The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1846-07-02

Feet @ Ire tnA1A Fslass g kas afhraes
Wh.l laarskle pgaslss' Iln@ ahs 6nsg
ms.I rare - prscsF ~hsns 90 tks
~rfiss. tae Au.x Eem-snst IL same. sna
Il. siFrea I'D bees. nHt 70 iersTsss. hua -
AsiRg ds~a aar pssss Issa shsss. LRndEed
4 rra seat.-sEtm aAaink ernts dawn II So
ytn snd : hslf seaas per ssSa. aid lh:s
w'ss rnbbess sEll lnsdss. And ELL -
1 geallemsrsssd Il = - % shs0fdir. lsirh
10 nan r0aid sxsl!sw. - ssy fhss ne
higher me Proiscngs daily he loser ne
pucs. Now. ~. =. would vealure u
say. that Il lie ta.s o. iron and - saaa-
nIaciuus sefe increased to-nosros fss'
hundred rer stnt.. he rapid rush u cap
nal lnle .hss business. and tie $50 ~.
ere &C of supply would t. such, aid ihr
consequent reduction u price 80 great
that 40 Unrsrd States Mould SION Supply
he wuid w,sa iron. il capacity fl iis
!. Truisc,ian beng unl,mlrd. lie hsd
ssslsd fairs. toaihR ina high duties lad
prn.lured. Ia ,pEi e.. csa The gentlemen
dray Ihsml Thssr hey stand on ampr-g-
nahlr foundations. firm as lie halls! L..
tie Rsul'raaa AID his lrrnds Gisproxs
them - they ran. That such - the pase-
l,eal operation oi the system is fuIls estsh.
isshsd BIZ Ihe f.rs, that sh,i.I manufse.
lures nj various kinds had declined 20 nne
fourth Of lhsif inrmeE price. agricultural
prodsee and the scdges OF lsbM had un-
derssni little o. no reduction. oSing 20
The constantly Increasing home demand
for both, resulting IRON The protective pO-
licy.
But he wished 10 be understood cor.
recily. Mr.. $. did not say that the effect
OF all duties was 10 diminish prices; on
the contrary, he did no. deny that il was
the effect of some dui rs 10 increase pTic-
es. But what he said was this: llial'du-
lies levied on articles We could make. to
the extent Of our own wants, and with .
view 10 project our own manufacturers,
did in sll cases operate. in The end. to los
er prices. By increasing capital. Compel.
ton. and supply. Duties imposed on 70.
reign articles which We could not male
FOR ourselves, would generally increase The
prices, because they did not'increase The
supply by increasing home competition.
His pos lion was this: duties levied Tor
re,enne on articles we canho. produce III:
creased prices; whilst protective duties;
levied on articles we can and do produce,
diminished price. The truth Of Both thrsr
1 propositions was proved by undenisble
facts. and BY all experience ndrshe
reason was just as obvious a. the fact.--
When the supply Of all article was not
equal til the demand. he admitted the i'm
mstlia.s effect Of High duty might ior
The moment increase the price and profits
Of its manufacture, but This very increase
induced capital 10 rush into il, and the
competition and increased supply result
| ing. soon brought down The price and pro-
fills 10 the loves. rates, proving the ruth
OF The proposition, that the "higher ~
uuty, gnr Ibwer ui5 price. -rs.s fsyfsU.
siiinn If duty on an article produced
here. gave an impulse tn American enter.
i prise; an increased supply was the na;;i.
raj consequence and increased supply.
while the demand remained the same.
must always diminlslT prices. Would The
! gentleman undertake 10 deny tina, the pro-
por,inn between demand and supply re.
guMsed price Mr.. S. hardly though.
that he would go 50 far as that. But, as
the gentleman had asserted tina, duties
raised prices, he was botnd tn prove the
truth Of his position by quoting facis.--
The man who asserted thing 10 be- fact
was bound 10 prove II, in court or out of
court. As lawyer The gentleman knew
this TO be so. Now, Mr.. s. challenged
the gentleman 10 put his finger on'oae so-
liiary case where Ills assertion was true. :.
What one protected article. the product OF
American skill and industry. had been per-
manen,ly incr ased IN price, after tie du.
ties, however high. had been frs, IMPOSED
f"r its protecslon? Nj. S: challenged the
gentleman and ali his friends ,~ pOnr To
one. Name the arlicle--a pin or nee
die. The gentleman had not--he could
not do IT,. And yet he stuod up in the
face of The country and the world, and
! advanced The position that protective du.
ties always Increased prices. Mr. S. maize
his appeal to the facts. Let.ihe gentle
man meet him with facts. lie could not;
he dealt altogether in assertions against
facts. Now, II Mr.. s. had proved, pro-
teciige duties had no, increased hut red,1.
ced prices. what became of all this clam.
or abou: high prices, robbery. oppression,
anil piunt!er! II vanished Tito Thin al. :;
| il had no foundation 10 stand on. and the
gentleman and his followers were bound
by their own principles 10 60 for The pro-
'eciive policy, which reduced the prize OF
!. manufactured goods BY increasing The sup
ply; whilst. on the other hand, II increa
sed the price by Increasing the demand
fur agricultural produce. and enhanced The
wages of Tabor BY increasing its employ
! ll1ents.
| But the gentleman had also said. that
while the tariff was oppressive on the in
.eresis Of agriculture and of labor, it was
highly beneficial to invested capital to the