Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1846-09-17
SPEECH OF MR.. EVANS.

if is one of the cearcst and ablest ever made i'm
the Senate upon the subject We should be glad
to publish it entire, but 1t is too long for that-so
will for the present give the following extract:
But it is argued that our ability TO purchase the
products of other nations, and our demand for them
will largely increase, by the increase of our popu-
lntion, and by the augmentation of our own pro.
ductons which may be given in exchange for
theirs.
have some opinions upon this subject, which
will venture to submit to the Senate, and to which
! ask their careful consideration. ] know We are
increasing IN population and in wealth, but have
no belief that our imports will increase in anything
like the same degree. On the other hand, | ex
pect that our foreign importaions, and the revenue
derived from them, will hereafter bear constantly
decreasing ratio to our population, and the aggre-
gate of our wealth and productions. Undoubtedly
as our people increase in numbers and in wealth.
they will consume more and more OF articles nee
essary for their subsistence and their comfort. But
the increase will be chiefly Of articles produced at
home for the reason that the older countries of
the world, with which our commerce mainly lies,
not able and not likely to be able, to pur-
chase and consume much if any more of our pro-
ducts than they now do. They not increasing
IN any degree corresponding to our increase. We
are increasing in population at the rate of 3 l-2 to
per cent. year, doubling in % or 30 years.
England at the rate only of about l-2 per cent
anu TTdICcj OETDldny, ana EUROPE generally at a
bout ] per cent.
We are increasing in wealth and production
quite as rapidly as in population: Wealth here is
generally dllfused among the people, Whatever
increase of wealth takes place in Europe very little
is added 10 the comforts or the ability of the great
masses of the people. The rich become richer
but do not perceive any yreat or general improve
ment in the condition of the larger porti5n-the
laboring multtudes of their peOpo-those who
need food aud clothing, and for whose consumption
a greater supply OF our productions is required, if
required at all. The people of Europe are compo.
sed chiefly, Of two classes-the wealthy and the
poor. To be sure there is an intermediate class
in comfortable condition, neither rioting in wealth.
nor suffering from poverty but all know that wealth
is there very unequally distributed, and the great
division which have named of rich and poor, ex-
ISIS. Now the wealthy class already consume Of
our productions all which they requIre-all which
their comfort, their luxury their fancy desires. No
increased consumption can be expected from that
source While the latter class, the poor, have not
thu means, nor do see any reasonable prospect of
their obtaining the means, of increased consump-
ton. do no perceive that the ability OF Europe
of old and stationary countries, is ocly to improve
IN any degree corresponding with our advance in
population and in wealth; aud hence, do not per-
ceivc any Just reason to expect that we shall be
able to increase greatly our consumption of their
manufactures. Commerce cannot be kept up, un.
trade with nations that cannot trade with us--not
to 4 greater extent than they can trade with US
and IT our means are rapidly increasing, and theirs
slowly, 1t at all, 1t Is obvious that trade with
them must bear a constantly decreasing proportion
TO our productions and our population. This was
not so, in the earliest periods OF history, when
our resources were developing, and we were main
ly dependent on other nations for all our manuac-
tured fabrics, and articles OF necessity as well as
luxury. The condition of the civilized world has
been changed since that period, and the pursuits of
men every where have taken a new direction
But know the answer which will be given to
these suggestions 1t will be said that by impor-
ting more from Europe, we shall enable Europe to
take more from US. If we employ The capitalists
and the laborers Of Europe 10 work for MS, they
will be able, from the profits and The wages which
we pay them, to purchase greater amount of our
productions.
The Secretary Of the Treasury reasons in the
same way. He deems it one of the eXccllencies
OF the system that, "y furnishing profits abroad 10
thousands Of capitalists, and i0dseS TO hundreds Of
thousands Of ,corking classes" great incentive to
the preservation OF the peace Of the world is pro-
vlded, in the necessity which they are under of
purchasing the raw materials. Our trade IS to be
kept up by "rdgeS dJrodd," and "pToftS a5road"
paid by ourselves. We are to enrich Europe to
enable Europe TO purchase products. Now
Sir, | think the benefit expected from this source
is greatly over-rated. doubt not that if we i'm
port mere than we now do from abroad, shall
export more. We must do SO, or the excess of i'm
ports will cease. But iChat shall we export? Eu
rope always takes much Of our productions, of
every description, It's necessities require, or its
ability will allow. What shall we export More
than one half Of the value Of exports consists
of cotton. Suppose we increase our imports, ms
the Secretary computes, 10 millions. We shall
have necessity to send Is millions more abroad
If it be in the sane articles, and the same proper
lions now exported, about millions Of it will be
Of cotton. The Secretary estimates that - mill
ions of dollars worth OF cotton will produce of
manufactured fables 504 millions in value. AT
the same rate, s millions of raw material will yield,
when manufactured, 81 millions Now does any
body suppose-can 1t be for a moment imagined,
that England, or Europe, or the world, will require
and consume 81 millions Of dollars worth Of man
uactured cotoEs more than is now required or CON
sumed, in consequence of our consumption of Is
millions Of manufactured articles of all descrp-
tons imported from abroad? No sir, no sir. This
Is all fallacy. England will take, at all times and
under all circumstances, just so much Of our cot
ton, and no more, as she can find market for in
the manufactured shape and, until it can be dem
onsrated that the markets o! the world call for 81
millions additional Of cotton goods England will
not take an additional millions of raw mate
rial to supply that amount. You may take Is mill
ions more from her, II you please, but she will not
take Is millions more of your raw materlaL nor
one dollar more, unless there be a corresponding
demand for the finished article made from il. II
she does not require the raw material, nor any 9TH
er of your productions, you must pay in money
coin--the solid silver and gold If she does require
it, she will take it of you, aud pay you the balance
in SPECIE whatever the rate of your duties upon her
merchandise may be.
But do not doubt, if you employ the laboring
people OF Great Britain 10 make for you fifteen
millions more in value of their fabrics, you will in
crease their wages and their ability to consume
more of articles of necessity and comfort be-
Quoting the cost of the raw materal-the profits
of capilal--the interest on the Investments, &c.
and probably of fifteen millions worth OF finished
productions, five six millions may be left for the
wages Of labor The increased ability to consume
therefore, will be only this five or six Millions
How will this be expended In cotton, or tobac-
co, or rice, wholly or chiefly? In any of our pro-
auctions now sent abroad? By no means. 1t will
be expended as the poor mans wages are now ex-
pended-in those articles which go to supply his
daily wants, or his tastes. The few shillings which
he may receive additional during the week. will
90 for additional food, which you will not furnish