North Carolina Newspapers

.lOSIOI'll \v. UAMPTOX, ."The powers granted undt-r the Constitution, being derived from the People of the United States, may be resumed by them, whenever perverted to their injury or opprotfsion.’'—Vac/.oon.. Kclitor VOLUME 2,! CHARLOTTE, N. C , SEPTEMBER 27. 1842. XUMRER 80 T K K 31 S : /; 1 iy 1. ' J. fcrst.yr-iiv. pului'hcd wr^kly. nt / r"y ('■ f , if iri'.'i ;n Jidvanr^; or 'I'/ rtc tao ^ xjiirntion of thkke months 'U. -'Tiiiin:/. A'ly p'.Tion \sho w:'l procure i;. i .;u» f'fur th>‘ir r-;u!!'rri{.‘t*uii.=, y f ilii. p.i: r irrafis ;—or, a ehii) of ten tub- Me . -i-.r une year fur 'I'lcaily Dullars iw ■ : 1 til--subscriber owrs any T . f ; -aii i a failure to notify the Kdi^or . .r.u ; ;af least one month before the^ xpira- • fir, wil; be con.sidered a new enga^'f'nient. \v,;l u''‘t l> ' ;d!o\V( d to di.seontin'u* the ■ - .n i'l f :. . f*r year waii-.-ut pay.n^for -)n. .1 snspii ii'; ,rly nnd rorri ctly rt- ^ r -i^uar: fur the fir^t in.^f-rtion, and 'I'lrcn- f ir I '1 t ontiauruii’C' cxc ]»t Court and o'lier :ts, which will \)0 iirirt>j-fi.vc per ^•b.tve rat' .s. (owiiiL' to lh? delay, irt-ne- 1 A liijcr.'il disrount will be* , -1.1% : ;s‘ f>y tlie Vf-ar. AdvLTtisemcjits sent iii'M -i marked with ('ne nujtiber of inser- i ' "i y will b> published uutii forbid and charg ’’ • I'dii'-r, un!i S~ I'on'ainiii:'money ni sums ' r ov r, nni? cr.tiic free of postasic, or liie t :’i> 'dlire here vs. 11 b“ charged to the writer; - ud cullect-.d as other ae'counts. 1^' n •: Is = I’Ih' l*rott‘ctivc System. s p i: }•: c II o F C. CAf^JlOrX, ^ . I .-f fil-Tarifi" Mill -dt livf red in the .Senate of th( L'nit' d StatCLJ, August 1S42. 1. ! iiM'.N'i 'riiG tariir l)ill of 1823 has, . ■ ; -ir. 1 ' li tali' ! the bill of abonii* ' ‘ b.ul a- that w is. this—all tliingscon- V. . •• U i. , ill thf: lirst place, worse be- r ■ ■ l uerons; tjol tual tiie duties arc on i.i^o lusher—!'^r they are probably less, by j cr ccnt ad valorem on the agg^rejrate : ji - j)i r C-: lit, Thi.?. il is estimated, will average • iiii M It?; an I averaged according to ’ :.''iiii,ite li)nt I have been able to make ]»■;; i.5 more than made aui, among them, tliat ’ J;t yjT th'“ ’^'l'‘'raent of the duties: ah'* paiJ in eai;'^ which will ■ : H .'t less tL'ati i or .•> cent.— ' or: ha.^ b'H'ti iri eai falling olF in pt'-'CS . - aM !■ • n-1 \-l increases, in the samt-. ; ■ r». - 'i ' r v“ v; r ccnl. i.ii the cost of all spe- ‘w j *; .^'\ry 1, I njU'*h less than 50 per ;•' .'Miiij l!i!* number and the im- ^ ih ai!.icU;s on which they nri liiiJ in ■ !: iiiU‘-h in .rc than nnl(e iiplhe the dif- To *.h' ?u nny be added its arbitrary and V- piuvi i 1 >r v ilunig goods, and collect* K , wiih t';i- l i t til l’, il goes into operation, . ir 'i‘f MinvdiaN ly ow its passage, v/hich t. / i.' .'Viiv Oil til'- ■ i:nnieiL:ial interest; and • 1;; tw-ull inij)ose on the less v/eal- i cl 'i cojiiniimty. in consequence of 'it. un arti^'ks of general '■ Ml ■ ,.'»n. er .. , worse, because, if it shoul l . 'iv., it w !iM I) t"oine sj under ciicmn- Mi M :r‘- ubj' ; than did the tarill’of I si;:iH ii;>! dvveli v^n ihe fact that, if it should, .. i i;»;r( !y J'liprrsedi the compromise act, and j l-d^e.-o| 'ii y given here in this chamber, f^'-iiiiguished aiiihor. and the present CJover- I. :>a>‘luietts, then a member of this body— . I w. the S«iuMi wtiulvi adhere to the com- will! 11 w:;s ;'p('ra!ing favorably to the ma- . .I- int‘- ^;'^t. 'hev 'vuuld stand bv it when it O •' . j op^rat' t i'v raldv tu us. I pass, also, with- t iling •; n lii'- la*-: tiut it ])r..|)oses to rt'j)cal I I - \i.i u in the a^-i ul' distribution, which pro- 'ii • !’ .n:t shouKl c^ase to operate if the du- ould be rais‘'d above ’JO percent.—a provision, which U'ither that nor the bankrupt bill .1 h ive bt :'on:o a law, and which u’as inserted ^ i' riicumstant’cs thai[pl dged llie fai'h of the ma- •v ’ ' abide by it. I dvvejl not on these double - h- s of pligiited faith, should this bill become a —n-'l b>-cause 1 regard them as slight objec- >n the contrary, they are of a serious char- 111 likely to c.