The New era. [volume] ([Portsmouth, Va.]) 1845-1847, 1845-12-19

in the United States at $50 tom and also that
It cannot be imported into this country for less
than that sum, not Including the duty, in conse.
quence of the great increase of the price of rail.
road iron in England within the last few months
from the great demand for the article for making
rosdsrhere. Under such circumstances the only
effect of the repeal of the duty would he To pre-
vent our own manufacturers from greatly raising
the price in consequence of the monopoly of the
whole market.
approach subject still more delicate, in con.
nec,ion with the policy. have shown that we
already produce OF the leading articles of food and
raiment and others of considerable importance,
more than can be consumed within our own linn
lis, including other portions of the Union, and
that we must depend upon the rest of the world
for market for the suplus. have also shown
that 10 these, in short time, will be added the
important articles of sugar, hemp and wool,
and that to obtain fair remunerating prices, it is
indispensable that the market shall increase with
the increasing development of our resources, on
the great principle that price is regulated by the
relation between supply and demand.
Without an increase of the market equal to the
increase of supplies prices will fail till they cease
to be remunerating, which will effectually put
stop tn a farther development of our resources.-
But 1t ia clear that on free exchange of pro.
duets with the rest of the world depends our
capacity for commanding its market, and that
every barrier interposed in the shape of tax or
duties mnst necessarily limit its market for our
products To the SEINE extent.
The position being admitted. it is to be hoped
that all will concur, whatever may be the diver
sty of opinion respecting the Tariff, that no duty
shall be imposed which is not necessary, accord
ing TO the respective views of each, Of the policy
which the Government ought to adopt. | am
of the impression that the existing Tariff throws
many impedimenis in the way of our exchange
with the rest of the world, which. even upon
the principle of protection, might be dispensed
with.
There remains one other topic of deep interest
10 all the lower sections of this magnificent val
ley refer to the reclamation of your lands sub
ject to annual inundaton by a system of Levee-
ing. They comprehend large and most valua
BILE portion of the whole region, and capable
at sustaining population greater than any pUr-
ton of the Globe of the same extent. A large
portion is held by the Federal Government, and
doubt not that it ought 10 contribute TO eveeing
them, in proportion TO its interests, terminate
its proprietorshp, soon as il be done, in
favor of the States in whose limits they lie, as
TO leave it to the respecives States and the indl
vidual owners TO construct the levees. There
will be great difficulty in the former in fixing the
proportion which the Federal Government and
individuals ought to contribute and am of the
impression il would be the most advisable every
way for the Federal Government to take mea-
snres 10 terminate its proprietorship at an early
period | am of opinion that it ought IL cease It's
proprletorship in land early as it can be prac
tically effected, in all States, except what
may be necessary for Forts, Arsenas, Magazines,
Navy Yards, and other buildings. Under this
Impression introduced bill some years since for
the purpose of effectlng this object, which among
other things provided that the public lands which
had been offered for sale without being entered
within fixed period, should be gradually reduc-
ed from one dollar and quarter to one dollar
and then 10 seventy five, and then TO fifty, and
lastly to twenty five cents. and all that was not
sold within short period at twenty FIVE cents to
be surrendered to the States in which they were
situated.
have now given you my views briefly, as
to the resources of the South and West; how
they could be best developed and how far the
aid OF the General Government might be invoked
20 assist in their development And now let me
add, IN conclusion you occupy region possessing
advantages above all others on the Globe of the
same extent, not only for It's fertility, its dversi-
~ of climate and production hut in its geograph-
lcal position; lying midway between the Pacific
and Atlantic Oceans, in less than one generation,
should the Union continue, and | hope it NAV be
perpetual, you will be engaged in deliberations
to extend your cOnnexlon with the Pacific, as you
now are with the Atlantic and will ultimately be
almost as intimately connected with the one as
the other. In the end you will command the
commerce of both, and this great valley become
the centre of the commerce of the world, as well
as that of our great Union, if we shall preserve
liberty and free popular institutions. We are
about to give the first great impulse, and you will,
gentlemen, trust, set an example of moderation
harmony and unanimity, which will be follow
ed hereafter. May the results of your delibera
tlons be such to accomplish not only the objects
for which you have convened, but to strengthen
the bonds of our Union and TO render us the
greatest and most prosperous community the
world ever beheld