Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1846-09-22

,oil ,oAr cyn,r,cf Ia Russia, tor instance a. enc
$500. - me rxnor,er 10 America al another, anc
= 10 home dealer a, a hind. Any one al all &C
o,ain,cd with the manner IN which business ), =
done. will see the impossibilliy oil Inc 'h'nn' !.
FIR instance, manufacturer were 10 se'i "
merchant engaged IN the American Iaic, soou'
Al A chearcr rate than they were sel'ins 'os'''
home merchants, and 10 other tAPoi'cis, "ou.
hs M, dispose Of them al homel Is Il mol eVi
rc,, then ina, the British manufacturer had net
,.r abandon his marke, in this country altogether
han make even the pal,ry reduction upon l,''
an,;r. nroduction ofIhree per cent II woua os
>x,.,,r az we'll for him 10 burn ms e3po!I'
,rhichh lad been in the habit Of sending 10 thi'
coun,ry. for the reduction vi three per cent. uPof
his whole production would equal the value
rbem. In answer 10 this, the gentleman IRON
Connecticut said ,..,h:,
al, is well known fact that The marker OF N
country is BY lar the best and largest which vi
Britain has abroad. Now IL was wen anu tiui,
said BY the honorable gentleman from yns,n'a
(Mr Bayly,) in his discussion o. me suu!e.' y
the corn laws, that The price OF the a'Hele -
whea, at home was affected by ire P!ice auiu ,t
and although our surplus products exported beal
I'm, small promotion 10 the amount produced
and consumed al home the price o. ,ha' sulai
surplus influenced and oilen controlled Inc piics
If he entire amount raised This principle Is
undnnhedlv correct although | totally differ
from him in tho reasoning based upon IL. Now
sir il is we,l-known tact, lhis connliy Is oy la
III b.s, consumer which Great Britain has iol
her manufactures and that the amount exported
10 This country is quite sufficiently large, II rc-
,.uced in price by competition here, 10 aecl the'I
market al home, and in Other foreign couh'IleS'
In The ARGUMENT TO which The gentleman refers
showed wby the result wopld hc produced IN me
.l..AN. nj
case Of our agricultural products anu WY =
would no, in The case OF manufactured. oh 'ha
occasion said
"Bu, is il true that the effect OF the duty IS !
nsl,ne tn,eisuer 10 sell lowcil In England
for a long time, The pressure OF population mas
been so great. and The competition - active, ma
prices had reached the loves, limit before Inc
enactment ofour Tariff. Besides, the proportion
which We take OF British eoods-aud We take
more OF them than OF any other naicn--in c""'
pari>on with her consumption a home, ana mel
expoJts IL her colonies, and IL other ioreish Nd
lions than ourselves, is very inconsdeIdble; ana
j, is not probable that, TO gain access 10 our mar
ket they would submit 10 a reduction on The srea
mass OF her production They would lose less by
giving IN our llade altogether. Bn! II may I've
lid, that have already proved that Inc price OF
the quantity exported, which is fixed By The price
in the foreign market, fixes the price Oh Tue en-
lire production. In the case oil The asricuHutis'
Of this country, that is So but IN the case IN
hand il s not In the first place, onr export OF
agricultural produce bears much larger proper
ZION oour entire production, than The exports from
England 10 this country OF her manufactures GOES
10 The entire amount OF her prodnsuon. anu ~
course eyeTts greater influenced me price. IN
addition IL this, the farmer cannot regulate MS
supply with The demand. The farmers are sfai
tered all over The land and they cannot ov comb
nation adjust the supply 10 The demand. IN thi>
country where most OF the land is cultivated 10y
Tie labor OF The owner OF the soil be mas no other
occupation than ils cultivation, and he makes all
he lcap withou, reference TO the price. Indeed,
when the price is low, so far from making less,
he tries hy increased production 70 make " ior
The smaller price Hisro,aton OF crops IS hxei,
and he cannot well change them Hiscfors are
pitched but once a year. and when pitched, theV
must I've saved. The quantity oil The croPcepends
upon The seasons; and Tor that and the oihe: rea-
sons have given, the farmer cannot adjust me
supply 10 The demand. Bnl il is Otherwise with
the manufacturers, particularly oi En2land
They are conoIeoaied together IN large towns,
and they can combine. The amount OF lheir
production does not depend upon The seasons, or
oiher casually. They DO not own Inc labor, ana
are not compelled 10 ind Tor II employment.
