Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1848-12-14
THE PROTECTIVE POLICY.


Gle than in volumes of Folks Free Trade mes
saGes and Walkers reports.
From tho Boston Atlas.
The political economists of England-from
Adam Smith down. base their system unon tho
assumption that there are three distinct classes
OF persons, to wit landlords, or owners of the
soil capitalists, or tenants, lessees of the soil:
and aborers, who do the work. Amonr ,boso
they propose TO divide the whole income. in Tho
shape Of rent to The landlord, profit to the tenant
and wages to the laborer, in manner following;
10 the landlord the highest sum he can possibly
obtain Tor a lease of his land; to the tenant the
greatest profit he can possibly get for the use of
lbs capital, after paying landlord and laborer
and to the laborer the smallest rate of toages on
,ch'ch he can ertst. The only difference, when
applied 10 manufactures is that the landlord and
tenant are one class, operating upon the same
is, Ceiling lie most possible ioork
for lie least possible pay. Under this system.
with an abundance of capital seeking employ at
a low rate, and an abundance of labor, which
asks only to be kept from starvation it is no won.
der that England 10 ready for free trade with all
the world There has been but one difficulty in
the way for many years her landholders would
not submit to free trade in corn; but they have
been ouivoted at last, and the protection hitherto
extended to that great interest has been removed
IN order that the manufacturers may have wages
still lower and make their fabrics yet cheaper,
With landlord grasping all the rem; he could
and tenant grasplng all The profit he could. il
was Impossible TO have cheap bread, unless for
eign corn was permitted to come into direct com.
petition with the home productions; and without
cheap bread, 1t was not possible to have waves
at the lowest rate. Labor is only allowed to live
und the cheaper the price OF tie produce where.
on it lives, the lower will be the money rate of
wages, and the cheaper i'll be the cost Of man
utactures. This matter of the Corn Laws, which
has agitated England SO long, was merely uues.
ton whether, on The whole 1t would be more for
the interest Of the nation TO raise the greatest
possible quantity of breadstuff and to that end
to stimulate production by protective duties, or
to take luck for that, and by cheapening labor
with cheap bread, Look 10 an increase in their OK.
port trade, as more reliable source of prosper-
lty. The manufacturers have prevailed, and they
confidently promise 10 increase the import of
gold by additional export OF their .abrlcs, more
than will be sufficient to pay for all the addition.
al import OF corn which this change of policy
may make 1t necessary to buy. Our own opin.
ion is, that England has made a great mistake in
her decision; but that is none of our business
and we shall not step cut of our way to discuss
the question,
II we have stated the case clearly, it will be
seen that it is no part OF the system of the free
trade economists to protect or increase the value
OF labor GA the contrary, the success of their
plan depends upon depressing labor 10 The loiUest
possible point, and Keeping II there. 1t is intend
ed to add to The wealth OF the rch and to keen
the poor-the great mas5es-ds poor as they can
possibly be, and live. In other words 10 keep
the masses us they have ever been IN Europe
The staveS Of the Jep. We think we do not over.
state the case. We see not how any intelligent,
mn Al ind 1
cusiUn.
Aud now, the free traders of this country pro-
pose to do the same thing here. They pr, pose
to open our ports they have done it already to
u ruinous degreel-to the manufacturers OF Eng
land; to bnng Inns cheap LABOR of which we
have spoken, Cheaper titan slave labor in the
Southern States, into direct and active comreti
ion with our own. Ii the result would be TO
raise their labor TO level with ours-to make
the poor white slave oil Europe q nidn-to give
HIN the means OF living as man ought to live
to give him health, competence, ana for his
chlldicn education, we should be content; but
this cannot be-water viii not run up hill
Against this formidable a nta gonist the American
capitalist will contend, while he can; he VIII be
willing to work without profit, to forego his div
blends but let us see what that wIl do and
where the pinch will really come at last Take
an Investment here, and one In England.
HERE.
100000 invested in Cotton Factory,
costs per annum 100000
Because the money so invested will al
ways command lhAt rate of interest
Suppose the production to be ) ,UO0,-
700. The labor included III that pro-
ducton is one half tie value, say 100000
Then our labor and our capital require
from this nyestment, annually S56000O
IN ENGLAND,
81 100000 invested in Cotton Factory
p, costs per annum 10000
Three per cent being as near the aver
age value OF money there, as six pr
ceut. is here.
Suppose The production to be s. OCO,-
ULO- the labor included in that pro.
ductlon, one third OF the cost of A.
mercan labor at the usual rate of
wages, Is 10000
But 1t Is SAID and probably with truth
- that well led and well clothed A.
mercan labor produces fifty per cent.
more work III given time ; and al
loving such 10 be the case, we add
thereiore.to the English cost of labor $4,000
Thus English labor and capital require
from this investment annually $2SO,0OO
1t follows that English capital and labor have
an advantage over American of S2e00uO, or
twenty EIGHT per cent Tint is that the manu-
fac in hanchoc,or l..