The Davenport gazette. [volume] (Davenport, Scott Co., Iowa) 1841-185?, 1848-05-11
SPEECH OF A. STEW ART.


doctrines contained in Mr.. Walkers An
nual Report on the Finances
"But, sir, above all, beg you to protcc,
aud cherish your national industry; to pro-
tect and sustain it against the efforts Of its
enemies, foreign and domestic, to break il
down. Labor lies at the very foundation
oil the national prosperity. Labor, in eve
rs department. lin the fields, in the work
shops, IN the tactorics-cherish i, nd pre-.
servo IT as the great clcmcn, of your ma
tionnl wealth and independence. When
labor prospcrs, all other interests prospcr
when labor is depressed, al! other interests
must suffer aud sympathizc with it.
"Whnt is NIL other capital compared with
tue capital Of labor? Estimate your labor
at one tenth Of your population, say two
millions OF laboring men; il they earn but
$3.50 per year. this is equal to tho intercs,
Of a capital Of $4,000 per annum at u per
cent, which multiplied by two millions, the
number OF our laborcrS, makes our labor
capital equal to sir thousand millions of
dollars; and this is the great clemen, OF
power, and wealth, md prosperity tina,
Mr.. Walker would sacrifice and degrade to
the wrotched condition Of European labor,
by his miserable policy Of "frce tradc"--
compelling the Americans to work Ms cheap
MS they do in Europe, or give up their
markets aud their money 10 foreigners.
"As. then, you value the virtue, liberty,
and independence Of your country, l be-
seech you to protect and dofcnd your labor
from tho ruinous effects Of foreign compe-
t'tion. | call upon the laboriug men-the
voters Of the lnnd--to come To tho rescue,
TO protect themselves; the power is in their
own hands, let them exert il Cor their own
security aud defence. know what il il
TO labor-I como from the ranks of the Ia
boring men, feel Tor their interests, and
] sympa.hizo in their sutIcrings; and when
| desert them, may Heaven dcscr, me-
To show tho utter nhsurdi,y Of Mr..
Walkers whole theory, that he is cropping
in the dark without any clear conception of
his subject, building up one theory to knock
il down with another, he would prcsen, one
striking instance to which he begged Mr..
Walkers special attention, and that Of the
country-it was this:-
''In his report Of 1915, recommending
the tariff Of lS4G, he proposed tho roduc-
ton OF tho duties on iron, sugar, and molas-
see, c ,iton and woolicn manufactures, about
onehalf What for? Toincrcase the rev.
cnuc-and how? Or course by doubling
the imports Of these articles. Instead OF
30 millions VIC would have TO purchase
from abroad GO millions worth Of these atti-
clcs e. get the same amount OF rcvcnlc,
send 30 millions Of dollars moro abroad 10
pay for them, and dispiacc that amount Of
our home supply.
"Wcll, now, what does this wsc and con-
sistent financicr tell US in his mex, repor,
in lSi6? Sec page IL. Instead Of lom
duties doubling the imports Of these articles,
he now tells us that lor duties will utterly
destroy the importation Of iron, sugar, aud
molasses, aud Of cotton or woollcn goods;
that We shall, under slow du,ies," soon sup
ply ourselves, and have surplus for cr-
porfdtion. Herr him; these arc his words
(Annnal Report Of lSl6, pnge IL. Mr.
Walker says, "nnder system Of low du
ties all our exports would be greatly aug
mcnsed, and We should export largely no,
only brcadstuffs and provisions, cotton,
rice, nnd tobacco, but also in time sugar and
molasscs, aud ultimately largo quantities
Of wool and hemp. ne well us manufactures
Of wool, hemp, aud co.,on;' and .iron
would take it's place in our list &c exports
TO foreign countries" Yes, sir, Mr.. Walk
or, in lS45, says we must prevent the sub
stitution Of American manufactures for for.
egn goods, iron, woollcns, cotton, sugnr.
&C., ind TO do this he reduces the duties
on these articles one-half, to increase tho
revenue by doubling tho imports. And
then, in lS46, after passing his bill, to CON-
fort tho manufacturers, he tells them that.
'sunder his system OF low dutics," they will
not only supply the American market, hut
export large quantities 10 foreign countries,
OF sugar and molasses, cotton and woollcn
manufactures, and OF iron too. Now, sure
ly Mr.. Walker cannot double the imports
aud at the snme time export these articles
no country ever exported and imported the
same article al the same time. Now,
wish to nsk our learned Chancellor Of the
Exchcqucr this question: if you export iron,
sugar, and moIasses, cotton and woollcn
goods. what becomes Of the fourteen mil
lions Of revenue YOU received i'm l645 on
those fve articles? Il is cvcry cent gone
and this you sny is 10 10 the effect of your
"syssem oflow duties"-your tariff Of l646.
Now, sir, call on the Secretary TO tell the
country which Of his theories 10 right-.he
Ono Of l645, BY which the tariff 81 1916
was to double the imports Of sugar, molas-
scs, iron, and cotton and woollen goods; or
tho ono Of 1876, in which he says il will
destroy the importation Of these articles al