\: rci>e a very pernicious in(iu V' - r ’jrMlure b gi;lation, by preventingami- Ij 1 hneiil> uf (|Ue; lions that may hereafter, o( the country; but because 1 ; a loni er oo'.'asion. xtnessed my views ful- ’ ■ . = 11 ' ) ill, iM. I pass on to the objection . s 1 ;; .'liq uid pa:s, it would against the ■ • ■ \p. lienee. Wh«n that of iS:2S pass- J .1 t xpei ieni'e as to the e Hoc is of , I' i- that the act of 1 S21 ; 1: V eiaiion a few years which may be !M6l whii'h avowed the policy that ev- bu' it had been in operation too i^hort a I much (iglit on the subject. Since then, has been greatly enlarged. We ' ' ;jds of considerable tiuration both of r-. luctii-n of duties and their eliects re- the m iu.-try and prosperity of thecoun- nables US tv) compare, from authentic .a iiu’h I -”.nr; li’b, the r* suit. It is most triumph al !;*v r - [ ledu'-’ti'■!■!. tbough made under cir* - !;. .. adverci! to it, and most favorable to ■ 1 have, on aiuth.er occasion daring this i:. all. \vn, tieai the ct-imaercial tables and oth- i'f i nlic sjur^'es, that during the eight years of br^ v, tilt' in^'rease of our foreign comme ce, :ir ^•image, both coa&twise and fort'ign. was - ■ iitiiely arrested : and that the exports of do- manufactures actually f 11 off. although it . a j ri.“ 1 • xempt from any ge neral convulsion uado or d langement of the currency. On the ae i-:oasion. I alsoshowed that tiie eight years of ! ; lion of diuies, which followed were marked , nn rxiraordinary impulse given to every branch iiidu^lry—agriculiuial, commercial, and manu- n’ing. Our exports of domestic productions. ' .l::!ir tonnage, increased fully a third, and our 1 r'lfanures still more; and this, too, under the ad- “ r’ircumstances of an inflated , unsteady curren- y. ' u! the whole machinery of commerce derang- ' 1 and broken. And yet, with this flood of light i ‘‘I uaihentic documents before us, what arc vve *' ''I to do To pass this bill, and to restore the d- ■ ‘.-.I hop* ! svstojn of restric tions and prohibitions, under the false guise of a re venue bill, as 1 shall next proceed to show. Yes, SenaNjrs, we are told by the chairman of th.e Finance Committee, and others who advocate it, that this bill is intended for revenue, and that of 18- •^3 v/as for protection; and it is on that assumption they attempt to discriminate between the two. and hoped lo reconcile the people to this measure. It is, indeed, true that the bill of 1828 was for protec tion. The treasury was then well replenished, and not an additional dollar w’as needed lo meet the de mands of the Government; and what made it worse, the public debt was then reduced to a small amount: and what remained was in a regular and rapid course of reduction, which would, in a few years, entirely extinguish the whole, when more than half of the revenue would have become surplus. It was under these circumstances that the bill of 1828, which so greatly mcreased the duties, was introdu ced. and became a law—an act of legislative fol- l}’’ and wickedness almost without example.— Well has the community paid the penalty. Yes, much which it now sutlers, and has suflered, and must suffer, are but its bitter fruits. It was that which so erroneously increased the surplus revenue after tlie e.\tinguishm nt of the debt of 1832; and it was that surplus which mainly led to the vast ex pansion of the currency that followed, and from which h.ive succeeded so many disasters. It w’as that which wrecked the currency, overthrew the'al- most entire machinery of commerce, precipitated hundreds of ihous.uids from affluence to want, and wliich has done so much to stain private and public morals. But is this a revenue bill? We have, indeed, tiie word of the chairman for it. He tells us it is necessary to meet the expenditures of the Govern ment ; of which, however, he gave us but little proof, cxcept his word. But I must inform him that he must go a step further before he can satisfy me.