The republic. [volume] (Washington [D.C.]) 1849-1853, 1852-04-16
The Working OF British Free Trade.
Continued from Republic Of April 9 j

I COWtHuku from ftePtOtC ~ 1pu -
! Having thus disposed of the statements in rela-
tonto cotton, we now proceed to examine those
in regard to roBAcco, and doubt not to satisfy our
readers that they are equally unworthy of consid-
grafton. Ofthe crops OF IS39-a2, there we're K
ported five hundred and eighteen thousand hogs-
heads, giving an average Of about hundred
and thirty thousand; whereas those Of the four
previous years had averaged only ninety. four
thousand five hundred. The consequence Of this
excess Of export was, not an increase. but a de-
crease Of value; and, with the gradual accumula-
ton of stock in the warehouses Of Ems gland, the
price fell gradually, until il reached, for the crop
of lS4I sixty dollars. Commencing. in 1888, with
hundred and flrenty four dollars under protec-
ton. it reached sirty dolIars under the British free
trade system in 1912. At the date Of the passage
Of the act of 1912 it had falen still loto1; and
now, in the three succeeding years-ls43. 1874,
and l5i5 the yield was great that the export
reached the enormous amount of four hundred
and sxty-two thousand, average Of no less
than hundred and fifty four thousand hog gsheads;
but the reader Of Mr.. Rantoul's speech will look
to it in vain for any notice OF this fact. AS usual,
it is Suppressed Instead thereof, they will find
most ingenious calculation TO how much those
large crops would have yielded, had they been sold
at the prices OF the so much smaller crops OF the
previous years, the difference being charged to the
account of the tariff of 1892 While thus ignoring
the existence of the fact that small crops had given
good prices, and had hus proved the advantage OF
diminishing our dependence on the English mar
ket, the honorable gentleman assured his hearers
that prices and quantities had largely increased
under the tariff Of 1916; and having favored them
with calculation how much the tariff Of lS42 had
| depressed prices, causing loss to the tobacco
planters to the extent Of l6 1856 I97 he next pro-
/ tn eIo tnu of had raioo
prices, and gives the gain to the planter from It's
existence at Sc. CO., ,264. Now, mark how plain
tale shall put him down.
The average export Of IS44-5 and 6 amounted,
we have said, to the enormous quantity OF
| 200 hogsheads. the consequence Of which
was, that the average prices during that period
! Iel TO-. D o. Oh
In lSa7 it fell to 80, 900 hogshcads, yet. not
| withsianding this diminu ION, the price
rose 10 an average Of only .............. 50 66
In lS4S it fell further to 10000 hogshcads,
and the price rose to.................... to. SO 90
| In lSi9 it was only l0l 900 hogsheads, and
yet the price remained at only 5S 90
This unceasing reduction continued through
! apcriod of three years, and was attended
by diminuion OF stocks abroad, the
! consequence Of which was, that in 1850
with certainty that the growing crop
would he very short, the prise rose to-. 6S 90
And in 1851, with an export Of 80. 900 hogs
heads, II a gain rose to................. TO. SO 90
| In 1852 at the moment at which VIC are writing
the price declines daily; and il has already fallen
at the close of period Of five years-in which the
average has been only 100 900 hhds against I 5&,.
900 for the three years which preceded the enact
ment of the tariff Of lS46, Little more than 8S2
with every prospect Of further decline and a
tainty of larger decline, should the coming crop
prove equal to those OF the tariff Of 1912. That our
| readers may understand clearly how uplrard
ment IN quantity. such desired by Mr.. Walker,
was attended by do,rntcard moueusnt in raius, and
| uice reysd, we give them the following table: