The daily union. [volume] (Washington [D.C.]) 1845-1857, 1845-11-27
COM M UNIC ATIO Ms.
THE TARIFF-No. I2.

| effect Of The tariff upon the cturency-Ih eoev"i-
stances under ,ohieh the present tariff ,raS passed
General reflections Conclusion.
When the respectable and erude organ OF the
wing party OF these United States, located at
Washngton-l mean the National lntelbgencer--
discourses upon British interests, and advocates
British policy, against the interests and policy of its
own country, it is perfectly at home. 1t talks
like book" on those subjects, because the hearts
and sympathies Of its editors are with and for our
ancient aenemy. But when it leaves the beaten
track of subserviency to foreign interests, and talks
earnedly Of the tariff and the balance Of trade, II
steps aside from the line Of its "daly walk and
conversation" and beirays its ignorance of the
subjects which it pretends TO discuss II is not be-
cause its editors are unable 10 comprehend such
matters, but because it may be, their treasures are
laid up" in the Golfers Of some foreign potentate
or government and where their treasures are,
there also their hearts. But the people Of the
United States understand the peculiar circum-
stances which surround the Intelligencer, and it is
therefore unnecessary longer to dwell upon them
In an editorial article in the National lniell-
gencer under date of October 6th after discoursing
learncdy on the balance of trade, the editors add:
at is quite clear, we think, that the safest and
most solid business for would be TO make our
exports exceed imports, because the balance,
whatever it may be, will come to US IN coin that ID
to say, it, in 1885, we export one hundred and fifty
Millions and import only one hundred millions, the
balance of fifty millions due us by the residue of
the world will be received in the hard which should
be welcome to the locofocos rs the wings"
understand the Intelligcncer to mean, that this
policy of exporting large amount Of commodities
more than we import Of the commodities of other
nations receiving the balance in the "hard," should
be the permanent policy of this country.
Now, let us see what would be the effect of such
a system of policy upon other nations, and upon
our own country.
The best. informed writer's upon the precious met
ais suppose that there is about ,0OO,O0O,0O0 of
gold and silver in use in the whole commercial
world. This amount is just 100 times $50 ,OO0O 600
Therefore, if the Intelligcncer's plan Of bringing
home each year balance Of S500O0,000 in gold
and silver, from other nations, were pursued as
permanent policy for one hundred years, this ma
ton cold drain The tuhoie icord Of its specie. Mo-
only would all countries be deprived Of their circu
lating medium Of gold and silver but also, Of their
paper currency as gold and silver are, and must be,
everywhere, the substra,um of paper currency.
And the result of this policy would be- the universal
bankruptcy Of nations and IF MISUNDERSTANDING IN
lis train universal distress and universal anarchy.
Such are the inevitable consequences, in respect
to all nations except own, if the notions of the
National Integcncer were to become the perma-
nent policy Of this country and if it were among
the possibilities to make totally impracticable
scheme practicable
And what would be the efectupon our own country
and people' The results would be equally diaas-
trous. The importation Of two years balances in
the "hnrd," which would be an addition of $780,
600, 600 to our currency, would upset and derange
our whole monetary system. ,rould Instantly
cause great rise in the prices Of all produc and in
spite Of The profound aud sagacious theory Of the te
gencer il ,roud, IN respect 10 all foreign countries,
turn the balance ofirade against us.
| But, before that consequence would follow, it
would stimulate speculation to an unhcard-of ex-
tent; ending in revusion, public embarrassment,
| individual bankruptcy, and widespread ruin and
distress.
| IL, however, it were possible, in the nature Of
things, that the system of the Inelligenccr could
be continued one hundred, or even no more than
| fifty years, gold would become SO plenty in this
country, that pound Of it would not, in relation to
other things, be worth much as pound Of pew
ter now is; and would buy no more wheat, cloth,
or other commodities entering into the consumption
of the country. Such are the absurd and ridiculous
consequences to which the fanciful theory of the
profound organ Of federalism in this city inevitably
| leads
| More modest and less presuming writer's po-
litical economy contend, that the trade between ma
tons must be an equal erchanse Of commodity for
commodity, labor for labor. Then, as labor is the
source Of all value, each nation enjoys the full
fruits Of the industry of its citizens, and increases its
wealth in proportion to the aggregate amount Of
the excess of its industry over the annual cost OF
| its consumption.
| II is idle to contend that one nation speculate
out of another, and, like horse jockey bring
home the balance Of its -gotten profits in
cash. No; the Great Ruler of the universe has
proclaimed, in the immuable laws of his provi-
| dence that swindling shall not exist and flourish
among nations; and that, if it were possible to
be practsed by one nation, punishment, sooner
or later in the form of national calamity and suffer-
ing, will surely overtake the nation thus offending
| He has established the laws Of trade that one
nation cannot have more than its proportion, ac-
cordng to its property and its commerce, Of the
precious metals, which he has created for the equal
benefit of all, and designed to be used as money by
all. Therefore, if one nation brings home a bal
ancc in cash from other nations in year; in the
next, if it have more than its due proportion, it
must let it 60 back.
And such is the universal law Of trade between
nations. Governments cannot control the influx
and the efflux Of the precious metals. Like the
winds Of heaven, they go whittier they list in
other words, they go wherever the wants of trade
demand their presence. And neither the edicts of
despos, the prohibitive tariffs of republics, can
prevent them from obeying this law, which is in.
stnct in the nature of things because it had its orr
gin in the Great Source Of all law, TRUTH and Justice
| But let us look moment to facts and see how