— He must not only show that it is necessary to meet the expenditures of the Government, but, also, that those expenditures themselves are necessar3^ He must show that retrenchment and economy have done their full work ; that all useless expenditures have been lopped off; that exact economy has been enforced in every branch, both in the collection and disbursement of the revenue ; and above all that none of the resources of the Government have been thrown away or surrendered. Has he done all that? Or has he showed that it has been attempt ed ?—that either he or his party have made any systematic or serious efforts lo redeem the pledge, so often and solemnly given before the election, that e.\’''Ciidilures should be greaih’’ reduced below what tno'" were, and be brought down to se venteen sixteen ^*’tnas low as thirteen millions of dollars annual!}'? lias *^0t t.ieir course been di recily the rtveisc, siice they vamo itUo power? Have they not surrendered one of tiiC grr.^l sources of revenue—the public lands; raised the exj>‘ndi- lures from iw'enty-one or two millions, to twenty .se ven annuallv ; and increased the public debt from five and a hall to more than twenty millions? And has not all this been done under circumstances well calculated to excite suspicion that the real design was to create a necessity for duties, with Ihe express view of allbrding protection to manufactureb?— Have they not, indeed, told us, again and again, through iheir great head and organ, that the two great and mdkspensable measures to relieve the coun try from exisiing embarressments were a protective taritr, and a national bank? and is it, then, uncharita ble to assert that the expenditures, so far from being necessary lo the just and economical wants of the (.Government, have betn raised to what they are, with the design of passing this bill in the only way it could be passed—under the guise of revenue? But, if it were admitted that the amount it pro poses to raise is necessary to meet the expenditures of the Cjovernment. and, that the expenditures them selves were necessary,—the chairman must still go one step furllier, lo make good his assertion that this is a bill for revpiiue, and not for protection. He must show that the duties it proposes are laid on revenue, and hjI on protective principles. No two things, Senators, are more different than duties for revenue and protection. They are as op posite as light and darkness. Thti one is friendly, aii'i the other hosiile lo the importation of the arti cle on which they may be imposed. Revenue seeks not to exclude or diminish the amount impor ted; on the contrary, if that should be the result, it neither designed nor desired it. ^^ hile it takes, it patronizes; that il may lake more. It is the re verse, in eVery respect, wilh protection. It seeks, directly, exclusion or diminution. It is the desired result; and, if it fails in that, it fails in. its object. But, akhough so hostile in characier, they are inti mately blended in practice. Every duty imposed on an arlicle manulactured in the country, if it be not the point of pfohibition. will give some revenue; and eveiy one laid for revenue, be it ever so low. must afford some protection, as it is called. But, notwithstanding they are so blended in practice, plain and inleiiigible rules may be laid down, by which the one may be so distinguished from the other, as never to be confounded. To make a duty a revenue, and not a protective duty, it is indispensa ble in the lirtt place, that it should be necessary to meet the expenditures of the Government; and, in the next, that the expenditures themselves should be necessary for the support of the Government, with out the deiicit being caused intentionally, to raise the duty, either by a surrender of other sources of revenue, or by neglect or waste. In neither case, as has been stated, would the duty be for re^'enue. U must, in addition, never be so high as to prohib it the importation of the article; that would be utterly incompatible with the object ot levenue. But there are other less obvious, though not less important rules, by which they may bs discriminated uith equal certainty. On ail articles on which duties can be imposed, there is a point in the rate ol duties which may be called the maximum point of revenue—that is, a point at which the greatest amount of revenue would-i*e raised. If it be