The daily union. [volume] (Washington [D.C.]) 1845-1857, 1855-01-10

rseAsng the amount Of gold and silver in the country
Gold and silver very valuable couuoeitirx bat 1hey
not wealth ar szcslo lei other things be managed
rightly ssd there win he want among a gold and
silver Cor AL necessary and useful purposes Noahing
prevent gold and silver flowing OF countries in which
wslh and trade declining Nothing paper money
Prescni gold And silver from flowing into and being
retained In countries ia which wealth and trade adj
vEnGng
The supply q gold and silver depends the elective
demand protective tariff viii permanently in
this demand During the rs year q lie operation
May indSrd By diminishing imports diminish the tx-
port Of gold pay for imports Bur with the year
s esecss in this way serninais Thr chief check GpoH
bank issues Is the demand fr specie for sxIorAton The
hanks hnars this demand diminished BY the first ope-
rAons q the protective tariff Immediately begin 10 aug
their circulation By this Eeatfnlnsss Of money
prices raised high that foFeignsrsean notwithstanding
the additional duties bring in their goods and sell them
just nuch profit before Then the demand for
specie begins be e then the hanks arr compelled 10
contract Thea condition Of things is brought
about which enables them 10 expand and Tins they GO
from month 10 month and from year 10 year
The of gold and silver in international trade is that
ofpayng iahness They are staples Of export ex-
eeps IN countries the lniRes az which yield than
enough for TIE domestic demand And if any nation
could frame is tariff thereby increase stock ~
the previous metals hsond lis ust proportion that
ZION would not thereby increase the aggregate Vi it's
wealth.
We want freely admit more gold and silver ia this
country than haye but tbs frus way 70 Increase
the amount i not BY protective tariff but BY creating
effective demand for the precious metals and the only
way Of increasing this effective demand is BY dscourang
The Of bsak notes especially those Of small dsnominA-
lions just absurd would il be atiemps 70 I'll with
OH vessel flied with without FIRST displAeng
the attempt 81 the channels Of circulation
With gold and silver without first displaeng bank paper
Particularly absurd would il be frame American
tariff with view Of increasing the import Of gold and sill
YER when own mines produce a surplus and would
continue to produce surplus If should resolve
dispense entirely with bank notes
The nj rorea mode Of assessing import duties the
iaires provided the invoices are honestly rendered Ii
has been objected that under this system Just in proper
ton the prices Of imported articles rise abroad just
that proportion duties increased home and that
as In proportion prices lowered duties dimn-
ished
Bat this properly viewed and regarding tariff a.
tax sa recommendation Of ~ raore High prices
with owing chiefly 10 hank mutations low prices to
hank revulsions just in proportion the banks make
money plenty Is ability paw import duties increased
Jasi in proportion the banks make il our
ability rs import duties diminished Thus "a ueTem
rates adjust themselves nicely may be uctuating
bank medium
In framing tariff pas regard 70 The condi-
lion OF the nations with which have chief trade
The French have little sell that we wish 10 bny except
wines, brAndics silks sarins aDa other inery The i'm
ports from France being chiefly Injuries ought such
bear high duties INIT five make the duties too high
shall interfere nriously with the trade between The
Two countries II We viii buy from the French what
they have 10 sell they viii iny from us They hare
considerable stock Of the precious metals bur they
than sucss for their demands for circulating
medium for manufacturing purposes and for boarding
They wiz be willing indeed able to par more than
occasional balances in specie Our chief imports of The
precious metals have been heretofore from Great Britain
and the British dornions very seldom has much OF any
account from France
Regard must be had 10 the legislation Of the nations
with which We have commercial intercourse About two
thirds cf Cur trade in ordinary sesr is with Great Britain
and the British dolnions The British have lately revised
their tariff and leading principle with them in making
that revision has been that Of ezempting materials
from import duties Our artisans viii labor under great
disadvantages In their competition with those Of rea,
Britain If under sach circumstances they are compelled
pay heavy duties sach materials they can OBJ
tain nowhere else than from abroad
In framing tariff regard should be had to the pecu-
liar condition Of many Of eitizsnsnatye and
adopted The immigrants from Europe bring with them
AL the arts Of Europe In the particular branches OF in
dnsry which they have accustomed they excel but
they excel in nothing else Perhaps they hardly make
living anything else They o1ght be prevented
from engaging in those branches of industry which would
be profitable both themselves aud the
NIFTY among hon they have become patura1ed by hagh
the materials which indispensable
in their respective caings.
In framing tariff for country extensive as the
United States regard mnst be bad the peculiar condition
Of the Inhabitants Of parts of that country. The
people the Rio Grsnie live only By trade and
many the restrictions trade imposed by the Mexican
government the hand and the American govern
the other thai Of them hardly live at all
II sn the articles which made free by the reciprocity
eaty should also be ade free when imported overland
from the Mexican doinon The Of the United States
government would THEREBY be hardly diminished, and
peace and harmony he IN established in region
where there little but aiscord and STRIFE This sub
t onghs Immediately engage the aisnon of Congress
An oughf 10 he passed forthwith give the people
The southern frontier the like advantages with those
enjoyed by The p@eTae She northern frontier.
q Our commercial marine is the second in the world
Its interests shoua not he overlooked ia framing tariff
The paid the articles that used in building
and repairing ship said mush from
s. 50 Sl0a ton This Is harden enough Our exports
VERY bulky. ON their return voyages ships require
ballast II the duties the articles proper for ballast
very high the whole 81 the voyage increased accord
ingy To himself from loss the shipowner il Obliged
10 charge additional freight and the greater part Of this
ultimately Of the pocket u the domestic produces