Nashville patriot. [volume] (Nashville, Tenn.) 1858-1860, 1858-10-05
markets for any remunerative return for their

markets for any remunerative return for their
industry and capital.
But what especially will be the condition |
and prospects OF the new States of the West |
nnd Northwest, springing up on the Upper /
| - ssisslppi and Missouri in which wheat is the |
I . roat and in some the only staple production |
| the policy foreshadowed, or the one even
now existing should be adopted or perpetual
| cd? Producers of wheat and consumers of
the -four made from it, will they he all the
| days of their lives-not a mouth to help them
to consume, except the merchant and Indian
trader who supply them with such foreign
merchandise as the modicum of price they get
for their wheat and Indian annuities pay for
Before the tariff of 1924 the highest price
wheat commandedin Illinois was thirty-seven
and a half cents per bushel. When wheat
commands one dollar per bushel in New York
the farmer in the far West, at this day, may
expect TO get twenty-five cents per hushel for
I|his surplus and that will be the maximum in
an average of years. What condition could
he more forlorn and hopeless! The poor
man who has laid mp all his small earnings to
CRAFTY his pride in becoming landowner.
and now finds himself in the possession of one
hundred and sixty acres, will in a short time
find II TO his interest to sell his land: and if
he cannot find purchaser at any price, to
run away from it, and 90 where he can do
better for his family in some other locality or
employment. The only exception to this in
evtable condition of the far West will be
found on the great lines of travel and emil
grafton to California and FraZers river in
pursuit of gold: for it will soor come to pass
that no gold can be got in this part of the
continent The emigration to those points
will greatly increase and the emigrants will
consume a portion of the products of the
farmer Immediately on the routes they pur-
sue.
= A. Of tbiS
To encourage and protect by all constitutional
and inst means its internal trade and in
dustrv: to promote the d vision of labor and
the diversity of industrial pursuits;to provide
congenial and profitable employment, as far
as practicable, for the whole population. Let
all the arts of production and civilization be
cherished by a discriminating patronage
Let the fame and smoke of the smelling
furnace be seen rising from every hill and
mountain side and from every valley where
nature has stored her mineral wealth Let
beautiful villages spring up along the line OF
orr railways. great and small, and dot over
all the interior; and in or around all Of them
let the stately factory appear, with its busy
hum of looms and spindles; and hard by the
great workshops be found in which that sort
of machines are made that produce the wealth
of England. Let the draught stacks of the
foundry diversity the scene. and the stock OF
the big fOrge-hammer. reducing the crude
| metal 10 the utSiTtu lblHlH. bC hOi iN'
the decent schOOl-house be forgotten; and
first. and above all. let the tall church-spre
| ascend pointing to Heaven. In a word, let
domestic industry and the manufacturing
arts be encouraged and sustained. so that
agriculture NAV find its surest market at home,
and be relieved of the foreign dependence
and fluctuations to which ii is now subjected.
Tins the producers and the consumers OF
agricultural products will he brought to-
gether The producers of the raw material
and the manufacturer who fashions it into
thousand forms, for use or ornament, will he
placed side by side. So jefferson, with all
his original preiudices, at last advised
Washington and Hamilton and the Adamses
i. ! also favored this policy; so did Madison and
Monroe: and so did Lownds and Calhoun in
1916 both of them advocating and voting
for the tariff Of that year. which was strongly
protective in all of its features. Even Gen.
Jackson. with all his wild notions about
credit and commerce, was still too practical a
statesman not To see and acknowledge that
all such manufactures as are necessary to
make nation independent of foreign supplies
in time of war ought to he encouraged. In
, fact. all those who in their days have render
ed their names ilustrious in the annals of
this country by their civil or military services
have at some period of their lives, favored
this policv The illustrious names of Clay
, and Webster will occur to every one, with
this great American policy.
, But sir | cannot pursue this subject
f cannot do more than break the she'll of it
: according to my conception OF its magnitude.
, | will only consume few moments more in
{ adverting to some of the more prominent OBJ
, iections urged against the protective policy
, bv the advocates of free-trade. and such as
! have been addressed rather 70 the ignorance
, and prejudice Of the people than to their en-
lightened and impartial Judgment. 1t is said
. that II is n system of robbery and plumber;
l taking money out of the pockets Of one class
: of the people and putting it into those of an
D nther GLASS. depressing the laboring poor for
the benefit of the rich capitalist; in other
r words making the rich richer and the poor
f poorer | will answer the robbery and OPP
preston of the poor argument, when | shall
= have ascertaned how the fact is as to the
more plausible charge that the capitalist alone
| is benefited by this policy. | should like to
: hear what the average profits have been on
2 capital heretofore invested in manufacturing
: enterprises from such gentlemen as the hon
t orable Senator from Rhode Island on the
other side of the chamber. (Mr. ALLEN.l who
. has been long and extensively engaged in the
. business, and who is the political friend and
+ associate of the leading champions of free
Q trade in the Senate, and from his colleague
q who sits on this side of the chamber. (Mr
4 SfMMoNs,) who has also been extensively en-
gagged in manufacturing. What have been
\ the average profits of the capital invested in
o manufacturing. even in its most prosperous
= periods in cOttOns and woollens, and what
: ever other manufacturing interests they have
{ | a knowledge of? Have they ever exceeded,
in any term of years. say five or ten, aver
: age of six per cent? If the policy of the
n Government had been stable and reliable for
n any longer period. it is quite likely that from
$ ten to twelve per cent. might have been real
: ized-not too great profit on such invest
+ mrnts, considering all the risks connected
r with them.
5 / should like to hear from the honorable
: Senator from Virginia (Mr. HUNrER) whether
: his Investigations have not satisfied him that
r the average profits of manufacturing in this
= country have never exceeded. for any number
: of successive years reasonable rate of com
! pensatOn. or such as does not exceed the or
t binary rate of profit derived from investments
A in trade or enterprises of any other descrip-
Y ton Sometimes, owing to particular cir
r cumstances and contingencies, they NAV have
e risen to twelve per cent, and in extraordinary
b cases even fifteen or twenty per cent. When
. a broken-down establishment is bought under
a the hammer. the purchaser getting the prop
e erty for. say 10000, which cost 500 600.
q may well estimate his profits at thirty per
| cent, though, if he had bought at cost, he
: might not have realized more than six per
cent: but. upon an average, suppose that
! the profits of manufacturing in this country
9 have never exceeded the ordinary rate of
( profit in trade.
r Mr.. CoIIAMER. If you deduct their losses
= they have not made anything.
5 Mr. BELL Instead of being robbers and
IL fba har in