elevated above that, the imporiation of the article would fall oti more rapid ly than the duty would be raised; and if depressed below itj the reverse effect would follow: that is, the duty would decrease more rapidly tiian the im portation would increase. If the duty be raised above that point, it is manifest that all the interme- s”n'*c '"Tcn th-3 maxim’un poji:* a^.i ’!; it which it may be raised, would be purely protective, and not at all for revenue. Another rule remains to be laid down, drawn from the ficts just staled, still more important than the preceding, as far as the point under consideration is involved. It results from the facts stated, that any given amount of duty, other than the maximum, may bo collected on an}" article, by two distinct rates of duly—the one above the maximum point, and the other below it. The lower is the revenue rate, and the higher the pro tective; and all the intermediate is purely protective, whatever it be called, and involves, to that extent, the principle of prohibition, as perfectly as if raised so high as to exclude importation totally. It fol io ivs, that all duties not laid strictly for revenue, are purely protective, whether called incidential or not: and hence the distinction taken by the Senator from Arkansas immediately on my left, [Mr. St'vie/-.] be tween incidental and accidental protection, is not less true and philosophical than striking 'J'he latter is the only protection compatible w'ith the principles on which duties for revenue are laid. This bill, regarded as a revenue biil. cannot stand the test of any one of these rules. That it cannot as to the two first, has already been shown. That some of the duties amount to prohibition, has been admiued by the chairman. To those he admits, a long list of others might bo added. I have in my drawer an entimeralion of many of then^, furnish ed by an intelligent and experienced jnerchant; but I will not occupy the time of the Senator by read ing the catalogue. That a large portion of the du ties on the .protected articles exceed the maximum point of revenue, will not be denied: and tliat there | are few or none imposed on protected articles, on | which an equal revenue might nol be raised at a j lower rate of duty, will be admitted. As, then, ev ery feature of this bill is stamped with protection, it { is as much a bill for protection as that of 1S28. Wherein, ihrn, does it differ? In this ; that went openly, boldly, and manfully for protection: and this assumes the guise of revenue. That carred the drawn dagger in its hand ; and this conceals it in its bosom. That imposed the burden of protection—a burden admitted to be unjust, unequal, and oppres sive, but It was the only burden; but ihis superadds the weight of its false guise—a heavy debt, extrava gant expenditures, the loss of public lands, and the prostration of poblic credit, with the intent of con cealing its purpose. And this, too, may be added to tJie other objections, which makes it worse than its predecessor m abomination. 1 am, Senators, now brought to the important question, why should such a bill pass? Who asks lor it and on what ground? It comes ostensibly from the manufacturing interest. I say ostensibly ; for 1 shall show, in the sequel, that there arc other and more powerful interests among its advocates and supporters. And on whar grouf ds do they ask it? It is on that of protection. Protection against what? Against violence, oppression, or fraud? ffso, ( government is bound to aflbrd it, if it comes vvitii.'