Weekly national intelligencer. [volume] (Washington [D.C.]) 1841-1869, 1845-10-11
NATIONAL INTELLIGENCER.
THE TARIFF; IT'S INFLUENCES UPON THE
PRICES OF DOMESTIC PRODUCE

PRICES OF DOMESIlC PRODUCE.
The following excellent article which we have
extracted from the "Lynchburg Virginian" of the
Goth ultmo, irrefutably establishes two points in
our creed of political economy, that we are willing
to rest the cause of the Tariff SO far as those two
points may be at issue, upon the arguments and the
facts which il adduces. We have long wondered Al
the obstinacy with which the opposite opinions are
maintained and advocated by some persons and we
are curious to see what rejoinder can and will be
made to the arguments which we now present TO
our readers. The two points now insisted upon
are, that the prices of domestic produce do not de-
pend upon the rate of duties levied by tariff, and
that they do depend almost entirely upon the rea-
tons between the supply of an article and the de-
mand for it.
We have every confidence that our Lynchburg
friend will discuss the question of the comparative
value the home and foreign markets in reference to
domestic produce with great cearness and ability
and we shall be glad to submit his observations to
our readers when they come to hand:
Of all the fancu arguments of the opponents of pro-
tective tariff there is not perhaps, Mr. McDufhes
bale theory not excepted, which is untenabc
and which is decisivey efuted by facts than that
comparatively modern invention, which assumes, many
words that when duties high the prices of tobacco,
cotton hou and other products Of the soil low and
psa, when duties low that the prices high If
TINS assumption true, nothing would be easy than
to demonstrate it, Being false, it is difficult
show its faacy may happen indeed, has heretofore
DONE that high duties and low prices may be
events but does therefore follow that the one is the
consequences Of the other any than that any other
coincdent things which have connexJ with each other
because they happen the instant stand each other
in the relation of parent and offspring IT. indeed this were
the fact the results would be uniform and unvaryng as n
all other Of and effect 1t only necessary there
FORE TO show that both prices and duties have been high at the
same time and low the tme-nay that prices have
been highest when duties highest and lowest when they
were lowest to satisfy all unpreudced minds that this theory
like every other which the antar party have various
times relied upon msead the public Judgment is as unsub
sanial the baseless fabric of vision In doing this we
need not fatigue the readers attention with very elaborate
statements We shall ourselves with few facts, all
cfDhich obtain from The ry highest Locooco ouhorify
using the very weapon with which they have furnished us 10
crack their own sconcess
lew days referred to the prices of -four several
different periods and should again do so now but
that we wish to them in connection with the prices of to-
bacco and cotton We hope therefore, excused for the
repetition
In 1871, when the duties low, the price Of -four
In 1874, when they were high, the price was. G7
In 1929, when the duties at the highest NOTCH it
In I641, when they a the lowest point S 10
In 1887, when they higher than in ls4l. - 9 30
So much for -four Now let look at the prices Of The
great staple Of virgnia-,obacco:
In 1921, low duties, the average price per hogshead
ACKNOWLEDGEMENTS. Ss4 90
In 1923, without any change in the duties was 62 90
Why this sudden fall. while the duties remained the
same, if the tariff controls the value But that it
does not do so, is still conclusivey shown by
the fact, that in 1885, aaer the duties had been
considerably raised by the tariff Of 1924, which is
said by some to have been the first protective tariff
tobacco in despite Of that increase Of duties sc
Again In 1928, before the celebrated tariff Of that
year passed, and the duties therefore remained as
they were in 1926, tobacco fell ......... 81 OO
Is not this satisfactory II not let down to later
period:
In 1889 tobacco went up to the high price per hogs
head OF. --.....-.........,... ...........ll2 90
But in ls40 when the duties still lower fell to SO 90
And in ls42 when they at the lowest point it
Tel sll further 10 81 90
How happens il if prices high duties are low, that
thus prices and duties coming down together low
duties beget high prices for produce the effect would
been increase the price of tobacco in 1910 and 1912
but instead Of that behold dminuton in value amount
in 1910 sas and in 1912 s5 per hogshead or in the
for this Hucuaon, however, and we think il
very apparent upon the surface what that cause is The yaue
Of tobacco in 1889, when extraordinary price Of
STA per hoghead produced by the short rop Of 1898
the export Of that article falling from an average Of 100 900
hogheads the three preceding years only 00O exhibit
ing deficiency Of 81 900 bogshead usual supply for
foreign consumption but in 1910 the amount exported ran
up hogsheads and in s4 the enormous ouan
hy Of l5s,7l0 hogsheads Cutting the European markets
and causing rapid decline, necessary consequence in
those and afterwards Another cause which has con-
tbuted materially the decline in the value of the tobacco
exported ought be lost sight We refer to the we'll
known TACT that Tor few years past the manufacture Of
this article has greatly increased and that the highest priced
tobaccos instead Of formerly being bought up for foreign
supply, are now worked up in factories furnishing
home market vastly more beneficial to the planter than any
has found abroad.
Let US now glance at the prices several periods Of the
great Southern staple cotton, the cutivators Of which are
naturally more opposed to the tariff than the producers Of
wheat and tobacco, since they find ready access TO foreign
markets when breadufs altogether excluded and when
tobacco finds itself burdened with the most exorbitant duty
ever imposed by one nation upon the products of another
10 1921, when the duties were low, under what is
SAID by the anti-tariffies 10 have been revenue
tar The price Of cotton per pound was. g cents.
IN 1870, on the other hand, the year after the first
protective tariff, according to the authority
was imposed, il rose If in defiance Of this won
ueory, TO-. 30 cents.
In loIf, The duties remaining unchanged, it most
~ sep n 70 only ......................l0 cents.
Dut u these freaks I've remarkable. s,il more 10 he