The New era. [volume] ([Portsmouth, Va.]) 1845-1847, 1846-12-03
From the Baltimore Republican and Argus.
A FREE TRADE SPEECH in 1924.

met and refuted in the clearest manner. As the
protective tariff principle has not essentially
changed since that day. we propose To give our
readers the substance of this speech-abrdginp or
quoting as may best suit our limits.
The speaker represents district " highly com
merciai, and deeply interested in manufactures
also." He regrets that Mr.. Clay should have
ueciarcd mat 1t was question between the friends
OF an American system and of foreign system.
lonr readers can see parallel in the
Fdtr'oFs cry of repeal Of the British Tariff
wonder is expressed that that policy should he
called " AMERICAN" which has been uniformly
followed Tor centuries in the old world, and that
that policy. Ga revenue tariff should be denounc.
ed as 3" foreign when it had been the policy Of
our Government from the beginning This
iaVorite American policy is what America has
never tried; and this odious foreign pulley is what
we are told foreign states have never pursued -
Or that is the ruest American policy which shall
most useiully employ American capital, and
american labor, and best sustain the whole popu
ia'ion. He declares that all the great interests
, U, me country are united and iasepa rable; and
mat mat legislation is most dangerous which PRO
J ses 10 benefit any branch of industry. with
OUT due consideration of the burdens which NAV
fall upon the others
Alter discussing the financial condition and the
Commerce OF the country. he proceeds to notice
It's manufactures. He inquiries as TO the necessity
lot further protection. and whether that can be
B''oh WITHOUT INJURY 10 other interests
Gentlemen tell us that they are in favor of
domestic Industry; so am !. They would give i,
protection so would |. But, then, all domestic
industry Is not confined to manufactures The
empioyments OF agriculture, commerce and nayI-
gation. are all branches Of the same domestic in
oustry they all furnish employment for Amer.
can capital and American labor. Aud when the
question is. whether new duties shall be laid for
1he purpose OF giving further encouragement ,o
particular manufactures, every reasonable man
must ask himself, both wheth the PROMISED new
encouragement be necessary, and whether il can
De given wthou injustice TO other branches of
industry.
-" II Is desirable to know, also, somewhat more
distinctly, how the proposed measure w i'll produce
the intended effect. One great obiec, nroposed
TOT example, is the increase of the home marker
Tor the consumption of agricultural products
Ihis, certainly, is much to be desired but what
provisions OF the bill, are expected wholly. or
Principally, to produce this, is not stated would
not suggest that some increase of the home mar
ket may not follow from the adoption of this hill
ont an provisions have not an equal tendency To
produce this effect. Those manufactures which
employ most tabor, create, of course, most de.
mana Jor articles Of consumption and those
create least, in the production of which capital
ana shlH enter as the chief ingredients of COST
Inc protective and prohibitive policy of Eng
land had been held up as worthy of admiration
and Imitation. But more liberal notions were
growing prevalent; the policy Of restraints and
Pohiol'ions was getting out of repute as the true
nature OF commerce became better understand =
Many thought that The great prosperity of Enc
lahd was owing TO her long continued adherence
to Der exclusive system, but he quotes the opin
ions of such men as Lords Lansdowne and iver
pool TO show that it in spite of that system
Protection, VIXEN carried to the point now re-
commended, 1924 that is, to entire prohibi
iion, seems to me destructive of all commercial
intercourse between nations" The adoplion oCI
the general principle having been urged, he asks
whether The consequence of the universal applica
ton OF the general principle would not be- that
nations should abstain entirely from all intercours.
with one another? ' think freedom of trade
10 De the general principle, and restriction the
exception. The true policy of all producers is
not to keep other vendors oni of the market. bur
rather to conquer them in it, by the superiority
and cheapness of their goods
Commerce is not gambling" in which whom.
ever there is loss there must be corresponding
gain but IN just and liberal system there are
gains TO all. Since climates and soils differ, so
DO The wants OF men; if it were not so we should
not have reel proca wants. and reciprocal means
oil gratifying one anoiher's wants Hence arises
commerce, which is but an exchange of equiva
tents.
The money paid for foreign goods is erroneous
ly spoken of as SO much given for the encouraoe
meht OF foreign industry to the prejudice of our
own for our own labor has earned il. and maid
the price for it. If the commodities were dolIars
no doubt would be expressed. TWho quarrels
win. or disputes the patriotism of any capitalist
VINO invest ms money in whatever quarter of the
globe he thinks best for his own Interest?1
is not the doctrine of prohibition preposterous
IL all nations adopted it, then they would be pros
Gus IN The proportion in which they abolished in
tercourse with each other and the less commerce
the better The laws of Spain are bad because
they are restrictive, partial, and prohibitory The
general sense Of the age sets in strong current IN
favor OF freedom of commercial intercourse. and
unrestraihed individual action Men WELD nm
their notions Of monopoly and restriction SLOWLY
and reluctantly. but they cannot stand the general
tide Of opinion.
The foreign commerce of the country has mt
even The shadow of protection. " 1t goes abroad
upon the wide sea to make its own way, and
earn lis own bread, in professed competition
with the whole world. Its resources are it's own
frugahty, It's own skill, its own enterprise IT.
hopes 10 succeed, not ny extraordinary aid Of gov
eminent, but by patience, vigilance and toll.
Il his right arm OF the nations safety strenothens
It's own muscle by its own efforts, and by unwpa
rled exertion in its own defence, becomes stro,,o
for the defence of the country"
In speaking Of the proposed augmented duty on
cottons, he says: " | consider the cotton manu-.
features not only TO have reached bot to have
passed the point Of competition I regard their
success az certain, and their growth as rapid as
the most impatient could well expect" His
own constituents are largely Interested in mann
featuring but he cannot consent that other inter
esls should be sacrificed in order to give addition
al protection. A manufacturing commnnitv or.
joys many advantages, hut " we NAV talk "a we
will Of well fed and well clothed day aborers or
journeymen; they not after all to be COMPARED
either for happiness or responsibility, with him
who sleeps under his own roof, and cultivales his
own fee simple Inheritance"
Mr. Clay had challenged his opponents to show