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PUBLISHED WEEKLY, BY THE CONSTITUTION AND THE UNION OF Til K STATES THEY "MUST BE PRESERVED." s VOLUME IX. NUMBER 454. ' TERITIS-$3 PER ANNUMf, PAYABLE IJV ADVANCE. . WILLIAM W. IIOLDEIV, EDITOR AJSTD PROPRIETOR. RAIEIiiI, IV. C., WEDXRSOAV, JULY IS, I 843. TERMS. THE NORTH CAROLINA STANDARD, IS FUB.ISHfcl . THREE DOLLARS PER ANNUM, A" AD VANCE. Those'pcrsons who remit by Mail (postage paid) Five Dollars will be entitled to a receipt for Six Dollarg, or two years' subscription to the Standard one copy rnnipii nne vear. two years, oi "t Tot four copies, : : . ten " : 1 $10 00 20 00 35 00 The same rate for six months. P-Any person procuring and forwarding five subsenbers, with the cash ($13), will be entitled to the Standard one yen free of charge. Advertisements, not exceedingur lines, will be inserted onetime for One Dollar, and twenty-five cents for each subsequent insertion those of greater length, in proportion. Court Orders and Judicial. Id rertisements will be charged twenty-five per cent higher than the above rates. A deduction of 33 1-3 per i cent, will be maue 10 uiose wn- j ftrs-If the number of insertions be noi roamed year. ., .- . ho nntinned until ordered out. on tnem, --- Letters to the Editor must come of postage, or they may not be attended to. POLITICAL. SPEECH OF MR. CALHOUN, OF SOUTH CAROLINA, On the passage of the Tariff Bill delivered in the Senate of the V. Slates, Aug. 1842. Mr President: The tariff bill of 1S28 has, hv common consent, been called the bill of abom inations: but, as bad as that was, this all things considered is worse. It is, in the first place, worse, because it is more onerous; not that the duties' are on an average higher for they are probably less, by about 10 percent. This, it is estimated, will average about 3G per cent, ad valo rem on the aggregate of the imports; and that averaged, according to the best estimate that I have been able to make, about 4G. But this dif ference is more than made up by other considera tions: and among them, that allowed long credit for the payment of the duties: this requires them to be paid' in cash, which will add to their burden not less than 4 or 5 pr cent. Again : there has been a great falling off in prices on almost all ar ticles; which increases, in the same proportion, the rate per cent, on the cost of all specific duties probably not much less than 50 per cent; which, considering the number and the importance of the articles on which they are laid in this bill, will much more than make up the difference. To these may be added its arbitrary and oppressive provisions for valuing goods, and collecting du ties, with the fact that it goes into operation, with out notice, immediately on its passage, which would fall heavily on the commercial interest; and the undue weight it would impose on the less wealthy portions of the community, in consequence of the higher duties it Jays on coarse articles oi general consumption. It is. in the next place. wo:se, because, if it should became a law, it would become so under circumstances still more objectionable than did the tariff of 1828. I shall not dwell on the fact that, if it should, it would entirely supersede the com promise act, and violaf pledges openly given here in this chamber, by its distinguished author, and the present Governor of Massachusetts, then a mpmber of this body that, if we of the South would adhere to the compromise while it was operating favorably to the manufacturing interest, they would stand by it when it came to operate favorably to us. I pass, also, without dwelling on the fact that it proposes to repeal the provision in the act of distribution, which provides that the act should cease to operate if the duties should be raised above 20 per cent. a provision, without which neither that nor the bankrupt bill could have become a law, and which was inserted under circumstances that pledged the faith of themajoii ty to abide by it. I dw.Il not on these double breaches of plighted faith, should this bill become a law not because I regard them as slight ob jections; on the contrary, they are of a serious character, and likely to exercise a very pernicious influence over our future legislation, by prevent ing amicable adjustments of questions that may hereafter threaten the peace of the countr)' ; but ; so hostile in character, thpy are intimately blend because I have, on a former occasion, expressed ed in practice. Every duty imposed on an arti- my views lullv in relation to them. 1 pass on to tho objection that, if this bill should pass.lt would, against the clar I isxht of experience. When that of 182S passed, we had but little experience as to i "ic cuccw ui uie protective poncy. n js true mai tiut, notwunstanaing tney are so Dienueu in prac the act of 1824 had been in operation a few years, ! tice, plain and intelligible rules may be laid down, wnicn may De regarded the hrst which avowed ; the nolicv that ever nnssed: but it had hpn in , j -- , , . ... operation too short a time to shed much light on the