the whole trade. Every view we can take of may be nearest at hand, or it may be the best this subject, leads to the same result. The market at which to sell his products. The cheapness of foreign capital and labor would cheapest market for purchase may require enable them not only to drive our laborers payment in specie, while a dearer market may from their workshops, but our ships and ma- receive other commodities in payment. The riners from the ocean. This is the result to cotton manufacturers at the north might pur-2 which the argument before us would lead; chase their cotton in India, as they undoubtfor, if we ought to buy in the cheapest mar-jedly would, to some extent, if the duty on? ket, we ought also to employ the cheapest cotton were taken off; and they might find it carriers. We ought to avail ourselves of the profitable to themselves, especially as they boasted advantages of the cheapness of foreign could buy cheaper, and at the same time open labor, in the latter case, as much as in the to some extent a new market for their fabrics; former. But the friends of free trade will but, as this would injure the home market for probably say that our navigating interest re- the cotton-grower at the South, the injury inquires protection, and that public policy calls flicted upon the planting States would be upon us to support our commercial marine. greater than the benefits obtained by the But why should this interest be protected northern manufacturer. For reasons of State, more than any other? According to the late a preference should be given to domestic cotcensus, there were but 56,000 persons engaged ton. The northern manufacturer who conin navigation, while there were 791,000 en- sumes one hundred bales of cotton grown in gaged in manufactures; and we demand on this country, not only gives employ indirectly what principle the claims of 56,000, employed to those who labor to produce that article, but? on the ocean, are greater than fourteen times he gives employ to those who raise the meat? that number, employed upon the land? The and grain which the laborer consumes while same principles of public policy which call raising the cotton; whereas the manufacturer for the protection of our commercial marine, who consumes one hundred bales of cotton call for the protection of our industry at raised in India, encourages foreign instead of home; the latter being as essential to national domestic industry. In the former case, the independence as the former. profits of the entire business are kept in the Thus we see that the soundness of the po- country; while, in the latter, half of the prosition that we should avail ourselves of the fits accrue to foreigners. The same remarks cheapest market, is admitted by the friends of may be made upon other manufactured artifree trade to fail in time of war, and with refe- cles. He who patronizes domestic manufacrence to our navigating interest. Nor are tures, creates a home market, and so encourthese the only cases in which that principle ages our own industry. The people of Tenwill fail. It is far from being a sound princi- nessee, for example, by wearing American ple in political economy, always to buy at cottons, even if they should cost them a trifle the cheapest market. It is not sound in the more than the foreign fabric, would thereby case before us. Such a policy, if adopted not only promote the interest of the country, here, would turn 850,000 manufacturers and but their own. By patronizing the domestic mariners out of employment; and this would manufacture, they not only prevent a greater inflict an evil upon the country greater than competition in the production of their great all the blessings to be derived from cheap staples, corn and wheat, but, by sustaining purchases. Again-if the foreign market is the manufacturer, they increase the demand the cheapest at the present time, there is no for their own products. The southern plantcertainty that it would continue so. When, er, while growing his cotton, and the northern by their low prices, they have destroyed all manufacturer, while converting it into cloth, our manufactures, and driven our ships from are both living upon the corn and wheat of the ocean, we should be entirely at their mer-Tennessee; or, which is practically the same cy. By the monopoly they would have thus thing, on the corn and wheat of some other? acquired, they could dictate to us such prices State, whose bread-stuff comes in competition as their own interest might suggest. All that with their own. But if they wear the fabrics would be necessary to bring about such a of British looms, made of cotton grown in Instate of things, is to have some two or three dia, they lose all these advantages. The inof the great powers of Europe combine; and terest of the country, and the ultimate interest they could dictate to us on the subject of of the individual there, would be promoted by commercial regulations and prices, as effectu- the purchase of the domestic fabric. If the ally as they did to the Grand Sultan, in rela- first cost were higher, the individual advantion to Greece and Egypt. tages which would result from such a policy It is with a nation as it is with an individu- would more than balance the difference in al-the market where he can buy cheapest is price.

not always the best, even in a pecuniary The idea that we must purchase abroad, point of view. It may be good policy in an rather than manufacture at home, is a danindividual to buy at the dearest market-it gerous one; and whenever it has been gene

rally adopted by a people, their home indus- come dear, for the plainest of all reasons, that try, and consequently their prosperity, de- we should have nothing comparatively to purclines. There may be articles not adapted to chase with.

