The daily union. [volume] (Washington [D.C.]) 1845-1857, 1847-07-16

Some OF the federal journals have recently exulted
the recent decline in the price of of agri
cultural staples, which has taken place consequence OF
the prospect of abundant harvest in Europe, if such
fall in prices in itself reutaton of all the prn
cpes on which the present tariff is founded We invite
the attention of such federal cavaliers to the following
well put statements from the Journal OF Commerce"
The whole operation shows how utterly alacous is the
hghtarif doctrine that the foreign market for bread
stn &c is of little consequence, because the amount
ported is but pittance, compared with the amount con
sumed at home This rank heresy in political economy
has been scattered the winds by the experiment OF the
last few months. Everybody knows that crops last
immensely large and that without foreign de-
mand flour could have ruled higher than 81 81 so
barrel But instead of that it went up 50 and
What caused il The demand from abroad. And what
has caused decline of more than SO barrel? The
prospect of good crops the other side The depsed for
egn market, them is the regulator of our drives
-four up 50, or lets it drop half that Even
now the foreign market keeps the home price 81 or 81 30
higher than it otherwise would be-
We have never commended, pretended that the late
ravagan prices of breadstus exclusively the result
of the tariff five have, fifty times,' the Provi
dence paper implies it doubtless quote single in
We have said, and repeat it now that "Provi-
dence having withheld its blessings from the people of Eu
rope, feeade mot the tariff of 1916 alone) allows us to
reap the advantages of the caamW aud allows them to
buy food of and to mitigate the calamity All the
benefit derived from the scarcity of breadstufs in
Europe, and all the benefit which Europe has derived from
Tor the mitigation of the calamy the result OF tree
trade, less complete Had the same rate OF duties
nd vaorcm been charged upon breadstus in Europe, as
charged upon various articles of European manuac-
by the tariff of 1912, (or the restoration OF which we
suppose the Providence Journal is daily and nightly sigh
ng) not a barrel bushel OF breadsulfs could have
been sent thher from the American ports unless our own
prices had reduced ehalf unless the prices in
Europe had been doubled. Let this be contradiced if
can be.
Ofcourse upon articles OF export from this country,
own tariff upon imports have only indirect effect
though this indirect effect may be large. When the tariff
deprecated reduction of duties on the ground that
would nundae the country with foreign goods, they as
serted the only fact which necessary TO prove this lnd
rect effect; for it is law of trade, established blythe expe
of ages that facility of payment increases the price
of the articles purchased If sell only for specie,
sales be small and prices low IL we buy little,
we can expect sell but lille. Very high duties check If
thew do not prevent moraons and for the same reason
they diminish exports, both in quantity and pr They
do it, likewise, liable to do it, by reciprocal legise-
tive action. High duties beget high duties in return In
the approach towards free trade England generously led
the way and breadsus among the articles particu
lary favored The duties these articles, on being inn
| ported into England, little more than nominal
and be repealed altogether. Other European
nations, partly fom necessity, and partly through Eng
lands example, have adopted similar course-at least
temporarily. But what assurance had we, that with
ont corresponding action on our part within
asonable PERIOD England would not return to her old
from the fact that free trade good in ITSELF good
even without reciprocity, though better with; and ihat
England would find it by the experiment Fortunately
we her promptly and handsomely in this movement
towards freedom and the result is cordial good feeling
between the countries commercial tand other)
relations prosperity home, and respect abroad Instead
of having all the banks broke and the abominaon OF DESC
ation up in midst as the tariff men predicted we
have money plenty, the banks in perfectly sound cond-
on public and private credit good, and everything else as
it should be- except and Notwithstanding the Mexican war;
which might reasonably have been expected would more
or deangc the currency and disturb the regular course
of business But all this the arites will tell u.s. is in
sequence of the famine Famine end the Devil they say
SOME of them sayhavc the aid OF the free traders
and helped them ola slough in which they would other
wise have been swamped The Devil towing to the par
TALLY of fends) gets credit for many good deeds which he
never performed The Jews ascrbed to him the casting
out of devilspeierng that he should have the credit OF
IT, ra,he. than author of the miracle So the
teconsts ready a.crbe the kindly working OF the
new tariff to any other than its intrinsic merits
approach fee-rade principles Even they obliged
to admit that il has poked ioand that more than half
Of the battle.