The daily union., 1846-08-29

II
number have made money a, IL, than the number
i who have lost by il. The profits of single year
| is no criterion 70 Judge by, One year may be pro-
ductye Of great profit; il may continue for ser's
Of years; but all the while the investment is becom
ng of less yaue--material is dminishing--lhe es-
tablishmenti Is wearing out-and at last, when gwen
i up Improbable the whole original investment is
/ lost. This is actual experience IN the iron busi-
ness, and is thought OF by those who declaim
against them as monopolies. These profits are fam
| elful, not real.
| The gentleman from Virginia, [Mr BEDMGER,
the other day, in denouneing the tariff, gave Us
| fable by way Of oflustraton--he told us hsh story
1.-The substance of which was, that some silly small
| hsh, TO get clear of big one, committed themselves
to the keeping ofa hawk, who, having kindly inter,
ested himself In their behalf at his leisure deyoured
them We tarfpeopls represent the big fsh--the
great pike the free traders the little fish, who ia the
hawk The English, certainly the English; and,
SIR the reality, IN one particular, will resemble the
dcton-the hawk viii deyour them in the end. This
is the true application ofthe alegory. To say the
least ofit think 1t was seaiy Argument in favor
Of free trade.
Sir the gentleman denounced the system as one
Of plunder, robbery and tyranny. He seemed to
have perfect horror for IT, He appeared to be in
terror at the contemplation Of il. Indeed, sir, he
| reminded me ofthe Jerseyman who lived near the
Camden and Amboy railroad When II was finish
ed, locomotive was put on IL, Of course but the
Jerseyman had never heard or dreamed Of such
hing. Along II came one day, scudding away at
the rate Of twenty miles an hour, putting vapor and
| emitting hre and smoker il looked like the demon Of
destruction; the Jerseyman looked at il, became
alarmed, and fed into his house in CONSERVATION,
exclaiming, "oh Lord here comes the tariff !"
Very unlike the ineongruous appearance Of the lo
comouye were the indications that marked the adj
vent ofthe tariff; IL came, not dispensing fame, and
yapor, and smoke; but like the influence Of the gen
lie dews of heaven on the parehed earth il dispensed
penIy' happiness, and prosperity TO all.
Mr., Chairman, nothing on earth can be Of more
importance to England than free trade with us,
Give them this, and they will supply all our mar
kets. While, sir, we may manufacture as cheaply
as they do, still they will break US down by under.
selling. They can stand the loss in prospect Of the
ultimate gain. What says that able English econo-
mist, MeCulloch, on this subject, when speaking Of
The effect OF the compromise acp alt appears,
therefore, he observes, reasonable TO conclude that
new beginners, having to Withstand the competition
Of those who have already arrived at a very high
degree OF perfection in the art must be inevitably
driven out Of every market equally accessible TO
both parties; and that nothing but the aid derived
rom restrictive regulations and projections will be
ehectual TO prevent the total destruction Of their
establishments in the countries where they are set
up"
Again he says: "The tariff forced cottons, wool
lens, iron, and other manufactures, into premature
existence In the United States; but we have little
doubt that, except in the coarse fabrics and then
when It Is necessary to use large quantity Of the
raw material, the late notifications (he compromise
| act) have given the death-blow to the American
manufacturing system" The prediction was true
And, sir, your bill is nothing better than the
promise act and the proposed duties are not higher
han they were at the tune that great and general
failures were experienced by manufacturers under
| that BILL
will make one other quotation: il is from speech
delivered IN Parliament by that distinguished states
| man, Lord Brougham. Speaking of the passage Of
the tariff ball of 1916, he says: "Indvdual British
merchants may lose by the late (l8l7) immense
| lmportatons, but British commerce and manuiac-
| lures in the mass will gain by breaking down the
composition with ours in their own markets" This
was British policy in lsl7-it will soon be seen that
Il will be SO again. Bat perceive that my time is
| almost out Oh, for another houh One short hour
more! Give me but this, and will consent here
afler to be silent.
Voices 'tNo, MOI we can't agree to let you of
that way."l -, r-
My friends are very kind but see | must con-
clude, and will do so, BY stating that object to
this bill
Because, if war measure, the result will be en-
tirey inadequate to that object, yielding, according
to the estimate Of the Secretary OF the Treasury less
by million Of dollars than the tariff Of l842 which
estimate believe to be conectural at best and to my
Because, as a measure of ordinary finance, it is
insufficient to meet the wants of the country and if
adopted, will in the end lead to direct taxation thus
destroying at once both the purposes ofrevenue and
protection.
Because it will change the industry of the people,
driving them from employmens undertaken upon
the faith of your legislation, by admitting free
and almost unrestricted competition from abroad, of
labor reduced to the lowest possible living prices
the fruits of oppression and poverty.
Because ii will retard that great national prosperi-
ty now everywhere conspicuous, by not only
greatly imparng the success Of enterprises already
undertaken, but by preventing the discovery ofnew
fields in which to employ the ingenuity and skill of
our people.
Because it yields up the independence intended to
be attained by the fathers of the American system,
by again looking to Europe for the produce Of their
workshops, instead of supplying ourselves from our
own.
Because, notwithstanding it may be true, that in
many departments of manufacture, the cost of the
foreign production is less than with u.s. on account
of the greater cheapness of labor, still experience
has fully shown that the price of the foreign fabric
in our market always advances as competition, by
our own manufacturers, is destroyed and in the end
we are obliged to pay higher prices than to our
producers.
Because the bill under consideration is not mod
caon of the tariff of 1S42 but an entire change of
It In principle and detalnot conforming to any ex-
pressed wish of the majority of the people, and in
furious, in my opinion, to all classes.