subject. Since thenr our experience has been greatly enlarged. We have had periods of con siderable duration both of increase and reduction of duties, and their effects respectively on the in-' uusiry ana prosperity of the country, which ena bles us to compare, from authentic public docu ments, the result. It 13 most triumphantly in fa vor of reduction, though made under circumstan ces most adverse to it, and mot favorable to in crease. I have, on another occasion during this session, shown, from the commercial tables and other authentic sources, that, during the eight years of high duties, the increase of our foreign commerce, and of our tonnage, both coastwise and foreign, was almost entirely arrested ; and that the exports of domestic manufactures actually fell off, although it was a period exempt from any general convulsion in trade or derangement of the currency. On the same occasion, I also showed that the eight years of the reduction of duties, which followed, were marked by an extraordina ry impulse given to every branch of industry agricultural, commercial, navigating, and manu facturing. Our exports of domestic productions, and our tonnage, increased fully a third, and our manufactures still more; and this, too, under the adverse circumstances of an inflated, unsteady cur rency, and the whole machinery of commerce de ranged and broken. And yet, with this flood of ngni irom authentic documents before us, what are we about to do ? To pass this bill, and to re store the old, and. as was hoped, exploded system of restrictions and prohibitions, under the filse guise of a revenue bill, as I shall next proceed to show. Yes, Senators, we are told by the chairman of the Finance Committee, and others who advocate it, that this bill is intended for revenue, and that of l o'Zo was lor protection ; and it is on that assump tion they attempted to discriminate, between the two, and hoped to reconcile the people to this measure. It is, indeed, true that the bill of 1828 was for protection. The treasury was then" well replenished, andnot an additional dollar was need ed to meet the demands of the Government; and what made it worse, the public debt was then re duced 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 whoJe, when more than half of the revenue would have become surplus. It was under these circum stances that the bill of 1828, which so greatly in creased the duties, was introduced, and became a law an act of legislative follv and wickedness almost without example. Well has the comma- nity paid trie penalty. Yes, much which it now suffers, and has suffered, and must suffer, are but its bitter fruits. It was that which so enormously increased the surplus revenue after the extinguish ment of the debt in 1832: and it was that surplus which mainly led to the vast expansion of the cur rency that followed, and from which have suc ceed d eb ..many disasters. It was that which wrecked the currency, overthrew the almost en tire machinery of commerce, precipitated hundreds or thousands trom affluence to want, and which has done so much to taint private and public mor als. But is this a revenue bill? I deny it. We have, indeed, the word of the chairman forit.- He tells us it is necessary to meet the expendi tures ot the Government; of which, however, he gave us but little proof, exeppt 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 necessary. 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 dis bursement 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 at tempted? that either he or his party have made any systematic or scu'ous effort to redeem the pledge, so often and solemnly given before the election, that the expenditures should be greatly reduced below what they then were, and be bro't down to seventeen, sixteen, and even as low as thirteen millions of dollars annually? Has not their course been directly the reverse, since they came into power? Have they not surrendered one of the two great sources of revenue the pub lic lands; raised the expenditure from twenty-one or two millions, to twenty-seven annually; and increased the public debt from five and a half 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 dutis, with the express view of af fording protection to manufactures? Have they not, indeed, told us, again and again, through their great head and organ, that the two great and in dispensable measures to relieve the country from existing embarrassments were a protective tariff, and a national bank ? and is it, then, uncharitable to assert that the expenditures, so far from being necessary to the just, and economical wants of the Government, have been raised to what they are, with the design of passing this bill in the only way it could be passed under the guise of a revenue? But, if it were admitted that the amount it pro poses to raise is necessary to meet the expendi tures of the Government, and that the expenditures themselves were necessary, the chairman must still go one step further, to make good his asser tion that this is a bill for revenue, and not for pro tection. He