Richmond palladium. [volume] (Richmond, IA [i.e. Ind.]) 1839-1854, 1848-02-16


ments-you break down compe tition, and you Of
course diInin ish supply and increase price
Demand and supply regciute price, Give pro-
lection, increase your Inachinerv, start new fac
tories, stimulate competition, increase supply
anu Won reduce price. This, sir, is law OF trad
as certain IN ats operations the ebbing and flow
ing OF the tides "Weii, gentlemen, l am not
practically acquainted with these matters. I am
a cotton grower, wish to make money plenty,
and prices high abroad where | sell, and make it
scarce and prices low at home where l buy; |
want to sell ia high, and buy in low market.
have not now time to discuss this question fur
Their. ] am very busy, must go to the Treas
ury, hut beg you 70 believe that am The spe-
ciai friend Of the American mechanics, work ing
men. and particularly the roteTs-Good-bye, l
must be off,
But Mr. W.iker has not only reduced the du-
ties on the productions Of Anne rican mechanics
but be has reduced still more the duties the
sxaries of the rich. Among the rest, he has
reduced the duty on foreign brandy and spirits
distilled from grain nearly half; and this,
100, IS done TO increase the revenue. We must
therefore import and drink coubo d much bran
~ and spirits as We did under the tariff Of 1912,
otherwise Mr.. " amer III lose revenue. Yes,
sir, import and consume double much brandy
to get the same amount of revenue. Instead Of
reducing, lie should have doubled those duties,
and if he and his friends will drink foreign H.
quors, let them pay for IT. But Mr. Walkers
revenue has gone DOWN, and lie calls
Congress TO make up for the loss of revenue
brady. sre cloths, and other luxufies, by tax
ing the p.or mans tea and cofe'. Let hun re-
store The duties on the Iicli mans brandy, aud
other luxuries and ri.en talk OF taxing tea auG
coffee, and not bel fore; ana tI' ne Goes 'hi-' lie
will never succeed in peIpetraiing t.:'a outrage
on the Anne rcan people.
Knowing that low duties always invite excess
i've imports resulting in a large balance OF trade
against the country, ending ~ bankruptcy and
ruin, Mr.. w alker undertakes TO show that an
II fIVor.ile balance trade of importance.
that the baan ces against Us have been frequent
and heavy. Yet, he says, our country has sur
vived AMI prospered.
But docs no, Mr. Walker know that
i've imports, and an unfavorabio balance of trade,
az, always followed by the expectation OF specie,
with al. It's disastrous consequences
Mr. Walker might well tell farmer in
Pennsylyania. ', no sold his whole crop TO mer-
chant from whom NJ. got all his supplies for his
family, that it made no dIn- 'ehce 10 h'"'' "he'h-
err at the end Of the year, the ba 'Ace ~d' :"
his favor or against him. A nation - fanny
upon large scale, and the primo, 'ie' ~
Industry and economy that secures wealth ia
to the one, will secure it TO the other.
The great error. on this point. consists in the as.
sumption Of a fact that is not iru--that the for
egn goods we purchase are to be sold where |
as they imported for consum2tion and are |
and the balance against the country |
has TO be paid in cash.
must hasten on-but cannot omit to notice, !
for moment, one Of the greatest absurdi'ies OF
this extraordinary report. MIR. Walker gravel
tells us, that domestic products amount to
50 900 O000, 900 year, Of this exported last
year 50 900 900, the balance being required for
the supply Of the home market; but he says that
by adopting low duties. might Increase our
exports and imports to 5000 100000. and our
revenue to S90,OOO,0o0 year. This he makes
,ut by supposinc, against allexperience, that for
ign countries would take from us three times as
nuci as they now do; bnt surprising what has al
Ways happened, that by loic Gutirs you break
Town and paralize your own national industry,eA-
BORT yOurspecie, involving the country in ruin &
bankruptcy, destroying both exports and imports,
hen what? Instead of 5000 900 900, your ex
'orts and imports will sink down TO less than two
md a half the ordinary amount. But Mr.. w al
Ter goes further stills he says. BY adopting abso-
ute and unqualified free trade, rrsortng, OF
course, to direct taxation for reveuue-levying
he taxes on the American people instead of TOR
ign goods-Mr. Wa lker says we would "meas-
Ire annual trade in imports and exports by
housonds of mLiions!n' Who can but smile at
UGH insanity run mad Mr.. w .ker might
nc assure his imports hy thousands Of millions #
lie had mohey TO pay for them, but when he tells
IS that the whole Of the specie in the DATED
States does not exceed ninety millions ofdoiiars.
rot enough to pay for one months imports under
lis free trade" system, how long would i; last!
lis '.free trade" engine would blow out tcioic
got fairly under way. Our imports may de-
II nd upon ourselves, but our exports depend up
IN the disposition of foreign countries to pur-
hey supply themselves. 1t MI !" aiker
an devise a plan to create famine or the pota-
oe rot in Europe, he may to some extent, carry |
ut his theory, but net othcrwi Use. We can pur-
base as much please while we have mo-
lev or credit: bu: like the reckless spendthrht,
y hen these gone, must quit, and go TO
vork or starve There is but way in which
slr. Walkers plan of making our imports aud
xports amount, under "ree-trade.' to "thou-
ands of miious,' y and that is TIE plan, no doubt,
- has in view. That is, to export our ore ana
oai to England, and bring il back III bar iron.
xes hoes, shovcis, needles, and anchors. Ex-
ort our wheat and corn, and bring IT back IN
lour; or what is worse for US, and better tor
he III, worked up iii costly manufactures. Send
he m our hogs, and bring them back in Bologna
ausaces. Send them hides. and bring
he m back in leather, shoes. gloves, &c. Send
he IN our wool at 30 cents per pound, and bny II
gain at ten times that amount in cloth-paying.
rot only for the wool. but for the foreign labor.
md the profits of foreign capital employed in its
Send ten dollars worth OF ra"
Material and buy it back with the addition OF one
.und rcd dollars paid to forei en- labor Tor WORK
up il into goods, while cur own labor IS LETT
Without money and uiihou; employment. see
stated, that one dollars worth OF IRON. mace IN
q mainsprinrs OF watches. is worth s2O,OCu, and
md this is ali labor ana its substance
Suct is Mr.. w ailer's theory OF "free-trade
atried out to its practical results-th's he says,
would give empioy msnt TO all our ships. Yes
IT. and with the same propriety he might ADVISE
western Pennsy lvauia farmer 10 load his wag-
m with wheat, and take it to kentucky to be .
round, aud bring back his Hour to keep his team
would the farmer cay 10 Mr.
alker's proposition,
Concluded merit sreek