Richmond palladium. [volume] (Richmond, IA [i.e. Ind.]) 1839-1854, 1849-06-20

Wealth Of New York and BostOn.. Labor
and Free Trade.
The Boston Alias has lately given publicity TO
comparative statements OF the value Of the real
nc personal property in New York and Boston
in so and in lsi7 The population of \. York
exceeds tina, of Boston abou, L. hundred per
cent. The estimated value of property in New
York is only fifty per cent, above Boston. The
valuation in ls4S Of New York ami Boston, is
gwen follows:
n York, 1913 s29 ,o.6 6l.le4.45l sa54. 80.
Boston, 100 .403. 300 ISL 500 Sl67. '2- ,oo0
Increase in years IN New York, ! $50 900
- :. Boston, 13,li6.iou
The Atlas, appropriately. says:
Tile taxes assessed in New York. in 1873,
amounted 10 gals, $40. Of which $50. 60
rather less than 10 per c-nt,-was for eauc5 ton.
/ The taxes of Boston, for the year.
Sl.l0O. 900, OF which 1903 ,o0o-about PA per
cent.-was for our public schools. rom these
facts, il is evident that the children OF city
much better educated than those Of New
York, and II is TO this very ludicIous investment
Of portion OF our money that we are disposed
10 ascribe large share of our prosperity; fer an
intelligent we'll educated population wiIl pros
per, where a slightly educated. haif-awake peo-
pie will stand still, But that Is d
point which We 90 not intend TO discuss, at tins
time.
"In proportion TO lis popul aton, Boston is the
richest city in the u nion and Vet II curious
fact, that the daily labor OF her citizens produces
more annual Income than produced b. the
whole amount oil her vested capital. large it is
The interest of that capital Is about Sl0,uDDnoo;
while the labor of her 10000 men, at the very
mode wages of d dollar and quarter a day ;,
exceeds ; ii 900 900 Annually.
1T is often remarked, and with truth, that the
democratic policy Of free trade tends directly
to make the rich richer and the poor poorer The
+ fuu I,er Ia how The
vested capital OF Boston belongs, not to the
whole population, bat TO comparatively lew
! rich men. \ system which tends to decrease
the value OF labor, leaves that source of income
untouched. 1t produces still its 5 lU0Un,U0U an
uuaIly; but Il great portion OF that income is PAID
out by the receivers Of it, for ltbor-buil6ing
ships, houses, railroads, &c, as further Invest
men,s OF wealth and for all the ordinary purpo-
SEES and expenditures of life. 1t is paid TO that
other class, who earn the II 900 900 ana upward
by the labor of their HANDS. Now, if the de-
mand for Labor is much diminished, that this
class obliged TO work for dollar day, IN
stead of "a dollar and quarter. they earn but
$1,000 900; aud the difference of S2,2o0, 900 is
SO much saved by the rich at the expense of the
poor. They have obtained for nine millions the
amount OF labor for which they woulc have
paid eleven and quarter millions, and SO
much richer while the workers precisely so
much poorer \ nj. of course, 9TH every re-
duction in the price Of labor the difference is
still wider. The rich grows richer with
greater rdIiOltN, ana me nope OF Tue poor man
that he shall one day retire from the field of la
Dor. grows fainter with every passing year
Thus far, we suppose every one will agree with
US: and we intend to make the rest Of our prop
osition equally clear.
elf two sheets of water separated by q
dyke-if one of them covers but small space
and the other very large one, and that which
covers the small space IS several feet higher than
the other, we suppose that II the dyke is reno
we'd, the small and higher pond will run down
hill and fluid its level with the larger and lower
we have not the slightest idea that the large one
will run up hill and find IFS level in the other
Gas compared with all the rest of the world
labor, III this country, stands about four TO one,
and il stands because 1t is prot-cted-has bee n
and still is some what, vs. should say. This pro-
lection is the dy Ike which separates the higher
from the lower pond, and which free trade pro-
poses to remove with the bold assurance that the
relative difference will not be altered, or, if al
tered, that it Will be improved 10y the operation
, 1t makes qualification, it is true. Water may
down hill # there is nothing TO prevent il
il is barely posshIr hut If ii does-if the price
of labor falls IN this country to the level of the
rest of the world, :he loss will be amply made NJ
hy-cheap cloth and cheap IRON These are thu
| quid pro qno nothing else. House rent Will not
fail--taXes will not fall-salaries will not fall
bread, meat, potatoes, fruit, will not fallfor We
are exporters now of every thing eatable;-hu
the man who lives by the sweat Of his brow anC
the work of his hands, will save twenty per &c Mt
on all tie cloth and iron he uses-pe rhaps. We
say perhaps, because do not believe even Sc
much of he theory. But, granting all that free
trade assumes the great masses OF the people
would make this saving on cloth and lron-whicl
we leave every one interested to estimate the
value of--whle they would lose three fourths o
what they now earn, and every dollar OF tina
loss would be so much gain to those who have
capital enough to live without labor, we h ave
explained above. The advantages to the pos
f SCISSORS of wealth in such operation grea
and obvious and Yet this strange and acs;ructiv.
policy is urged for the especial benefit Of In,
poor