must show that the duties it proposes are laid on revenue, and not on protective princi ples. No two things, Senators, are more different than duties for Tevenueand protection. They are as opposite as light and darkness. The one is friendly, and the other hostile, to the importation of the article on which they may be imposed. Re venue seeks not to exclude or diminish the amount imported ; on the contrary, if that should be the result, it neither designed nor desired jf. While it takes, it patronizes; and patronizes, that it may take more. It is the reverse, in every respect, with protection. It seeks, directly, exclusion or diminution. It is the drsirrd nsult; and, if it fails in that, it fails in its obiect. But, although cicjnanuraciureci in nne country, n u oe not raisca to the point of prohiDition, will, give some reve nue: and everv one laid for revenue, be it ever so low, must afford some protection, as it is called. by which the one may be so distinguished liom the other, as never to be confounded, lo make dfitv a revenue, and not a protective duty, it is indispensable, in the first place, that it should be necessary to meet the expenditures-of the Gov ernment ; and, in the next, that the expenditures themselves should benccesary for the suppott of the Government, without the deficit.being caused intentionally, to raise the duty," either by a sur render of other sources of revenue, or byneglect or. waste. In ne ither case, as lias.fbeen; stated, would the duty be for revenue. It must, in addi tion, never be so high as to prohibit the importa tion of the article ; that would be utterly incom patible with the object of revenue. But there are other less obvious, though not less important rules, by which they may be discriminated with equal certainty. . On all articles on which duties can be imposed, there is a point in the rate of duties which may be called the maximum point of revenue that is, a point at which the greatest amount of revenue would be raised. If it be elevated above that, the importation of the article would fall off more rap idly than the duty would be Taised; and, if de pressed below it, ths reverse effect would follow : that is, the duty would' decrease more rapidly than thefmportation wtould increase. If the duty be raised above that point, it is manifest that all the intermediate space between the maximum point and that to which it ma)' be raised, would be purely protective, and not at all for revenue. Another rule 'remains "to be laid down, drawn from the facts just stated, still more important than the preceding, as far as the point under consid eration is involved. . It results from the facts stat ed, that any given amount of duty, other. than the maximum, may be ; collected on any article, by two distinct rates of duty the one above the max imum' point, and the other below it. The lower id the revenue rate, and the higher the protective"; and all the intermediate is purely protective, what ever Jt be called, and, Jnyolves, to .that extentpthe principle'of prohibition, as perfectly as if raised so high as to exclude importation totally. It follows, that all duties not laid strictly for revenue, are purely protective, whether called incidental or not; and hence the distinction taken by the Senator from Arkansas immediately on my left, Mr. Se vier, between incidental and accidental -protec tion, is not less true and philosophical than strik ing. The latter is the only protection compatible with the principles on which duties for revenue are laid. This bill, legarded as a revenue bill, 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 admitted by the chairman. To those he admits, a long list of - others might be added. I have in my drawer an enumeration of many of them, furnished by an intelligent and experienced merchant; but 1 will not occupy the time of the Senate by reading the catalogue. That a large portion of the duties on the protected articles ex ceed the maximum point of revenue, will not be denied; and that there are few or none imposed on protected articles, on which an equal revenup might not be raised at a lower rate of duty, will be admitted. As, then, every feature of this bill is stamped with protection, it is as much a bill for protection as that of 1828. Wherein, then, does it differ? In this: that went openly, boldly, and manfully for protection; and this assumes the guise of revenue, lhat carried the drawn dag ger in its hand ; and this conceals it in its bosom. That imposed the burden of protection a burden admitted to be unjust, unequal, and oppressive, but it was the only burden; but this superadds the weight of its false guise a heavy debt, extrava gant expenditures, the loss of public lands, and the prostration of public credit, with the intent of con cealing its purpose. And thisx too, may be added to the other objections, which makes it worse than its predecessor in abomination. 