Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974, 1882-07-28

tect home manufactures from foreign COM
petition. In order to fully understand the
question, it will be necessary TO inquire, first,
how manufactures may be established with
out legislative interference, and, secondly,
what effect is produced by such interior
ence. First, suppose we take the case of
new settlement On their arrival, the i'm
migrants find little more than the natural
resources OF the earth, undeveloped, but only
awaiting the process of cultivation to reward
their labors. At first the remuneration con-
sists of what political economists call circu-
lating capital, the products of the soil and
other perishabe property. Gradually, how
ever, the community are enabled TO produce
more and more. The breast of the earth is
probed and her heart of minerals discovered
and extracted. Circulating capital is changed
10 fixed; such as tools and machinery. Each
| year sees some improvement, some step in
advance, until, at last, the quiet streams are
dashed into foam by the great mill wheels,
and the black, smoky breath from the hot
throat of the factory clouds the virgin sky
To what is this due? Evidently to the &C.
cum,tlati0n Of aoeatM. Hence it is apparent
that whatever enhances this accumulation
will hasten, while whatever hinders it will
DEFER the time at which manufactures may
be profitably carried on.
This brings us TO the consideration of our
second question: What is the effect of legis-
lation? The amusement of wealth depends,
of course, upon the productiveness of CAPT.
tai and labor. In every community there is
a general average profit resulting from the
combination of these two factors. This is
maintained by competition. For example,
if the profits of agriculture are higher than
those OF any other pursuit, more money will
be invested in land The flow of capital
into this employment will continue until its
gains are reduced by competition to the
common level.
Now to favor by law one department of
industry more than another, that is, to raise
its profits above the average would be mani
testify, glaringly unjust. Hence, when dis
eliminating duties are imposed on foreign
goods to protect home manufacture, GAIL
that has been effected is, to raise the produc-
tiveness here TO the general average else
aotere. ELLEN Pol. Econ, Wayland, p.
1861 That is to say, the manufacturer does
not gain any more than men in other occu-
pations, while a part of their earnings is
taken from them to sustain him. Surely,
but one glance is needed to show an intelli-
gent mind that the consequence can only
be decrease in the total productiveness of
capital and labor in the community. This
is bad enough, but it is not the sum of the
damage Since the homemade article costs
more than did the import, the demand fori
will be lessened. Immediately the wages
Of laborers are diminished and productive
ness is further decreased. Thus the work
ingman, who can least afford loss, is made
to feel and deeply feel the pernicicious in
fluence Of this system of protection. First,
by the rise in prices the cost of living is in
creased, and then his wages are reduced !
All it is ills and grievances like this which
grind the poor man, and drive him, mad
dened, from that wretchcd home by whose
fireless hearth sits the gaunt, unwelcome
guest, to raise upon the barricades of the
streets the bloodred flag of lawless VEN
geance.
With these facts before us, we can hardly
fail to conclude that protection, by dimin-
ishing productiveness retards the accumu-
lation Of wealth, and therefore (gide supra
postpones the time when we shall be able,
without loss to manufacture for ourselves.
Such are the convictions of political econo-
mists. After patient, searching examina-
ton Of the subject they have come to the
conclusion that protection is folly its bene-
fits dream, its evils vast
LEE DAVIS LODGE.