*'^ sphere of its powers, cost what it may. It is i.':e object for which Government is instituted; and if it fa2.1s in that, it fails in the highest point of duty. No; it js ai^'.ainst neither violence, oppres sion, nor fraud. T*:ere is no complaint of being disturbed in property ov pursuits, or of being de frauded out of the proceeds of industry. Against what, then, is protection asked ? li is against low prices. The manufacturers complain that they cannot afford to carry on their pursuits at prict^ as low as at present; and that, unless they can get higher, they must give up manufacturing, 'i’he evil, then, is low prices; and what they ask of Go vernment is to give them higher. But how do they ask It to be done ? Do they ask Government lo compel those who may want to purchase to give them higher ? No; that would be a hard task, and not a little odious; difiicult to be defended on the principles of equity, justice, or the Conslitution, or to be enforced, if it could be. Do they ask that a tax should be laid on the rest of the community, and the proceeds divided among them, to make up for low prices ? or, in other words, do thej’’ ask for a bounty? No; that would be rather too open, op pressive, and indefensible. How, then, do they ask it to be done? By putting down competition, by the imposition of taxes on the products of others, so as to give them the exclusion of the market, or at least a decided advantage over others; and thereby enable them to sell a* higher prices. Stripped of all disguise^ this is their request; and this they call protection. Protection, indeed ! Call it tribute, le vy, cxaction, monopoly, plunder ; or, if these be too haish, call it charity, assistance, aid—anything rath er than protection, with which it has not a feature m common. Considered in this milder light, where. Senators, will you find the power to give the assistance ask ed ? Or, if that can be found, how can you recon cile it to the principles of justice or equity to grant il ? But suppose that to be overcome, I ask. are you prepared to adopt as a principle, that, whenev er any branch of industry is suffering from depress ed prices, It is your duty to call on all others to as sist It ? Such is the broad principle that lies at the bottom of what is asked ; and what would it be, if carried out, but equalization of income ? And what that, but agrarianism as lo income? And m what j would that differ, in effect, from the agrarianism of • property, which you, on the opposite side of the ; chamber, profess so much to detest? But, if yoii | are not ready to carr}' out the principle in its lull extent, are you prepared to resinct it to a class—the manufacturers ? Will you give them the great and ! exclusive advantage of having the right ot demand -; ing assistance f rom the rest of the community, when-1 ever their profits are depressed below the point of remuneration by vicissitudes to which all olhcis are t exposed ? j But, suppose all these difficulties surmounted:’ there is’one rule, where assistance is asked, which. 1 on no principle of justice, equity, or reason, can be | violated—and that is, to ascertain, from careful and ' cautious examination, whether, in fact, it be needed ; by the party asking; and. if it be. whether the one of whom it is asked can alford to give it or not.— j Now. I ask whether any such examination has been j made ^ Has the Finance Committee, which repor- : ted this bill, or the Committee on Manufactures, to which the numerous petitions have been referred, ' or any member of the majority v.-ho suonorts the i bill, made an '■,1'l‘ r * n-irprt-3in carry on their manufactures without hiirher prices? Or, jiave they given themselves the least trouble to ascertain whether the other portions of the commu nity could afford to give ihem higher? Will any one pretend that he has? I can .say, as to the in terest with which 1 am individually conn(cted. I have heard of no :ruch inquiry ; and add further. I'rom my own experience, (and {earlf^ssiy appeal to every planter in the chamber to confirm my state ment,) that the great cotton grou-ing inurest cannot aflbrd to give higher prices for supplies. As much as the manufacturing interest is embarrassed, it is not more so than the cotton-growing interest; and as moderate as may be the profit of the one, it can not be more moderate than that of the other. I ask those w'ho represent the other great agricultural staples—1 ask the great provision interest of the West, the navigating, the commercial and, finally, the great mechanical and handicraft interest—if they have been asked whether they can afford to give higher prices for their supplies ? And, ii so, wh:it was their answer ? if, then, no such examination lias been made, what has been done? Those who have asked for j»rotection and favor. Are you prepared to respond lovorably to the call, by voting for this bill ? Wa ving the high questions ot justice and constitutional power. I propo^e to ex'imin^', in tlie next place, tho nn. re question ot expr*dif?iK y ; and. foi that purpose, the operation of these high proieciive duties—tra cing, Inst, ih*'ir ell- cts on the mmuficturing inter est.