The Jeffersonian. [volume] (Stroudsburg, Pa.) 1853-1911, 1858-01-14
xceeded our exports one hundred and

; exceeded our exports one hundred aDt
. Eeighty-four millions two thousand sever
0 hundred aud sixty eight dollars; and a
J. conse quence, the drain of the preciou.
E metals was correspondiDgly great. The
amount of specie sent out of the country
during that period, was S213, ,364 ,3s4;-
! specie imported, S26, ,927 ,427: leaving 8
3 balance against US on specie account o.
Sl86, ,4SG. .957. This depicting process
r aggravated by excessive iwportations, un
t settled the currency and induced an in
flated paper circulation, resulting in bank
suspensions and financial embarrassment Mt
But the evil does not end here. An in
! aated paper currency, by eheapeDing the
price of money, increases in this country
the cost OF production, and thus, whilst
the American manufacturer is exposed
under system of low duties, to a ruin.
, Gus competition with the cheap labor of
; Europe, he is paid for his goods in eur
reucy less valuable than that paid to his
foreign competitor. As a necessary re-
suit, the home fabric is driven from the
market, aud the home manufacturer ru-
ined. The operation of these causes,
stimulated by low duties, is sufficient to
destroy the industrial energies of any
people.
With these facts before us. it is no
matter of surprise that our mills, facto-
ries and furnaces have been closed, and
thousand of honest laborers thrown out
Of Unemployment; that com merce bas scarce
ly an existence, that bankruptcy and ru-
in are around us,and our general prosper
Iity paralyzed. TO avoid these disasters,
to which We have been periodically ex-
iposed, reform not only in our systeG OF
banking, but ib our revenue Laws, becomes
indispensa
Ii the principle OF the act Of lS42 hSd
been preservcd-even if its rate Of duties
had been reduced, our specie by millions
would not have gone inso foreign Golfers
to build Up and ,u'tain the foreign man
ufacturer; hone industry would be pros
perons, and the cry "we want work, is
tuing from thousand lips in our large
cite. and manufacturing districts, would
not nov be heard; nor would foreign
4
dollars exist to stsrtle and alarm US
That system that practically prefers for-
etgn to tome abor,-that keeps our work
shops in Europe, instead OF building and
supporting thea bere-that takes our gold
to pay the wages Of the Britih laborer,
whist our o-n are without employment
and without bread that ellis the coun-
! III l.,
clusion of the home fabric, that lays the
British rail upon the road through our
roo districts and BY our rolling mills
whilst they are silent and deserted, and
that invites to speculation ard extrasa-
gance, is at war with every true Aneri.
can interest and should be at once aban-
doned.
A period of low duties has always been
marked by excessive iHPortations,-largs
exports of specie-osertrading-bank
expansions, and suspensions, and fDsn-
cial and commercial revursions. Under
the protective policy these peculiar and
startling characteristics of tree trade base
all been wanting. The history of the
country establishes these facts A we'll
regulated tariff, adjusted to protect the
productive industry of the country, is no,
only the true policy Of the government,
but is better regulator Of the currency.
aud more certain security against bank
expansions, than any system of pains snd
penalties ye. devised for the control OF
baDking Institutions, or the operations oil
capital. TO this we should return. Penn
sylvaDia is yet true to her ancient and
long cherished convictions of its proprie-
ty and necessity. She may have been
misled. Political and partizan pressure
may have forced from her true position.
This was her misfortune, not her fault
She sees and feels the wrong, and With
an emphasis, intensified by her injuries,
will de,sano redress; protection for her
self and the great industrial interests oi
her people.
The agricultural interests of the coun
try, should ever be fostered and sustained
by the State. They are first in necessi.
ty and usefulness, and constitute the ba.
sis of State and National prosperity Up
on their progress and development, de.
pend the success of our mechanical, man.
ufacturing and commercial interests.
Agriculture, in its varied and multi
piled relations, is the uRfailing source of
National wealth, and to its promotion all
should contribute. Individual enterprise
and liberality, State anu County associa
tioDs, have done much to advance this
important branch of productive industry;
have collected and circulated much valu-
able information; and encouraged BY their
honorable exertions, the progress Of sci
eutifc and practical agriculture. Science
aud art have nobly proffered their aid
the State should not withhold her eucou.
ragement and support.
| have heretofore recommended the es-
OF an Agricultural Bureau, in
connection with some one of the State De-
partments, to give efficiency to the col
lection and diffusion of useful know ledge
on this subject. Impressed with the ne
cessity and usefulness Of such Bureau,
| again earnestly recommend it to your
ia orable consideration,