The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1849-12-25


the world there must BE- the msrts Of the worid snc
the heart Of wealth commerce and power 1t is - vain
o. il would be to make crop BY building barn.
w Whether we can have workshops TO work up, at
least, our own materials muft depend geon tue Sus
tsges justify the pursuit Of this kind OF
The circumstances fsvorsbls to production In this
ing raw materials I'd Abundance OF fuel Sd
Abundance Of food and other articles Tor the
sustsnsnee and housing Of the laoorer 4th Inc sa
peror efficiency OF the laoorers In comparison WIN
those Of other countries.
The circumstances supposed to be unfavorsbls to
production Jay be thus ciesscu:-
Let. Want OF capital
I'd DEAFNESS of our labor, compared with that of
other countries
Sd nrecurity by exposure to the influence OF violent
and excessive nucuators OF price in foreign markets.
and to undue foreign corpeuton.
list. Capital which lie but the accumulated savings
of labor is believed to be abundant sm.ng ourselves
for any purpose which it be- probably applied
IL is more divided than in other countries aad
associations OF csryni are, therefore, more eommon
among than elsewhere IL will be increased by the
labor of eyery successive year aud for rea
sonsbly IL will flow in Whenever required tas 1t
has always heretofore done) from other cc1Dtries
where it nay exist in greater abundance The amount
Of capital required Tor large production Is not snor
nous. The whole capital, for instance employed in
the abshuent and rapport If iron works in England
and Wales n lS47 has been estmated at less than one
hundred millions of dollars; the annual production
then being about one million tive hundred Thousand
tons.
I'd. The difference between the price of labor here
anc Baitan Is certainly great and it il TO be
hoped and expected will never be diminished by re-
ducton Of wages here. The difference has been ett
mated at an average Of thirtythre per cent Pro-
baby the average difference is much more than that
In some branches such as the of iron 1t
is certainly much greater shis difference Is 10 part
compensated by the Disadvantages under which the
foreign manufacturer placed by the necessity IN soms
branches of procuring his materi. from great d.
lance Transporting heavy article OF production
(sueh as rop) To distant market In addition he is
pf,Sstd by heavy baIthen Of taxation The greater
efficiency Of our labor is to some extent an addi-
tiCpal compeDsatory element. This inclu les the
greater capacity Tor acqIiing ssil, tns 'opemor
the greater moral and physical energy, both of
action ana endurance. which cur people possess
in comparison with the foreign iaborer Better
fed, clothed, housed, aud educated conscious OF
the ability TO lay up tome capital annually from his
seNpgs- encouraged to invest that capital in the
t.rplise in which his labor is engaged-enjoying
practically greater civil and political hberty-loosiDg
forward an ibdeinite future in which through hi
own good conduct ard example he may expect each
successive generation Of his defendants TO be better
circunstanctd than its predecessors 1t cannot te
doubled that these advantages add greatly to the
efliciet cy Of the American iaborer The precise ex
tent 10 which they g. towards compensating the differ
in the price of labor. 1t Is dicdt TO define che
efficiency Il our lsber may be expeotea to increase
with the increase OF reward to the sboer In many OF
the New England factories the sboers are encouraged
to invest ther surplus earnings in the stock of the
paDy by which they are employed and thus stimu
lated by direct personal interest 10 the greatest
tiop Itay ke expected that this system will he ia
troduced into other branches in which it may be found
practicable tending does sopoTerfuly to elevate
the lab rer increase production. and practically iu-
sttuct ali in the great truth Of the essential har
mouy OF capital and labor.
80 Capital flows freely, at home aud abroad in every
productive channel in which it eau now safely, and
will even incur great hazards, II they be such its
may hope TO meet by the care and circum pee
ton If himself others to whom he has coufded its
management But IL he knows that skin industry and
economy cannot avail him, aud that, in addition Go all
the contingencies OF rivalry and markets. he Is To be
further exposed to dangers arising from causes quite
beyond his control counteraction be viii hold back
The oscillations which have occurred in policy
have doubt deferred large amount of capital from
ment offered on one day, and on the faith Of which
fixed Investments have been made which are exposed
t. Ices by the Withdrawal of that encouragement
the next IL in fact substantial encouragement. Aud
the insecurity resulting from the repetition OF such acts
has been seriously detrimental.