^ intended to be benetitled and aftei v/ards on the export interest, against which thi y are d.reeled. And here let mo >ay, bet'ori- I enter oii this part Of my subject, that I am no enemy to the manufac turing interest, (hi the contrary, few rrgird ihem with greater favor, or place a higtier tslanate on their importance, than myself According lo mv conception, the great advance made in the arts by mechanical and chemical inventions and d; cuve- ries, in the last three or four generations, iias done more for civilization, and the eh vation of the hu man race, than all other causes combined in the same ])eriod. W ith tins impressi ni, 1 behold with pleasure the progress ol tlie arts in every depart ment, and look lo them, mainly, as the great means of bringing about a higher slat* of civilization, wilh all the accompanying vltssings. physical, political. aid. have been permitted lo fix the amount, accord- \ and moral, li is not lo them, nor lo the inaoufac ing to their own cupidity; and this bill has fixed the assessment on the other interests of liie commu nity, without consulting them, wilh all the provisions necessary for extorting the amount in the promptest manner. Government is lo descend from its high appointed duty, and become the agent of a portion of the community to extort, under the guise of protec tion. tribute from the rest of the community; and thus defeat the end of its institution, by perverting powers, intended .^or iho protection of all, into the means of oppressing one portion for the benefil of another. But there never yet has been devised a schema of emptying the pockets of one portion of ihe comniuni- ty into those of the other. howi?ver unjust oroppies- sive, for which plausible reasons could not be found; and fevv have been so prolific of such as that un der consideration. Among them, one of the moit plausible is, that the competition, which is asked lo be excluded, is that of foreigners. The compelition is represented to be between home and foreign in dustry ; and he who opposes wiiat is asked, is held up as a friend to foreign, and the enemy to homu in dustry, and is regarded as very little short of being a traitor to his country.' I take issue on the fact. I deny that there is, or can be, any competition be tween home and foreign industry, but through the latter ; and assert that me real compelition, in all cases, is, and must be, between one branch of home industry and another. To make good the position taken, I rely on a simple fact, which none will deny —that imports are received in exchange for exjiort.'. From that, it follows, if there be no export trade, there will be no import trade; and that to cut ofl’ the exports, is to cut off the imports. It is. then, not the imports, but the exports which aie exciianged for them, and without which they would not be introduced al all, that causes, in reality, the compe tition. Il matters not how low waq:es of other coun- ^ O tries may be, and how* cheap their productions, if we have no exports, they cannot compelc wilh ours. The real competition, then, is with that industry which produces the articles for export, and which purchases them abroad, and brings back the import ed articles, in exchange for them: and the real com plaint is, that those so employed can furnish the market cheaper than those can .who manufacture articles similar with the im.portcd: and what, in truth, is asked, is, that the cheaper process of sup plying the market, should be (axed, by imposing high duties on the importation of the articles receiv ed in exchange for those exported in order to give the dearer a monopoly, so that it may sell its products for liigher prices. It is, in fact, a warfare on the part of the manufacturing iudustry. and