The daily union. [volume] (Washington [D.C.]) 1845-1857, 1846-05-16
WEsT CHESTER, CHESTER CO., PA.
To III. Editor Of the Union

| As the tariff and sub-tTeasury bills SOW before
Congress, and as great exertlons are making by
banking and manufacturing companies, and all 9TH
ers whom they can directly or indirectly influence !
think 1t is not ill-timed or improper 10 make few
observations as TO the probable effects we may ex-
pect them to produce if they become laws.
| II is a common error, and not unfrequently a
wilful perverson Of facts to ascrbe the effects Of
the contraction Of the paper currency TO reduction
or modification of the tariff This was remarkably
so for year or more previous to the alteration OF
lmnort duties in lS42.
| Present appearances have similar indications,
with this important difference, that the present tariff
| is excessively high.
II the tariff hill passes Its proposed stae-f il
| becomes a law as il ls-and the sub-treasury bill
does not, then it is more than probable that the
| banks of this Union will keep up and increase their
issues thereby extending credits, enhancing the
prices of merchandise, and inducing specuatlons
and money is rather scarce, and manufactured
goods at low prices in Great Britain It will give
improper impetus 10 the importation of them, and gu
our markets. Then will Immediately follow sacrifices
of both United States and English manufactures
which will be laid hold Of by the designing the dis
honest, and the ignorant, proof positive Of the
evil effects of the new tariff, although it would have
had more TO do with it than the pen am writing
with But let US suppose the tariff bill does not
pass, and the subtreasury bill does and goes into
operation intended: what then will be the ef-
fects produced The effects of the passing Of the
latter will be gentle and gradual restriction Of
banking and bank issues, to keep the people sober
minded in business transactions, and TO place the
funds Of the government under its own immediate
control: II will also prevent speculatlons and mode
rate the imports Further, it will by essening i'm
ports, give our manufacturers greater monopoly Of
the home market for their goods and whilst other
commodities decline little in price, they would be
able to increase their prices, thereby adding to their
already enormous profits at the expense Of all others
IN our Iand-in fact, giving them power TO charge
their prices for their goods whilst the farmers
and store-keepers and almost every one else would
be suffering from diminished profits and remunera-
ton.
Once more: let us suppose that both bills pass
| substantially proposed, and become laws. How
will it be them Now, you know am not party
man, for the sake Of either party Office. | write
what consider to be the truth, and am persuaded
that the effects Of the subtreasury bill would be such
have Just described. Then regards the effects
Of the new tariff bill, no doubt it would tend in
some measure to increase the imports of such goods
are very dear with us, but which do not materi-
ally interfere with own manufactures, and con-
sequently increase the revenue. Probably II might
rather reduce the profits of the manufacturers,
| which range from thirty to one hundred per
cent; but it would not ruin or seriously lnjure any,
| or reduce the wages of operatives.
The true conclusion derive from these reflections
u.s. that the Joint working of the two bills would be TO
the undoubted and inestimable benefit of our whole
population.
II our State governments will free us from the
undue expansions of irresponsible paper-money
makers and the inevitable and scourglng restrc-
tons consequent thereon !, ex-manufacturer,
would not hesitate to invest capital in manufacturing
with 10 per cent ad valorem duty cotton,
woollen, and mixed fabrics BY capital, | mean
hard cash now out on mortgage-neher borrow
ing, nor quilting the credulous with bills and prom.
ises TO pay. On the other hand, if must be sub
icct to the expansions, restrictions, and comngs-
down of by-gone days, would not engage in man.
ufacturng unless the only brass | had in my
face
Before conclude, allow me to state the case Of
two shoemakers not far from this. They live
in the same street opposite each other
one is good cutter, has money, buys the
best leather at the first hand, employs the best
workmen, pays them regularly and promptly, and
gets his work done low; consequently he produces
| superior article at moderate price, and rs mat
ter of course takes the bulk Of the trade The other
man has no capital, gets his materials credit at
| high prices, pays his workmen uncertainty, does
not produce as good article for the same money,
| and cannot get along. Now, why should not this
man have bill passed to protect him : The manu-
facturers get bills passed TO protect them against
English manufacturers; and the only difference is
that they are big pond, and the shoemakers
across the street; for we are all brothers.
You are at liberty to make any use of these few
remarks you may think proper.
remain, respectfully
Your most obedient servant,