4th. The fluctuations in the foreign markets have
for many years been such as seem to denote an
healthy and feversh state OF business They not
In the natsrsl cour,e CT a Wholesome trade They
seem to betoken change IN existing arrangs ments,
and the apprehension OF sueh changes also enced la
the enorts making In England to susta the Bril-
tish manufacturer by putting at hazard other impor
tsnt branches Of industry. The competition OF new
establishments with very large ones already in exist
abroad aud IN which the price OF labor Ia lower
evidently not au equal competition The capital hxed
In machinery furnaces. sc cannot be changed, aud
the wGIk Of production will not until tine price
shall have been reduced to point very little above
the coat Of materials labor and repairs Of course,
where the lower price Is paid for labor there sil be
larger margin for reduction, by the fncIdce Of part Of
the proht and where great accumulation Is In hand
may find IL his interest for while to sell his
dity a less than the actual cost II by that means he
Qutrt Reimburse mept (at leas when he shall again
have the control Of the market.
Ibis known necessity Of the position Of foreign
nuiacturos Of course tends to discourage well
TO def at he successful operation OF existing inyet
nents Of capital here in fimilsr enterprises.
To counterfeit the influence Of these uBfsyorable cir
cumstauces, which, 80 long as they continue, must
greatly retard cur ad sancement limit foreign
morce and preventive due progress Of industry pro-
that the duties the staple commodities iEhe-
Their raw material or manufactured srtiolss Ia which
foreign nations compete with our own productions, be
raised 20 point at which they will sHJd substantial
and sufficient Mt 70 domestic Industry
proyiss fer the necessary increase aud due security OF
of the system Experience has, think, shown this 10
be q wise just and electua mode to promote aud
revive lar gushing branches Of industry provided the
selection q the effects be wisely made, aud limited
there productions for which the country Is naturally
ndspj,d
We have been perhaps, too long hesitatips and va.
cistirg On the threshold q great career The weat
Ct stability In the course oilsgilation. and other dis
turting cHusss have heretofore occasoned inconye.
nebo,s The tbort duration Of OF this tariff scs
tie great expansions OF the currency which have
cum ed during their Copr mise act IL
result II What believed to be political necssiityJ
which. whatever it's Effects On existing esablishmeuts,
urdouttedly discorIagsd nsw adventursrs and finally
the unexpected repeal Of The act Of croum
star ces have certainly been o. retsrding character
Yet It imposihle not 70 ob'srye thas NJ every ia
voIabe moment, vast movements 10 advance have
been mtde and that the ground thur gained has no.
been entirely Loot u j. believed that every article
the manufacture q which has been established here,
has after shat .satlilhment continued gradually 10
dDinish in price, ard that, without corresponding
reduction in the wages Of labor which indeed, could
not he dimbiuhed by reason Of an Decreased demand
for ~. Statements are annexed marked ~ exhibit
Ing tcfe Instances q his rrsult.
1hsse facts lead irfefistby 10 the coooliioa that
our labor becomes so much more efficient by
CURED ELM enlarged establishments, and new fscili-
ties derived from iIvntions that the difference la
price between 10 and the foreign labor however ferous
an obstacle TO successful competition, will become legs
with every year e our activity In The same branches
Of ibdustiy aud tina, ~ by folio ~, that labor
must be worse paid because its products sold
obeepr or that becsGss labor Is better paid it, pro-
duets must be sold dearer.
All that IL venting IA general determination that
II dustiy shall be Encouraged and supported in the
home production and manufacture az iren wool cot
ton, sogGr and other staples and that the legsla
ton necesay 10 fustsn IL shGl be firmly adopted and
perssvered in.
Will proceed 70 state the nature Of the notifications
Which tTTtars cSrcdisnt te the existing
and, urcquired will hereafter present Plan Ia detail
J. The rates q duty In oyinon too specially
articles SIMILAR 70 staples that tie
revtnuc has tufred materially from ths ersuusaace. In
deed, am compelled 20 believe that 10 would have been
ttJ omiriihe but for the ezutodlary demand for
ltarfu ard rr0sidons produced ny the in Europe
in ltiI tud rugd ~