chase of fab rfcs for consumption, and in the sale
of productions OF Agriculture. And how supe-
rioT is the home to any other market in the con-
ditions OF its proximity, its being under our own
control, and its exemption from the contingent
cy of war; 1t has been argued, however, that
we sell no more than we should do if we were
deprived OF the home market. l have shown
that to be Otherwise. The importance OF OPEN
ing new markets IS universally admitted. Its
an object of the policy of all nations. If we
could open a new market for 400, 600 bales of
Cotton with any foreign power, should we not
gladly embrace 1t! Every one owns the bene-
fit which arises out OF various markets. An
who reside in the neighborhood of large cities
or market towns, are sensible of the advantage.
1t is said that our manufactures absorb only