Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1848-01-06

(of gran) which had taken place had turned the
balance of trade against this country IN .4meri-
can only, because during the whole Of the i'm
portation from the continent the exchanges were
in our favor"
1t seems that Bobby and Lord Ashburton di-
rectIy contradict each other in an ol-important
point Free Trade in corn, says Bob, has open
ed British ports to American breadstuffs the last
wear TO the enormous amount of $65 ,906,273-
being an increase over 1876 of Sal ,332, 2S2 BY
10 manner of means, sir shouts Lord Ashbur-
.on--" the corn trade would have been pretty
much the same as il had been, even although the
corn laws had mol been touched" In other
words, England was suffering from famine
bread must be hnd and tcoulG have been had, in
spite of British Corn Laws and American Tar
ifs. Had the Tariff OF '42 been in force, our
exports OF food would have been nearly the same
the demand, growing out ofthe famine would
have been supplied. But what if Europe had
raised her ordinary amount of breadslulls during
the past year? Does any man suppose that A
merica would have sent to her these sixty six
millions Of dollars worth in that case ? Of course
not. Let us suppose, then, that the famine shall
have passed away, and that his year foreign
countries will require no more of our breadstuils
than in le4G, but that in all other respects the
existing Tariff shall operate for 1913 precisely
as in 1S47 How will the account stand? We
quote from the report:
7-Importations, deductng foreign goods ex.
ported, Sl35, 534 $50
Domestic exports, $l5O,G37,l64
Deduct excess of
breadstufFs over
1916, Il,3322S2- los, 304 $50
Balance of trade against as 500, 229, SIS
This, be it remembered, is based upon the
suppostion that there is the same demand for
brcadstuffs as in 1916.
Now let us take the actual statement for 1916,
under the Wing Tariff Of 1912:
lS46-Imports deductng foreign goods export
ed, SIlO3l5,l74
Domestic exports, lU2, l4l 1913
Balance against US $8,203,2S
1t thus appears that The advantage is decided
ly in favor the Tariff Of l842-by about TWEEN
ty one millions; though it is but fair here to Oh
serve, that if the ameunt Of exports Of bread
stuffs should be reduced, there would be a re-
duction to some extent in importations mot.
however, equal 10 the reduction in exports: for
our imports, as general rule, will exceed our
exports. IT, for instance we sell Lreadstuffs to
(frnn riIn,, hill IL.
in her productions. To this point, we quote a.
mother of Bobby's British allies the prime Min
lister. In speech in The House of Commons,
Nov. 25, Lord John Russell said:
I'm 1875, in 1903 in 1925, and in 1888. there
had been panics and great depression of trade;
and ye: in those years the protective laws were
in force, and did not avert from the c0un-
try the same revulson of trade which it is
now experiencing. Unfortunately, whether we
had protection or free trade, an inconvcriible pa.
per money or metallic currency, ON our prosper
ity fictitious credit led too often to a revulsion
He denied that the terms +" disgrace" and bank
ruptcy" were applicable TO the present condition
oil the county. We were not III u state of bank
ruptcy. The British merchant ,pih The ndvanta
ges which he deriued from The present tariff, could
rise from his present difficulties superior 10 all for
eign competition. We were suffering under IA
Serere but TEMPORARY CALAMITY, and The rery
food icitich zee lad recently brought from .4aericd
had already caused great export Of our
(deiures. II "'sas ~ lne lncreqe, 81 that export
',r5t,e favorable state Of tho exchanges, &c. thai
he looked for the grodural restoration of bette
state of things, and ultimately Of cur former
prosperity"
We shall have more TO say on this Repor
when the facts come out; the Secretary gives
but one side,