The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1866-12-13
The Decline i'm shipbuiIding.

The Decline im shipbuiiding'
We reprint i'm another columns noteworthy
passage from the recent report of Secretary
McCulloch, touching the surprising falling OIL
in American shipping and ship building dur
ING the last six years. Mr.. McChlloch pre-
sents the fact, he says, in illustration of the
following propositions: "No single interest in
The United States, fostered although it may
be by legislation, can long prosper at the ex-
pense of other great interests. Nor can any
important interests be crushed by unwise OF
unequal laws, without other interests being
thereby prejudiced." To one who considers
the intricate network of relations which binds
no proof is needed to show that part or
class in such community cannot suffer alone.
Ii is not as proof, but as an illustration of his
propositions, the that Secretary instances the
decire in ship building and declares that il
commerce is permitted to languish other great
interests must also suffer. .I1
Plain as this principle is, it is too often for
gotten. There i, tendency, natural enough,
since to err is human, but strictly to be guard
ed against, to overlook all but local interests,
and by pushing these into undue prominence,
to leave them with no safe ground of general
prosperity to stand upon. Illinois Congress
men are too apt to be neglecttul of the inter
ests of commerce, forgetting that the wheat
crop needs market just as much as the mar
ket needs the wheat crop. Pennsylvanians
are constantly tending to sacrifice every other
interest to coal and iron; yet railways and
steamers and millions Of agricultural imple-
ments are brought into use to feed our sDr-
eisn trade. The wool growers are petitioning
Congress for additional protection, and wool
en- mills are lying idle because the raw mate
rial is already too high to pay fair profit to
the manufacturers. The only safe rule in this
maze of clashing interests, is to remember
that no department, Of industry can long
prosper at the expense of others. 1t is
not only true that our ship-yards are virtually
ira. sferred to the British Provinces, but our
trade is taking the same direction. Vessels
leave this port for St. John to take in stores,
because our greenbacks are worth more goods
there than here.
Into the causes of this state of things the
Secretary makes no elaborate enquiry. His
own opinion he states very succinctly. The
causes which prevent shipbuilding and ham,
per all other occupations are in his view, re-
dundant currency and high taxes. Whether
the currency is really redundant or not, is
matter OF opinion. Strict demonstration is
;,,oose;l,lo o,d oseortio,, or, tl,a ono eide or
the other avails very little. With specie
basis, the currency would regulate itself. The
super1uous paper, if any, would be presented
for payment; the superfuous golI, if any,
would flow off to foreign countries; prices
would adjust themselves to the common stand
ard Of value; and the currency remaining in
use would be the proportionate amount re-
CURED tor the transaction of our part Of the
worlds business. These principles are admit
ted by all reasoners who NEEDLE with the sub
ject at all. Whether the currency is redun-
dant or moi, it is desirable to resume specie pay
ments as early as possible and put ourselves
once more en- rapport with foreign nations.
u neither the currency is redundant or not
prices in our markets are relatively higher
than abroad. Mr.. McCulloch thinks they would
be diminished by curtaiment of the curTen-
cy, and inasmuch as under different policy
they have held their own remarkably, his rec
ommendation is certainly entitled to care
full consideration. He also believes they may
be diminished by judcious reduction of tax
es and duties, and to this proposition there
can be no valid objection. Our revenue is
ample ard will not suffer materially by
changes which promote the general prosperi-
ty. To sacrifice our shipbuilding and with it
our commerce, is not the way to serve any
branch of industry. A wise craftsmanship
will not overlook any measure which promis-
es to bring prices nearer to the point at which
our products will seeka foreign market and
make us again creditor instead of debtor
nation.