Burlington free press. [volume] (Burlington, Vt.) 1827-1865, 1846-01-16
get money to import goods, and the Treasury
would be BANKRUPT,

q.
would be bankrupt.
Under the compromise law the duties ran
down till they reached the point of twenty
per cent; then was the gentleman 5 Utopia;
then, according TO the Secretary, the revenue
ought TO have been abundant; but who had
yet forgotten, or could ever forget, what had
been then the condition of the Treasury, and
of this entire nation The Treasury was so
perfectly bankrupt that it could not borrow
one dollar. The States were every where
regulating their debts, and the national
character lay PROSTATE and bleeding. That
was the condition, aud every body knew it,
10 which twenty per cent. tariff had brought
This land and yet at this day the first fiscal
officer Of the Government had the front TO
recommend a return 10 that state Of things
In our great humiliation and distress the tariff
Of AZ came in like delivering angel It
raised and restored the revenue it repIen.
ished furnished Treasury it brought repu-
diation into disrepule il made a bankrup,
law useless in n word, II struck the whole
country as will, the wand of an enclanter,
and brought back plenty, and credit, and en-.
lerprlze, and hope, and public character.-
Why, then, disturb il? What mischief had
it donel The Secretary deprecated agi,a.
ton, bot who ugtaied the couniryl 1t was
the Secretary himself and his friends. The
friends of protection every where cried out,
"Give the country repose." "Give the
country prosperity and peace under the tariff
as il is"
His hour, Mr. S. said, was fast drawing to
close. He must hasten on, and merely
glance at many Of the remaining topics Of the
message and report, some of which, had time
permitted, he should have been glad to have
noticed somewhat more at large. The re-
port, for the first time in an official form, had
promulgated the doctrine of " free. trade"
which is openly and distinctly avowed and,
to enforce the argument, reference is made
to the "frer-rade" existing among the States;
and it is declared that "reciprocal frce-trdde
among nations would best promote the inter-
est Of all )" that "the manufacturing interes,
opposes reciprocal free.trade with foreign
nations )" "and if it desired reciprocal free.
trade with other nations, il would have de
sired very different tariff from that of
1872"
These are his positions, and they fully sus.
tain the doctrine of" PREFERABLE"
But the policy recommended by this adj
mnistraiion, if carried out, wouId.be ruinous
: to Pennsylvania, because her iron and other
manufactures are carried on mostly by man.
r ual tabor, and not, as in New England, by
, labor saring machinery, and therefore, to
induce the inveslmen, of capital and the &C.
QUESTION Of skill ard experience, she must be
projected against too free competition " III
the depressed and low-priced labor Of Eu.
rope.
The report represents the TO- cign marke
as all-impOrtant to the farmer, whilst the
home market it considers of small compare
tive consequence; yet it appears from Off
: cial documents that our annual exports Of
{ agricultural products (deduc'ing cotton, to.
bacco, and rice) have not for a series %
years exceeded an average of ten millions o.
. dollars, whilst the domestic market amount,
!. to M re than fifty tunes that sum. Massa.
! chusetts, il is ascertaincd, imports and con-
sumes annually ihirty-threc millions of dol
J lars worth Of the agricultural products of the
] other States, whilst Great Britain, from
I whence we import about fifty millions o
{ dollars worth of manufactured goods annu
q ally. (one.halr of the whole value Of which
n consists of agricultural produce, raw mate
: rial and the subsistence Of labor,) does no
take, Of al the agricultural productions of tn,
3 United States, (rycluding cotton, tobacco
! and rice,) two and a half millions Of dollars
$ worth year: thus estimating one half thu
: value of our imports to consist Of agriculture
t produce converted into goods, it follows tina
u we import and consume about twenty hv,
;, millions of British agricultural produce in TIN
Carr Of tvl Inn los los
e than two and half from US; so that we pur
y chase and consume ten dollars worth of Brit
S ish agricultural produce, converted into cloth
e iron, and other goods, to one dollars wort
q of the same articles she takes from us. Yet
r according to the report, the foreign marke
: to the farmer is every thing and the hom
: market nothing.
The report says tina, protective duties are
u levied exclusively for the benefit of The ricl
p, monopolsis at the expense Of the farmer
u and laborers. Now he conlended that jus
= the reverse Of this was the truth. That lh'
IS practical effect of protection was TO Increas
y and thus destroy monopoly by promoting
Is competition; and thai by Withdrawing hbo
: from agriculture to manufactures, you no
" only diminish the supply, bu, at the same
J. time increase the demand for agriculture
s. produce, and Of Course increase its price
j. whilst on the other hand, by increasin!
manufacturing establishments yon increas
ID the supply of manufactured goods, and q
'e course reduce their price, so that the farme
N is thus enabled TO sell for more and buy TO
= less. IL demand and supply regulate price
'e this conclusion is inevitable. Yet the re-
10 port SAYS " the tariff is double benef I
ID the manufacturer and double loss 10 til
le farmer"
lie The Secretary Of State (Mr. Buchanan
.e understood this much better, when he ser
,e a toast sometime since TO the manufacturer
'e Of Ph,sburg, to ,his~fleci: "The elec,io
10 of James X. Polk has saved the manufac
y, turers from being ruined and overwhelme
l. by excessive competition" lie was RICH
' Il certainly did favor the invested capita
y the monopolists, by checking competition
$, and lhersby keeping down the wages of Ia
TO boz and tho produce OF the farmer, whIc
BE would. in a different result, have been er
r. HANGED in price by an increased demand
= This is illustrated by the fact that al Pnt'
'ir burg, shortly before the tariff Of ls42' III
ly laborers in the factories were put on Ia
ny work. and of course alpdy; and al"o
he Immediately after us passage they were r.
u.l .,ored IN r,ll work and fall nav. IL was I,