Burlington free press. [volume] (Burlington, Vt.) 1827-1865, 1850-05-24

that any more effectual method OF increasing
| intiyidral wealth cen be devised, than TO per-
init every person to make bis purchases il the
cheapest, and his sales in the dearest market.
Every man considers that market the best
in which he is able to obtain the highest price,
or The greatest value in exchange for his goods
why then should he be excluded from it p
Instead, therefore, Of endeavoring to tettcr
or restrict the trade with those countries from
which we should otherwise import greater
value than we exported, We ought to give il
every possible facility"
The foregoing extracts from McCulioch's |
Essay on Exchange we have frdnSpoSed, IN |
order to OBJ ain a clearer view of his argument. |
The first statement is the base of his free trade
tn ory, understanding by itself-it is true. We
have no direction, either to the second, nor to
the answer which he would give to the ques-
, ton az ii.s end Of it but The deduction from
these two, which is contained in the last, We
deem to be tlacy.
We agree at orc >, that the market in which
a mau is able to obtain the highest value for
what he has to sell, is the best for him; and
we also agree that he should not be excluded
from it--as a General rule.
l.. Bat let Us apply this theory TO our own at
fairs. All the goods we have to sell are the
production of oar labor; in other words, we
want III best ma kei for our laJ0r: and that
- al. ,cb,
y for it is the best one for us
}, We suppose it will be freely admitted that
s the average rate OF wages ID Europe VIII, not
,. vary much from 'n,tty cent? d Jay ""u We
suppose nat we SNal! De consuereu qulte wlIn-
! in the mark, "heh we assume t.e sa'iIc 'ae
i. here TO be seventy FIVE cents. Now, with
,o perfectly free trade, it is clear that every arti-
>, Gle made or proc"ced IN any o'her part OF 'lle
y world can be landed on our shores Just so much
cheaper ''sn 'no SUM ,"'IE r va" !" IN ,hr
Is p'oauIe'' AZ 'n'Ij r in,n ,ho mannf,c
ID ,,,,, W. mr,c,in nf il lbs rho exnrnse OF
OF ;,noor,oi;on rakn Iran. for examn).. San
nni,, III, labor rcrn,.rntri in a ton Of (orern
'r.,, f., ho l.I5. then = IAN of iron made h re
OF -, rho tr.ren,e in the r,tes Of waves. will re-.
lie ,.o.,,,, nr onrIh,r s}75o Fr7r, ibis suu
n t.dnt ssG ~ far cvcru.ps nf imooriaiiun. and
10 Ihn G,reir, ,rar can be sold for SlG less than
M nuroyn. and lie natural and inevitable result
no ,,,,s'.t'nJ,, ,l,a nrnlnc,ion orirnn
ITO or reduce o. aay for LlJor to the standard OF
o Europe, lsss the protection afforded BY the cost
IL of jmpprtai on,--'hat is to say, from seventy.
al five to forty-th'ee cents. But when this iron
IS still further operated upon by labpr,--con-
verted into cutlery and other thlngs,-thc d.Ht-
nd renee is yet greater. tie cost Of lranspor. being
a mere fraction of The value, ard attlrding NJ
nerccptib!e protection. We must therefore
III abandon all the man .lactures for which iron
of furnishes the material, or the wages OF those
nd empoyed in them must come down to the Eu.
he ropean level Ice same cause operating upoI
me an other ofa"c"os VI ,'uustiy' WIN p'uuuc'
An e s"'1 Ike oonn,rn wonId nscossariIy si1 II
i've he ayer,,,o rae Maid nv the rest of the world
ba On the other hand under protective sys
hn tenn Which imposes duties on imports equiraien
' 10 the drersnce in lie rGlue Of labOr-our rate g
ny to tue important Guestion-wh CT is the be-
res, market for our labm ! Is it that which pay
md just enough to keep soul and body together,