The daily union. [volume] (Washington [D.C.]) 1845-1857, 1848-12-12

of products get more of theirs for smaller amount
Of ours, and gain by the exchange The cheapness OF
foreign labor is an argument in favor OF exchange with
them. mus, II we concede as to linens that Europe
from cheap labor could afford TO sell two yards Tor what
would cost here would be our interest purchase from
them at the reduced price. But according 10 the pro
tectve theory the cheaper the foreign labor and the
lower the price OF It's products, the should
cude them by higher rates of duty. In the absence OF
duties, we will exchange surplus products for their
cheaper tabcs and our labor being applied to the pro-
ucon OF articles thus exchanged abroad, wages will be
enhanced here by obtaining extended markets for
our products, and getting for them greater quantity Of
useful articles al lower prices In the absence OF tariffs.
the division OF labor would be according TO the laws of
nature in each naton and the surplus of each would
thus be exchanged among the whole each employing its
Labor only IN the most productive pursuits and therefore
the aggregate profits would be largest Ii labor were
low in any foreign country that they could furnish
goods at almost nominal prices and these cheap articles
were such as wanted here it would be ineres, to
purchase them IN exchange for products; and the
cheaper the foreign articles the greater would be
gain IN the exchange II is strange objection to the
purchase OF foreign articles that the price is too low
The argument that must encourage our infant man
uactufes was always iaacous, for they would encour
age themselves the country was adapted 10
them But are they now infant manufactures! We
have called tSn for sixty years; and will they
to be infant manufactures until weaned from legis
allve protection
On the first of February next the markets of Great
Britain will he open to brealsutfS at nominal duties
shall enlarge the markets Tor our products by selling
them 70 Great Britain in the only way which she
purchase them for series of years, by taking IN ex
change such of her fabrics she sell to at cheaper
rates than can make them To the farmer planter
this is Just question whether he shall have two markets
one, whether he shall sell more at higher price,
or less and at lower price II 1t be our interest to shut
out British fabrics it would be theirs their
corn laws and exclude beatsuits from their mar
kets.
IT is said that other nations will not take onr products
in exchange for their fabrics; but with reciprocal free
trade they must take them by the universal rule that the
purchaser will buy the cheapest articles without nqulrng
whether they made at home or abroad To force
industry, by protective duties into less productive
pursuits by farbLdng these exchanges increase the
amount OF labor and diminish It's products III other
words TO force our workmen to labor more and receive
less
The people of the Union consumers pursuing their
true interest, il left to their choice unetlered by
legislation will purchase the best and cheapest articles
But this is restrained by law and the consul ners com
PEELED by high duties to purchase only chiefly domes
tic articles because this IL is said, will encourage home
industry But the foreign import has been purchased by
some domestic export The barter may not nave been
drectvarlous factors may have interviewed, bills OF
exchange may have been used, or com may have at
used occasional balances but IN series OF years, IN
the aggregate International trade Is but exchange OF
products Thus the foreign import being exchanged tor
some American export. own home industry, which
produced that export has been better encouraged than II
forced by law into other pursuit. rendered profitable
only by high duties
The temporary high price OF labor in particular en-
lployment IS often imputed to the tatl But II 1t be
conceded that the protected articles are thus enhanced
this additional price, paid by the consumers, is much
capital taken from them by the tariff TO the fall extent OF
the increased price which otherwise would have const
uied fund for the employment OF labor and the pay
ment of wages If, then, anything gained in the
HANGED price by particular branch of industry 1t is at
the expense OF all others and must result IN dmlnuon
of wages, depending they do on the aggregate profit
of all the capital and labor of the country and upon
that employed in any particular branch of industry Thus,
while wages may be temporarily augmented IN some pur-
suits favored by law they diminished IN all others,
and the wages of great majority of aboers would be
reduced, and finally OF all.
From the diminished aggregate capital there follows a
dimnulion of the aggregate wages paid in nation
vast majority OF the labor of ls country employed in
agriculture navigation, and the protected
pursuits and if these depressed, their ponts
reduced, the wages OF those employed IN such pursuits
fall many are thrown out OF employment and thus gen
era fall OF wages and the protected manufacturer
eventually obtains labor at reduced rate The effect of
protective tariff, truth, not to enhance wages, but to
depress them, ami render capital invested in manuac
tues profitable by enhanced prices OF the protected
fabrics Wages throughout the whole country become
lower than they before, because the aggregate
profits of the capital OF the nation engaged in all
its industry are diminished. Wages in branch
OF industry cannot be high. when they are low in all
Others for wages, like all other commodities, unfortunate
y will soon find the level The aggregate profits
Of all the labor of the country, and not of any particular
branch of industry, constitute the fund out OF which
diminished profits wages throughout the whole country
mus, eventually fall IT, then, the great mass of labor
this country, and Of capital invested in agriculture
commerce. navigation, and such branches OF industry
req ue no protection, and these pursuits injured by
protective tariff either by diminishing the market for the
surplus raised by those thus employed reducing the price
of what they sell, compelling them to pay more for
what they buy, there must be in time general fall of
wages throughout the country even although particular
branch of industry have been rendered more pOhta
bic by protective tariff This duty, them instead of pro-
lection is tax upon the whole industry of the country
invested in pursuits requiring no tariff.
Nor it any mitigation but aggravation of the evil
that some otle nations impose high duties their
CONSUMERS of foreign products The foreign duty may
prove injurious to industry. II the American
article still in sold abroad to their consumers
at price enhanced by their duty, the injury may have
been that extent 10 them only and not to but when,
by way OF relieving from this injury whether real
imaginary, we impose tax upon own people IA con
sumers, by compelling them to pay high prices for foreign
products by high dutes only aug ment the evil Re
ciprocal free trade is best for all and reciprocal high
duties worst When it is said, if foreign nations tax
produce by high duties, we must tax theirs in the same
manner, forget tina, their duty foreign imports falls
mainly on their people who purchase such imports,
and likewise our tax foreign imports falls chiefly
on our people who purchase them. Let buy
such imports desire at low prices and the difference
of price that thus saved to people much gain
ed additional capital to encourage indus
try, to increase employment and the wages of labor
| But if the system of reciprocal taxation is wrong
what argument be offered in favor OF high duties
upon fabrics OF foreign nations, when they receive
exports at a nominal duty IN exchange? Formerly
proectionsts limited that if Great Britain would freely
receive breads,uls should take their fabrics
at low duties, free of duty, in exchange. Then the
laws in full force in Great Britain, and it
supposed would forever remain But the system was
repealed and chief agricultural products are now in
vited free OF duty, or al nominal duty, on the 1st OF
February next, into all their ports Oar proteconists
abandon their former position, and maintain that ii
INJURIES farmers to purchase British fabrics a, low