The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-09-19
Free Trade In the United States and Great
Britain.

The past year has been a very important one
in the commercial world, and in the commercial
history of the two greatest commercial nations
in existence. 1t has been an interesting era in
their progress, and WILL hereafter, be referred to
as being the starting time of the most important
commercial movement of the age. The deve-
opment of free-trade principles within the past
five years has been SO rapid, and general, that
the modification of old commercial systems upon
that basis became matter of imperative neces-
slty.
Notwithstanding the many powerful preju-
dices which existed, and the tremendous OPPOSE
ton arrayed against them to the last moment, the
adoption of these measures, calculated to practi
caly demonstrate the theory, could no longer be
deferred The commercial systems of the
United States and Great Britain were nearly
simultaneously changed, and the operation OF
each since has been under circumstances
dramatically opposite to each other. While
we have had the most favorable opportI-
n tiles for the establishment of the principles OF
free trade, Great Britain has had to contend
against the most adverse events. The very cir
.cumstances tending to check the progress of this
system in Great Britain, have had very favora-
BILE influence in establishing it permanently in
the United States We have been large export
ers, while England has imported much more ex-
tensively than usual. Although the causes which
produced this state of things, have no connection
whatever with the principles of free trade, they
have had most important bearing upon them,
and have strengthened the opposition in Great
Britain and weakened it in this country.
The experiment, if such this movement can be
called, is no longer matter of farther doubt
1t has become one of the established principles
of our commercial system, and hencefOrth will
enter more largely in their formation, than ever
anticipated by many of its original supporters.
Eventually the most liberal construction of this
doctrine will be adopted, and the literal meaning
of the term be carried into practice.
AS extraordinary it may appear, it is never
theless true, that the government of Great Bril-
tain was forced into the adoption of more
liberal free trade system, than it would under
other circumstances have established. The de-
ficency in the harvests of the United Kingdom,
fastened the movement, and gave its advocates
an opportunity to bring the question to crisis at
once, which they were not slow In availing
themselves of. The deficiency in the harvests
of Great Britain aided this country very much in
increasing its EXPORTS and in establishing markets
abroad for our breadstuffs. The importations
have increased in corresponding proportion,
giving favorable opportunity for the operation
of our revenue tariff, and the consolidation Of
our new financial and commercial systems. The
Mexican war has been the only drawback we
have experienced; and had it not been for the
immense drain of capital from the channels OF
trade, for the purpose of providing the sinews of
war, we should have reached ere this, under our
new commercial organization, a state of prospe-
rity Unprecedented in the history of the country
| The present position of all the great manufac-
turing interests of the United States, is highly
encouraging. The necessity for protecting these
branches Of industry has disappeared, and if it
ever existed to an iota of the extent argued by
the protectionists, they have outgrown such sup
port, and now stand firmly upon their own found
alton, independent of all aid. They have become
so strongly established, that they can sustain
themselves under any commercial system that
will support the Government. We are as able to
remove at once every remaining restriction upon
commerce, as any nation in the world I; and so
rapid is our progress in every species of indus
try, such is the economy of our Government,
when It's expenditures are confined to their ordi-
nary channel, so great the domestic resources of
the country, that we are compelled to adhere to
no system which does not give us the most unrc-
stricted commerce the most sangune free trade
advocate ever dreamed of.
We progress as much in ten years as any other
country does in century, and it is therefore diff.
fcult to tell what changes a few years will bring
about