those which are associated with it, against the export in dustry of the community, and those associated with it. Now, I ask, whai is that export industry "2 W^hat is the amount produced? by whom produ ced? and ihc number of persons connected with il, compared wilh those who ask a monopoly againsi il ? The annual domestic ex])orts of the country may be put down, even in the present embarrassed con dilion ot the country, at J^l 10,000,000, valued at our own ports. It is drawn from the forest, the ocean, and the soil, except about ten millions of do meslic manufactuers. and is the product of that vast mass of industry engaged in the various branches of the lumber business, the fisheries, in raising grain and stock producing the great agricultural, staples, rice, cotton, and tobacco; in purchasing and shipping abroad these various jjroducts, and ex changing and bringing home, in return, the j»ro- ducls of other countries, with all the associated in dustry necessary to keep this vast machinery in mo tion—ihe ship-builder, the sailor, and tiie hundreds of thousands of mechanics, including manufacturers themselves, and others, who furnish the various tie- luring interest, I objcct;-but lo what I believe lo be the unjust, the unconsiituiioual. it^e mistaken and pernicious m(*ans of beilerii^|plieir con4Uion, by wlial is called liie proteclivef^system. In tracing what would be the effects of ihtt high protective duties pro})osed by the bill, I shall sup pose al) the grounds assumed by its advocates to be true: that the low prices complained of are caused by the imports received in exchange for exports; that the imports have, to a great extent, taken posses sion of tiie market; and that the imposition of high duties proposed on the imports w^^j&jpclude them t iiher wholly, or to a great ejrtent; that ihe market, in consequence, wonM be relieved, and be followi.d l>y the rise' (?f jwice ac?irod i assume all lo be as siat(d, bocaus#4t:^ supposition most fa vorable to those who duties, and ihe one 0.1 which they rely '^^^fe out their cise. It ia r* " wish to treat (lite subjecl-^h the utmost fair- nesj. h.avau'T no other o^i^ct^^^Tiew but truth. According, liicn. to sa^)|^sition, the first lead ing etb.ci of iheso hi^ protective duties wou Id be to exclude ihe imporlelf ariickf. against which they are asked, either en'iively, d|' {j a grf'at extent. If tliey sliould fail in that, ft IS obvious that they would fail in the itnmedialfr olyect desired, and that the whole would be an abdrtkm. What, then, I ask, must be theneccssary conseqihgnce of the exclusion of the articles against which the protective duties are proposed to bo laid 'i’he ai^wer is clear. The portion of the exports, which \Vdlild have been e:t- clianiijcd for them, must thrn retifW^'ih the unpro- lecterl and free artich s; and, among lhj& latter, spe cie, in order to purcfiase from the manufacturers at home the sup])lies which, but for the duties, would have been purcfiase'd abroad. v\nd \vfiat would be the effect of that, hut to turn the* exchange, arti ficially, in our favor, as agiinst other countries and in favor of tfie nrinui icturin^ portion of the coun try, as against all olheis And what would that be, but an artificial conc ntralion of the the countiy in ttie m inufacturing regiorl, nied by a corresj)onding exp insion of the currency from ihat cause, and still more from (he discounts of the banks ? 1 next ask. what must be the elf cts of such expansion, but that raising prices llu re? ;ii,i wliat of that, but ot increasing the t xpense of man ufacturing, and that continuing till the iniTe:ised {x- pense shall raise the cost of producing: so iji^h, as to be equal to thal of the imporleil ailich . witii t!iu addition of the duly, when the iniportntion' wii! again commence, and an additiona! elu!v be nianl- (d ? Tin's innvitabh* result would be accelerat'-d ijy t a u causes. The rfllct of the duly in prevditing im portation would cause a falling off of the demand abroad, and consequent falling off, tempor-irily. of price there. The exlent would depend on the extent of the falling off compared with the gt neral de mand f;r the article; and, of course, would be grea ter in some aiticles, and less in olhi i ?. All would be more or less affected ; but none* lo an exluit so great as was insisted on by the chaiirnan. anl.other advocates of the system, the other day, in the dis cussion of the duly on cotton-bagging; but shll sufTi- ci'-ni, in mOil cases, to be se-nsibly f' lt. I say tern* yorarily; for the great laws which rtgnlateand equalize prices would, in time, causr*. In turn, a cor responding falling ofT in the pioduction of the arti cle, prr;port:onal to the falling of! of the d man.l. But anc'ther and more powerful cau.