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


ful example the ports OF Europe are most pro.
badly about being more widely opened to all
our exports, shall we check the advancing
spirit of the age, and extinguish the da"ning
light of commercial freedom' Everywhere
nations are being aroused upon this subject,
their statesmen are resisting the interested
classes, and exposing the injury and injustice
of shackles upon trade, and Will soon enrol
the names of other countries on the great IN
ternational league of commercial freedom Tor
the benefit ofmankind. 1t was our own coun-
try and her public functionares who proclaim,
ed these great truths before they had received
the sanction of other nations. Our great move
ment was felt in British councils, was quoted
as precedent in the halls OF British leglsla-
ton, where American free-trade documents
were recorded among their archives, and our
doctrines approved and example followed by
| The repeal OF the British corn laws and the re-
duction or repeal of other duties upon our eX-
ports Indeed, it has been conceded by some
OF our own most distinguished protectonlsts,
that the PRONUNCIATION of free-trade doctrines
in the American official documents OF 1915
certainly accelerated, if indeed IT did not actu-
ally insure, the repeal OF the British corn laws
With such results already from our efforts, we
have every motive to persevere until the tree
trade doctrines of Great Britain and America,
the two great nations of kindred blood and
language, shall open the ports and dlsenthral
the commerce of the world. What may we
not hope from our effort with other nations, If
they have succeeded in Great Britain? That
country, so long the bulwark ofprotectlon ap-
plying it by sliding scale upon the masses
of her people down to the utmost point OF hui
man endurance, has at length overcome the er
rors of ages. One of her own great states
men, the most able and efficient champion OF
the protective po'icy, at length lifts his eyes
to the light of truth, and, with that moral firm
ness and intrepidity which is the highes evi.
dence of real greatness, abandons the cherish
| ed policy of his life, only because he found il
to be injurious to his country, and unites in
the support of commercial freedom with his
truly ilustrious, but untitled countryman, who
; has earned for himself the highest of all earth
" dstnctons-that of benefactor of his coun
r try and of mankind.
} France, Russia, Germany, Austria, Italy
Prussia, Switzerland, Holland, Belgium, Den
/ mark, and Sweden, and even China, have mo
S we'd, or are vibrating or preparing to move, il
t favor of the same great principle; and if gu
e own country and Great Britain adhere TO thei
, present enlightened policy, the rest of tn
e world must lose their commerce, or adopt, a
n they will, our example.
h Pennsylvania, surprisingly rich in coal AM
: iron, and but year since so unanimous TO
: protection, has tried low duties Her coal AM
: iron pour forth their treasures in increasin!
: abundance; her breadstufs and provisions finl
: better and more abundant market her agri
r. culture, her commerce, her manufactures an,
= navigation, her miners, farmers, merchants
= and seamen, manufacturers and mechanics
e and, above all, her toiling workmen with en-
: HANGED wages, and every pursuit Of industr,
: blessed with increased prosperity, rise up il
n favor of the new and more liberal commercial
: policy, and her people, by majority UMPIRE
IT cedented, largest i'll the counties where he
= coal and iron do most abound, recall their for
l. mer verdict in favor of protection, and Penn
e sylvania becomes the very keystone of tn
,, arch of commercial freedom, which must spa
n the hemisphere we inhabit and unite the inter
e ests of mankind.
If Nations cannot grow rich by destroying c
1t restricting their commerce; and if the restric
ton is good, the prohibition must be bette
e Commerce is an exchange of products; speci
l. often adjusting balances, but constit ting s
e inconsiderable part of the value of product
l. and property, but small portion OF sales ca
'e be for specie, but must be IN exchange fo
T, other products The attempt, then, by hig
10 tariffs, to make large sales for any length {
le time for the specie of other nations, is impra
rs titabe, and must diminish the quantity ar
D. price of our exports. AS specie sales for los
" periods or great extent are impossible, that n;
ton which, from the surplus products OF j
x own labor, at the best price, purchases at II
h lowest rate the largest quantity of the produc
rs of the labor of the world, progresses in veal
IN most rapidly. Thus, if one nation, by hig
he duties, should forbid its citizens purcbasir
re- any of the products Of other nations, exec
We at greatly advanced price, or should restri
x the exchange OF the products of its own lab
N, for the products of the labor of other nation
IS; such restricting nation would certainly recei'
x less of the comforts or necessaries of life
tic exchange for the, products of its own labe
of and in this manner (the wages of labor beil
connected with the value of its products)
'ly presses wages If there were three nations
or the first raising breadstufs, the second sug;
he and the third cotton-and the first restrict
at the exchanges OF It's breadstuffs for the sug
20. of the second, and the cotton of the third g,
Of would certainly get less sugar and cotton
exchange for its breadstuffS. than other natio
ks which encourage free exchanges. Labor, the
Is. untayed and unrestricted in all its exchang
ny dllu lildI hetS, " III Certainly receive IN eACld
Tn a larger amount of the products. of labor, a
he consequently accumulate wealth more rapid
TO than where labor is restricted in it's produ
De- to a single market, abandoning the profits
ate the exchanges with other nations. 1t is tn
is clear that a tax or restriction on commerce
re- restriction or tax upon labor, and falls CHI
in ly upon the wages Of labor; and it will so
)of become an automatic truth, that all tariffs ;
ost a tax upon labor and wages. One of the nj
he common errors is to compare our imports, {
IN elusive OF specie, with our domestic expor
,pe exclusive of specie; and if there are more su
the imports than exports in any one year, su
balance Of trade is set down as so much Il
ing by foreign commerce to the nation A sin,
ia fact proves the fallacy of this position FIR
OF 1870 to the present period, our imports,
ge- elusive of specie, have exceeded our domes
ex- exports, exclusive of specie, several hund
lie, millions OF dollars; yet our wealth has
raj creased with a rapidity unprecedented. 7
rec theory, therefore, is disproved by the fac
our and the reasons are obvious, Of which the
all lowing are among the most prominent: I
ion products of our whale fisheries extracted
ged our hardy seamen from the ocean, and m
are clearly one of the great products of Americ
ion industry. when imported here are included
lis the list of our foreign imports, and go to sw
,ot- several millions of dollars every year this
al legged unfavorable balance. The earniags
ner freight in foreign commerce by our crews
cad vessels are not brought into the account,
oFt1 I IL r