Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1847-07-30
MORE FROM OUR OLD FRIEND, THE COMPLETE

MORE FROM OUR OLD FRIEND, THE COMPLETE
LETTER WRITER.-It was more than we ex-
pected of Mr.. Clay, that he should favor the
public with an explanation of the reason why
the new tariff, which according to him, ought
TO have ruined the nation, had been actually
productive of so much advantage. This is
matter concerning which we thought it pro-
babe that politician of Mr.. Clay's character
would have preserved prudent silence. He
has spoken out on this subject, however. A
Mr.. Bragaw, of Salisbury in Connecticut, with
a natural anxiety to advertise his wares as
widely as possible, sent Mr.. Clay a pocket
knife, of American manufacture, accompanied
with letter, to which Mr.. Clay has written
an answer, lately published in the Wing
prints. Mr.. Clay gives, in the following pas
sage, his solution of the difficulty which SO
much embarrasses his party:
a. have been very desirous to learn the eff
| feet upon American manufactures by the last
tariff. But Europe has been so occupied with
supplying herself with necessary food, and
our country has been so benefited by the
high price which all articles of subsistence
have attained, that the competition between
foreign and domestic manufactures has been
much less unequal than it would otherwise
have BEEN The struggle SO far has been be-
tween well-fed operatives; between capital
diverted from purchase of the raw material to
the purchase OF bread, and capital greatly aug
mented by the sale of food and between man
ufacturers working short time, and full time.
Whether, when Europe is no longer starving,
and shall be again blessed by Providence las
| hope it will beg with abundant harvests, we
shall be able to sustain a successful competi-
ton, remains to be seen. ] fervently hope
that our manufacturers have struck such deep
and strong root, that they will be able to stand
up and flourish against all adverse causes
So the ruin is postponed-the eclipse is put
off till the weather is favorable and the people
re at leisure. We are not to be ruined till the
potato disease has ceased its ravages. When
the potato produces its usual crops in Ireland,
Belgium, and Germany, the period of bank
ruptcy, and distress, and want of employment
is to come upon this country. Sometime al
ter the middle of the present century the ma
ton is to be ruined to its hearts content, I'M
leSs-for Mr.. Clay is cunning enough this
time to leave an opening for escape-unIess
our manufactures should in the meantime have
struck strong and deep root, that they will be
! able to stand up and flourish against all adj
verse causes. If, after Europe begins to dig
it's usual quantity of potatoes, the wheels of
our 1dClOTleS dIc SUN lulllIIlS, tutI SplLuIeS
hummng, and their looms clashing, the rea-
son is to be that the manufactures have struck
such deep and strong root as to defy adverse
causes. That such has been the case at any
time within the last ten years there is not a
doubt, and it will be justas true after 1850 as
it is now.
But Mr. Clay traces the success OF our new
tariff to the fact that there has been little COM
petition between domestic and foreign fabrics,
on account of the deficient harvests of Europe.
So far is this from being true, that the dearth
in Europe is one cause of an increased impor-
taton of foreign manufactures. We send out
bread and take manufactures in return-not
to so great an extent, perhaps, as we ought
not TO so great an extent as if the duties were
as they ought to be, and as we hope they
soon VIII be, more moderate; but still in con-
siderably larger quantities than if foreign
countries had not purchased so largely of our
grain. The circumstance, therefore, to which
Mr. Clay aludes aschecking competition, has
) actually increased it; and as soon as the har-
vests of Europe are more abundant, and its in.
habitans become less dependent upon us fol-
supplies, we may expect that the competition
will in some measure Decline
[New York EUening Post.