Holly Springs gazette., 1845-05-31


fashion.
In a late Speech made by Gen Tallmadge,
he stated we have three times tried Free
Trade. and each time have reduced the
country nearly 10 ruin. and yet our oppo-
nents are not satisfied The first time was
after the Revolution, and its evils we're per-
haps serviceable then, as they contributed to
the formation of the present ConssitutIon.-
The second time was aftef the war OF 1917,
and Matthew Carer nforms US that the
r:ice of flabor was reduced 10 ihlrty cents
dav The third exreriment was at the ex-
niration OF che Compromise Act, and then
rpro,dnred the difficulties under which we
have suffered. Contrast this position of
IS41 with our present plethora of success
in 1874. and we think that the advocates Of
Free Trade should blush at their persever-
---A il, error. Tsllmadge then read from
the work OF John Gee, published by au
thorlty for the benefit of the Lords OF the
Treasury Of England. and never put into
general circulation The only copy of which
IN the United States isin his possession the
following extract:
"To take the right way of Judging OF
the Increase or decrease of the riches of the
Nation by the trade we drive with foreign
ers, is to examine whether we receive mon.
ey from them, or send them ours for if we
export more goods than we receive, it Is
most certain that we shall have a balance
brought to US in gold and silver, and the
mint will be az work to coin that gold and
silver. But if we import more than we ex.
port, then it is as certain that the balance
must be paid by gold and silver sent to them
to discharge that debt. | am afraid the
present commerce of ours carries out more
riches than it brings home. When as for.
merIy great quantities of bullion were
brought into this country by the Balance of
Trade, and coined into money; the tables
are turned, and as fast as we import bullion.
it is sent away to pay our debts. We send
our money to foreign nations, and by en-
pIoying their poor instead of our own, ena-
ble them to thrust US out of our foreign
trade: and by imposing high duties on our
manufactures, so to clog the importation of
them, that it amounts to prohibit on"
This argument has proved prophecy in
relation to our country.
From the year 1886 to 1840, inclusive,
the average amount OF coinage al the United
STATES Mint was little over S3 100000; in
IS4I. the last year of the odious Compro-
mise Bill, it sank to 81, SOC 900; in 1912 II
will be recolIec.ed that the present Tariff
was active for few months only. The
coinage rose toover 81 100000. In lS43
the first entire Tariff year it VAS increased
to within $4,000 of Sl2, 100000, and in
the present year, the increase will be
fexsx5e! *sa issss mach sEeater.-~The retention
OF real wealth by the increase ia cur man
ufactured products is here clearly i!lustra-
ted and the present plenitude of Capital is
TO be attributed to this larger coinage by
our Government.
England legislates for herself and so
she should she endeayors TO make us bel
ieve she legislates tor the world-ln this
she fails. as proof of the estimate In
which she holds the responsibility OF manu-
featuring communities. it IS only necessary
to state, that while the loan required by
Massachusetts for the completion of her
Western Railroad, was speedily taken, all
at low rates.. by English capitalists, the
bonds of our General Government lay slug
qishly on the market for want of purcha-
sers. The single States of Massachusetts
alone creates larger amount of manufac>
lures per annum than the value of the
whole cotton crop of the six cotton-grow'
ing States. In 1910, just previous to the
prostration of manufactures by the ciosin 6
year of the compromise Act, her manufac.
lures produced 100000, 900. In lo4l IL
was comparatively nothing. In 1874 il
will swell to- an amount far beyond the
hopes Of the.most sanguine. 1t will be re-
collected thai this State is nearly sterile
barren waste, end with the exception of o
small section of country in the immediate
vicinity of Boston, totally inadequate te
the production of her own agricultural sup
plies. She.therefore becomes the custo
mer of New York and the Far West. and
as her consumption increases with the
progress of her manufactures she's supplies
that which foreign policy denies us-a
market for our agricultural products.
But a few years since, the merchants o
Salem petitioned Congress not 10 protect
the cotton Manufactures for said they we
send eleven ships per annum to the Eas
fadies. with two hundred thousand Spanish
dollars each ard bring home fnAsats III lnslin:
which we sell at>25 cents per yard. while
the home manufacturer can not manufac
ture them at less than thirty cents per yard
Congress did not listen 10 this speciou:
reasoning, bat protected the manufacturers rs
and what is the consequence By the ct
feet OF home competition alone S2oo,oo1
will now build cotton factory at Salem
and create cargo oethe same quaiity o.
goods, which are put on board at SIX cents
per ward and exported to Canton, the very
place we formerly imported i1om' ane
sold at a lower price than they can there u
manufactured. Let us now examine VIVA
= L. r IL. C,le,,, ru8nufacfuflnE