The daily union. [volume] (Washington [D.C.]) 1845-1857, 1847-07-09
CITY OF WASHINGTON.
FRIDAY NIGHT, JULY O., Is47.
Free Trade.

Evening Mirror" that Mr. Maegegor has Just published
his work on the Progress OF America" in two large
volumes of 5000 pages- 800 in each We indebted
| extract from this production:
eff there be course of policy more than another
which We would advocateto which would devote our
abors in order TO aid in obtaining the only certain guaan-
y OF peace and friendship between great nations who
in language and race peopethat of policy
Is to establish the least possible restrictions the inter
change OF the commodities of the country in the other
upon the arrival at, remaining ill., and departing FROM Of
the ships and citizens of America in every British port and
place in the unveseo British ships and subjects every
port and place within the American regions If the
history of the world presented States position and
condition TO do each other the possible good the
greatest possible evil such the actual positions and
ual conditions of the United Kingdom and the United
States These constitute subjects of serious consideration
Tor the governments and for the people both England and
America. Awful indeed, would be the consequences if
those wild or foolish politicians, who, from Ignorance,
vanity ambition, with dangerous and unprinciped
designs, would involve British and American Powers
the certain caames of war; by msguidng the people and
the governments of both Countries
But the principle of free trade is not only calculated TO
bind two commercial nations in the bonds of peace but
to promote the prosperity of each other Nothing
clearly shows its benefits ourselves than the operation
OF the standard act of 1885, passed under the
present administration All the panics which were orig
nay propagated by the friends of the protective system
have been dssipated. AS the "Trenton Eagle" truly
says:
From all quarters of the United States we read of manu-
factories building, and large dividends declared Prophe
cies OF ruin and desoation, which arise from the
recent tariff like the malaria from the Ponne Marshes
hushed and tranquil prosperity pervae the land
Cannot the manufacturing organs render to the admins
traton few feeble thanks for such beautiful state of
things, only capable of injury and do good ~
No mic Oh, tbo t,of,ro
coal; but this has disappeared. Iron works are
established in every direction and the capital already
vested in them in sections of the country exceeds
all previous calculation. For instance, the Baltimore
American of this morning has the following:
Gan official report the Legislature OF Tennessee
down the capital employed the iron business $iloo
900, and the annual products at the amount Three
lourhs of this capital employed in Middle Tennessee.
On the Cumberland river, Nashville there Fl blast
furnaces ii FORCES, and splendid rolingmi which yield
annually about s300000 On the Tennessee river, there
IL furnaces and FORCES and bloomeres, which pro-
duce about 900 tons annually"
The great danger we have now to fear, in some de-
gree from the very profits and prosperity which of
the branches Of manufacture enjoy, We bold
and enterprsng people, full of spirit full of
The consequence of this disposition and capacity is, that
we are apt overdea and ovedo everything that is
most prosperous If adventurous capitalists do not
take care they may establish too many manufactures of
particular descrptionsas they did of old; and then they
will attribute their reduced profits to the imaginary
want of protective system, than to the exuberance of
their own employments. We have no idea how far we
have approached the maximum of profitable occupations.
But there is certainly maximum beyond which we
cannot pass without reduction of profits, perhaps
comparative loss We throw out the suggestion, and
leave the application to men of more practical under
standing than pretend to possess In connexion with
these general views, lay the following remarks from
the Baltimore Argus before our readers:
From the Baltimore Argus.
THE DEMOCRATIC TARIFF.-Seven months have pass
ed by since the democratic tariff into operation and
ample has therefore been afforded for those excessive
portaons foreign goods with which the wings said
lcountry to be inundated. voyage 10 Europe and
back be made in three months and if all merchant
vessels had been employed in the importation OF foreign
manufactures since the first of December last as the oppo-
of the tariff predicted, markets would, at
this nc be overstocked with them. But thappens that
wing friends though very expert prophesying
and ruin the fruits OF democratic measures, have never
vet lived their prophecies fulfilled and happy for
people that it is They have not countless
foreign landed wharves be sold fifty
cent cheaper ronmasers afford to make it,
is there the slightest prospect that such an event will
occur. The manufacturers of cotton and woolen
goods have witnessed material increase of the mpora
OF those commodities, Notwithstanding it pre-
sumed that extraordinary sales of agricultural products
i'm the British ports would have to be paid for that way
and render such an increase unavoidable.
From the port of Baltimore, the exports of breadsus and
products of the soil have been altogether unprece
dened for eight months past and the increase in
imports suciento attract attention We there
fore nothing create an apprehension that the future
trade between the United States and Europe will disclose
anything disadvantageous any branch of home anufc-
lures the contrary have every Tor saying that
the brightest prospects before them, if they will only
have prudence overdo their business So far as
IRON is concerned the price which it now commands
when we take considerable the diminished cost OF its
anything within the recollection of
she Oldest nhabitant; and in Europe, the demand for
so great that be here and solo, except at
masters This European demand for IRON is likely 10 con-
time years, of the number OF railroads that
are now being there, and the still num-
Der that must in time be undertaken and completed.
The great profits being realized by the iron-masters
are the theme of conversation in numerous places and all
that they have to that superabundance of home
competition which the erection of additional toges
and furnaces may create That the cotton and woolen
manufacturers are also driving very profitable business,
is proven by the number of factories going up
in almost every of the country This erection OF
new factories, and building of furnaces, every day.
shows sensible manufacturers entertain fears what
ever from the operation of the democratic tariff and are
about the best commentary the wing predictions and
clamors of last year that could ask for True such
treatment from manufacturing interest, and such re-
pudation of all their high tariff arguments by those whom
they prossed be laboring serve, is cruel in the
eme but have influence that very respect
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