The daily union. [volume] (Washington [D.C.]) 1845-1857, 1846-07-14

dred and forty millions Of consumption. The sec
Rotary anticipated nothing like that. His highest
estimate Vas one hundred and twenty-one mill IONS
and If they had gone increasing the rates Of du-i
Ties, did they expect TO augment the lmportationi
They had 10y the bill ofthe House increased the duesi
and yet they expectef to obtain the increased i'm,
pOrtatlon. Could they consume that amount
When had they done IN In TWO years only-in
1886 and In lS39-hsd they imported anything like
that. Did not every body know the effect of that
excessive consumption Of foreign goods, though
they did not pay for them They could hardly af-
ford TO have them given TO them. That enormous
amount was brought in-not so much more in guam
uty the figures would indlcate-but so much more
in prce-and all knew the disastrous consequences.
Yet in that excessive year, when all thought they
were prosperous but l6S millions were consumed.
Next year they fell down to ll9 millions. The
goods went into the hands Of merchants, who failed,
and they sold them at reduced rates 10 the retailers,
and they failed, and the retailers sold them TO the
consumers, and they faleJj and Congress had to
enact general bankrupt law To wipe out universal
debt. Thus the laRd was imposerished-men struck
down eyeryWhere-and yet they were said to have
got rich by excessive ImPorauons. word as to
the ability TO consume They could not afford
to consume anything like lao millions annual.
iy, because those that they traded with could
not afford TO consume an equal quantity OF
our produce. But great increase was expected
IN the ability TO consume. Increase Of pop
uation, il was said, would add to that ability.
Let them look at that. Their ability TO con-
sumo the products Of other nations was gov.
snsd by the ability Of other nations to consume
American products Their ability To consume was
not al all regulated by increase OF population alone.
The population OF the United States was doubling
every twenty-five years; bat was the ability 10 con-
sumo doubling too Not al all. Were the European
nations doubling In twenty five years. Were they
increasing In Wealth-the means Of consumption
anything like the United States Not at all. Eu-
rope composed Of two classes-the mobiles, who
consumed TO the full extent Of their wishes, and the
people, whoae meaas Of consumption were not in
creasng. They were almost stationary and yet IL
was expected that they would be able, every TWEEN
Iy-hye years, TO double their imports so that Amer-
could double hers! II was all gross fallacy. So
he would expect to that the amount Of their
enue and imports would bear constantly -decreas-
ing proportion 10 their increase in population and
wealth. Their consumption would, indeed, in
crease; but IL would be all increase in the
consumption Of their own products. Gentle
men were assuming all along that because the
United States was increasing IN population
and resources, therefore Europe was increasing
IN ability TO trade with them. II was not so at all.
tie knew the answer that would be made 10 this
that lnasmuch the United States exported largely
Of cotton they were enabling the laborers Of Europe
TO live IN comfort and TO purchase largely Of their
exports What did the United States import from
they EXPORT The raw material TO be increased IN
value by the labor bestowed upon il abroad. Well,
then, the United States in importing fifteen millions
gave seven and a half millions TO capitalize large
manufacturers-added nothing to the ability Of the
consumers Of the poorer classes Those persons to
whom the additional compensation went, were not
likely to expend II cotton cloths. An addition 70
their comforts not supplied by the United States
might be the result Their few additional shillIngs
a week would be expended, as their wages now are,
in their daily MISUNDERSTANDING Of the sort which
made up the comfort ola laborer's family. And all
the rest Of the consuming community desired no re-
ducton in the price Of the article sent by the United
States, as they now consumed to the full extent OF
their wishes. He would suggest to his honorable
friend Mr.. LEWIS thit he had not taken into ac-
the dimlnUtOn Of the ability Of the American
aborer 10 consume by the decrease Of his wages.
When hundred thousand lahorers had been turn
ed out OF the iron and coal mines Of Pennsy wanna
when they had stopp' d the machine shops and the
fac ories-who were to DO the consumers Of this
vast expected increase Of lmportatonsl All that
gentlemen appeared not able TO understand. But
such was experience. They produced fifteen hundred
million Of commodities at home-tf the amount OF
this production was struck down, was not the ability
to buy also struck down. Now, if they crippled
the people OF this country to a small extent they
crippled the revenue to great extent. tie
would shpw that briefly. He would sup
pose that every person curlailed his expenses
Two and half per cent: would not the curtam ent
be chiefly on those articles imported Certainly.
LuXuTies would lie given up. Four-ffths of the
Whole curlaIment would fall on the articles Of for
eign import thus reducing the foreign imports from
one hundred millions 10 sixty millions. Embarrass
the business and prospects of the people of the cou
try, and the consumption of foreign articles must be
curtalled forty or fifty millions And that was the
secret Of the prosperity which attended moderate
lmpOrtaIIoas. He then went into an examination
of the calculations made by the opposite side of the
probable effect Of the bill on the revenue. Four
hfths of the revenue obta ned from very small
number Of articles; and, therefore, when about TO
ad Just revenue tariff, it should be with special
view to these articles. They were not to judge Of a
tariff bill by the extent Of its list. They were not
to look at the dos," and "fre-crackers," and "mo-
lasses, and pepper" No they were to look at
the chief articles OF revenue. What were they
Manufactures of cotton, which brought five millions;
sugar, two and half millions without molasses,
molasses bringing 1t up to three and half millions
manufactures of wool, two millions bar iron, one
and half millions, other descriptions of iron raising
it to two millions; silk manufactures, two millions
worsted and silks, one million more spirits, one
and half millions; manufactured iron paying ad
vaorem duty Of 80 per cent, one and quarter mil
lions; linens, one million one hundred thousand -
in all, over twenty millions out of the twenty-slx
There were a few other articles-earthen ware,
spices, and manufactured iron, paying specific du-
(which made two millions more. These then,
were the chief sources Of revenue-let them see how
they were affected by this new bill styled" "a reve
nue. bill"
[Mr. E. then stated and explained the contents of
table which he held in his hand, and which, we
regret to say, @as received at late hour that it
is impracticabe for us to give it in its place in this
report
He could go further, but these were the great
leading articles from which revenue was obtained.
The sum total Of all these losses, allowing I'll the
expected importation, would be 2,705, 500. That
would be the loss on the showing Of the friends of
the bill. How was the deficiency to be made up,
and these two three millions be added pass
ed his comprehension. But there were some other
articles from which an increase was expected. An
increase Of 25 per cent. was expected on linens.
But the bill left linens exactly as they stood, and
hence not dollar of increased importation was to
10 expected; and yet the secretary stood to it that
an increase was to come. Take the bill as original
y framed-take the reduction on linens at what 1t
stood (about per cent yet it was expected that
the increased consumption would he Is per cent!
He ridculed such falncious expectation, based on
such an unsound calculation Again, it was ex-
pected that there would be increased consump-
ton of articles which rival articles There