The daily union. [volume] (Washington [D.C.]) 1845-1857, 1851-01-07
100000

TOBIAS, exported 81 100000
#a@ 100000
Here we have an sxcess OF export over import One
hundred thousand dollars worth OF production has been
carried abroad and noAng has been returned for ita
most favorable state Of things. according to Mr. Corsi
But il is useless to enumerate the absurdites which
flow from Mr. Corwins theory, and from the principles
Of those who regard money synonymous with peolh.
The doctrine is that the trade between nations is
s1ehangebarter. We send productions abroad-spe-
Gle being the footing with other commodities.
The more we can exchange barter that export the
better We send our surplus cotton, tobacco, bread
sus, &c., abroad because they worth more in foreign
countries than they in America. With the proceeds
of that expectation import portion Of the surplus
productions of foreign countries which worth in
America than in the countries whence they The
difference in soil and climate, and the differences in
wages and profits, at the bottom Of in
techange of commodities which benefits both parties to
the exshangea phenomenon not 10 be accounted for
the contracted principles Of Mr. Cowns reports for,
cordng to the principles of hst report, all trade must be
injurious to one party the other, although they ex-
change nothing but their surplus productions.
is useless for 70 further into the general prnc
pies this subject. But we will mention again that
money is between nations an article Of traffic like all other
commodities. 1t obeys the laws of supply and demand
like all other commodities Even If there was no other
money but specie, the OF trade might subject it
to the fluctuations in value that other commodities
subjected to in the yeaywe might say the dayin.
,ercourse Of nations. That liability to Auctuaton is
vastly increased by the fact that in commercial
countries not only SPECIE but the fictitious aad vaueless
issues OF corporations circulate as money. But this
matter is not in the scope Of present inquiry.
Mr.. Corwin. haying laid down his general argument,
tells in his report that exports cannot be greatly
tended BY low duties in ports because
chants and shpowners vgilant and alert send
abroad every product of our country which can end
market This il strange mode Of reasoning. we must
be permitted to say Our merchants, willing to
admit ever ready TO send abroad ANY product which
can find profitable market; but still we contend that
low duties in ports tend 10 open markets for the
porting merchant-markets which would never exist
for his vigilance to detect without such duties We
have already demonstrated that trade between nations
system Of barter. But admitting Mr.. Corwins ideas Of
balance OF trade to be adjusted by specie remances,
on either hypothesis low duties win open foreign mar
kets How can tho foreigner exchange with us, unless
we exchange with him How he buy from us,
unless we buy from him, without ruinous balance of
trade and destructive loss OF money! II we expect
foreign nations TO take goods. take theirs
Trade is not and cannot be all on one side. When we
receive the products of foreign countries on liberal
terms, enables them consume larger amounts OF our
productions MIR. Corwn does not up resolution
enough TO deny this principle 10 its general application
but he does question its applicability the peculiar cir
cumstancss of the United States He says that nearly
all the supplies furnish TO foreign nations 'conss of
articles Of necessity. he consumption Of ohieh imsd to
actual oants, and cannot be found beyond that demand by
adpsnhious circumstance" And again he says.
mo nation will purchase from u.s. no matter how pros
porous be her condition, larger Of bread
stufs than the deficiency in her ability supply win
require, though buy from her double treble the
amount OF her produ ctons So In like when her
crops fail she only WILL but su~s take from coun
tics what tho waus of her population require, even
though it be three ,enfold what they take from her"
Mr.. Corwin surely forgets himself Nations not only
not but they take from other countries what
their wants require. unless they pay for ha they
take. An Irish famine but more intense demand
for breadstufs II is still demand the strictly mercan
tile sense OF the word. But Ireland. gnawed by famine
could NOT take from other countries whatever her
wants required-nor could England take, on behalf
Of Ireland, whatever Ireand's wants required, but
by paying for IT, How could England have paid
for III In speciei Certainly not Many did sarve,
and thousands would have starved had not taken
the predictions Of England and Ireland in exchange for
our breadstus and thus enabled Ireland to import
amount OF food which England could not have pur-
chased with specie But will not dwell on this point
further II must be apparent 10 every candid mind that
if close ports TO foreign nations not only De.
stroy revenue. but we deny to foreign nations the
privileges Of trading with
We have now completed our examination Of the gen.
eral features Of this branch Of Mr. Corwins report We
may hereafter pay some attention to its particular state
ments In the meantime we would state that we have
seen, both in the National Inteigeneer and Republic ef
forts to asea our remarks on the estimates OF Mr. Cor
win We shall give attention to those assaults at our
earliest convenience.