1 am, Senators, now brought to the important question, why should such a bill pass? Who asks for it, and on what ground ? It comes os tensibly from the manufacturing interest. I say ostensibly; for I shall show, in the sequel, that there are other and more powerful interests among its advocates and supporters. And on what grounds do they ask it? It is on that of protection. Pro tection against what? Against violence, oppres sion, or fraud? If so, Government is bound to afford it. if it comes within the sphere of its pow ers, cost what it may. It is the object for which Government is instituted ; and if it fails in that, it fails in the highest point of duty. No: it is a- gamst neither violence, oppression, nor fraud. There is no complaint of being disturbed in pro perty or pursuits, or of being defrauded out of the proceeds of industry. Against what then, is pro tection asked ? It is against low prices. The manufacturers complain that they cannot afford to carry on their pursuits at prices as low as at pre sent ; and that, unless they can get higher, they must give up manufacturing. The evil, then, is low prices; and what they ask of Government is to give them higher. But how do they ask it to be done ? Do they ask Government to compel thoso who may want to purchase to give them higher? No; that would be a hard task, and not a little odious; difficult to be defended on the prin ciples of equity, justice, or the Constitution, 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 they ask for a bounty ? 4 No; that would be rather too open. oppressive, and indefensible. How, then, do they ask it to be done? By putting down competition, by the imposition of taxes on the products of oth ,ers, so as to give them the exclusion of the mark et, or at least a decided advantage. over others ; and thereby enable them to sell at higher prices. Stripped tall disguise, this is their request, and this they call protection. Protection, indeed I Call it tribute, levy, exaction, monopoly, plunder; or. if these be loo harsh, call it charity, assistance, aid anything rather than protection, with which it has not a feature in common. Consider in this milder light, where, Senators, will you find the power to give the assistance asked? Or, if that can be- founl, how can i you reconcile it to the principles of justice or equity to grant it ? But suppose that to be overcome, I ask, are you prepared to 5 adopt as a principle, that, whenever any branch of industry is suffering from depressed prices, it is your duty to call on all others to assist 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 in come ? And what that, but agrarianism as to in come? And in what 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 you are not ready to carry out trie-principle in its full extentj are you prepared to restrict ''it to a single class the manufacturers? Will you give.thern them the great and exclusive advantage of having the right of demanding as sistance from the rest of the community, whenever their profits are depressed below the point of re-j muncraiion Dy vicissitudes to which uu utucia cue exposed ? . - But, suppose aJlthwe difficulties surmounted; there is one rule, where assistance is asked, which, 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 whomit is asked can afford tq give it or not. Now, I ask whether any 'such examina tion has been made? Has the Finance Commit tee, which reported this bill, or the Committee on Manufactures, to which, the numerous petitions have been referred, or any member of the majori ty who supports this bill, made an impartial or careful examination, in or to ascertain whether they who aslc aid can carry on their manufac tures without hicher prices? Or, have they giv en themselves the least trouble to ascertain, wheth er the other portions of the community could af ford to give them higher? Will any one pretend that he has ? ' I can say, as to the mteres with which I am individually connected,'I hav heard of no such inquiry; andean add further, from my own experience, '(and fearlessly appeal, to every planter in th$ chamber to confirmrmy statement.) that the great cotton-growing interest cannot af ford to give higher prices' for its supplies. "As much as the manufacturing interest Is embarras sed, it is not more so than: the cotton-growing inr terest : and .as moderate as .'may. be the profit of the one, it cannot be more rnoderate than that of the other. I ask those who represent xne piner great agricultural ' staples I- ask the great'pro vision interest of. the West; the: .navigating the commercial, and, finally, the grcaf,mechanicaLand handic raft interests if t hey hayebeeii asked wheth er they can afford to give- higher prices for their supplies? And if so, what was their answer? If, then, no such examination has been made, what has been done? Those who have asked for aid, have been permited to fix the amount, accord ing to their own cupidity; and this bill has fixed the assessment on the other interests of the com munity, without consulting them, with all the pro visions necessary for extorting the amount in the promptest manner. Government is to descend from its high appointed duty, and become the agent of a portion of the community to