Burlington free press. [volume] (Burlington, Vt.) 1827-1865, 1846-08-28

cTccs Oh l'iONlucnCc. ne Is Il ITuc I lF stlin
Extracts from the Speech Of Mr. STEWART, Of Pa, on
the Tariff
The Effect of Protective Duties on Prices.
The first argument of the gentleman had been
the position, that the effect ola protective tariff
was oppressive. especially on the poor. aud on
the interest Of agriculture and labor. How was
it oppressive upon these? No other interest
in the country was half as much benefited
BY the tariff as the farmers. and mechanics.
and workingmen. The gentlemen said that it
injured them by increasing the price of mnnniac-
tured commodities: for the grntleman' assertion
WIS. that protection did invariably increase the
price of the articles protected. Now. in reply.
Mr.. s. would distinctly put forth this assertion.
to which he challenged contradiction. viz: that
there never was protective duty levied in this
country. on any article which we could and did
manufacture extensively. which had not resulted
in bringing down the price of that article and
he challenged gentlemen to point him toa single
instance in reference to which this was not true.
The prices of comnodies, instead of being raS
ed by protection. had been reduced to one-third,
onc-iourh and even to one-tnnth and one-twelith
part of what had been paid for them when i'm
ported from abroad The gentleman. if he had
walked up to the Fair might there have seen
American cotton. such as had cost. when the
enormous minimums were first imposed for its
protection by Mr. Lowndcs and Mr.. Calhoun.
cightv-five cents yard, now ready to be deliv
cred in any quantity and of better quality. at
seven cents and wooen Jeans. sold in 1910 at
sixtv-tive cents, now selling, of superior qualIv,
for thiry-tive and these articles were subject to
the highest duties in the whole cata!ogue-prov-
ing beyond all condensation, the truth proposition
denounced as an absuriy py the gentleman,
., th,, Inf rit.
; prices. when levied on articles which we can
supply to the extent of our own wants. Here
was the result of American industry. skill. and
improvement. when left free to act ont their own
energies. and occupy. fully and freely. their own
appropriate markets. without the disturbing and
destructive composition of the paupcr labor of
Europe Mr.. = had mentioned the article of
cotton. because ii afforded striking illustration
: OF the general doctrine showing that the mlni-
: NUNS, the highest protective duties, had prodnc-
: ed the greatest reduction of prices. But the
: same thing was true, to greater or less extent
with respect to every protected article in the en-
- tire list Mr.. s. stated incontrovcrtible matters
u of fact. lie challenged contradiction-hc court
ed invc stigation-hc deticd gentlemen todSprove
: an atom of what he had asserted. And, To put
l. this truth in the strongest light h. repeated that
!! the highest and most obnoxious duties. thosS alb
i horred minimunis, against which gentlemen had
., wasted such furious dcnunciations. presented
u precisely the very cases where the reduction OF
v price had been the greatest. Those duties it i,
u said, now amounted to two and three hundred
per cent. ad ralorem. And why? Because they
e were fixed specific duties. They remained -ti
l. tionary, however prices might change; and. o
course, As the price went down, the duty bore
larger and still larger proportion To it. At first
a. the duty half the price of the article thu
II price declined. the duty became equal to the
M, Than hn,n
" then double the price; and. at length, tr Ill" :an
then gentlemen exclaimed in horror, "WhIt al
u abominable duty 1t is three hundred per cent
v on the total value of the article What horri
= Bile profits How the duty must raise the price,!
T. when. all the while. the duty remained the same
u and its effect had been, not to increase, but t,
" bring down the price to one-third ofwhat it wa
u from thirty cents down to ten cents per yard
and this was robbery and plumber And still
a" the gentleman said it was an absurditv. which n
man could swallow, to say that the higher tn
=, protective duty the lower the price. Now, Mr.
~ 5. would venture to say, that if the duty on iro
IN and its manufactures were increased Tomorrow
" five hundred per cent, the rapid rush of capita
n into that business, and the vast increase of sup
IT, ply would be such. and the consequent reduction
u of price so great that the United States woul
soon supply the world with iron, its capacity 70
!, its production being unlimited. lie had state
III facts. showing that high duties hal produced Low
prices Can the gentleman any them Their
they stand on imprcgnnbr foundations, firm a
~ the hills. Let the gentleman and his friend
:, dSproyc them as they can That such is tn
~ practical operation of the system i fully cstal
e' lished BIZ the fact that whilst manufactures G
various kind, had declined to onc-iourth oi thei
ut former price, agricultural produce and the rag
- of labor had underwent little or no reduction
a. AZ owing to the constantly increasing home demin
~ for both, resulting from the protective policy
IL lie submitted il as "A matter of fact, known t
u every man, woman and child, in the countr,
" where manufactures existed, that they pdld les
NJ for manufactured goods, and recired mDrs 10
cu their labor and their produce, owing to an ii
creased demand. Yet, in the face of these uni
versally admitted facts, we are told every day O
III this floor, that the tariff increases prices, an
We robs and plumbers the farmers
re- But Mr.. 5. wished to be understood correctly
Ut lie did not say that the effect of all duties wa
IL to diminish prices on the contrary, he did nc
r- deny that it was the effect of some duties to in
H. crease prices. But what he said was this tina
or duties levied ON articles we could make, to tn
NJ extent of our own wants, and with a view L
, protect and increase our own manufactures, dl
nc in all cases operate, in the end, to lower price,
" by increasing capital, competition, and supply
IL Duties imposed ON foreign articles which W
er could make for ourselves, would generally IN
a. crease the prices, because they did not ncreas
= the supply by increasing home competition. Iii
N position was this duties iered for rereHre on ar
10 iires ce cannot produce, generally increased Pr
o. css arhst protective duties, ieried on articles 10
be can md dp produce, dirays, in The end, dimnishe
OF prices The truth of both these propositions wa
proved by undenable facts, and by all experience
DIX Aud the rea son was Just obvious as the fact
ny When the supply of an article was not equal
the demand, he admitted the immediate effect G
ke a high duty might for the moment increase tn
- price and profits OF its manufacture, but this Yer
I'D Increase induced capital to rush into it, and tn
= competition and increased supply resulting, 500
IT. brought down the price and profits to the loves
rates, proving the truth of the proposition, thu
re- the higher the duty, the lower the PRICE" Til
his imposition OF duty on an article produced her