The southern press. [volume] (Washington [D.C.]) 1850-1852, 1852-05-14

self for the adoption Of commercial syaiea,
most favorable 70 advance 10 opslsnaA. pepul..
ton and power. and most in harmony with the
principles OF freedom which we had fought for
in the revolution, and consolidated in the ma.
tional Constitution.
But unfortunately for W., and for poste ritv.
the financial affairs OF our new eoverpr,a,,..
were entrusted to eminent Federnlisf f(,an
Alexander HamiltoD) an ardent admirer nf ~ 81
lish institutions, who did not believe th,t =
would be advantageous to have the bulk Of an.
labor and capital invested in agriculture. on m.
most productive soil in the world, Welding Tho
richest staples bat preferred rather to force M,
establishment Of manufactures, by imposing dy.
ties and prohibitions o. goods imported from
foreign countries.
This great error he enforced in his celebrated
report OF 1881; and though no new argument
has been subsequently advanced in support Of
his systen but, Oh t'se contrary, every days ex.
penence demonstrates its fallacy, it was adopted
at the time by u powerful party, and hus haar
ever since, TO greater or less extent, adhered 10
The advantages on the side of apr;cnltur.I
industry are in this country, 40 obyious tho, =,
attempt, focibly, to draw capital from its mann
facturerr, is to adopt that precise line Of con
duct best calculated to check the proyresx ~
wealth and population
Let US suppose, in illustration of the cfT.ct
of prohibitions, that we have been accustomed
annually to Import u million Of dnjlars vo.th
Of woolens from Great Britain or France: and
let it be farth.r supposed that, in order 10 an
courage the Manufacture Of q similar articIa ~
home, we prohibit its importation. Nov IL
this case--and what is true in this case il tr..
as to all restrictions whatever-it il plain Thar
to whatever extent the homo demand for IN.
produce Of our industry may be increased bv
the prohibition, the foreign demand for that pro.
duce will be equally diminished
Commerce is merely change of equivalent.
and those who refuse to import, really by SO do,
ing refuse TO export. If we cease to buv a
millions worth OF manufactures from foreiSn.
ers, we must NJ the same time, cease selling to
them millions worth OF some other species Of
produce; that is, we must cease sendiny ~ ~.
foreigner, the articles We had previously hssr
accustomed to export, to pay for the srticles Oh.
tanned from him, that are In future. throuoh ~.
agency of the prohibition, to be produced ~
home. This is destructive, in the long run. to
all commerce. And all that VIC gain /. tba
transference OF capital from one branch Of il.
dustry to another. That equality Of protection
to which all the citizens Of the United States
are entitled, has been encroachtn upon. and
manufactures have been stimulated. ia one sec.
!ion, at the expense Of agricultural Investment
in all the others.
No real addition has been made to the capita,
and industry OF the country, which agriculture
and free trade would not have effected and 4.
the undue encouragement to one branch. tho
cotton, corn. rice and tobacco interests have ans.
fered, as well as that numerous portion of our
population engaged in manual labor. 1t il 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 mann.
facturers, the prohibition would not have been
resorted to, as the article would not have been
imported.
1t is this unnatural. anti-American and anti.
quated system taat Mr.. Fillmore and his Free.
soil Secretary of the Treasury, would put in
force, if they had the power, or could command
majority in Congress.