Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1845-12-19
TERMS % - i. advance.


sa'on' 70 a'sueo haI tne duty is not paid
by the foreign producer, but by The cons,-
mer; and tina. the duty constitutes as nuce
part of the price as the cost of produc.
ton. 5"lit,se sou
If it be true that when duty of forty
per cent. is imposed by our tariff, the for
eign producer FIRST deducts the duty from
she previous price on the sale TO our mer-
chant, it must be equally true with duty
of one hundred per cent. which Is exactly
equal TO the previous price, and, when de-
Quoted. would reduce the price 10 nothing.
The occasional fall in price Of some arti-
cles after tariff, is no proofihat this was the
effect of The tariff; because, from improved
machinery, diminished prices of The raw
material, or other causes, prices may fall
even after tariff, but they would in such
cases have fallen much more but for the
tariff. The truest comparison is between
the present price of the same article at
home and abroad; and 10 the extent tina, the
price is lower in the foreign market than in
our own, the duty, ifequal to that difference
must TO that extent enhance the price, and
in the same ratio with the lower duty
The difference in the price at home and
abroad is generally about equal to the diff
ference in the cost of production, and pre-
sents. in series Of years, the surest mea-
sure of the effect of the duty-.he enhance
ment in price being equal to that difference
if the duty be higher than that difference
or equal to it, or if the duty be lower, then
the enhancement is equal TO the duty; and
if the article is produced, like cotton, more
cheaply here than abroad, the duty is in
operative.
Legislation for classes is against the doc
trine of equal rights, and repugnant TO The
spirit of our free institutions, and, it is APP
pretended by many, may become but ano-
Their form for privileged orders, under the
name of protection, instead Of privilege
indicated here not by rank or title. but by
Iprofts and dividends, extracted from the
many, by taxes upon them, for the benefit
of the few. No prejudice is felt by the
Secretary of the Treasury against manu-
facturers. His opposition is to the protec-
tive system, and not to classes or individ-
uals. Under revenue duties, it is believed,
they would still receive reasonable pro-
6t-equa TO that realized by those engaged
: in other pursuits; and i, is thought they
should desire no more, at least through the
: agency Of governmental power. Equal
, rights and profits, so far as laws are made,
J best conform to the principles upon which
the constitution was founded, and with an
: undertaking regard to which all its func-
lions should be xercised-looking to the
! whole country, and not 10 classes or Sec
; lions.
| The Secretary answers the argument Of
r the countervailing effect of our own, upon
!. foreign tariffs. Soil, Climate. and other eau
ses, vary very much, in different countries,
: the pursuits which are most profitable in
: each; and the prosperity of all of them will
e be best promoted by leaving them, unre-
e stricted by Legislation, TO exchange with
] each other those fabrics and products which
e they severally raise most eheaply. This
r is clearly illustrated by the perfect free
trade which exists among all the States Of
J. the Union, and by the acknowledged fact
d that any one Of these States would be in
! jured by imposing duties upon the pro-
y duets of the others. 1t is generally con-
d eeded that reciprocal free trade among ma
+ tons would best advance ,le interest of
At all. But it is commended that we must meet
!, the tariffs of other nations by countervaIl-
y ing restrictions. He proceeds 10 shew,
J, that the manufacturers who urge this argu-
}, ment are not the party injured by these
IS tariffs, but the great interests OF agricul-
= ture, commerce, and navigation; and that,
v injured as these interests may be by for
d eign tariffs. they ask no countervailing ia
- riffs at home TO increase the injury.
y By coun,ervailing restrictions, he con-
r. tends. we injure our own fellow-ci.izens
n much more than the foreign nation at whom
re we purpose to aim their force; and, in the
r. conflict of opposing tariffs, we sacrifice
ID our own commerce, agriculture, and navi-
,e CATION. Let our commerce be as free as
in our political institutions. Let us, with
" revenue duties only, open our ports 10 ALI
,a The world, and nation after nation will soon
:. follow our example. If we reduce our
l. tariff, the party opposed to the corn laws
t. of England would soon prevail and admit
,e all our agricultural product at all times free
e. ly into her ports, in exchange for her ex-
e. ports. And if England would now repeal
We her duties upon our wheat. flour, Indian
es corn, and other agricultural products. our
~ own restrictive system would certainly be
= doomed TO overthrow. ss&sf.
ST A long argumen. follows. shelving the
~ i'll effects Of high tariff upon our agricul-
:, tural interests. the benefits of reciprocity,