New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1866-01-22
FREE TRADE.
Letter from Peter Cooper

Letter from Peter Cooper
70 The Editors Of my country and sors especially 70 ne
Editors Of The EceHtng Post and Commercial Adr1-
nsey Of this eity'
1t is with more than ordinary regret that am
ompelled to differ in opinion with friends whom
aspect. in relation to their hvorite theory Of an
unqualified free trade with foreign countries. Il
agree with all who contend for an unqualified do
nestle free trade in every article that is the product
of American soil or Of American labor.
For all of these would secure every facility OF
convenient and rapid exchange throughout the
length and breadth ofour country.
agree with my friends that free trade is beauti-
fuI in theory, and would be in practice between
men and nations where all things are equal and
where al would actually weigh and measure all the
products of labor by one uniform standard OF
measure or value. Such measure Of value should
be as unyieding in its nature as gold and silver.
1t should be q measure that has an inherent value
in itself, the result of labor actually expended IN
producing it equal in amount to the labor that has
been expended on the article for which gold and
silver or its equivalent is to be given IN exchange
When the Government has secured for our country
such measure of value, and has paid the National
debt and when il has caused gold and silver
u
dollar that is allowed to circulate as money; when
that time has arrived we may with less danger VEN
tire to introduce system OF free trade win toreig
nations Every attempt that has been made toward
system of free trade with foreign hatiohS, III con
nectiop with our use of an ever-expandng and con-
tracing system of incorporated bank paper money,
must as it has done, prove deluslon ana SNARE
II must In the future as IL has done III the past,
bring its train panic pressure b Snf the change of
value in all kinds of property caused by the many
alterations of tariffs that have been made. Such q
ruin must inevitably follow policy that would
leave our own people unemployed while we are bny-
ing foreign luxures 10 be paid for by exporting the
raw materials of our own country, and then BRING
ing upon our country all the waste OF time, interest
and labor that must be lost between the producer
and the consumer. Such trade will 90 Tor us
what Mr.. Webster said paper money would 40 Tor
\ nation: at will fertilize the rich man heio ny
the sweat of the poor mans brow
Those who desire protection for American labor
ask the Government TO adopt the policy urgently
recommended by Gen. Jackson as the only true
policy that can secure for the agricultural interests
az the country steady and reliable home-market
and thus save the farming interests of the country
from an entire dependence on the uncertain and
f3uctuating markets of foreign nations, who VIII
only buy of us when their crops IAN ana ieaVe US
with our crops to rot in our barns when tney eau
do without them. . .....
that led TO the American Revolution was the de-
Termination on the part OF Great BRIAN 10 loice
manufactured articles its colonies TO DO pald ior
by sendipg raw materials to England, ana IN tnis
Iay TO keep them entirely dependent and poor, by
rreventinp the colonies from manufacturing for
themselves This is still the policy OF the BRITISH
(3oyernment, by which il has drawn TO It's little
island the wealth of every country that mas allowed
itself to become the subject OF its poncy ana power
1t 10 trying still to persuade the people OF tins conn
try to run their plows in competition with mighty
machines in England, where a single engine Is
doing the work OF thousand men.
To see the folly Of yielding to British policy We
have only TO look at the effects produced On our
country during the war with Gree Britain.
At that time, when our fopsign Trade was cut OIL,
labor was in demand and money abundant; furnaces
and mills were built, and all actively employed;
wages were high and our National debt small.
-Four years later came the British free-trade sys'
tenn. -
Al once all was changed-mills and furnaces
were stopped, labor went begging, and our poor
houses were filed. The price Of land declined,
money became scarce, and interest high. The rich
who held mortgages became rcher, ana the poor
and those who were in debt were ruiz ed
In view of all this widespread and general COM
p,aint. Gen. jackson expressed his deep concern
tor the welfare Of the nation when ne asked,
"Where. where has the American farmer maiket
for his surplus productP
He was compelled to answer by saying, THAT,
except for cotton, the American farmer has neither
a foreign nor a home market"
Gen. Jackson, like q wise statesman, ADVISED his
eountrymen "to draw from agriculture the super
abundant labor and employ 1t in mechanism and
manufactures"
He then said, eve have been too long subjectto
tho policy of British merchants; 1t is time We be.
eame little more Americanized, and instead of
feeding the pauper labor of Europe we should feed
our own and give them employment"
AT this time complaints continued TO increase
until things grew so bad that in 1923 our Govern
mept found Il necessary TO adopt what call q true
American system Of free trade. Ii was system of
fyee trade that extended TO all parts Of our own
country on all articles that are the product Of our
own soil or labor.
To encourage this system duties were levied on
smports that soon gave new life and energy TO the
trade and business of the country.
The public debt was soon paid oil, and prosperity
became universal. ,o.o
nv degrees. between 1894 and 1872, the tarit was
rsnesled: the mills were again stopped; furnaces
cipsed lands fallen to half price; the sheriff al
work; States repudating their dehis; the treasury
,nnable 10 borrow at home or abroad, ana oanAIuP'
laws passed by Congress. ..;os and
In iS the national system was AGAIN tned, anu
an Lass than five years the production Oh iroh aiono
rose from 2OO, 900 tuns 10 100000 tuns.
Prcsperity was universal; mines were opened
mills were bsilt and money plenty, and the puphc
"a urivate revenues greater than ever.
(Incs more, in 1876, the British free-rad Poncy
- Sisalaa b uysslias eng ts1a sa& aesv'Htl