^e would be put in o])‘ration al home, which would tcnds^ill more lo slK-rt* n the jterivjds betw(» n the- d- inan l for protection. '1 he sli.nulus caustd by the ex]j:ui>;on of the currrncy, and mcreai(.d dt mand ruid /u ic s conseqiii nt on the elusion (d the- aiticle It‘ in abioacl, woulJ tempt nurrieMjus ad', intui* rs to i w^h into the business, oft* n wjih"Ut .\perience or capi- cessary supplies for that pin pose. It is difiicull to tal: and the ir.^rfas* i p.(>iu "iun. in c'ii-'qu( nc -, estimate u'ilh precision the number emjdoyed, di- ihro’/.n !!.'.■» the marWf-ild greatly accele,a:*j recily or indirectly, in keeping in motion this\ast t!ie peru. N : Kri- .v- 1 atid einbarrassinentj and d'-iirmd TLj !,• - eral! ;:i uf tu- ;-! ai (Jiawn th-il ‘on^r h'»,- s of : -- li >; L i:. ei j I iiave • » . . , ♦ j s'jcc- ''a.- ^ -:i' impartial or careful exa:.i w’helhfT “hev w'ho a: * illation, m k aM win keepin machinery, of which our great comm( icial cities, and numerous sh\j)s, which whiten the oc an, are but a small part. A careful exan.mation tjf the re turns of the statistics accompanying the cehiU'. would afiiTrd a probable estimate: and. on the laith of such an examination, made by a friei.J, i leei my self warranted m saying that it exceeds tliose eiii- ployed in manufacturing, with the ascocialcd induo- iry necessary to furnish them wiiij su[ip!ies. in th' proportion at least of ten to one. 1*. is mucii greater. Such is the expoit inJu^try of :!:e country ; r:-!j Its amount; such ltie ^ource: from which it ic uiav'. n . such the variety and magnitude of its branciiec : an.i such the proportion m numb' rs wIkcIi tlr ^'j w!iO are employed m it, directly and indiu-etly. l.eau (v those who are, in like niaunLr, emnloytd :n in:;n'2- facturing indu-^try. It this vast anJ van Ui amount of in Ja'/.ry. enijdoyed at nome, an t'1. a .', i.,g from the for: il. tiie water, an 1 the soil, ac r. \'.'i'. ^ ; by creation, tins immense surplus wear.n, t-; t e s-nt j abroad, and exciianged lor iiie productiun'i ■;! t.‘.' . res: of the globe, that is stigmatiz-d as foreign ;n- j ;.f dustry 1. And it is tha’, Senatois, which you are n j a | called on to tax, by i.nposing the higii duties pie-p.p^ poaed m this bill oa’tiiC articles imported in • xciiange. . ,.v. in Older to exclude tiiein in whole or part, f j: ti.--1 ‘ supposed beii*. i.t id a niinor mtore:;t, v. nn,n ^ >r ;t' ca- :i pn-tcclie-n f illy illuotratfthe op truia of the i-'.ncl’i - iy jjrotective taiifi 1 has di:Nippointed li»e 1 ha- been foll-jWf d i I ( r 1. . . r r I •-vn on a ! ■!i = ;n f ;i-; one n. .i*- l it incr* c.t. 1; for . ‘ jasi- n a!t( r ‘lOU in tlie terni.i.at'-'- in one n.n from V. hicli th c the u- 1 • r^al ♦ xp h' c-'in.ry ol I ■ li a I '" ^! le ill'c in lavur j! \vL:jh :i. Mgn ‘ lid ; an 1 I n ; v proc- ed to grf;at*xpil int-jrest. ■'g.iin.^t v.hici. i st-llt '** ' ■' - ‘ i.f.ii.t — >1 wh.d.' LTti'-r u ..’. . ]’] . '-ry ii-'S ’her. an I (-aoii re'.' ding. n in. tt.e u iiol-: ...n, such its ti;at .g^ling lo e-;cap^-. ■m on me in’v-re^L 1 0 ctive C V.i> >. a' 'e- them ’ill tn . V 'lie !o.id a: tne ian.j point—t!*.j exciUi.uii. r.i j ;irt • : the impoiliition of the aitiCles ag::n-t o; til’ V .are la\i—ttie;r v.-iy o*j ct, a ani wiiicli. ii not effejt' d. tii-2 wii [';.e neo'jssary cunseou'-nce ot tiie tj ii:.'or'.s. n;u>t b*. 'iltiin'tte.y, tii- ex|)‘ji ts :• i: is a a th'i V i:ii-i;s t!M, ;' a: 1 hav nni' ..O'; 1. are .i;utuaiiy uepen *en- . a that ti:e ani' ui.: of 1, It. lak 'Hg a .M: L-. :ji.Ilip’aOIl *>i I 's