Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1847-12-24

in 1851, and if our revenue augmented IN the |
same ratio in succeeding years as IN the year
ending on the 1st OF December, 1847, cornpa-
red with the preceding year, our revenue from
duties in 1854 would exceed that OF any other
nation from the same source. 1t is not con-
tended, great as the future augmentation may
be as to imports or exports, tonnage specie,
and revenue, that the advance Will be SO rapiu
as it was this year, when, with the snackles
stricken from commerce, we bounded loF"afu
at such wonderful rate of progress But tnat
the increase under low duties in serles OF
years will be regular, rapid, and progressive
is not doubted Before the repeal OF the Brit
ish corn-laws, the augment here tor hlgh ou-
ties wasas measure of retaliation, Dy clooi''s
our markets against British tabrcs, 10 Io'ce
her to open her ports to our breadstuns anu
provisions Well, she has thus opened her
ports freely, and invites the exchanges; ana
yet it is still contended that we ought to keep
out her fabrics by high duties, and OF course
induce her to re establish her corn-laws.
I This is new commercial era, and there are
many causes combining at this time TO aug
ment trade among nations-the reduction or
repeal of duties, the construction of rail roads
am canals to bring the products and fabrics OF
all nations from the interior to the seaboard,
sells to facilitate and hasten the exchange, and
with China, containing nearly one-third of the
population of the globe, brought at last within
the range of liberal exchanges at low duties
Our canals and rail roads, bringing our own
products and fabrics from the interior to the
seaboard, or lakes and rivers of the west, the
points of distribution for domestic consump-
ton, as we'll as for shipment in exchange for
the fabrics of other nations, are of great and
increasing importance. Without these roads
and canals, there are very many points where
coal, and lime, and iron, and other materials,
could not be brought together for profitable
use in the same establishment there are ma
ny farms and manufactures whose products
and fabrics could never have found a market
and the coal and iron of Pennsylvania and Of
other States must have remained almost use
less treasure. This, in itself, is great change
| in favor of our domestic industry, and is a far
better protection to all the products and fabrics
of American labor than any restriction which
may be imposed by high tariffs; and, in truth,
dispenses even with the pretext for any such
policy, which, when the internal Communlca-
hon has broug ut our own products or fabrics
upon the seahoard, would arrest their exchange
there for the productions OF the world. The
doctrine that we cannot encounter foreign car
goes in fair and open competition, is as erro-
neous and as injurious to the national charac-
ter as were the fears of some in 1912, that our
gallant navy must be retained within our ports
: and harbors under the protection of their forts
and ordnance, and dare not venture upon the
ocean, to meet Oh equal terms, gun for gun,
! and man for man, the navies of the world. If
our country is inferior, and cannot meet, al
home and abroad, upon equal terms, the pro
ducts and fabrics Of other nations, it is time
? that we should prepare to do So Protection
may exclude rival fabrics and shrink from the
! encounter, but we can only assume the posi-
ton of an equal by trying our strength under
free trade or low duties. This we have done
and succeeded, and have thereby placed oul
own industry upon that solid basis which fears
g no competition.
! We knew not our strength until it had beer
tried by low duties, and proved that protection
is unnecessary We are not inferior 10 othel
r nations in the arts or sciences, in war or ir
peace, upon the ocean or the land, in agrcul
ture, commerce, manufactures, or navigation
e We have the raw material in greater abun
O dance and at n lower price, cheaper subsis
S tence, more mineral wealth, more fertile lands
n yielding from better soil and warmer SUI
# more to the acre and greater variety Of pro
h ducts, with exemption from costly government
# and oppressive internal taxation; at least equa
: skill, enterprise, industry, energy, perseve
d rance, and inventive genius; our workin,
o freemen, more vigorous and intelligent, an
l. performing in day more effective labor, wit
IS better and treCr institutions, and with publ
e and individual prosperity, and capital aug
Is mentlng in greater ratio, than in any othe
h nation. We require no protection, becaus
h our industry and prosperity repose upon tn
g lmmovabIe basis of superior advantages an
Dt advancing as we are more rapidly than an
ct other nation in all The elements of wealth an
Or power, our exports, imports, tonnage, and spe
s, Gle, as has been already proved, will soon ex
eel coed those of any other country, and the price
in be regulated at the creditor city of New York
r.. Restrictions upon the commerce of the Unto
,g are especially restrictions upon her commerce.
e. and have impeded her advance towards her des
- tiny-predicted in my last report-as the Ger
II, ire and emporium of the commerce of tn
ed world. For that high position, she possesse
ar more natural advantages and greater elemen
it of augmenting wealth and business, than an
in other city.
MS Let US remove the distractions which big
n, tariffs have erected round her magnificent ha
IS Dor. Let her have free scope TO develop h
&c transcendant natural advantages, and she mu
iu become TIE depot or universal COmmerc
y where international balance sheets will be a.
It's justed, and assorted products and fabrics
OF all nations interchanged; the great REGULATE
US of prices current, and the barometer of the e,
is changes of the world, The time is approach
n ing when bill upon New York will bring
on higher premium than bill upon any 9th
re city, and when the tribute of millions of do
Isl lars, paid by US to other nations upon e.
x change, shall! be paid by them TO us, and flo
Is INTO our own great commercial emporium
Gu Whilst New York must contain a large pop
en- latlon. as well as New Orleans, the princip
Isl depot OF the mighty west, and many other {
gle ties, they will all be small indeed. compar
I'M with the masses of the people of the Unio
x who will go on augmenting in correspon
TIC ing ratio, still leaving an immense majority
ed the nation engaged in agricultural pursuit
n and supplying with their products, not on
ne our own markets, but those of other nation
IS; IN an ever-lncreasing ratio, by reciprocal e
o. changes under free-trade or low duties
ne though it must crafty all our people that
by American city should become the centre
os1 universal commerce, the advantages will n
an be limited to that place; but all the poop
IN and cities, and States of the Union, will fe
ell the favorable effects of this great revoluto
al Every branch of our industry will be enlarg
OF and invigorated; and foreign cities, havi
nd ceased to control our commerce or currenc
OF will no longer sink at their pleasure. and wi