Richmond daily times. [volume] (Richmond [Va.]) 1850-1853, 1850-12-20


ment--. The datesembracst
duties OF comparative free trade at nae and ~ me
principal market abroad These facts disclose the ial-
lacy Of the principle frequently urged' that by nau
eng heavy importation under system of low duties;
we necessarily create large corresponding demand
abroad for our own productions
Whatever truth there may be in this principle as APP
Piled to the trade between other naons Of the world in
consequence OF the relative nature OF their productions
and manufactures has not tine same application to the
United States from the simple tact that nearly all inc
supplies whicS1e latter furnish to foreign nations con-
ssts Of articles of necessity the consumption OF whcn
is limited to actual wants, and cannot be forced peyono
that demand, by adventitious circumstances. Wnen
high degree Of prosperity exssin the United ot3fes, We
see large increase in the consumption OF most Ioregn
predictions which may be generally classed uader we
head OF uxues but have no such class OF arnces 70
tempt ofeign nations in like manner to extend their
purchases from in reciprocaon Tor extended supplies
No nation will purchase from u.s. no how pros
porous NAV be her condition, larger amount OF bread
Suits than the deficiency in her own ability to supply
will require, even though we buy from her double or
treble the of her productions 80, ~ Ike man
ner when her crops fail, she not only WILL pnt musl'
take from other countries wha the wants OF her popu-
laton requires even though pc three or en-fold what
they take from her.
This principle was fully sNenpliiied in the famine
wear of of lS47 when immense supplies OF bread-
stutfs to Europe caused such heavy balance 10 our
favor even though it did increase our imports from
the very cause already alluded to- OF creating such
degree OF prosperity in the country as to extend our
desire and ability TOR The consumption OF such articles OF
foreign Injuries could not supply ourselves, and
the opposite result exhibited at the present time, when
we are making excessive mporations, not only with
out an equivalent extra demand, but, on the contrary
with diminished one from Europe, Tar below what
she took fromus when our mportatlons were SO much
| less than they now are.
The foregoing statements show that the farming pop
ulaton of the country, without any extraordinary ST.
mutations, produce supply equal to Soc, III
meet any urgent demand of foreign Market an amount
than equal TO the average value OF the export o
frOraf hIa
But we find this sum of nearly sixty-nine millions
which rewarded the toll OF the farmer OF the country In
l847 dwared down in 1850 to the comparatively ~
significant amount of $26 05I ,373a falling OFT inthe
rewards OF labor of the farmer alone twoears OF 42
| $50 $40
| When it is remembered that very large propor-
ton OF the citizens OF this country are engaged lne
business Of farming, and how much of the pertinent
! wealth aud Of the glory OF the republic depen6 on
their well being and prosperity, it would seemto De
the dictate Of enlightened sehshness, as well as ouly
of patriotism, to mould, ii possible, the laws regu-
ating trade and revenue, to furnish tor them anome
| permanent, market wit remunerating prices AS no
such market can be found abroad il may well uggest
the inquiry whether legislation in providing, OF necessary
| for revenue, shall not, by encouraging diversity OF
employment in own country, secure me oily SAFE
and sure market for farming productions which can
| be obtained. :,
The policy here suggested is strengthened BY COM
parison of the value and amount OF the homeas COM
pared with the foreign market 1t mas oeen stlmaiea
that our consumption OF iood ramen iurnlIue, Gc az y,
81, as shown by statement - are of foreip produc-
ton, which say at $500 per head would require an
importation of about $l5O,00O,00O It will once ap,
pear how insignificant this amount is wher compared
| with the amount OF home products consumed. upon
the basis of 800 per head the foreign proMcion ln
nishes So so per head, or in the aggregate
the residue OF $685. each requires annual me sum OF
81 100 900 900 to be supplied by our own us'ry. ny
reference TO table - it will be seen thatour average
consumption OF imports per head TOR tnify years mas
been "a. Any material excess over tint average as
in the years Of 1856, and 1889, has bea surely ioi