New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1850-12-18

neTCI6I fluctuations III prices, IL constantly iorCel
upon the attention OF the Department by instances
Of extreme inequality and prejudicial operation.
| The European price of Iron was, in 1876 greatly
above that which has prevailed for the last two
years. II the duties upon bar iron have been lev
led in strict accord with foreign cost they would
now be but little more than oRe-haf OF what they
were in 1876 By this process, beside the I'm
mepEe injury inflicted upon domestic industry,
cur revenue is made to H1ctuate with the eccl,
dents and revelations in foreign commerce. ana
these accidents ard fluctuations, which originate
abroad, are imported with their attendant mis-
chiefs
Our revenue, as already stated. must be mainly
dependent on duties on imports. Those imports
from abroad can ONLY be paid for by exports made
IN of the products of our labor IL all its varieties,
or In the precious metals. II our imports shall eX'
coed the value Of our exports abroad IN any given
wear. to the extent Of such excess do we create
foreign debt Il this operation be repeated for only
few wears, it is obvious that II Will effect tue
withdrawal from US Of quantity OF the precious
metals equal, or nearly so, to the amount OF the
accumulated debt bringing with it bankruptcy In
all departments Of business, consequent Inability
to purchase foreign goods, and thus for the time,
causing ruinous depression In the receipts into
the Treasury. It then becomes equally the duty
of Congress- and the interests 0! the people 1T
POSSIBLE so to regulate imports as TO conhne the
importetions into this country, to an amount about
equal TO such exports OF our own as can ind
market at remuneratiye prices abroad The bare
statement of the foregoing well established laws
of trade would seem to furnish q safe guide IN all
legislation on the subject.
While importations should be secured in amount
sufficient at practical rate Of duties to supply the
wants of the Treasury, such duties should be ad-
iusted in a mannerto affect tavorably all industrial
pursuits at home. If duties on the necessary I'M
portations should have the etFectto impair the abl-
ity of the mass of the people TO purchase and pay
& A. tQt n q
must cease, and by cons quence the revenue to an
equivalent amount would be diminished,
1t ia believed that our own experience has
shown that our exports cannot be greatly extend
ed as some have supposed, by low duties upon
foreign goods in our ports II is fact within the
observation Of all, that merchants and shipoWn-
ers are ever vigilan and alert, with all the know,
ledge which interest can impart and all the skill
which experience can supply, to send abroad any
snd every product of this country winch can any
where find profitable market These agencies
which are always active, extend our export traffic
at all times to the utmost limit Of advantage to
the producer or carrier If at any time given
article of export should be carried beyond the tor
eign demand, reduced prices, the lnvarlabe result
Of oversupply, brings loss upon all concerned. ii
a foreign article is in like manner forced upon our
own market beyond the required supply, the Ell.
feet of reduced prices willie it inAicts often ruin
ous losses upon the importer from abroad, Is felt
by those engaged in producing the like article at
home in consequences tenfold more injurious as
the reduction Of price in our own market eX-
tends to and affects the entire labor OF the
whole country, which may be employed IN such
manufacture or productions Thus, while the III
Jury is temporary and limited in its effect upon
the importer, it is often lasting and widely eX-
tended upon the labor of our own people w
see and feel it in the sudden breaking up OF
establishments not yet sustained by an amount OF
ca1ital which can afford to encounter temporary
ofc md rndupp1
vet worked with that skill and economy which
long experience alone can impart. In such IN
stances, labor is suddenly Withdrawn from di-
versity of pursuits, and driven to the production
in a limited sphere this again brings an over
supply Of what may be produced by the common
employments, while in the end it leaves the mar
ket Of the article, whatever it may be, the pro
duction of which has been abandoned at home,
at the mercy of the foreign supply alone.
The result in the end to the consumer is invari-
ably a rise in the price OF such article, and there
being no competition with the foreign producer,
he has possession of the market and, of course,
supplies it at the highest price which the demand
will give him. His prices and profits unchecked
by competition in such cases, continue to rise
with the increasing demand and diminishing home
supply
The operation and effect of these laws of labor
and trade, it is believed, have been frequently aud
palpably exhibited in the history of our country.
1t is from such experience that the general prnCi
pies upon which our tariff laws are based, have
become the common opinions of the people. Hence
the almost universal Impression in our country pre-
walls, that in assessing duties on foreign mer-
chandise, such discrimination should be made as
will have the effect OF producing all articles which
can be manufactured at home in such quantity, if
possible, as to raise up two markets for the CON
sumer the home and the oreign-each competing
with the other, so that he may not be left to the
mercy of one, and that the foreign one alone.
The happy indirect effect of such Legislation
upon the labor, and, consequently, on the perma
neut pros perity oil our own country IS not the
greatest BY any means, OF tn blessings it confers
BY giving diversity to the occupations and indus
trial pursuits of the people, labor is rev arded the
ability to consume foreign products is attained
aud the wants OF the National Treasury, depend
ent entirely upon duties collected upon foreign
imports, amply supplied.
While the great end-that of a competent reve-
nue-is thus surely reached by this policy, alarger
amount of exports is at the same time obtained
towards paying for the required importations.
Our exports, as the commercial statistics will
show, are made up mainly OF cotton, rice tobacco
breadstuis and provisions These are the pro-
ducts Of the SOIL and are shipped to foreign ports
without more labor, as an element of price, than
is necessary to fit them for market in their first
and simplest condition. Our statistics disclose
the fact also that breadstutfs and provisions, of
which we can produce q larger surplus than any
other people, form comparatively small addition
abroad. These articles, inthe production Of which
so large and interesting portion Of our people
are engaged, cannot find market abroad at such
prices as the farmer can afford to receive except
when famine or war create foreign and ezcep-
tiona demand.
In i347, year of famine in Europe, we export
ed of breadstuiFs and provisions without pre-
moni,ion of the calamity which created the de
mand, s657Oll2I. This extraordinary export,
while our own market was fully supplied, pat be,
vond doubt our ability to supply Of these articles
surplus far exceeding the ability OF any other
not exhaust the value in the expense of transpor-
tation. The extraordinary demand Of 1871 was
not due to any Legislation Of our own or Of foreign
nations twas the result alone of the famine IN