The daily union. [volume] (Washington [D.C.]) 1845-1857, 1851-01-07

to. Mr.. nsyly reported bin to provide for
In the appropriations for the present fiscal year. The
Houss than adiourned- 4. Ga sss s. .a,s, y,ss,H
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sgs ga TAs Ts>.ssry Rsport.-TAs Tarn
In our last paper commenced the consideration
Of that portion OF Mr. Corwins report which relates to
the tar; and forced to conclude our remarks
while we wers exposing the falIacy OF that theory which
requires that nation should import than it exports
~ to create balance be paid in specie We there
fora continue our remarks on that subject
In the first place, would remark that no specua-
lions with regard to commerce, indeed with regard to
any other human operation can be considered as sound
and tenabe, unless they have foundation in the mo-
hvss which ordinarily regulate the actions OF men, The
proteconists lose sight oor rather they shut their
eyes tothis plain fact when they suppose tina. our mer
chants are willing to import goods at a sacrifice Mr.
Corwin sndsavors to avoid this palpable absurdy by
drawing line Of demarcaon between the exporting and
importing merchant, 80 that he may argue upon the sup
position that the importing merchant will obsinaely per.
st In carrying improbable and runons trade He
comedies the ea&acy Of erpong merchants and contends
that they will always find the best markets abroad and
aval themselves OF those markets; but at the same
time he argues the suppositon that the importing
Merchant win 40 far forget his own interest as to con-
haeountry by bringing ports goods than the
county can pay for. without runous expectation OF
specie But have already noticed this point OF Mr.
Corvios argument. explaining, at the same time, the
laws which regulate the transmission of the precious
metals. We will only remark now, that although par.
teass marcsntils transactions may be-and frequently
arssunous to the parties engaged in them. yet cannot
b. presumed that ruinous trade viii exist without pre-
sspposipg the insanity Of hoee engaged in it, Men trade
for pro6t and not for loss. A osng trade will speedily
b. abandoned; profitable trade alone will be con-
tnued ~
Bot We will consider the subject Immediately as
Mr. Corwin presents il, and continue exposition OF
his idea that Of imports exports indicates
trade Injurious to nation. This idea at once falls 10
the ground unless it be admitted that individuals may
carry 90 profitable commerce which is at the same
time injurious to the nation at large. We can by no
means admit this fact, yet will leave il OF con-
sideraion for the present 4 .sl ..5...
We stated in last article that trade between ma
lions was in the aggregate exchange Of commodities
specie being imported exported in obedience TO the
laws which regulate the import export OF other
commodities. These facts, when duly considered, will
OF themselves TO expose the mercantile theory of
the manufacturers and monoposta But there are other
from which materials may be drawn 10 expose
the fallacy OF the idea that the government should pre-
vent, by duties prohibory, partially 80, excess Of
imports exports, in furherance Of the idea that ex.
ports should be made 10 exceed or at least 10 equal the
imports.
Our exports are valued in our own ports-our i'm.
ports valued in foreign ports, or rather in &C
cordance with the invoiced price. We will then sup
pose that ship sails from the capes Of Virginia, with
cargo OF tobacco valued Al 800 ooo for Liverpool WHY
does that ship ssil VIM such freght' Because the
exporting merchant who sends il abroad believes
that he pay freight insurance, custom. house du.
ties, and other charges. and sell il at Liverpool for
sufficient to reimburse him for his outlay and pay
him reasonable profit otherwise he would not engage
in the business In order to do this il is necessary for
him to sell his cargo in Liverpool for 3ioe 900 to
pay him six per profit the price OF his tobacco
But this il all He sells it for enough pay freight
and other charges So that, while be has realized per
cent his cargo, he has given wages labor and profits
to capital. which does not enter into Mr. Corwn's Gus
tom-house entries Of export and import, We suppose
them that having paid all expenses he has in Liverpool
100000. What does he do with it, II specie is
in the United Stes he will transmit SO6 900 in
spees OF its equivalent having eye to the Of ex
changes II he transmits spece-whch is the best thing
he coold do in national poin, OF view according to Mr.
Corwin's ideas-then the account would stand thus,
Export-tobacco 600 600
lmpoH-sPecie 100000
1870 + r. ..5s,1I sz.g-, - 81 ss 5000
This operation-whch every one will gives profit
to the nation Of $4,000, besides paying freight to our tom
nage-would. according to Mr. Corwins ideas, make an
unfavorable balance OF trade, although brought nothing
into the country but specie which he and the class of
political economist TO which he belongs conounds with
national sDeai1tl s r
Let now take another view of the case We will
suppose that the tobacco shipped to Liverpool bad
speculation that the exporter nstead Of realizing profit
realized oss Say that after paying all expenses he
finds himself 10000 out Of pocket Then the custom
house booka wonld show the following state Of facts
Esport-tobacco. 100000
Import-specie, $4,000
f.a - 90 900
Here we would have profitable trade according to
Mr. Corwin's ideas. The exports would exceed the i'm.
ports by twenty thousand dollars,hs nation has cold
twenty thousand dollars more than has expended The