The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1846-11-06

q 80 fsAN 0AAAN t-Ahf NAe AaA'" " - D
purchase land in the neighborhood a, hty, /
ard could not &c, It. TINS was the effec,
OF giving the farmers market. Mauulac.
turing esiabl shnen,s multiplied the value
q, farms IN their vicinity often ten, twenty,
sul sometimes mineral lands, an hundred
fold. And what was lts effect upon labor
u il not increase the ptice oil labor -
" hat raised prices, bat an increased de.
maud Nha; depressed prices but the de.
sltucuon OF employment ? The protective
policy, By increasing the number of manu-.
ufactuung Establishments, Of course inctess.
ed the number OF persons employs ed in them,
thereby creating a greater demand and
higher wages Tor labor. Laboters Of ali
descriptions ilock 10 the lurnaces-coal Dig.
gers, choppers, Transfers, ard thousand
others. Now, suppose the gentleman should
quit his agitation, make no more appeals 10
party, aud no more ant, tariff speeches,
what would be the effect Would no, 9th.
ers go TO building up new establishments
And would not TIA, luInlsh rev markets Tor
farmers, and employment for labor OF ell
sortsl The Mount Savage works employ.
ed IN various ways, on he ground and 10
the neighborhood, four or five thousand
men. Let three or four more such estab.
lishments 20 up in The vicinity, and you
would have al once demand for three or
four times as mauy hands, aud for all scrts
Of agricultural produce IL The same proper.
ton. How, then, could gentleman assert
~that the protective policy favored invested
capital and was oppressive TO labor aud
agriculture
Nr. Holmes, Of S. C., lul question 10
by taxing the South Tor the benei, Of New
England
The gentleman asked whether all this
benei! did not grow out OF d tax upon the
South Mr.. S. would answer The gentle.
man; If these factories were built b Gov
ernmen,, then this might, &c some extent, be
true. But they were bull, not b. Govern.
meui, but by Individual entefpriza; and what
sor, Of lax vas i, upon the South 10 give
them better goods for one fourth the price
they formerly PAID NJ. 5. SAID he vas
very sorry that his excellent friend from
South Carolina should feel such deep regre,
al the prosperity Of New England. II he
thought that New England vas getting rich
by manufactures, he would advise him 10 20
home and do lIkewise-lo loI.o8 her ex
ample, and grow rich also. ] he genlemln
saId that the planters of the South we're
working the whole year for prof! Of four
or FIVE per cent, while be manufacturers Of
New England were getting forty or fits.
THIS was great error-bul, If true, was
i not free country WAC gave New
England exclusive privileges Why did
not The South engage III the same forty or
MY per cent. business, instead OF working
ca al tour or FIVE Way did no, .h3y CON.
msnce With coarse fabrics, made from their
own cotton, Just as New EaaIand had done
before them But New t gland was nov
passing rom that stage, and gong la,o he
higher and finer branches. The Souh, ne
was glad to learn, we're nos commencing,
True, they we're yet ia the A Of the
business; they we're in their infancy; they
wanted he fostering care and protection Of
Goyernmen' The lar!f' on tue coarse lab.
rics wal now Tor their ben-df. New En-.
gland wanted Il 90 longer on The coarse,
but only on the higher aud fac fabrics, 10
which they were now Struggling with Tor.
eigAeTs, Who were eudeayofng 10 break
them down by flooding cur markets with
these articles al an under value, hoping 10
Indemnify themselves Tor temporary losses
BY future e1ofb.lan! prices, ex,orled from
Us when American Competition Is Put down
aud destroyed.
Mr.. ;, SAID he had been greatly amused
by listening 10 the ingenious but s1phisllcal
reasoning gentemeawho had gone tnloex.
tended calculations to prove thai co,louman.
uiacilfets we're now realizing loo per cent,
clearproHs annually - IS, exactly 100 aer
cent. he! the fact was notofIyus-seen 10
tae all the eastern Papefs-;hal tie stocks
O. those very manufacturing establishments
were selling every day, on change, often
be'o" par. Would men feaiiz ~ 100 per
CEN. sell their stock under par or would .
other capitalists suffer II 10 be thus sold .
Besid9s, II these calculations &c gentlemen
To correct, do they not see, al glance,
that all the capital 0. the country, Tor CAP
I!al g quick and c!ear.sIghted would rusl
al once llto tbs Zoe pet cent. business
caPiialffom England, and all Europe, would
soon be into Il, and what then The bus.
nets would soon BE- ogcfdoae-aud then
what! Il would become the very wor.,
business 10 the world. Gentlemen mus. be
very credllous themselves, OF think others
80, 70 iudulge 10 such sbsufdlles. Bus.
ness was like pendu.um--H you give It
strong impulse n one direction, the reac.
't3a Vas sure to carry il as lar 10 the opyo.
stte direction. II any branch of business,
BY protection or otherwise, become h,ghly
profitable, tue rush Of capital la.o it wou,d
soon 6uog Il down 10 gae very lowest rates
oI profit.
GEN WO&TH'S MODE OF ATTACK
az