The daily union. [volume] (Washington [D.C.]) 1845-1857, 1847-12-09

France, Russia, Germany, Austria, Italy, Prussia,
Switzerland, Holland, Belgium, Denmark, and Sweden,
ana even Cnina have moved vibrating pre-
pairing to move in favor of the same great principle and if
our own country and Great Britain adhere their present
enlightened policy, the rest of the world must lose their
commerce, or adopt, as they will, our example.
Pennsylvania, surprisingly rich in coal and ron and
6ua year since so unanimous for protection has tried low
duties Her coal and iron pour forth their treasures in
creasing abundance her breaGstuis and provisions
md better and more abundant market her agriculture
her commerce, her manufactures and navigation her
MINERS farmers merchants and seamen, manufacturers
and mechanics, and, above all, her toilng workmen
with enhanced wages, and every pursuit of industry
blessed with increased prosperity, up in favor of the
new and more liberal commercial policy, and her people,
by majority Unprecedented largest in the counties where
her coal and IRON do most abound recall their former
dict in favor of protection and Pennsylvania becomes the
very Keystone OF the arch OF commercial freedom which
must span the hemisphere inhab and unite the in
erests OF mankind.
Nations cannot grow rich by destroying or restricting
heir commerce; and If the restriction good the pro-
ibllion must be better Commerce is exchange OF
products specie often adjusting balances, but constut-
ing SO nconslderabe part of the value of products and
property, but small portion OF sales can be for specie,
but must be IN exchange for other products, The at
tempt, then, by high tariffs to make large sales for any
length OF time for the specie of other nations, is i'm
practicable and must diminish the quantity and price of
exports AS specie sales for long periods great
tent impossible, that nation which, from the surplus
products OF ITS own labor at the best price, purchases at
the lowest rate The largest quantity OF the products OF the
labor oil the world, progresses in wealth rapidly
Thus, one nation, by high duties, should forbid lis citi
purchasing any of the products of other nations ex-
cep at greatly advanced price, should restrict the ex-
change OF the products OF its own labor for the products
OF the labor OF other nations, such restricting nation
would certainly receive less of the comforts
and in this he wages of labor being connected
with the value of its producs) depresses wages. II
there three naonsthe first raising breadstus the
second sugar and the third cottonand the first restricted
the exchanges of its breadstuis for the sugar the
second and the cotton of the third it would certainly gel
less sugar and cotton in exchange for its breadstuis
| than other nations which encourage free exchanges
Labor, then, unaXed and unrestricted in all its ex-
changes and markets. will certainly receive in ex.
change larger amount OF the products Of labor, and
consequently accumulate wealth more RAPIDLY than
where labor is restricted in its products single
ket abandoning the profits of the exchanges with Other
nations. Ii Is thus clear that tax restriction on
commerce is restriction tax upon labor and falls
Oh lefty upon the wages Of labor; and it will soon
become an automatic truth, thai all Tariffs tax
upon labor and wages One OF the most common
IS to compare imports, exclusive OF SPECIE with
domestic exports, exclusive of specie and if there
more such imports than exports in any year, such
balance of trade is set down much lost by foreign
commerce 10 the nation single fact proves the faacy
of this position. From 1890 10 the present period
ports, exclusive of specie, have exceeded our domestic
exports exclusive OF SPECIE several hundred millions
dollars; yet wealth has increased with rapidty un
precedented The theory therefore, is dsproved by the
facts and The obvious of which the following
among the most pronnenl The products of our whale
fisheries extracted by hardy seanen from the
and most clearly one Of the great products of Amer
can industry, when imported here liz sd IN the lis
81 cur ioelgn imports and TO swell several millions
Of dollars every year this alleged pnfavorable balance
The earnings OF freight In foreign commerce by uu
crews and vessels are not brought into the account
often against us, when invested in foreign imports
| The profits OF exchanging our Imports or of sales
of foreign prolucts, do not appear in the balance
or, If so, to very limited extent, often against
Thus American merchant ships from Boston cargo
OF ice during the winter, valued at that time, ex
port, at very small sum- He sends il TO Calcutta ant
sells il Of an advance OF perhaps thousand per cent
The proceeds he may invest there in the purchase o
goods, which he can bring TO liverpool and probably sci
at profit OF twenty thirty per cent? and the aggregate
profits realized at Calcutta and Liverpool he takes hons
in specie, or in imports or in bill of exchange, which
he probably sells at premium for remittance. Ye
these profits may never appear, may appear
nfavorabe balance under tie head of imports Upon thu
same allacious theory, if, instead of purchasing millions
such valuable foreign articles presented granously
to the American merchant, and brought by him into thu
country, they would swell this alleged unfavqrable bal
ance OF trade. To sum up the result as proved by the Ia
bles Of the Treasury it appears that # the augmentation
was in the ratio as during the last fiscal year since
the repeal Of the tariff of 1912. domestic exports il
1919 would exceed those of any other nation and ou
imports in 1851, our specie in 1850 our tonnage in 1851
and il our revenue augmented in the ratio in
ceeding years in the year ending the 1s of De
cember, lSl7, compared with the preceding year,
revenue from duties in 1854 would exceed that Of
any other nation from the same source 1t is not con
tended, great as the future augmentation may be as tc
imports or exports, tonnage specie, and revenue tina
the advance will be so rapid as it was this year, when
with the shackes stricken from commerce, we bounded
forward at such wonderful rate OF progress. But tina
the increase under low duties series of years will BIZ
regular, rapid and progressive is not doubted Before
the repeal of the British conaws, the augment here FOL
high duties measure OF retaliation, by closing
markets against British fabrics, to force her TO open he
ports to our breadstufs and provisions Well she ha:
thus opened her ports freely and invites the exchange;
yet is still commended that ought to keep out her fab
RIGS by high duies and of induce her TO reesab
| lish her corn-laws
This is new commercial era, and there are many
causes combining at this time to augment trade among
naons-the reduction repeal of duties, the construc
ton OF railroads and canals to bring the products
fabrics of all nations from the interior TO the seaboard
with ocean steamers in addition TO sailing vessels to IA
citatc and hasten the exchange and with China, con
tanning nearly third OF the population Of the globe
brought at last within the range OF liberal exchanges
products and fabrics from the interior TO the seaboard
axes and rivers of the west the points of distribution fo
domestic consumption, well for shipment in
change for the fabrics of other nations of great and
increasing Importance Without these roads and canals
there very many points where COAL and lime, and
iron and other materials, could not be brought together
for profitable in the establishment; there
many farms and manufactures whose products ant
fabrics could never have found a Market and The
coal and iron of Pennsylvania and of other States
must have remained almost useless treasure This
in ITSELF is great change in favor of our domestic
industry, and is far better protection TO all the products
and fabrics of American labor than any restriction wcl
even with the pretex for any such policy which, when
the internal communication has brought our prod
ucts fabrics upon the seaboard would arrest their
change there Tor the productions of the world The doc
trne that cannot encounter foreign cargoes fair and
open competition erroneous and injurious to the
national character the fears of 1872 thai
our gallant navy must be retained within our ports and
bnrhf arl,