The Caledonian. [volume] (St. Johnsbury, Vt.) 1837-1867, 1846-02-28

importation of lG5 millions OF dollars Our
exports have not exceeded, nor are they like
ly at present to increase over 100; we then
have deficit of 45 millions to provide for;
and how is tins balance TO be paid? State
Stocks are no longer current in Europe. r.
ven the Stocks of the IT, $. cannot be ncgoti-
ated OH favorable terms
We who arc merchants can answer this
question, having often been obliged to make
our remittanccs in coin, when our imports
have exceeded our exports.
five are obliged 10 import 40 millions of
goods subject to duty, TO meet the wants OF
the Government, il is quite certain, that the
coin must be cXportcd,to meet the deficiency
If the importutions fall short Of l40 millions
we then hnve on empty Treasury. In one
case, the country will be made bankrupt to
fill the Treasury; and in the other, the Ireas-
uy will be bankrupt, 81 resort 70 Congress for
Treas Notes g. Loans. II may be said that our
exports will increase with cur imports; tins
supposiuon think iallacious. TIE pOlicyo
Great Britain, and that OF all Europe, hes
been, and is likely TO continue, 10 protect ev-
cry thing produced either at home or IN their
! colonies. I'm Great Brtain,the article OF Cot
ton is now admitted free, tho duty having
been repealed the very LAST year. This was
owing 10 repeated representation of the Man
chester spinners 10 Parliament as 20 the ne
ccssity of such measure, in consequence OF
the competition from foreign countries IN the
coarse fabrics manufactured from cotton. pro-
duced inland shipped irom,the United States.
! The argument presented IN tie House Of
! Commons wasthut the Americans had taken
possession ofeyery market, where they were
| admitted on the same terms, with their
coarse goods. This is a true representation,
and UpprehCnd the repeal of The duty on
Cotton will not enable the British mauutac-
sg.Vs Q fT...Hsa u4HFEn
kcts, for the heavy descriptions OF Cotton fab
RIGS. What other article Of importance does
the Government of Great Brian admit free OF
duty? / know ofnone. Cotton is admitted
free ofduty from necessity. How is il with
Tobacco? A duty is paid of 100 per cent.
Wheat is prohibited by the "SliGing Scale
and i'm case of a total repeal ofthe Corn Laws
very little Wheat would he ship C from this
country, inasmueh as it can be laid down, in
ordinary years Of harvest, mitch cheaper from
the Baltic. Bcefand Pork are burdened with
IA heavy duty. The duty and charges on u bar
rel of American Pork laid down in Liverpool,
with the commissions for sales, amount TO
SIS; so that the quantity # u is article ship
ned to England must be ncCnsiderabIe, un-
less the prices here should be so low as to be
ruuous to the farmer. ] cannot ind in the
catalogue of our strictly agricultural products
n single article that is not Murdered with n
high duty, in England, or other parts of Eu-
rope, if il comes in competition with their
own products; nor can discover ihot there Is
a disposition on the part ola single Europe
an Nation 10 relax their stringent system of
duties on imports from this county. II is pos
sible that Great Britain may abate her Corn
Laws, so far as to admit Indian Corn at a
nominal duty. lit should lie done, | Lave
little faith in our hcing able to ship it to i'd
yantge / state the fact, then, that exports
will not increase IN cons Cqucnce OF q reduc-
ton, or even total repeal Of the pr sent Tar
iii. The duty in Great hritain, on all the
products oftlIe United States, receive d in that
| kingdom, including cotton, is not less than 4S
per ceut.,and exclusive OF cotton, 300 per
cent, and this too, on raw produce senerally,
where the charge offreight constitutes from
onc-tcnth to one-quaIler ofthe cost ere, and
this is Free Trade.
| hope YOU, of Virginia, will examine this
Meter, and ask yourselves where the best
customers are TO he found for Your agricultu-
raj products will lust state 10 YOU here,
that Massachusetts takes more L lour, Indian
Corn, Pork, and many other art cles, annual
! w, the productions of the West, as well as Of
VIRGINIA, than all Europe.
The question then arises, whnt will be our
condition after the proposed plan of low du-
ties roes into operation? In 20 days after
the bill becomes n law, it will | ave reached
every country in Europe with which we have
trade: the manufactures are all set in motion
for the supplv of the American market; the
merchandise is shipped on account of for
eipners. in many cases with double invoices,
one set for the Custom House, and another
for the sales, so that instead of the duty a.
mounting TO 20 per cent, it will rot, probn-
blv exceed Is per cent. This has been the
experience ofthe American Importers in n.
IyrA l f,,f laf,,> sprrp 4
Tariff of 1912, had (rnost ofthem) abandoned
the business, not being able to comretc sue
cessfnllv with fraudulent foreigners. viii
not say that all foreigners commit frauds on
the reyenue;-tar from it; but do say, that
enormous frauds have been perperated by
foreigners, on the revenue Under ad valorem
: duties, and will be again--prostrating the
business of honest foreign and American I'M
porters In less than twelve monthSntter the
new plan shall have been in operation, tins
whole country will be literally surieited with
foreign merchandise; (ifit be not so the rev.
enue will fall short the wants OF the Gov
ernmcntl we shall then owe u debt abroadof
millions of dollars, which must be paid IN
, coin. The exchanges go up TO point that
makes it profitable to ship specie; money be-
comes scarce in the Atlantic cities; yet bills
on England and France do not fall the loans
made to the South and West are called IN
,, demand for debts due from those sections o.
country are made; exchange cannot be OBJ
taincd,-produco is purchased and shipped
and when it arrives at the North, it will not
command the cost in the West: a paralysis
win have struck the business of the country
produce will no longer answer to pay debts
dine at the North. 81 the next resort is to coin
which is to be collected and sent down the
Mississippi, or over the Mountains to Balti-
: more, Philadelphia, New York and Boston
Western and Southern credits are cut off, as