The daily union. [volume] (Washington [D.C.]) 1845-1857, 1851-01-18
The Treasury Reps,s.-Ths Hs,ns Market.

The Treasury Reps,s.--Ths Heme Market.
In paper of yesterday we explained the difference
between the natural home Market which exists indie
pendent Of legislative enactments and the artificial home
Market TO be built up by prohibitions and restrictions
commerce, which the friends of high tariff urge
justification OF class legislation. We have stated the
manner in which this artificial market is 10 be con-
structsd and have demonstrated not only that the
cost of its construction would fall the producers Of
raw materia-he agricultural nierest-but that ad-
dtonal burden would be placed the national produce
lion, which would have other tendency but TO advance
the private fortunes Of those disinteesed who cry
aloud for protective duties manufactured goods for the
philan,hropic purpose, Of bene6ng themselves but
OF aiding and encouraging agriculture The labor and
capital employed in producing products modestly
requested not only TO furnish revenue TO meet the
penses of the government, but to furnish the American
manufacturers with the Of buying MATERIAL
Of furnishing home market-and at the time OF
reserving for themselves enormous fortunes.
The labor and capital in any employment furnish a
market for the labor and capital engaged in other employ
men,s This is the result of the division of labor and
the various adaptations of soil and climate. This na,u
raj market exists in every community. and it exists
throughout, the world The monopoisis wish to destroy
portion OF it, They wish to cut of the foreign portion
OF this natural market and in order to accomplish their
purpose they offer TO purchase that portion of surplus
production which is sent abroad, provided they are
furnished prih the Of establishing employment
not demanded by the necessities OF the nation, and at the
same time are enabled amass fortunes, by way of
compensation for their humane patriotic and disntees
ed services
Diversity OF employment, we know, is the foundation
of all trade. Without il no market would exist But
aver that there natural laws which will
many different empoyments TO exist in every commun-
ty and in every nation the circumstances OF tina,
munity or nation may require II the condition OF a
ton requires the existence Of any branch OF industry
it will exist because the demand for its products will
suffice for its creaout will pay the price necessary
create it, This truth springs from the laws which regu-
late supply and demand The demand the supply
and the supply will always be furnished in the community
in which the demand exists provided other communities
canno, furnish il on better terms Hence it follows tina,
every employment which community or nation requires
will exist in that community in that nation. and fur
nish the home market which that community nation
requires.
But Mr.. Corwin and the monopolists are not satisfied
with the natural laws which regulate trade They demand
that the government shall take the matter into its
sdeaon and check the foreign supply by restrictive du
ties for the purpose Of erecting artificial extension Of
the natural home market Suppose that Mr.. Corwin and
his compeem rght-supposs that their shallow
sophistry 10 genuine logic: let us see what il viii
lead 10.
We have already remarked that trade between nations
10 system OF barer-ihe precious metals being, like
other commodities, subjects OF barter. Now, MIR Corwin
proposes no limits 10 his efforts to build up hons market
Leaving out Of view the necessity Of admitting imports in
order to furnish he proposes limits and, in
deed, his line OF reasoning fosbds him to do We will
suppose them that his theory fully carried out in prac
,ice what would be its eHec,i Let SEQ.
First OF all the taxes on imports would diminish the
fund at the disposal OF foreign nations wheewh to pur
chase our exports The protsctionsts admit that il for.
egn nations will not receive into their ports the products
OF America, then cannot trade with foreign nations.
Mr. Corwn himself contends that an Of import
over export is runous 10 nation On his principles,
therefore, the United States could not MAINTAIN import
trade without export trade and IL other nations refuse
to take our exports, we may not Ysf~ss but
UNABLE to import their products into the United States
These remarks a. true Of England. Fnnceo Europe
and Of the whole wordas they Of the United States
II follows, then, il refuse to take foreign pro-
ducons other nations will be able consume our
own productions On the principle laid down by Mr. Cor
win Engand for example, cannot allow her imports to
exceed her exports She must Of necessity rssct her
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