Baltimore commercial journal, and Lyford's price-current. [volume] (Baltimore, Md) 1840-1849, 1847-12-11
WEEKLY MERCIAL JOURNAL.
than that of any other ma

cial marine will be larger than that of any other
ton in the world.
Whilst the interests Of agriculture, of commerce.,
and Of navigation have been enlarged and invigorat-
ed it highly gratifying to observe that our manu-
features also in prosperous condition. None OF
the ruinous effects upon this interest, which
apprehcndcd by some, the result OF the operation
of the system established by the act Of 1916,
have been experienced. On the contrary, the num-
Der Of manufactures, and the amount of capital in
vested in them, is steadily and rapidly increasing,
afJrding gratifying proofs that American enterprise
and skill employed IN this branch Of domestic indus
try, with no other advantages than those fairly and
incidentally accruing from Just system Of revenue
duties, abundanty able to meet successfully all
competition from abroad, and still derive fair and re-
muucrating profits.
| While capital invested in manufactures is yielding
adequate and fair profits under the system, the
wages Of labor whether employed in manufactures,
agriculture commerce, or navigation, have been aug
mcntcd. The toling millions, whose daily labor
furnishes the supply of food and raimcnt, and all the
ssarics and comforts Of LIE, receiving higher
wages, aud more steady and permanent employment
than in any other country, or at any previous period
OF our own history.
50 successful have been all branches ofour industry
that foreign war, which generally dminishcs the
Of nation, has in no essential degree re-
tardcd our onward progress, checked our general
prosperity.
with such gratifying evidences of prosperity, and
of the operation of the act Of IS 46,
every consideration of public policy recommends that
Il sbsII remain mich audcd II i boncd that tho svs
ten of impost duties which it established may be re-
gardcd the permanent policy OF the country, and
that the great interests affected BY it may not again
pc ~ W 'ilu' SUI
nL 1000 ''e"' y mcqueen anu
- Il - r :..; a., - 81
;,,. "I y, ; T. "o i ",'
w. t e Iu tc - 'l liz 49, hIJ ~
It's provisions, again recommend to your favorable
consideration the cXpedicncy of lowing a revenue
dnt,. ~, ,,a and c,G.n ;Cho roJ;c,- ,yicb ycrn,.d
these articlcs from dutv dnrnp ncace and when The
rcvcrrc to bc dcr;yed rror, tIan, WINS mot ncadnd
ccascs IN cvt IrLcp the conr,rv is engaged in ,rar
and renuirrs thr usc If all its availab rcsources
II is toy which Uould he so GENERALLY dias.d
the nronl" that is wonld be CrIt onnrcssivciv bS
none and h.. cornnIoined of b, mono II is bcI;evcI
that ,Inrc ao nt in Tho lie, NJ imnor,ed articIcs on
which are more nroncrIv the suhi.ct of war dnt;r.
than ten and cofFac
II i estimated that tbroc millions of dollars vopld
bo derived ornuaIi, h,. moderate dnty ,nnose1 M,
these articles,
,.arohonsio sstn, ,, has hoen IN o,ora,ion more
tban J,nar and has nrovcd IN he an inpnortart
liarv m the tariff act IF sl6 in anomcnting fine re-
vcnIo and evtnnd;ng tbc co,rIncrce oC ,h. comntry
Whilst il hos tended n nlaroe commerce Il has hacn
beneficial IN onr n,anuC,rtures nv sbing forced
sales a auction Of FOREIGN Goods at low nricrs IN rails
the duties n he advanced on them. and by checkng
! fluctuations in the market Tho svstcn; altbough
sanctioned bv the evnericnce of Other countrrs was
entirely now in The Initcd States and is snsccntibI
Of Improvement in some of its nrovisions. The Sc.
crctarv of the Treasury. upon whom was dcyolvcd
large discretionary powers in CARRYING this measure
into effect has collected and is now colIotinp the
practical results of the system in other countries
where it has long been established and will report
at an early period of your session such further rcga
tons suggested by the investigation as may render it