extort, un der the guise of protection, tribute from the rest of the community; and thus defeat the end of its in stitution, by perverting powers, intended for the protection of all, into the means of oppressing one portion for the benefit of another. But there never yet has been devised a scheme of emptying the pockets of one portion of the community into those of the other, however unjust or oppressive, for which plausible reasons could not be found;, and few have been so prolific of such, as that under consideration. Among them, one of the most plausible is, that the compf tition, which is asked to be excluded, is that of foreign ers. The com petition is represented to be between home and foreign industry; and he who opposes what is asked, is held up as a friend to foreign, and the enemy to home industry, and is regarded as very little short of being a traitorto his country. I take the issup on the fart. I deny that there is, or can be, any competition between home and foreign industry, but through the latter; and assert that the real competition, in all cases, is, and must be, between one branch of home industry and an other. To make good the position taken, I rely on a simple fact, which none will deny that im ports are received in exchange for exports. From that, it follows, if there be no'cxport trade, there will be no import ttade; and that to cut offthe ex ports, is to cut off the imports. It is, then, not the imports, but the exports which are exchanged for them, and without which they would not be in troduced at all, that causes, in reality, the compe tition. It matters not how low the wages of other countries may be, and how ch?ap their produc tions, if we have no exports, they cannot compete with ours, Tlie real competition, then, is with that industry which produces the articles for export, and brings back the imported articles in exchange for them; and the real complaint is, that those so employed can furnish the market cheaper than those can who manufacture articles similar with the imported; and what, in truth, is asked, is, that this, cheaper process of supplying the market should be taxed, by imposing high duties on the importation ofthe articles received in exchange for those exported, in order to give the dearer a monopoly, so that it may sell its products for higher prices. It is, in fact, a warfare on the part of the manufacturing industry, and those which are associated with it, against the export industry of th? community, and those associated with it. Now, I ask, what is that export industry ? What is the amount produced ? by whom produced ? and the number of persons connected with it, compared with ihose who ask a monopoly against it? The annual domestic exports of the country may be put down, even in the present embar- rassed condition of the country, at 1 10.000,000, valued at our own ports. It is drawn from the forest, the ocean, and the soil, except about ten mil lions of domestic manufactures, and is the product of that vast mass of industry engaged in the vari ous branches of the lumber business, the fisheries, in raisinf grain and stock, producing the great agricultural staples, rice, cotton, and tobacco; in purchasing and shipping abroad these various products, and exchanging and bringing home, in return, the products of other countries, with nil the associated industry necessary to keep this vast machinery in motion the shipbuilder, the sail or, and the hundreds of thousands of mechanics, including manufacturers themselves, and others, who furnish the various' necessary supplies for that purpose. It is difficult to estimate with pre cision the nnmber employed," directly or indirect ly, in keeping in motion this vast mach.ncry, of which our great commercial cities, and numerous ships, which whiten the ocean, are but a small part. A careful examination of the returns of the statistics accompanying the census, would afford a probable estimate; and, on the faith of such exam ination, made by a friend, 1 feel myself warranted in saying that it exceeds those employed in man ufacturing, with the associated industry necessary to furnish them with supplies, in the proportion at 'hast of ten to one. It is probably much greater. Such is the export industry of the country; such its amount; such the sources fiom which it is drawn; such the variety and magnitude of its brandies; and such the proportion in numbers which thos: who are'e'mployed in it, directly and indirectly, bears to those who are, in like manner employed in manufacturing industry. It is this vast and various amount of industry employed at home, and drawing from the forest, the.water, and the soil, as i wTe by creation, this immense sur plus' wealth, to be sent abroad, and exchanged for the productions of the rest of the globe, that is stig matized as foreign industry I And if is that, Sen ators, which you are now called on to tax, by im posing the high duties proposed in this bill on the articles imported in exchange, in order to exclude them, in whole or part, for the supposed benefit of a very minor interest, which chooses to regard itself-as exclusively entitled to your protection and favor... Are you prepared to respond favorably to the call, by Voting for this bill? Waiving the high questions of justice and constitutional power, I propose to examine, in the next place, the mere questioivof expediency; and, for that purpose, the operation of these high protective duties tracing, first, their effects on the manufacturing interest in tended to be benefited; and afterwards on the ex port interest, against which they are directed. . .