The New era. [volume] ([Portsmouth, Va.]) 1845-1847, 1846-08-01

competition enables the domestic manufacturer To
sell cheaper than the foreigner could have done
II no duty existed. But this proposition is so
mantesily absurd that | need not repeat the ar
.guments against it. 1t rests upon the absurdity
that there will be competition amongst our
own manufacturers if we confine the home mar.
.ket to them, than there would be If all the manu-
facturers Of the world had access to it. In other
words, that part is greater than the whole Il
rests on the absurdity that although the agencies
OF production. capital, labor, machinery, the nat
ural agents and the command of the raw material
upon combined view may he cheaper else where
Than here; that yet mere legislative provision
may give us the faculty of cheaper productions at
home. 1t rests, too, upon the absurdiiy that pro-
lection is necessary to them, although they have
the ability to sell cheaper here than foreigners
could possibly do if they had access to the mar.
ket. They say that il we give them the
home market. they sell cheaper than foreign |
ers could possibly do; as il the reply was not
ready: if you undersel the foreigner in the
home market, do it, and you will certainly not
only take it, but keep it. Facts, too, have heen
maintained TO exist which prove the proposition
and yet when these have been examined, and
met by those competent and disposed to the work
OF detail, they have always been shown to lead to
lar different conclusions. 1t is remarkable that in
all the lists which have seen exhibited to prove
this proposition, the price of the American fabric
after the duty was laid, was compared only with
the price before protection was given. For fair.
ness, further comparison was necessary between
the price of the protected American fabric and
the similar foreign article. Whenever this com
parlson has been carried out, the comparison was
30 much in favor of the relative cheapness Of the |
foreign article in manufactures, which really re-
quired protection after the duty before; and
this because the fall in price was clearly traced
to reductions Of the currency, improvements in |
machinery, or other causes operating abroad as
well at home.
l should not have alluded to the sophstry, ex- |
cept that it is the only pretext for avoiding the
conclusions to which | have attempted to lead
the committee.
MIR. Chairman, it is difficult to measure the
effects of the depressing influence upon a country
OF any Legislation which diminishes the profit upon
the entire mass of its productions. A very small
dimlnution in the rate of profit upon such mass
would amount to vast sum. When we reflect
too. that most of the profit thus lost would have
taken the shape of accumulated capital, and that
the capital of such a country ours accumulates
almost upon the ratio of compound interest, we
may form some conception of the vast amount of
national wealth which is lost by the restrictive
system. But we told that these are mere
theoretical conclusions, and facts demanded to
sustain them. To this it might be REPLIED that
those who seek to change the natural order of
things, when and theory are manifeslly
against them. are bound To produce the facts
which are to establish the propriety of this change
None such have been, or can be produced, as has
been shown in every instance when thew have
been accurately examined. But although the
burden of proof, so far facts are concerned, is
manifesily on the other side, yet we may safely
assume it, for experience has decided in our favor
far it has decided anything in relation to the
matter. Sir Robert Peel in his speech in jan
uary last, has presented us with body Of evil
dence on this subject which is almost conclusive,
so far as the experience of Great Britain can de-
eide it:
THAT is the total amount of our FOREIGN ex-
ports, which, frsm the year 1872 when the great
invasion upon the protection of our domestic in
dnstry was made by the tariff rose from ,e47,-
3Sl 900, in 1912. to 95S,OOO 900 in 1874. II
may be said that the China trade has done this.
expressly exclude that trade. In 1912, apart
from the China trade. the exports to all other
countries, except China, amounted to 346,4lI,-
OUU: in 1914 they increased 10 millions, and
amounted to f56.000,000, and this, as | said
before, deducting the China trade altogether. In
the year 1915. we can only have the account for
the Ii months succeeding December, 1874 The
exports Of the principal articles of manufacture to
all parts of the world were, in lS43. cal OOO,-
600 y; in 1874, EAT 900; in 1915, EAT 1884,
OUO; thus showing another increase in 1915.
" Let me take the results Of the revenue as
bearing upon this question. In 1912, the House
will recollect, proposed reductions on the Gus
toms duties to the amount of an estimated loss of
81 ,43o,OOO; and in 1874. | proposed further
reduction in the customs duties to the amount of
'e273.OO0; and in 1916, to the immense amount
of S2,4l8,O00. | estimated that the loss from
these several reductions would be e4,I2o 900:
and let it be remembered, ! discard the revenue
from corn from both Sides Have nv expectations
been realized2 Have four millions been los, ?
No The total amount of the loss has been seI -
100000. dealt with the excise last year. and
made reduction Of million in that department.
took of the whole of the glass duties took
off the auction duties. But observe. what has
been the effect ?'' .'I believe that, not with
standing the total reduction, the absolute loss in
deed OF one million in the excise, the revenue
from that department will be more than ever, for
there has been salient spring of prosperity which
has more than supplied the deficiency
He also informs us that the duties were chiefly
removed from four principal artices-1ax, foreign
cattle. lard, wool. The price of flax at Belfast
was in 1913, from 65s. to 67s. per ton ; in 1874,
o3s. TO 68s. ; in 1915, 64s. to 68s in 1876, 70s
TO SOS. Price of provisions has also risen In
1910, only 81 cwt of foreign lard brought in the
country; in l843, 48.2l2 cwt. in 1914, 76, 900
cwtj IN lS45, 10000 cwt. in 1914, from 48s
per cwt.; 1916. CTS ; and 1916, 62s In 1912,
there were 45,800,000 lbs foreign wool import
ed; in 1874, 65,79O,000; and in 10 months of
las! year, there has been no less than 65,2l6,OOO
lbs In 1912, price of South Down wool, when
there was duty upon foreign, was Id Of long
wool, lOd. in 1913, of South Down WOOL lad;
OF long wool, Id; in 1874, the price of South
Down wool was Is. and I'd of long wool. Is.
ID; in December, l645, eighteen months after
the total reduction of the duty the price of South
Down wool rose from Id, the price in 1912. to
Is. Aid. The average price in December, l845.
of South Down, was Is. 4d., and of long wool,
Is. 2d.-(See Union, February %, for Sir r.
Pee's speech.)
ITO be continued.)