Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1846-07-28

these extraordinarily high duties are no' ui'y rb
teclive, but 10 a great extent pronlo'o,y. .a
a reduction Of these excessive uu'' on oan,
nue. standard-say TO maximum VI ~ ~ .,n
would greatly increase The iinPoI.d.ons, Luz
not be doubted, even by The mos1 o'so'eu az,
cate of protection. Indeed lhe e1llasasd 1SsS
high rate OF duty imposed oy Inc law ~ J., , na-
these articles thus so highly taxed. Pernaps
fair and sale measure 10 calculate what WIN pr
the increase of impouatons BY reducing the 'al'n
is 10 examine and ascertain hop h,ga lney hau -
eleuake The duties in order 10 Tes,Nt Inc Hc@'g e
Of imponalons setting in towards lhiS coun...,
for either The tariff party were ior protecting
their interests against wel-founded and reailY
heavy mporlatlons in requiring these h'sh au'ics
TO he imposed, OF else they were iaoo',hS u"u,
a deusion based upon Inaccurate ad.a' 49,
therefore, were defending themselves llolu ,'a'a
ginary and not real dangers, 50 ial do M
dreaded free and full foreign com leti.lon. -
FIRST position is correct. nv plan of measuring the
probable increase in commerce, ny iomIi.nS III
duties down 10 the simple revenue poini oy iook-
ing 10 the rate per cent. OF duty The farm men
deemed it proper 10 impose, in order 10 secure
protection, will be fully sustained. Blu! Il .ney
were MISTAKEN in estimating what consioeIaoie
portion OF commerce coming into the country
would be restricted By The prohibilory measures
they passed, then the protection sought was husa-
tory, and the commerce Of the country would oe
but slightly increased By lowering Inc eSislinS
duty imagine, however ihey were not 50 ue-
void OF their usual kecnness IN nnu'nS "D' iu'-
" and accurately whatever Wou!u plolno ~
their interest as 10 have been guilty OF the folly
OF passing high restrictive laws TO protect them
selves against nothing. So, therefore, take
it, a Protective Tariff is designed not only to en-
nance prices. but pRsT TO DIMINISH imports. upon
no other principle can account tor their anxiety
10 admit dye sluffs, which they cannot produce,
and therefore wish 10 purchase on The best terms
duty free, and their eagerness to prohibit those
foreign articles coming in competitor with those
they manufacture, than that they gel the first IN
greater quantities, and much cheaper when they
come in duty Tree; and the exclusion OF foreign
competition in the second Instance gives them The
monopoly Of The home market, and therefore BET
ter prices. In both instances they are benehed; :
by purchasing The free articles On the best terms,
in one case, and by selling their goods, IN Inc
other, for The highes price. These considerations
satisfy me thai We may safely reduce The duties
and greatly increase The commerce OF The country,
and with that The general welfare Of The Union.
In support OF this position, again have recourse
10 facts.
In arguing financial questions, il is unsafe 10
RELY upon isolated facts or detached statements;
for that reason ! have selected periods extending
through several years, and embracing in each Pc
ROD lie several material changes in our financial
policy.
The following tables, c, D, E, F, were carefully
prepared at the Treasury Department, from pub
lie documents:
AVERAGE annual import and exports from 1925
10 1893, from 1884 10 1912, and from 1914 10
1916 with increase Of second period over the
first, and the decrease Of the third as compared
with The second.