Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1846-07-27
Another Treasury Report.

The Union of Thursday evening last contains
another Report from "Sir" Robert Walker-the
design Of which is 10 establish the theory, which
is every day refuted by undoniable and ncontro-
vertiblc facts, that protective duties enhance the
price Of the articles upon which they are levied,
and that they consequently operate as bounty
TO the manufacturers, who in this way draw from
the pockets Of the consumers of their fabrics
about double the amount of the revenue de-
rived by the government from imposts. In other
words, the Secretary contends that the people are
really taxed by the existing tariff not less than
S15.OOO,OOO, about one third Of which goes into
the Treasury and the other two-thirds into the
pockets of the producers Of the articles upon
which it is eIacted. Even If the theory were
true, it might be very safely assumed that the ag
gregate of national wealth is greatly enhanced by
the policy which diversifes the pursuits OF our
people, and develops the internal resources OF the
country. OF what value the coal and iron,
the lead and "copper" with which bountiiul Pro-
violence has filled our land, il, instead of disem.
bowelling them, we are to depend for supplies OF
these articles essential alike personal comfort
and to national independence, upon the mines of
England and Wales, to whose capital and indus
own because forsooth il is contended that we
may procure them little cheaper, IN conse-
quence of the pauper labor by which they are
prepared for usel Better were it for us, II
this policy is to be pursued had our mountains
been made of solid granite, instead of teeming
with this abundant source of individual wealth
and national strength. There never was n more
injurious though plausible fallacy, indeed, than
that which teaches us that II is always wise TO
buy in the cheapest market. The individual ex-
perience of every man ought TO satisfy him that
the market which, when tho element of price is
alone considered, seems TO be the cheapest, is very
frequently actually the dearest. Ii A, for exam
pie, can procure n ton of iron from Ii for 20 dol
lars, for which h requires the cash and will take
nothing else, while from G he can procure that
ton of iron for % dollars, and pay for il by the
products Of his labor is it not obvious that he
would be the gamer by paying the highest price
But Mr.. Walkers theory, as before re-
marked, is dsproved by facts. However true it
may be that the foreign manufacturers may show
lower scale of prices than the actual sales in the
United States the fact nevertheless is, that there
has been no augmentation in the price oil any ar
tcle upon which protective duty has been I'M
posed but, the contrary, the imposition OF the
duty has been uniformly succeeded by reduction
of price, How can it be contended in the face
of this fact, that the duty enters into the price,
and is a tax upon the consumer for the benefit Of
the manufacturer Does any man believe, If the
tariff bill now pending before Congress shall pass,
that there will be permanent reduction ofpricesl
Ifhe does, the result will disappoint him for, so
far from destroying monopoly" as is rdIcu-
lously pretended, it will, by breaking down COM
petition, create n monopoly; and prices hereafter
will be regulated not at present, by the active
rivalry Of the domestic and foreign producer, each
striving to supersede the other in the market, but
by the cupidity of the seller, and the necessities
of the consumer.
The idea, extensively prevalent, that the reduc-
ton which has taken place in the prices of the
protected articles-for that, we repeat, cannot be
denied-has resulted from the Improvements in
machinery exclusively, is shown to be unfounded
by circumstance stated to the Senate by Mr..
Dayton of New Jersey, few days ago. Win
dow Glass, an article upon which the highest duty
is levied, is made Dihom machinery and yet,
upon no article has there been steadier and
larger reduction of price than upon this-until, as
in the case of coarse cottons the price is actually
less than the duty, though, when first imposed, the
duty was, if we remember Alright not higher Il an
25 per cent. 1t is manifest, that whatever may
have been the influence Of improved mach merry
in reducing the cost of those fabrics in which 1t
is so important an agent it can have had no such
influence upon Window Glass, in the preparation
of which il is not used at ALL
Mr. Walkers Report is well calcuated-as it is
intended-to deceive and mislead the country, and
deserves closer analysis and more thorough re.
futation than we now have leisure to attempt. At
n convenient season" shall pay it our re-
spects and endeavor to controvert its plausible as
sumptons by the irresistible logic Of faots-a
process Of reasoning to which I" Sir Robert " and
his disciples have always been decidedly, and very
naturally averse, since they are always in con-
hci with their har-spun theories.