The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1846-05-22

duce more than we can sell, except al phi
ces miserably low. We have to buy our
clothing, and other foreign productions,
from abroad, at their own prices, IN pay.
ment of which we are constantly being
drained Of our specie, TO the arrangement
of our circulating medium, and paralysis OF
all business. The proposition is TO hold
out inducements TO the merchants 10 with
draw portion Of their capital from for
eign trade, and employ II IN manufactures
and the domestic lradc of their dlstrlbu-
ton. We shall thus withdraw q portion OF
our labor from agriculture, aud convert
producers into consumers. We shall thus
furnish ourselves with at least portion OF
The manufactures which We require, by the
labor Of our own citizens, and pay for them
with those productions for which we find
no market, or poor one. We apprehend
the question was never started 10 these dis.
tlssiuns, whether there was not danger
that those who should be drawn into the new
occupations would make too much money ;
because in those days II was considered a
settled principle, confirmed by all cxPe!i.
ence, that any business yielding profits a
bove the average rates is sure TO attract
capital and labor into Il, until the profits
fall 10 the general level or more usually
for time below Il.
Al any rate, the protective policy was
adopted, and men OF business employed
their earnings 10 the new occupations 10
which they we're invited by the policy aud
laws Of the country, doubnngy and hest.
,allngly at first, but afterwards more freely
and confidently. The most successful
branch, and the one which hes absorbed
the greatest amount Of capital, is the man,
ufaclure Of cotton. The possession OF the
raw material on the spot, and the peculiar
adaptation of machinery 10 produce great
results in this manufacture, soon made II
evident that the cotton manufacture was
rapidly TO become one Of the leading inter
ests Of The country. Capital went into II
freely and confidently. Its rapid eXten.
sion has no parallel, aud is only equalled IN
the corresponding reduction N the price Of
its fabrics. Its success furnishes the only
ground Of is lenunciatioa. The manutac.
Inrers are growing too rich. That IS the
whole burden Of the report. Especial te.
gisldtion" in their favor. {" Another form
of privileged orders" We regret TO see a
high officer of the Government descending
TO use the stereotyped slang Of the party
newspapers. But what we pass by in 81.
lence 10 the Evening Post, or in The ram.
blings OF the laborlous Bundelcund, ought
not to pass without ccnsure when coming
from Secretary OF the Treasury.
In carrying out his views, VIC find some
very extraordinary assertions. For ~
stance, Experience proves that, as gen
eral rule, duty Of twenty per cent. a,
valorem will yield the largest revenue.
We should be glad to know, uhGt eIPer'
enee Is il that Of Great Britain, who's
necessities require her to push her dutle
up or down 10 what she finds By experenc
to be the highest revenue standard p! lie
duty on tea is IS. ID, or 80 cents th
I pound, on all teas without discrimination
1 being at least 200 per cent. on The cost
producing, for the year ending January
1912, the comfortable sum Of G3,97 5 ,0O'
as revenue. Her lowest duty on suga
that year was 2Is the cwt., or 81 cents Ia
pound, producing revenue Of Is, 1900
upwards Vi twenty -four and half million
OF dollars. 1t is true this duty on suga
has since been reduced, but FOR relief, nu
for revenue Her duties on vines are 5,
Sd. the gallon, rum 9s, 4d., brandy -;
3D., tobacco 81. the ponnd, producing Il
gether eight millions Of pounds, or abot
f forty millions Of dollars, q, rates varyin
from 800 10 900 per cent. on the yalu
So much for the experience Of Englan,
W hat is our own Oar highest tariff VT
that Of ISIS. Our greatest revenue wa
under II, for The year 1881, being $50
3l2, col nett, al rates Of duty averaging 1
| per cent. on imports suhiec, to duty, (Se
Doe. No. 3, 2Sth Congress- Our lowe:
tariff was in operation in l-l2, being lie.
Il than "a per cent. on tue duuable import
and produced a nett revenue for the yea
Of Si2,7e0,l73 So much for our ov
, experience. We thiuk It would puzz
, Mr.. Secretary Walker to furnish the es
dence Of what he pEonouuccs 10 be go cIea
Iy proved.
Another assertion Of Nr. Walker s, III
the wages Of labor have no; Hugmentc
, since the tariff OF 1912, but that they Ina,
} IN some cases diminished. Now, We fir
on inquiry Of the different agencies
Lowell, that the average earnings Of Il
, operatives have increased full oue.thl
since the disastrous year 1912, or fro
, s. 81 to full 81 per week for females, G
elusive Of board. But even this does n
! present fair view Of the full effect to Il
, tariff Of ls42, upon labor. At that tin
the pToprletors were receiving no div
: bends, and waiting the action Of Congre
b. before deciding to stop the mills. II;
c Congress adjourned without the tariff, mo
c than one-haf the mills in New EugIaf
5 would have stopped work a, once. IT
: reason assigned by The Secretary for b
. supposed fact, is entitled to some MOTTO
/. A" As the capital invested in manu(actur
t is augmented by the protective tariff, the
G Is d corresponding increase Of power, un
. the control Of such capital over the wag
/ Of labor becomes irreslstible.n That is