The southern press., 1852-05-15

self for the adoption of commercial svstem
most favorable to advance in opulence. popula-
ton and power, and most in harmony with tia
principles Of freedom which we had fought far
in the revolution, and consolidated in the M.
tional Constitution
But, unfortunately for US, and for posterity.
the financial affairs OF our new government
were entrusted to an eminent Federalist. (Gen
Alexander iamlton,) an ardent admirer of Enc.
iish institutions, who did not believe that h
would be advantageous to have the bulk of onr
laoor ana capitai invested in agriculture, on the
most productive sou IN the world, yielding the
rlchss. staples out preferred rather TO force the
es'aoilssnent OF manufactures, by imposing du.
ties and prohibitions on goods imnartad f,aa,
foreign countries. ''o"i
This great error he enforced in his ceabrotoa
report of 1871 and though no new arsu,aoa.
has been subsequently advanced in supnort ~
his system, but, on the contrary, every dav,s ~
perence demonstrates its fallacy, it was adon,aa
at the time by a powerful party, and has haan
ever since, TO greater or less extent, adhered ~
The advantages on the side of agricpltnrai
industry are, in this country. so obvious. tina, ~
attempt, focibly, to draw capital from its man"
facturers is to adopt that precise line of con
duet best calculated to check the progress ~
wealth and population.
Let us suppose, in Illustration Of the effaot
OF prohibitions, that we have been accustomed
annually to import a million of dollars worth
Of wooens from Great Britain or France. and
lot it be farther supposed that, in order to an
courage the manufacture of similar article -
nome we prohibit its importation. Now in
this caSe-and what is true in this case is true
aslo aH sres'rlctlons whatever-t is plain that,
to Whatever extent the home demand for The
produce of our industry may be increased nv
the prohibition, the foreign demand for that nro.
duce will be equally diminished.
Commerce is merely change of equivalents
and those who refuse to import, really by so do.
ing refuse to export. If we cease to buv
millions worth of manufactures from foreign-
ers, we must, at the same time, cease selling To
them millions worth of some other species of
produce; that Is, we must cease sending to the
foreigner the articles we had previously bean
accustomed to export, to pay for the articles OBJ.
tanned from him, that are in future, through the
agency OF the prohibition, to be produced at
home. This is destructive, in the long run to
all commerce. And all that we gain Is the
transferenee of capital from one branch of in
dustry TO another. That equality of protection
to which all the citizens of the United States
are entitled, has been encroachdd upon; and
manufactures have been stimulated, in one acc.
ton, at the expense Of agricultural investment
in all the others
No real addition has been made to the capital
and industry of the country, which agriculture
and free trade would not have effected and in
the undue encouragement to one branch the
cotton, corn, rice and tobacco interests have suf.
fered, as well as that numerous portion of our
population engaged in manual labor. It is clear
that all these have been taxed for the benefit Of
one particular interest; for if our manufacturers
could have produced as cheap as foreign manu-.
facturers, the prohibition would)not have been
resorted to, as the article would not have been
imported.
IL Is tins unnatural, anti-American and anti
quated system that Mr.. Fillmore and his Free.
soil Secretary Of the Treasury, would put in
force, If they had the power, or could command
a majority in Congress-.