Bedford inquirer and chronicle. [volume] (Bedford, Pa.) 1854-1857, 1856-06-27

profit. But he must perceive fnat tue low
and depressed state Of the working classes
ID Europe il proof enough that no excessive
profit is obtained here upon goods-none
that can bear essential reduction land that
while raw cotton maintains its price, foreign
goods must also maintain theirs. In the
great competition Of trade this idea OF ex-
cessive profit to the importer is fallacious,
and as the notion Of reduction is founded
on ii, that il. also fallacious.
To follow out the case, have supposed;
The income Of every man, except the ex-
porter, is TO be reduced cae-half IN the
value of wages and property, while all for
eign merchandise will cost the same, which
will obviously, in effect, double the price, as
it will take twice the amount of labor, or
twice the amount of the products Of labor,
70 purchase it.
do net ascribe this power TO the bill,
but it is enough for me that friends do
What response will the farmers, mechanics,
manufacturers and laborers make to such
aagitious propositions Can they be recon-
ciled to such measure of opposition!-one
that extorts from them the fruits of their
industry, to professedly enrich the planter,
who now enjoys prosperity unequalled in
the rest of the country No, sir, such
plans of sectional aggrandizement, and such
disregard of the interests of the greatest
and most powerful class Of people IN the
country, can only excite their disgust and
indignation. Thus, sir, / have traced the
benefits of this bill, if it have any, as inter-
preted by its friends to the rich and pow
erful. / have, if | mistake not, demon
strated that they are to be made richer by
tax upon their less fortunats, but more in
dustrious and more necessitous fellow-citl-
zens-a tax that they never can and never
will submit to, so long as their power can
be felt through tue ballot-box,
Bet sir, this is not all. While We are
thus to have intolersble burdens loaded up
on us, to add to the weight of our embar-
assmeuts, ard to increase our sufferings, and
! while the debtor portion pf the public are
TO be crushed and ground to dust between
the upper and neither milestone Of this pro-
cess, the man of money is not only to es-
cane unharmed, but to have bis property
doubled. He who holds cash, or its equiv
alent in notes, bonds, or stocks, will be
able to buy double the amount of property
with it, and will therefore have its value
doubled on his hands; for, while wages and
property arc to 60 down, maney is TO 60 up
| in the same ratio.
II the friends Of the bill have given it a
true construction, it is bill of privileges
to the rich, bat scourge to all others
What is the debtor portion of the publicl
Is it so insignificant as to be disregardedi
Sir, will venture to assert that the amount
of existing indebtedness, in any CONNER.
cial country, is nearly, if not quite, eqnal
to the value Of all property in that country
whether it be rich or poor, prosperous o'
unprosperous, and you cannot change, t'
the extent gentlemen have supposed, thf
relation of debtor and creditor, OF thus di,
minish the resources OF the debtors without
crash, q waste and desolation such as has
never been experienced. Suppose MAI
has purchased $4,000 worth of property
at present prices, ard given his bond for it
YOU reduce its value ore half, and it is
worth $4,000. How is it pos ilie that
without resources, thus reduced, most debt
ors can ever pay.
i But, sir, you cannot maintain state o
things such as has been supposed. lol
may embarass, and distress US US you hav'
done, but this bill will, in tho end, worl
out no such advantages as are anticipated
for the planters. The theory contains II
itself principal that will defeat the end II
view. Go on, sir if you please, and so leg
islate as to bring to the cotton planters tn
extraordinary profits anticipated, at the ex
pense of the other branches of industry
how long will it be before that pursuit vii
be oyerhauled with competitors, till tn
market will be inundated with cotton, an'
{ its price fall just in the ratio you have stim
ulated its productinnsl Down it will
down it must by the laws of trade, come t
level with the fall Of other productions
And what will be gained by tho whole pro
cossa Nothing; absolutely nothing, excep
! that it mill take more pf our labor an
moro Of our productions to buy foreign mer
{ chandize; our gain will turn literally int
loss. This is capable, ! think, OF dem
onstration, If it does not already sufficient
ly appear; but ] have no time to enlarge
interesting and all important as the sabJec
is.
What motive can we have, sir, to reduc
wages and the value of property Whe1
did the sun ever shine upon labofing peo