Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1846-01-27

empty the Secretary making hrs estimates Of income
for ls<9. and preparing ask Congress for large hatch
OF Treasury Notes perhaps the deEcit large that
loan may be required. Ne have point
Of depr ssou in the great business OF country which
has arseted the attention and anxiety of all Glasses Of
people, all having felt is blight. excepting the great CAPT
tsisu and money holders. who roaping golden hsr
by the purchase OF property which the Of the
unfortunate throw into the market ruinous rates Is
and felt from the low wage. Of labor. and the
number of persons unemployed with the cries OF dis
from all quarters that the labor and the CAPT
tai OF the county that suffers by violent rrvucrs caused
by unwise legislation. Have the people Of the South and
WEST forgotten their troubles 1887 1892 the hour
Of passage OF that Law which has redeemed the credit
OF the Government aud restored prosperity the counyl
have ntmsted that there less capital in the States
than in many OF the old ~ be denied that
the monied capital Of this country is held the Northern
and Eastern States and that the South and wes, are
usually largely indie bed TO them Now, should be clad
to be informed what benefit be derived by Planter
Alabama Mississippi or farmer in Ohio or Illinois,
by change like that have described particularly If BY
chance he should be IN deb' Do the people the South
believe they the price OF Cotton be able
negotiate loans, prosecute the OF their
tempated Rail Rosd1 Do Ohio. Louisiana, Illinois, Mi
chsan, believe they better market for their
produce complete the Hsrbors much desired
the shores OF those finland Seas" and be able neso
tate Loans and obtain subscribers TO the Stock Of their
intended Rail Roads, BY the adoption of this
OF political economy And what say the great
OF New York and Pennsylvania proposed expert
menil Can they afford try 1t. and they resdyf il
they it will be adopted; IT they not the present
Law will stand, and the Country will repoe for awhile in
happiness and prosperity. Any would suppose. that
those States that just emerging from embarsss
men which time seemed almost sufficient
whem them in ruin, would be unwilling try expert
ment which is certain in judgment place them in
position that will be the Of destroying fair pros
poets Of thousands who resting 10 quiet security upon
the faith OF wba, they deem pa'ena and wise Government
The question of important alteration Revenue
Laws, should be kept suspense The Treasury will
feel effects before the end OF the present year The
pectation of great reduction of duties prevents the Mer.
chants from going with their usual business. Voyages
delay ed and orders goods held back until this
important question shall be settled. say, therefore, Il We
through this fiery ordeal, let once
cannot probably place ourselves in better condition
than we now, to meet the troubles that await US.
Mr. Walker proposes substitute ad valorem for tpe-
CHIC duties in opposition TO experience Of
almost every other county have yet found
American merchant who has been specific
duties, wherever 1t be done with
Importer and the Government. confess It is bold mea
propose total aud entire change OF a Revenue
system which established with the Government and
has stood the test of experience through all the trials OF
political parties and Admins from General Wash
ngton MIR. Polk Ii appears extraordinary
tme the country high state OF prosperity The
is enough for all the reasonable Of the Gov
ernmen and the people appear be satisfied thei,
condition. The OF the Country never de-
voopng rapidly the increase Of population the
present year. will probably equa! OF the last which
estimate 600 900 souls our wealth TOO has been won
deriuly augmented by the construction of Railroads
there has been great increase OF shipping engaged
IN the domestic commerce OF the country, only by
but upon rvers, and lakes: the manufacturing
has been largely extended and the soil too has
made produce vastly than Any former De
nod The whole productive power OF the country has
greater three years Ihat since the passage of
the Tar OF 49, than during any equal space OF time in
national history. There have been three penods o.
universal distress throughout land the peace OF
1888, and IN each case under low duties. appeal 10
those who remember those periods and TO others refer
the aunals OF country Those periods were from
1893 Uhe conclusion Of the Revolutionary War to l7s9
1915 to ls24 1887 10 le42.
would respectfully recommend TO the Secretary of IN.
Treasury who appears 10 have received new light uuon
the subject OF national economy examine the ho
~ OF the legislation Of Congress above periods He
will ind IN his own department OF the Government nm
abundance OF evidence OF the distress that existed under
low duties, aid dersnged currency.
There prevalent idea abroad that the capital Of IN.
country will suffer exceedingly by revuon in It's bus ness
and That the farm OF loi2 has opated favor Of the
capital and the labor Of the county There can b. no
doubt that capital y generally prohtsby and safely en-
p!oyed, aud well paid. The profits Oi capital are low
when low; but capital Ia uus had the bower
take ot Jei, and dues require the aid l Con-
place Il IN other position, Than put tue labor
Congress should leg slae for the labor and the
ca; ital wall take OF Itself. will give you an example
u the rate of wages under low duties under the Ia
nil Of 1912. In 1871 aud l542 the depression in all kinds
h.r,p
featuring establishments in New England were closed. the
Opersuve. dismissed, the Mechanical trades were still and
every resource for the lsbonng seemed dried I'D
In the City Of Lowell, where there are more Than thirty
large Cotton Mills, from SIX thousand ,pindes
each Rrayey considered by pfoproors ubetb.,
tho Mills should be stopped. II concluded 10 resyc.
tbs wsRes; ihs was done several me Until the reduction
Brought down the wages from about 81 90 to 50 per
week exclusive Of board; this operation took place upou
between and 5000 females the Mills run on no sale.
made Of the goods the South West had netbs,
money credit aud finally determined to hold an,
ul Congress should upon the Tariff. The Bill passed
and Of course the Mills kept running which would
not have been the the Act had been rejected and
now the average wages paid Ut LDwel-akny snine num-
Der Of females for the same sevce-is 50 on per week
exclusive OF board Yet Mr. Walker SAYS labor has fle,
Where the wages for abOr ask lower than they were
in 1922 Who is to be benefited by the adoption Of
that gives up everything and gives no reasonable
promise Of any thing
have suceeeded trust, in showing that there d. no
probability Of exports ssnR in consequence Of
reduction Of tbs Tariff and that produ cts Of the West
ern States find the best market among the manufacturer.
at home. In regard to the Southern and Cotton growing
States, they to be greatly be1e6od by the increase Of
consumption Of their staples hume. No spprecisb.
quantity can be shipped to England II the Tariff should be
repealed II being already free Of duty. The establishment
aud successful prose Of the spinning Of Ctin IN ia
county, hos enabled the planters obtain for several ysa
past OF least, additional per pound on the whole
crop, aud perhaps oven more. The Americans are the
greatest spinuers Of that article n the world the British
excepted This competition has kept the price from fall
ing to Tu'nous point several occasions and II has
been acknowledged by mrny Of the most intelligent plan
iers IN the South Our consumption reached the last year
one hundred aud sevony-sH millions u pounds, which Is
equal 10 the whole crop Of the Union in 1895 end equal IN