Whenever al any season OF the year, they hnd
ne supply is likely 10 oulrun The demand, and
hat they will lose more by the consequent fall OF
prices than they will gain by increased produc
ion. lhey can shorten work, curail expenses al a
laws warning, and adjust the supply TO The de-
nand This constitutes The difference OF the Two
asses"
II this reasoning required confirmation, II
would lie found in fact slated BY The gentleman
himself. lie says:
an relation 10 some articles, actual combna-
ions have long existed in England 10 prevent inc
supply exceeding the demand. For instance
here are bat seven establishments IN rnsidhu
md Wales for he manufacture ~ iaihodo 'ion.
The proprie,ors Of these establishments, and oi
l,her extensive manufactures OF IRON, ID me car
Il stages of is manufacture, amounting ~ AL 10
put twenty thee. have their regular meetings ior
he purpose Of preventing what they call an ex-
ces,ive supply, aud Of controlling The price Of 'he
article in market They check The manufacture
when il is excessive, and, under their arrange
ment and direction, The fires Of Just SO many lur-
naces are Quenched as are necessary 10 accom-
psh this result.
But how is the iac,2 The gentleman from New
York Mr. Colln] mas shown that there mas oeeh
no reduction Of price in the foreign marhe' s'neo
ne enactment, of the act Of 1912. The gentle
man from Vermont INT Colamerl accounts lor
his paradox in a different way. lie says ,ha'
protective Tariff gives The American mann'aI'u-
-er more comple.e control OF me nome hialHe'
enables him 10 sell more, and therefore to make
more money on smaller profits, ana ne 'llus,d'eu
by a case Of this SOFT: lie says maker oi SHOES,
for instance. could make more money in selling
,ne hundred pair of shoes al six per cent prom
,hap fifty pair with ten; and consequently ne
could sell cheaper in the more extensive market.
The illustration is very WELL il ii suited The case.
PM Il does not. The difference OF our imports
~ manufactured articles under high ana low
Tariff has not been estimated higher man Ten ar
fifteen pcT cent, which, upon car enliie imports
M manufociured articles would be from hive
m;llions 10 six millions. This sun, upon The
entire amount of our home produrton, would
no, be more than two per cent, u mat. Now,
can any one believe that such small extension
OF The market would enable the manufacturers 'c
make any percept'ble diminu'ion IN lle'r prices
Two p,r cent. reduction in heir profits on their
entire production would cover The whole amount
Of The difference of import. And The Increased
nrofi, which thew could make in selling the artl
ces which would make up this difference i loo
small 10 calculate A post ot len per cent. upon
these ten 81 fifteen millions would not be equal &c
one-third al one per cent. on our entire production
Bul lei us examine this proposition little more
narrowly. ithis strange effect is prodnced, how
is The price Of an article Is composed oi three
ingredients: first, the price OF the raw material
second, the wages OF labor; third the proh's q
The capitalist. For instance: the price OF III" Goa
have on is made up OF the price OF The wool, III
vases Of the labor which has converted il into IL
present shape, and the profit which the capitals
has made. Now il the effect ii the tariff Is tt
caeapen The price 81 cloth, must he BY cheapeninc
the price of some ore Of these component parts q
il. Well, which islt' Is it The price Of the raw
material which is reduced They will not say
that; for they tell The farmer thai the effect OF The
tariff is 10 give him terler market, and berel
prices. Is il The wages Of labor which is reduced
they will not say that Tor they argue that The ef
ecl OF The tariff is 10 increase wages, and keep
them above the level ot The pauper labor oil Eu
rope Is the effect TO lessen the profits of capital
They cannot say that; Tor they argue that, with
out protective Tariff, The capitalist would he ru
ined, and lha, il is necessary 10 enable him 10 car
~ on his business. These gentlemen bring them
selves 10 The conclusion that. although The cfiec
OF the tariff is To increase The price OF every in
sredicnt which constitutes the price Of the entire
fabric. YET lha, The price of The article itself re-
duced Is il possible for absurdi'y 10 60 iarhe
than This Z or all Tho na raIuxeS which have beer