-.And here let me say, before I enter on th3 part ofmy subject, that I am no enemy to the manufac turing interest. On the contrary, few regard them with' greater 'favor, or placB a higher estimate on their importance, than myself. According to my conception, the great advance made in the arts by mechanical and chemical inventions, and discove ries, in the last three or four generations, has done more for civilization, and the elevation of the hu man race,' than'all other causes combined in the same period. - -With this impression, I behold with pleasure the progress of the arts in every .depart ment, and look to them, mainly, as the great means of bringing about a higher, state of civilization, with all the accompanying blessings,' physical, pd litical, -and moral. It is not to them, nor to the manufacturing interest, I object ; hut" to what I be Jieve to ba the unjust, the unconstitutional, the mis taken and pernicious means of bettering their con dition, by what is called the protective system. In tracing what would be the effects of the high protective duties proposed by the bill, I shall sup pose all the grounds assumed bv its advocates to be true, that the low prices complained of are caused by the imports received in exchange for ex ports; that the imports have, to a great extent, ta ken possession of the market; and lhat the impo. siton of high duties proposed on the imports would exclude them either wholly, or to a great extent: ana mat the market, in consequence, would be re lieved, and be followed by the rise of price desir ed. I assume all to be as stated, because it is the supposition most favorable to those who ask for high duties, and the one on which they rtly to make out their case. It is my wish to treat the subject with the utmost fairness, havinar no other object in view but truth. According-, then, to the supposition, the first lead ing effect of these high protective duties would be to exclude the imported . articles, against which they are asked, either entirely, or to a great extent. If they should fail in that, it is obvious that they would fail in the immediate object desired, and lh.it the whole would be an abortion. What then, I ask, must be the necessary consequence of the ex clusion of the articles against which the protective duties are proposed to be laid ? The answer is clear. The portion of the exports, which would have been exchanged for them, must then return in the unprotected and free articles; and, among the latter, specie, in order to purchase from the manufacturers at home the supplies which, but for the duties, would have been purchased abroad. And what would be the effect of that, but to turn the exchange, artificially, in our favor, as against other countries, and in favor of the manufacturing portion of the country, as against all others ' And what would that be, but an artificial concen tration of the specie of the country in the manu facturing region, accompanied by a corresponding expansion of the currency from that cause, and still more from the discounts of the banks? I next ask, what must be the effects of such expan sion, but that of raising prices there? and what of that, but of rncrcasing the expense of manufactu ring and that continuing till the increased expense hall raise the cost of producing so high, as to be equal to lhat of the imported article, with the addi tion of the duty, when the importations will again commence, and an additional duty be deman ded? This inevitable result wold be accelerated by two causes. The effect of the duly in preventing importation would cause a falling offof the de mand abroad, and a consequent falling off, tempo rarity, of price there. The extent would depend on the extent of the falling off, compared with the general demand for the article, and, of course, would be greater in soriie articles, and less in others. All would be more or less affected ; but none to an extent so great as was insisted on by .the chairman, and other advocates of the system, the other day, in ihe discussion of the duty on cot (-ton-baging, but still sufficient, in most cases, to be sensibly A It I say temporarily; for the great i taws which regulate and f qualize prices would, in (time, cause, in turn, a corresponding falling off in , the producnon ot the article, proportionaJ to the 'falling offof the deman I. . I . tsut anotner and more powerlul cause would be put in operation at home, which would tend still more to shorten the periods between the demand for protection. The stimulus caused by the ex pansion of the