Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1851-01-02
Report of the Secretary Of the
Treasury.

mount sufficient st prnctical rate of dties To
supply the wants of the Treasury. such duties
should be adjusted in a manner TO affect hvora-
Nv AlFimlustrial rursui,s at home. If dutrs ON
the necessary importations should have the lffect
10 ippar the ability of the mass of the peote 10
purchase and nav ior foreign goods. then inpor-
tntions TO that extent mus, cease. and bv coise-
quence the revenue 10 an equivalent amuint
would be diminished.
1t is believed that our own experience mas
shown that our exports cannot be greatly oyrn-
dcd, as some have supposed. bv low duties upon
foreign goods in our ports. Ii is a fact. within
the observation of all. that merchants aud .hip-
owners are ever viailant and alert with al the
knowledge which interest can nnpart and al the
skill which experience can supply, 10 send abroad
any and every product OF tins country which can
anywhere find a profitable market hesc ipcn-
cics, which are always active. extend our cS,ort
traffic at all times TO the utmost limit Of aatan-
tage 10 The producer or carrier. If at any bnle
la given article of EXPORT should be carried be-
vond the ioroign dotnnnd. reduced prices. the in
variable result of ovcr-supplv. brings loss uon
all concerned If "A forcirn article is in Ike
manner forced upon our own market bevondthe
required supply. The effect of reduced prices
while il intlicts often ruinons lossns upoi, ibe,n
portorfrom abroad is c.lt ly those cucaro1 in
producing the like article al home, in consequaa-
ces tenlold more ipiurlous as the reduction IF
price IN our own mgrket extends 10 and aiitds
the entire labor of the whole country, which may
be- employed ia such manufacture or productions.
Thus while the injury is temporary and limited
in t' effect upon IT, importer, it IS often lasting
and widely extended upon the labor Of our own
people. We see and feel Il in the sudden break
ing up of establishments not vet sustained by sn
amount Of capital which can afford to encounter
temporary suspension Of sales and reduced pr-
ces or not yet worked with that skill and econo-
my which long experience alone can inpart In
such instances ia6oris SUDDEN, withdrawn from
Ia diversity of purslf. and driven to the produc-
ton in a limited sphere tb-5 araip brlngs an
oycr-suppv of what NAV be nrodnced by the
common euplovmep,s while in Tho end il leaves
the marxpi of ibs article whatever II may be-.
the prolncfio,i of which bqs baen ab,ndoued AZ
home. AT the mercy off Nh. iorai~n SUNNY olone
The result in the end q, the consumer j., it,va-
rahg a rise i'm the mice. off article and there
hei,, r, ro,,,stitio,, ,,.,i, t. c,roigu uroa,..r
ba his po,sos.l9n H.. + tla market and of course.
.nnnin.. nttbe bi,ii,.i nica bicl, The demand
viii o.ve him. ms rrIc. $ and Profits. uncherk-
rd hy connection ln slcb cascs. continue with
the Increasing demand auI diminishing home
supuly.
Tboo9oration and cfi.cfoC those laws Of he
bor nld ir4la il l., believed. have been fr.ouent.
w AID Bllpably exhibited in the history Of Our
country. ltis from such experience that the
r.,.,raI nrir.i-f..s ,r, .i, oftr t.rlr fir,- or.