The Caledonian. [volume] (St. Johnsbury, Vt.) 1837-1867, 1850-01-19


tabor hrrr aud 90 Great Britain 90 certainly
Frrat and q 10 o. br hnprd aud expected, vii
never be- diminished by o TrdfiCinu III wage
hrfr. Tin difrr 'uuF has brff rstimaird al
an average ~ iiitfiTr 'i'rrr Ucf cent. fTubH
lly thr avefarr difrrpnrf b muci more Than
tiRl 10 some bwuchr', such 40 ibo manu-
tTlufr NJ iron, n is certainly HNch greater
The d.iir renee b. 20 port compensated by tho
nts1dyHuiHgrH under which no tprrign mana
iHruur n placed Nv he urcrssny IN soWe
branches 81 procuring he INV material ron q
Vfrpl diHlaUrr, ~ transporting heavy article
ut production tufri 40 nom 70 distant mar
vet la adduiml5 he ~ prrsrrd Ny o heavy
bGrihrH ~ l1Kati0n. The greater ritirigHry
ui nuT labor ~ a. some CEirut an additional
compensatory riruqU' This includes the
pfrairf c7pHrtY frWguinng Fkill, tho Hupe
rnr grurml Intelligence, ihr higher Inventive
faculty, lin gwHirr moral and physical cncr,
py, both ~ artiOn and endurance, which our
people posscss IN comparison win che foreign
lHburrr Better ted, clothed, houa'd, and cd
Ucaiin conscious oiihr ability tn lay up some
vap'll annually from hin savings cNrnufag-
~ Z" invest that capital Ia ile enterprise ~
which his labor 10 cughgrd eujoying pfaeut
rAlly greater civil aud political Liberty, look
,0g tTWurd 10 no lndchnle future 10 which,
through hH own good conduct and eEHHpir,
de- WHy expect each successive generation 81
tiH descendants 10 be- better oifcumslunced
thtn IL pf dceess0fs,ll chph0t b. dUublfd Ihai
these advantages add greatly 20 the efficiency
~ the American hbofrf The precise r1tcut
iG which they 70 towards compromising The
difference IN 'tr pfcr ~ tabor, "A ID difficult 60
rrhne The efficiency ut our labor may h.
expected 60 Increase with the increase ~ fe-
ward to the laborr Va many Of the New
England factories The lAbofcfn are encouraged
90 invest their surplus ealnlngs Ia the stock
~ tie company by which they are employed,
and arr thusslimuihtcd, by direct personal IN
trusl, 90 the grrnleft cEefton II may be- OK.
pcctrdth this system will be- introduced ia
60 ether branches In which u may be- found
VrurtirUbir, trndrHE, NJ Il durH, ~ powerfully
90 elevate the labofrr, increase production,
and particularly instruct all men w tho great
tru'h Of the essential harmony Of capital aud
ilurr
%, Capital flows freely at home and abroad
rvrty productive channel IN wHrh i can
flow safely, and will even incur great hal1rdH,
II they be- such NJ its owner may hope 10 meet
w Tie cnru and cltCnmapcCli0n Of hlmacli OF
Ulbrta 10 whom hr has CUnndrd III manage,
mcnt lut II be- knows that skill, industry
aud economy cannot avail him, aud that, IN
addition 90 all the contingencies uf rivalry
and markets, he iato be- further exposed Ia
dangers arising from causes quite beyond hiA
control or Countcruction, he viii hold back
The yHcillUuns which have occurred ~ Dur
policy have no doubt deferred a large amount
.frRpithl from Investment IN industrial pur.
cults The encouragement offered IN one day,
and on the tltth ui which hScd investments
have been made. which are exposed 10 loss by
Tia Withdrawal Of that encouragement On the
ucNl,is IN fact substantial Encouragement 49,
And the insecurity resulting from the fcprt.
ton ol such ncls has been seriously dctrmen,
ipl
f'h. The innuctuaiiuns ia the foreign mar.
kcis have for many years been such ~ seem
90 denote on unhealthy and ftyctlsh state Of
husiucss They are not IN the natural course
a 1T. -.
~ change IN existing arrangements, and
Nih" apprehension Of such change ia also y.
v,nrrd IN the efforts now making IN England
to sustain ,hc British manufacturer. by put.
sing nj hazard other important branches ot ~.
dnFefy The compctiuOu Of new establish,
mruls with very iartrr on,a already ~ cN,s..I
irncc abroad, aud IN which the price Of labor
~ lower, iseyldcutly not m equal competition
The capital fixed IN machinery furnaces, x C
cannot be chhngrt, and the work nj produc.
Won Will not cease until The price shall have
bctn reduced 20 a point very little above the
cost Of materials, labor, and repairs, OLcoursc
where the lower pticc IN paid for labor there
will be- larger margin for reduction by the
sacrifice of part of the profit ADD where n
great accumulation IL IN hand Of t!I.-a2tils Of
the business Of former ycara, the owner may
find II his interest for a while 10 sell his com
modify al less than the actual cost, if by that
-GneAas hr can drive out his rival, looking, OF
coutsc, to subsequent reimbursement (at lcnst)
whcu he shall again hnrc tho control Of the
market.
This known necessity uf ihv position Of for
uiFp manufacture Of coarse tends 10 discour.
uge new nB well MS 10 defeat the successful
operation OF existing investments Of capital
= t.Fe ~ siai,laf ..titrfpfisc
To countctIct the influence Of thcsu unfu
vorable circumstances, which, SO long as they
---rr+Tuuvi UIuU gfyedy Utatd our advance.
mcni, limit our foreign CONNIE re-, and prevent
tie due progress ofinduStry, | propose that
the duties on the staple commodities, (wheth.
~ PAW mGrCTGt OF manufactured aftiGlys,) in
which foreign nations complete with our own
productions, be raised 10 point nj which they
wit afford substantial and sufficient cncour-
.agcmcnt to our domestic industry, provide for
aife necessary increase sud due security Of the
revenue, aud cnsurc the pcrmanencc nnd sta.
eility ofthc system. Experience has think,
shown this to be wise, just, and cHeotual
mode 10 promote new, and revive languishing
branches of industry. provided the selection
of the objects be wisely made, and limited 10
'thosr productions for which thcrountty is nat
uraly adapted.
We have been perhaps too long hcsitating
and vacillating on the threshold GA great
recr The want of stability in the course of
legisiution, and other disturbing causes, have
heretofore oecarioned inconycnienccs The
short duration Of some of u,e tariff ncts-the
treat OK pnnBion II the carrcncy which occurr.
ed during their oprrutieu-ttu Compromise
net, IA result of what WAS believed to be n pc.
iitlcai ncocssity,, which, whatever its effects
ON existing establishments, undoubtedly dis.
courogcd new Hdventur sand finally the un.
expected repeal Of the act of isi2-these cir.
.runstahccs have certainly been Of n returding
character.
Yet il is impof sfbIe uot 20 observe that, nj
every favorable moment, vast movements in
advance have been made, and thatthe ground