New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1851-09-22

day for seyeaty-hve per cent. OF their cost.
But they won't touch them. Those who
say that Manufactures can % well without:
Protection. If well managed, arc careful not
to risk their fortunes on the truth Of their Is
seItions; and Mr. Douglas plainly admits
that he neither expects nor desires any such
result Is the growth and prosperity Of oar
Manufactures in the absence Of Protection.
That would subvcrt his whole argument.
which implies that our highest good 5 to be
found IN supplying Europe with food, and
Of course taking Manufactures in payment.
since we cannot sell unless We buy. The
Free Traders thus virtually abandon tie
field: and confess that, if we are to produce
our own Iron and Fabrics. We must for
time have Protection.
Now suppose we who stand for Protection
had the power, aud were 10 revise the Tariff
next winter, imposing for example duty of
ten dollars per tun on Pig and twenty on
Bar Iron: where would be the monopoly ?
W. never expect nor desire to make pound
of Iron. though we buy and consume much
Yet We feel that such duty would largely
contuce to orr prosperity by creatog,
among persons now unemployed or meager-
" rewarded, new class of buyers of news
papers But who would have monopoly
under such a Tariff Not the Protection
ISIS. surely for the business of Iron making
would be as free 10 Free Traders as to
them Not the present Cor recent IRON
makers for there are any number of IRON
works now in the hands of sheriiis, as
sienees, &c TO be bought at a bargain, and
thousands of iron ore and coal-beds vet un-
opened to be had for a song If none of
those now private property would suit. there
are tens of thousands Of acres TO be bought
of Government Tor ten shlllingS per acre,
or with Land Warrants for less than 4 dol
lar. and we are IA favor Of gIrRg them in
limited areas 10 all who need and will i'm
prove Them. If the effect Of the new duty
should be 20 raise the price of Iron even
ten per cent. above the cost OF producing it.
an immediate. inevitable consequence would
be The concentration of more capital, skill
and labor on the business of producing
Iron. until the price should be reduced
10 that point at which the reward of the
capital and skill required to produce it
equals in the average those of like amount
of capital aod skill invested In other produce
tive ayocations. The momentary rise above
this point would insure a great diversion
of capital and labor from other pursuits to
lIon-making hence a reduction of the price
of Iron below the cost of making it, soon
followed by just and steady equilibrium
between supply and demand, cost and price.
These truths are familiar to every man of
buslness-to every man of average infOrma-
ton and disceTnment. Though the duty on
Iron were a hundred dollars per tun, the
price could not. except possibly for 4 mo-
mont and with certainty of correspond
inc revulsion, be raised above the cost of
production. The cant of Protection Great
ing monopolIes," therefore, belongs es-
essentially to the bar-r0Om and the back
woods stump and is not credtable to the
utterers even there IL is far beneath the
proper altitude of an aspirant 10 the Presi-
dency
The Senator expatiates exultlngly on
the brilliant prospect opened to our farmers
IN the recent enlargement OF their European
markets for Food, especially Breadstutis,
but Is wisely silent as to the prices they are
receiving for those staples We are now
importing European Manufactures most
extensively and exporting our Wheat and
Corn in part payment therefor. With the
British ports wide open, British manufac-
lures fourishing and their markets extend
ing. we are now selling Breadstutfs consid-
erably lower than in the average of
those years when the Corn-Laws were in
rigorous operation and our Grain virtually
excluded from the markets of the Old
World. We are crowding II oil at these
rates by Millions worth, yet we cannot
keep up our end. Our Agricultural sta
ples-Grain, Meat Cotton, Rice, Tobacco,
&c.-do not nearly pay for the Manufac-
lures we import our Gold is rushing out
at the rate of over Fifty Millions of Dollars
per annum to make up the deficiency, but
IN valn--week after week new Government
Stocks, State Stocks, Railroad Bonds. &c,
are exported to fill the all-devourlng vacuum,
which still cries urgently for more Is 1t
not evident to all but aspirants to Cotton
favor that the policy which thus drains and
crlpples US is mistaken and rulnous-that it