Mobile register and journal. [volume] (Mobile, Ala.) 1841-1849, 1845-09-18

BALANCE OF TkADE-THE TARIFF.-In our
last Showed by the official returns, that in our
trade with all the countries of the American CONT
nen and Islands except three, the ba lance Of trade
The tariff theory, (excess of imports expors)
has been against The amount of nearly four mil
lions of dollars. We now give the promised extract
from Mr.. Webster's speech in 1924 It is but
portion of The mastery commentary this subject,
but with the remarks already submitted seems to
sufficient to open the eyes Of the most purbIind poll
tca bigot IN the country.
Mr.. Chairman: will now proceed to say few
words upon topic, but for the introduction of which
into Ibis debate, | should not have given the Com
mitiee, on this occasion, the trouble of hearing
Some days ago, believe it when set
ting the controversy between the oil merchants and
the taowchandlers, the Balance Of Trade made its
appearance debate. and must confess, sir, that
spoke Of it rather spoke 10 il, somewhat freely
and irreverenly. l believe used the hard names
which have been imputed to me; and did il simply
for the purpose of having the spectre, and driving it
b,ck To Is tomb. Certainly, sir, when called the
o.d nation on this subject nonsense, did not sup
pose that should offend any one. unless the dead
should happen to hear All the living genera
ton, took it for granted would think the term very
properly applied. In this, however, was mIsta-
ken. The dead AMI the living rise up together to
call me TO account, and must defend myself well
rs | am able.
Let lis inquire, then, sir, what is meant BY
favorable balance Of trade and what the argument is
drawn from that BY an uniavorabe balance
OF trade, understand is meant that state of things
in which importation enceeds expectation. To APP
PITY il TO our case, if the value of goods import
ed, exceed the value Of those exported, then The
balance Of trade is said to he against nasiuuch
have in debt to the amount of this difference.
Therefore, il is SAID. that, il a nation continue long
in commerce like this, il must be rendered abso-
utey bankrupt Ii is in the condition Of man that
buys more than he sells; and how such traffic
be maintained without ruin? Nov, sir, the whole
flacy of this argument consists in surprising that,
whenever the value of imports exceeds that Of
ports, debt is necessarily created 10 the extent Of
the difference whereas, ordinarily, The import is
than the result OF the export, augmented in val
ne by the labor of transportation. The excess of
imports over exports, in truth, nsualy shows the
gains the losses, of trade; or, in country that
not only buys and sells goods, but employs ships in
carrying goods also, it shows the profits OF com
mrrce, and the earnings of navigation Nothing is
mole certain Than that in the usual course of thipgs,
and taking series OF years together, the value OF
our imports ia the aggregate oil our exports and our
lreighs. II the value Of commodities, imported IN
given case, did not exceed The value 1.-THE outward
cargo, with which they were purchased, then it
would be clear to every mans common sense, that
the voyage had not been profitable. II such cOmmo-
dities fell far short in value Of the cost OF the out
ward cargo, then the voyage would be very losing
one; and yet 1t would present exactly that state Of
things, which, according the notion Of balance Of
trade. can alone indicate prosperous commerce.
On the other hand, If the return cargo were found TO
be worth much than the outward cargo, while
the merchant, having paid for the goods exported,
and all the expenses Of the voyage. finds handsome
sum yet in his hands, which he sail profit, the
balance trade is still against him, and whatever he
may think Of II, lie is in a very bad way Although
one individual, or all individuals gain, she nation
loses; while all its citizens grow rich, the country
crews poor. This is the doctrine oil the balance of
trade. A How me, SIR, 10 give an instance tending
10 show how unaccountably individuals deceive them
selves, and imagine themselves to be somewhat rap
idly mending their condition. while they ought to be
persuaded that by that nEIlible standard, the bal
ancs of trade they on the high road to rum
Some years ago, in better times than the present.
a ship left one of the towns Of New England with
10 900 specie dollars She proceeded 10 Mocha, on
The Red Sea- and there laid out these dollars in cof
fee, drugs, spices SC. With this new cargo she
p oceeded TO Europe; two thirds of It were sold in
Holland for $3.50, 900, which the ship brought back,
and placed in the same Bank, from The vaults OF
which she had taken her original outfit. The other
third was seat 10 the porls Of The Mediterranean