, 1866-01-08

SupP4s " kV*C. Aa4euL1 AHu len per cent-
levied. In order to favor, Or, as It Is said, t
protect one branch OF industry, the Addition
al five per cent Is levied for a distinct obfec
aside from that Of the support Of cover
ment- It Is only this latter part of the dut
which Te propose to consider; that is, .
mueh o. nc duty as is levied for the purpos
OF fasoring one particular product.
2. Now, II such duty have nny edec
upon the proauctiveness OF nation, 1t mus
be In one Of these ways. It must either ffrs
increase the capital Of country; OF, second
1y, Increase itsnrmber Of labore1s or, third
create a greater stimulus to labor. thin
| It evident, from what has already beer
shown, TINT every condition which affect
production, must exert Its Influence In one c
these three methods.
DOES PROTECTION ECREAEE THE CAPITA
..... OF A COUNTRY!
3. think it evident, that legislation q
this sort cannot increase the capital Of
county, The capital Of country, ut IN
moment, isiss present amount of annual an
hxed capital; Now, law cannot create cap
necessity for any Other labor than that q
legislation and, In order to grow rich, na
ton would have nothing to do -bnt meet il
public assembly. and speudflts whole time I,
making and hearing speeches, and enacttn,
lnws, I believe, however, that this mode Q
E3oEms es1nG..e neh; has never been found Femarka
# 1t be said that, In this manner, we shal
attract foreign capital 10 our own country,
answer: this depends not upon Liquidation
but upon the rate OF interest, and the securi
" Of property. If these conditions be NOR.
favorable here than in another country, capI
tai VIII flow hlthcr. If they be 1nore G7oIa
bic IN another country than here, It will dow
th1thes. The system Of Great Britain ha.
been eKclnsive, but capital does not 20 Eron
thia country to be invested there.
DOES PROTECTION 11cREAHE Tnx LABOR OF
4 COUNTRY.
.. Legiklation Of this Kind cannot increase
t1e actual nu1nber nf laborers- The numbe,
of nborers Is a. the humber Of inhsbitauta
Legislation has never been supposed to havr
any power TO create men. It Is trne, popuiss % ase
t!on IL found always to increase with the IN.
crease of the means Of living; that is, With
| the increase Of the prodnctiTeneas Of labor,
Population Will Increase or diminish, Just in
proportion as Abores Is able to procure
greater or less wages for a days labor that
| Is, as everything Is cheaper or dearer.
Whether the tendency Of duties Is to render
1 productions cheap, remains TO be considered
| must, however, be evident to all, that laws
! 90 not create human beings; Of course, they
| ada nothing to tie number Of labo1ers, that
Is, Of human beings In country.
| It may be said, NC may thus induce laborers
t. cone from other countries. To
this It may be answered; this viii
depend upon the wages OF labor. Iflaborers
be better paid herr than elsewhere, thcy will
come here, and not otherwise. Besides, what
Is called Protection changes only the mode of
labor that Is, It takes men from one moiia
q labor, to employ them upon another,
Suppose, then, thai Il AttrsctR fnre3rn iahor-
era to one branch Of fnoastr1 It dcters tfoka
in another branch Of industry from immixra-
ting. u, for instance, manufacturers are pro
tected, this will tend 10 encourage mAnufac-
turcrs to immig1ate; but 1t VII, In cores
pondent proportion, discourage asricultu-
DOES PROTECTION 1scaEAsE TIE PRODUCT
TESKss OF 1AnoR IN 4 COUNTRY,
S. Il, then, discriminating duties pnoduca
any effect npon production, II must be bT
sinsaiatt*g industry; that is, while TIE
amoaE @ Of eapitn and the nurnber Of laborers
more industr1ons]y, and thus TO create great
er amount Of production than they would
under other circumstances This, believe,
Is supposed to bo the way in which The sYs
ten produces Its eject. This Is the point or
view In which We ahall now proceed tn rnn.
slider 1t. 1>"0 ~ e"n-
The manner in which this is done il the FIJI,
lowing: suppose country TO be under
ice system, snd that every one Is derotfnr
Iunsen 70 ae1cuitnre, commerce, or manu-.
est under these circumstances, there viii He
labor and ofcapital Noojien clotI1 can he ~, "
cured, by exchange, for five dollars rari
put It cannot, IN the present stats Of the
sonntI1, oe manufacturrd for less than ten
IN everything else, 80 productive that the1
conla not be aostracted from other employ.
meuts at tue same rnte Of profits. unless fi1r !
man1tacturcr could receive ten dollars ysrd |
TOT hts cloth Now suppose that In order to
eaa6lo @ q him to DO this, duty Of five dollars
fYHf INV u4n1
the price Of all cloth Il raised to ten dollars a
yard, that 1t may be in the favor Of the uanu-
lecturer to employ his capital aud labor IN
this manner. There Is no doubt that tins the
Of cloth might be established.
Aow I think 1t evident, upon inspection,
operation, tncreased- The reason wbv cloth
Was not manufactured before, was that the
of labor and capital. In thia
mode OF investment, was lower than the ave
age producttveness Of labor aud capital in
ne Other modes OF Investment Ali that has
9een euectea Is, to raise the productiTeues.
lere to the general average e,setchere,
There has been nothing done to render It
ny greater. either in this or In any other en-
'ioynen Tor l presume that no one will
ontend, TINT one Kind Of industry should be
cally moro highly paid than another nor
hat, Il It were desired, It conld be effected
Flthout the aid Of direct monopoly,
But the manufacturer now rcts ten do1la,z
Or that which before would bring only i've,
.et Us inquire whence this additional five dol
II T. comes,
Is es1dGnt that government possesses
ot1inE. al tnat It possesses Is precisely SO
19cn taken rom the annual revenue Of ildi-
lonais. ~ this case, therefore, It really be-
COVE notnlng, b1t only causcs transfer Of
nnaa1 revenues, inom one party TO another.
" = eAse =, taeTt!oter the same As 1t would |
: u, Hnuc tnefe naa been no duty Imposed,
wy inaa hao neen allowed to buy cloth for 1
ss e. oonaIs 5hta, ont mad been obliged. for ,
; ssy yala l9aI ne bought to pay fFe dollars {
inn M. ~ hoth sI Il would be the same
.mer IN wonld then, as nox, pay len dollars .
Il Il ies es e'etn a ana nc manutaeturer might
:stn,t1 ~ ' nT Ths az ne 5eGelsed I'VE more ~
s1"1 NY LUG I'VE oolAfa thAt have been c
=. .aea 20 tne revenue OF the one, are precisely
= ,..a aollars 1dAen from the revenue OF the ! i
VT. VI r. s
So" ln1e oe me lac, ,inasInuch Us what Is :
|aSo ~. 20 NE pfoqnc1Feness OF the Industry | 3
tne one class, ts taken from the product | +
eness o. me industry Of the other class, It / i
oala scsm that what the one has gained
other na6 LOST; and hence, that there can =
70 70 increased stimulus to industry on The Y
tae' mnee: ny ~ much rs the one u stimu- :,
!ea, s, INC otaef Is depressed. What you have L
81 81 ~ .9e one class has only raised his 4
~ ~ lApor % ne point OF productivencss a
uien tnat q al the other classes existed st
en ELECTED, has, to the whole amount Of It's =
ectt reduced the productiveness Of ali the - -
7 1er classes lower than It was before. By
e@Ay 0ocAy ApUu kN6 WHOLE, decreased. =