Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1844-12-03
HIGH DUTIES.

We re-pubish to-day the excellent views OF
Governor Steel in his message 10 The n. Hamp-
shire Legislature, because We have been inform
cd by an intelligent friend, and see il stated in
some OF The Northern papers, that Governor
Steel himself has been long engaged in the ma
nulaclurinG business, and IS One 0f Hs largest ma
wjactHrerS in New Hampshire Coming from
such source, they are cminenily entitled TO pub
lie attention. We learn. That most OF the indivi-
dual manufacturers of New England DO not ask
for high duties They contend that il is not only
letter for the Country, bot for themselves, that the
duties should be reasonable and aable-and all
this is provided by the Compromise act The
same view was taken bv a distinguished Geor-
gian. with whom we convcrsed last Summer, and
who is largely interested in manufactures
This dividend amounted 10 20 per cent. Being
appealed 10 by an agent, TO support the Tariff OF
1872, BECAUSE his mandatory would thereby in
crease in value, he honorably ami wisely declined
the proposition, alledgng that lie profits were al
ready loo high and it was not just TO The people,
nor, in tie end, beneficial 10 the manufacturers
10 continue an ovcrSrown projections"
"Nol many wears since il was confidently said
that. without National Bank, the currency
w0ud be ruined, andeSchangeS from ore section
OF the country 10 another would I've dSaStTousv
disorde;ed iinot rendered mpos>he, oi being CT
ttcied at all. Time has proved these confident
predictions 10 be wholly untounded. A sound and
wholesome trade has effected that which the
United States Bank failed to do, and has gone far
towards convincing every one open 10 conviction
that trade left TO itself will regulate lis own con-
Germs much better than any artificial power can
do il. Such also will be the fate of the present
Tariff predictions. The Tariff, left as il now
stands mH roTk tic destruction of tic interests a.
roircd IN 1fs in,m0deruie pr0feGtirc claGSCs. Pro-
tective duties have the effect Of enhancing H.
prt>c NJ Me articles p0ictted, and in proportion 10
the rise of prices will be the profits made by the
producer or manufacturer. If those profits are
large, the inducement to capitalists is greater TO
extend such profitable business: and this is often
done so hastily that prudence is lost sight oil. 4
rush tokeS place. Ire business IS 0rerdoac, md Hc
home marktt 0rers'0c!cd.
ITO remedy the evil a foreign market may be
resorted 10; but this canno, be done except a, a
sacrifice ruinous alike 10 Tie business OF the ma
nu!acurer and all other Interests necessarily con-
necied herewith That ,rc ar fast opwoaching a
crisis, cannot dcuN. Manufacturing establish
ments are being erected or enlarged with such
haste, that time is not given for the damp walls
OF the building, or the paint on the machinery, 10
dry. Machines OF all kinds, new and old. are ca
oerY sought after, and as eagerly sci in motion.
The late land specnlallons were scarcely con-
ducred with less deliberation or judgment than
are the erection OF mills or purchase oil stock in
mills already buill. 1.-THE concern can show The
large dividends. no matter how made. no matter
what the construction or durability of the build
ings or machinery may be, they are rarely, il
ever, examined or inquired aiter-present gains
alone control the decision OF the purchaser. The
resnll * inevitable; protective duties cannot save
interests thus situated from a revulsion which
must, sooner or later, bear heavily on the opera
tiveS, and force them either 10 add 10 their AREA
dy burden>omc hours of labor, or submit 10
large reduction of wages: perhaps both. Such
has ever been and will be the result Of all hot-bcd
systems If rc irish 10 iacc rholesonsc and PR
F""enf '"oteMS ., uoy aa.l, m n.uM asi,nil Of a
ffir competifioa."
To what extremes would things have run if
MIR Clay had been clec,cd i'.o,nr:oc ...o..I.
have sprung up like mushrooms The artificial
excitement of the hot-bed would have been indie
finelv multiplied under the auspices OF the Au-
thor OF tic system.