The republic. [volume] (Washington [D.C.]) 1849-1853, 1850-12-17

creases. If applied to articles of subsistence, Il
: would operate as heavy tax upon bread in year
off,mine increasing with the intensity Of the evil
, and gradually disappearing with the return OF
abundance.
, The objection TO the present system, from com
mercia fluctuations in prices, is constantly forced
upon the attention of the Department by instances
OF extreme inequality and prejudeiaI operation.
, The European price OF iron was, in 1916 greatly
above that which has prevailed for the last two
years. IL the duties upon bar iron have been levied
IN strict accord with foreign cost, they would
be but little more than one. half of what they were
in 1916. by this process, besides the immense in.
jury inflicted upon domestic industry our revenue
Is made to iuctuate with the accidents and revul.
sions in foreign commerce. and these accidents and
fluctuations, which originate abroad, imported
with their attendent nscheis.
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
up of the products Of labor in all its varieties,
or in the precious metals. flour imports shall OK
coed the value of our exports abroad in any given
year, to the extent of such excess do create a
foreign debt If this operation be repeated for only
few years. il is obvious that it will effect the with
drawai from AS OF quantity OF the precious meta Is
equal or nearly 30, TO the amount Of the accumu-
lated debt, bringing with II bankruptcy in all de-
partments OF business, consequent inability to pur
chase foreign goods, and thus, for the time, caus
ing ruinous depression in the receipts int the
sury. II then becomes equally the duty OF Con-
gress and the interests Of the people (f possibility
TO regulate imports rs to confne the mporations
into this country to an amount about equal to such
exports OF our own find market at rcmu-
neratve prices abroad. The bare statement of the
foregoing well established laws OF trade would
seem to furnish safe guide in all Legislation the
| subject.
Whilst importations should be secured in amount
sufficient at practical rate OF duties to supply the
wants OF the treasury, such duties should be adj
Justed IN manner TO affect favoraby all industrial
pursuits at home IL duties on the necessary i'm
poratons should have the effect to impair the abil
ity OF the mass OF the people to purchase and pay
for foreign goods, then mpor tatons to that extent
must cease, and by consequence the revenue to an
equivalent amount would be diminished.
IL Is believed that our own experience has shown
that our exports cannot be greatly extended, as
some have supposed, by low duties upon foreign
goods in our ports. 1t is fact within the obser-
walton of all, that merchants and ship owners are
eve~ vigilant and alert, with all the knowledge
which interest can mpart, and all the skill which
experience supply, to send abroad any and every
product of thia country which can any where find
profitable ket Thescagencies, which are always
active, extend export traffic all times to the
utmost limit ofadvanage to the producer carrier.
IL at any time given article Of export should be
ricd beyond the foreign demand, reduced prices,
the invariable result Of oyer-supply, brings loss
upon all concerned. III foreign article is in like
manner forced upon our own market beyond the
required supply, the effect Of reduced prices. while
1t niicts often ruinous losses upon the importer
from abroad, Is felt by those engaged in producing
the like article at home, In consequences teniold
more INJURIOUS, as the reduc ton OF price in
market extends to and affects the entire labor of
the whole country, which may be employed in such
manufacture productions. Thus, while the in
jury ID temporary and limited in its effect upon
! The importer, 1t Is often lasting and widely ex-
tended upon the labor of our own people We
see and feel 1t In the sudden breaking up of estab-
| llshments not yet sustained by amount OF CAPT
| tai which can afford To encounter temporary sus-
pension of sales and reduced prices, or not yet
worked with that skill and economy which long
| experience alone can impart. In such instances,
labor is suddenly withdrawn from diversity OF
pursuits, and driven TO the production IN a limited
sphere; this again brings an over-supply of what
ever may be produced by the common employ
inents while IN the end il leaves the market Of the
article, whatever it may be- the production of
which has been abandoned at home, at the mercy
OF the foreign supply alone.
The result III the end, TO the consumer is inva-
riably rise IN the price Of such article, and
there being no competition with the foreign pro-
Queer, he has possession of the market, and, Of
course, supplies 1t at the highest price which the
demand vail give HIM. His prices and profits,
checked by competition in such cases. continue 10
! rise with the increased demand and diminished
homo supply.
The operation and effect of these laws of labor
aud trade, 1t is believed have been frequently and
palpably exhibited in the history OF our country. Ii
10 from such experience that the general principles
upon which our tariff laws are based, have become
| the common opinions of the people. Hence the al
most universal imprcssionin our country prevails,
that, IN assessing duties on foreign mef chandisc
such discrimination should be made will have the
effect OF producing all articles which can be manu-
tlctured at home in such quantity if possible,
g raise up two markets for the consumer the home
and the foreign-each competing with the other,
80 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 permanent pros
rerity oil our own country, is not the greatest, by
any means, Of the blessings conters. BY giving di
versity 70 the occupations and industrial pursuits
Of the people, labor is rewarded, the ability to con-
sumo foreign products is attained, and the wants
| a.
duties collected upon foreign imports, are amply
supplied.
While the great end that Of competent rcve-
nue-is thus surely reached by this policy, a larger
amount Of exports Is at the same time obtained TO-
wards paying for the required irnportations.
Our exports, as the commercial statistics will
show, are made up mainly of cotton, rice tobacco,
hrcadstuIs, and prov isons These are the products
Of the soil, and shipped to foreign ports without
more labor, element Of price, than is necessary
to fit them for market in their first and simplest
condition. Our statistics Disclose the fact, also that
breadstuiIs and provisions, OF which produce
a larger surplus than any other people, form com
parauyely small additionto our exports, partcu.
Ltrly in years Of plenty abroad, Theee articles,
IN the production Of which SO large and inte-
rsstng portion Of our people engaged,
not hnd a market abroad at such prices as the far
mcr can afford to receive, except when famine or
war create foreign and exceptional demand.
Ia lS4l, year of famine in Europe, We exported
cf breadstulls and provisions, without premontipn
of the calamity which created the demand, Sos
|
market was fully supplied, put beyond doubt our
ability 10 supply Of thcsc articles surplus far e1-
cccdng the ability Of any other country, provided
a market were found which did not exhaust the
value in the expense Of transportation The extra
ordinary demand Of lsH was not due 10 any legis-
ltiOn OF our own, or of foreign nations. IL was the
result alone OF tue famine in Europe. Since that
time the operation Of the British revenue act Of
80 has wholly removed the duties upon such for
eign agricultural products as arc uscd for food
add ours enter into competition there with those
Of other nations. This free passage through Brit
in custom. houses has not, however, increased
tho British demand, for we find exports
diminishing Ia proportion as the effect Of the
famine is overcome by the subsequent abundance;
thus the export Of breadstuns and provisions In
la S65 ,7Ol ,92; in lsis S37 472,75; in 1919
, 8, 55 ,5O1, and Ia 1850 S26,05l J73 (sce state
uent y Our exports in 1884 (see same state
ment) OF these articles II ,b3s 227; in lSll
" g6 ,O2; and, at the ratio of decrease exhibited
since lS47, will, in 1851, but little exceed the latter
amount
The exports Of rice in 1927 amounted 90 S2,-
ga, 9Os IN 1885, 10 81 800 ,279 and in ls4S tthc
year after the iamne,) TO S2,33l ,s24; in 1850, TO
. - haar Iafs sttt.