American union. [volume] (Morgantown, Va. [W. Va.]) 1855-1859, 1858-01-22
MGANl1NN NOOu00uGGALA co. FRIDAY JANUARY % 1858
The Protective Policy.

We have before us the fist number
of the Journal IF Industry, a. weekly
paper published in Philadelphia. de.
signed, its prospectn says, "to present
in tangible form, the facts and ar
Suments which sust ain the Justice, so und
policy aud absolute necessity of an A.
u,erican Policy" Its motto announces
the t'uthcontended for 10y Henry CLAY
.thai---.isAll n,hsr- -couatries,. bua our own
exclude, by high duties. uors absolute
prohibition. whatever they can respect.
ive:y produce within themselves. The
truth is, and il is in vain to Disguise it,
that we ere a sort of independent col
oniss of ngland--poliicaliy free, com.
mercially slaves" 80. ~'.
The experience of the times Of ne ces.
sity likes the attention Of the people
on the consideration Of measures best
adapted to he commercial aud finan-
cial wants OF the couatry. In seasons
of prosperity. such as we have known
the last few years, men are compare.
lively indifferent to the theory aud prac.
tice ut the government. seeking no as
sislance from the latter, and content 10
be loft alone in the management OF
their aiiairs. But when sudden disas-
ters. such as the crises of 1887 and
1857. overtake society, and people re.
tect upon their causes and consequence
they scan more closely the operation OF
The system OF government, iuguiring
whether the latter affords relief, or
comp'icates, il not originates, the exist
| ing difficulties. =,
! For the last ten years, the country
mas been making great apparent pro-
gress in every department.. Trade has
been active, commerce has incre ased
the value of real estate has advanced,
great public and private works have
been projected and completed, railroads
have been constructed over freshly bro
Ken wildernesses, dwellings and stores
without number, and of palatial mag.
niticence, have started up almost by
magic labor has been abundant, and
speculation rife. The thnughtless and
enthusiastic have bounded forward in
this grand procession Of success, with
no care for the future; and only here
and there prudence has prompted the
inquiry, where is al! this To end Sill
less frequently have men paused long
q enough in their hot pursuit Of fortune,
; to consider the evils of an over. expand.
I sd currency, to estimate carefully the
advantages of the sub'treasury system
, in all its features, or to appreciate the
u,Just operation upon American inter.
ests of British free trade.
The prosperity of the country has
/ been more apparent than real. The
expansion Of credit--not only in bank
paper, but in every departmen of busi-
uess-has crested a fictitious wealth
founded on evidences Of property which
/ had no actual existence. But this il
not the only nor the chief cause of the
general bankruptcy Of the community
8 The energies Of our people have been
directed IN the channel uf speculation
rather than of those pursuits that con.
/ tribute To the developr meni of the actu.
al and permanent resun,cos Of the coun.
try. Instead of engaging in the manu-.
facture of staple articles, we have "was-
ted our substance not only "in riotous
living" bot in building unproductive
and unnecessary railroads, and ia stock
z While the injudicious and reckles
spirit of tho times is responsible for this,
the system Of our government must
share the responsibility. 1t is an oft
repeated truism, that under the fee-
trade or lew-iarif policy, our manufac-
lures cannot compete with those Of En-
rope. AS consequence, the introduce
ton Of cheap foreign commodities has
led TO excessive importations, draining
the country of it's money, and leaving
our own manufacturing establishments
idle. .
We welcome, a, this iuncture, pub
licatioo that shall enter earnestly into
the discussion of the American system.
Let the people have facts ard argu,
menis before them, ard let this great
issue be fairly raised. - Brookiyn Eagle.
.