currency, and increased demand and prices consequent on the exclusion of the ar ticle from abroad, would tempt numerous adven turers to rush into the business, often without ex perience or capital ; and the increased production, in consequence, thrown into the market, would greatly accelerate the period of renewed distress and 1 embarrassment, and demand for additional protection. r The history of the system fully illustrates the operation of these causes, and the truth of the con clusion drawn from them. Every pntective tar iffthat Congress has ever laid, has disappointed the hopes of its advocates; and has been followed, at short intervals, by a demand for higher duties, as I have shown on a former occasion. The cry h.s been protection after protection: one bot tle after another, and each succeeding one more capacious than the preceding. Repetition but in creases the demand, till the whole terminates in one universal explosion, such as that frorq which the country is now struggling to escape. Such are the effects of the system on the interest in fivor of which these high protective duties are laid; and I shall now proceed to trace them on the great export intertst, against which they are laid. I start at the same point the exclusion, in part or whole, of the importation of the articles against.which they are laid their. very object, as have stated; and which, if not effected, the whole must fail. The necessary consequence of the fal ling off of the imports, must, be, ultimatety, the filling off of the exports. They are mutually dependent on each other. It is admitted that the amount of the exports limits the imports; and that, taking a series of years together, their value, fairly estimated, will be equal, or nearly so; but it is no less certain - that the imports limit, in like manner, the exports. If all imports be prohibit ed, all exports must cease; arid if a given amount of imports only be admitted, the exports must fi nally sink down to the same amount. For like reason, if such high duties be imposed that only a limited amount can be imported with profit, (which is the case in question.) the exports must, in like manner, sink down to the same amount. In this aspect, it is proper lo trace the effect of another and powerful cause, intimately connected with that under consideration. "This falling offof the imports would necessari ly cause a falling offof the demand in the market abroad for exports. The capacity of our custom ers there to buy from us, depends, in a great measure, on their capacity of selling to us. To impair the one, is to impair the other. The joint operation of the two cases would be highly ad verse to the -export industry of the country. If it should-not cause an actual decrease of the exports, it would arrest, or greatly retard, their increase, and with it, the commerce, the navigation, and their associate interests, which explains why these great branches of business were arrested in their growth under the protective tariffs of 1824 and 1828, and received such a mighty impulse from the reduction of duties under the compromise act as shown from the commercial tables, exhibited. on a former occasion during the prespnt session.f But the lors would not be limited to the falling offof the quantity of the exports. There would be a falling off of price, as well as quantity. r The - Mr.'C AtHbtiic's speech oft th assumption tof the debts of the States. - - .. ' t - j fMr. Calhoun's speech on Mr. Clai's resolutions. f ffects of these high protective duties, by prevenf ingJmports, would be, to cause a drain of spcci from abroad, as has been stated, to purchase at xiuiur me Mippnes wnicn before had ber n obtained abroad. This, together with the diminished capa city of our foreign customers to buy, as just ex plained, would tend to cause a fall in the price of the articles expoi ted, which would be more or less considerable on each, according to circum stances. Both causes combined the falling offof quantity and price would proportionably dimin- icii mc uu mis UI LlinSR nirrrilV sinI inrlirorlli? rn. ga ged in the great export business of the coun- try 'T J wnich would be followed bv another end more Powerful Cause of thfir imnnvrKhmml that they WOuld have tn m'ro a hiirKor nri' more money, out of their diminished means'; to purchase thrir supplies, whether imported or manufactured at home, than what they could hare irot them for abroad. Say that the cfiVct would be to increase prices but'2.? ner cent then ifW would have to give cno dollar and twrntvfivo cents, where otherwise, ono dollar would hare been sufficient The joint effects of the whole would be the diminution of means, nnd n rrnirr,. tion of the currency and fall of pricrs in the por tion of the Union where the export interest is pre dominant, and an expansion of the currency, and inciease oi price m that where the mannfacturiiigr interest is. as has been explained. quence would bf to compel the suffering inferrst to resort, in the first place, to cconnmvWl nif. tailment of expenses; and, if the system be con tinued, to the abandonment of pursuits that no lon- rr l .. r LY" cr auuiu remunerating proms. To be concluded next ireek.) COL. RICHARD M. JOHNSON Ihe feelings in favor of this dist nifruishrd Statesman and Soldier, are becoming more arnar ent, and every month that rolls by, de vebpes somf new manifestation of the people in his favor, which convinces us that if the voice of the whole people are respected, and the management of the Nation al Convention taken out of the hands of a few as piring demagogues, he will certainly be the no minated Candidate for the Presidency in 1844. There always are a few whose sole obiect is nrr- sonal aggrandisement, and who have a desire to dictate to the people not only what ticket they shall yote, but what they shall think and say. If our National Convention should be made up of such materials the prospects of Col. Johnson will be poor. But it is now time to go seriously to work : let every voter not only in this State, but in the Union, express the honest convictions of his heart, untrammeled by party leaders or aspirin brawling demagogues, and our word for it, The Hero of the Thames," would be nominated by a large majority, and if once nominated, who would doubt the result? He would in a measure have the course to himself: no party could be organi zed, or any man set forth that would prevent his reaching the Presidential Chair almost by accla mation. His name is as a household word, the people know him ; he has stood by them in ihe dark days of their adversity. When the ven geance of British and Indian foes were desolating our country, Col. Johnson in those trying days proved his devotion to the rights of the people, the best evidence of which is his shattered and scarred frame, the certificates of true patriotism. And it is for this that the people, the sovereigns of the land are wedded to the name of Richard M. John son. His career as a statesman has been no less brilliant than that of a warrior. Are you in fa vor of releasing the poor and unfortunate debtor from prison ? Col. Jhhnson has always been one of their ablest champions. Arc you in favor of re ligious toleration and opposed to the union of Church and State ? Read Col. Johnson's Sunday Mail Report; he has always been the advocate of the liberty of conscience, the liberty of the press, and liberty of speech. He has also been the friend of universal suffrage and advocated its widest extension, and his whole course was when a rej resmtative of the people in the National Congress to legislate for all, and protect all, as united by the ties of one family, for the good and safety of ail. Col. Johrtson is admitted by his political oppo nents, to be honest. When this fact is known tmd admitted, it would be impossible for his administra tion if elected to bring anything else than pros perity to the Nation. Confidence in rulers is ev ery thing in a country, where man is on an equn- uy, ana as eotonel Johnson possesses lhat to an unlimited extent and nt confined to party his administration would be one of unexampled pros perity. We arc pleased to hear lhat the. old veteran has returned to his home at the White Sulphur Spring?, having been on a visit to his brother in Arkansas. and visited several places in Mississippi and Lou isiana by invitation. I he bouihern papers are filled with descriptions of his reception on the dif ferent routes in which he travelled. "The South holds not back." Johnson and Democracy appear to be the motto of the friends of this Hero, who never betrayed the trust reposed in him, and if elected to the station to which his many services justly entitle him. he will never dishonor the el evated seat of a Washington, Jeff -rson, nnd Jack son. Columbia Spy. ' TENNESSEE. A business Letter from Somerville, Tennessee, dated June Cth, 1843, contains the following passage. Kendalls Expositor. " We are here in ihe midsl of the Canvass Whigs drooping disspirited and scattering De mocrats buoyant in high hope and united Ten nessee in August next will roll the ball of victory onward." Ballotings for President are of frequent occur rence on the . Western . waters. Clay in every instance has a very large majority of all the votes.. Nat. Intelligencer. . Whenever Mr. Clay has been a candidate for the Presidency, he-has Decn invariably elected by steamboats and Whig papers. But unfortunately for both himself and party, whenever he comes before the people at the polls he is politically re pudiated, and used up. Importation of American Manufactured CoU ton Goods. In the London public sales declared for next week, there is the unusual import item of 400 bales American manufactured cotton goods, to be sold for home consumption or importation. This is altogether a iiev feature in our trade, nnd not to be overlooked by our manufacturers, as tre understand that several parcels of similar goods are near at hand and will be brought forward in the same manner. . Liverpool paper.
The Weekly Standard (Raleigh, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
July 12, 1843, edition 1
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