44

55

64

64

our climate-such as tea, the spices, &c. The protective system is as important to which we must purchase abroad; and in such the agriculturist as the manufacturer. Though cases it is desirable that we raise some other the enemies of this system have represented it? article which we can exchange for them. But as hostile to the farmer, I am fully persuaded? when we can produce the articles which we that this is a great mistake. In the first place, need, in our own country, and this exchange agricultural products enjoy as high a proteccan be carried on between different sections tion as manufactures, to say the least. I will of the United States, where the business can-give a few articles as a specimen, and will renot be disturbed by foreign legislation, it is solve the duty into an ad valorem rate, foundthe dictate of wisdom and of prudence to seeked on the price current at Boston, six months. supplies at home, and thus be independent of after the present tariff went into operation. foreign nations. If we adopt the policy of Cotton, duty 3 cents per lb.....equal to 40 per ct. ad val. procuring every thing abroad, because it can Wool, 30 per ct. and 3 cts. per lb. be obtained cheaper, we shall in a short time Beef, 2 cents per lb... Pork, 2 cents per lb.. find our industry paralyzed, and our re- Ham and bacon, 3 cents per lb. sources so reduced, that even cheap articles Cheese, 9 cents per lb... will be beyond our reach. Ask the industri- Butter, 5 cents per lb... Lard, 3 cents per lb.. ous mechanics and the hard-working farmers Potatoes, 9 cents per bushel, in the interior-those whose means are limit- Flour, $1 25 per barrel,. ed, and who are compelled to husband their Wheat, 25 cents per bushel,. resources-and they will tell you the advan- Here we have a list of eleven articles of tages of exchanging the products of their la- agricultural products, and they average 54 bor for the articles they purchase" of get- per cent. protection-a rate much higher than ting things in their own line, without paying is enjoyed by manufactured articles. Neither money," as the phrase is. This homely ex- have we, in this estimate, adopted the doctrine pression embodies more true political econo- of anti-Tariff men, and supposed that the duty my than the more elegant one, "of purchas- increased the price to the amount of the duty. ing in the cheapest market." If the farmers If we had adopted that mode of estimating who cultivate the rugged soil of New-England prices, we should have swelled the per cent. should neglect to raise their own bread-stuff of protection much higher. I know it is said? and pork, because these articles could be pro- that these duties are unavailing, as these artiduced cheaper at the west, they would soon cles need no protection; but this is a great? find that, cheap as western grain and pork mistake. These articles have been imported were, they would not have the means of pur- into the country, on an average, for the last chasing them. And the same is true of the five years, to the amount of nearly $2,000,000 country. If we employ foreign manufactu- annually.

rers and carriers, and turn 850,000 of our own There is an identity of interest between the out of their present employ, they will seek manufacturer and the agriculturist. They employment in agriculture; and instead of are not enemies, nor even rivals, but intimate being 850,000 consumers of agricultural pro-friends. Viewed on a large and liberal scale, ducts, as at present, they would become 850,- manufactures and agriculture are only differ000 producers-making a difference of 1,700,- ent departments of the same great system of 000; a number equal to more than one-third national industry; and whatever tends to give of all employed in agriculture at the present prosperity to the one, will give prosperity to time. The effect of this upon the agriculture the other. They both need the fostering care of the country must be obvious. The pro- of the Government. The case of wool and ducts of the soil, which are now so abundant woollens is an example in point. The woolthat they would be almost valueless were it growing interest has become an important not for the market found in manufacturing one, and is more widely diffused over the districts, would become more abundant. And whole country than almost any other. The where would they be disposed of? Not in annual product may safely be estimated at the domestic market, for that would be in a $16,000,000. Withdraw protection from wool, great measure destroyed; not in a foreign and this great interest would languish-withmarket, for the policy of other nations ex-draw protection from the woollen manufaccludes them. With this increased produc-tures, and the influx of foreign woollens would tion, and loss of the home market, agricul-destroy the wool-growing interest. This exture, that parent calling, which employs more ample illustrates the immediate connexion? of our people than all others put together, there is between agriculture and manufacwould receive a severe blow. Wages would tures. We have already seen that the de-? fall, industry would be paralyzed; and foreign struction of manufactures would drive those? fabrics would, to all practical purposes, be- now engaged in that business into agricul

ture; and by the loss of the home market, [factures, and that they will want a barrel of and by the increased competition in agricul-flour each; and he knows that the crops on ture, the prices of the products of the former the eastern continent will have little or no would decline to a ruinous extent. connexion with the demand here. Under The farmer has as direct an interest in the these circumstances, he knows, with a good protective policy as the manufacturer. In degree of certainty, how much to sow; and, the first place, he enjoys as much protection being sure of a market, his industry will reupon his products as the manufacturer does double, and he will realize a greater profit upon his fabrics. But the great advantage to from his labor. Every practical man knows the farmer arises from the home market which that much depends upon the certainty of a manufactures create. The great importance market; and, from this glance at the subject, of a market is too often overlooked. How is it must be seen, at once, that the home marit that wheat is worth $1 20 in one part of the ket is more sure than the foreign. But this country, and 12 cents in another? That an difference between the foreign and home maracre of land will, for agricultural purposes, ket would be still greater in time of war. In sell for $300 in one place, and for but $2 in case of hostilities with a great maritime powanother? Every man knows that this is the er, like Great Britain, whether our commerce fact; and why is it so? Simply because the were with her or with any other foreign_naone is near a market, and the other remote. tion, it would be in a great degree cut off, so I hesitate not to say that the capital now in- that the foreign market would fail. These vested in manufactures has augmented the considerations show conclusively that the value of real estate in the country to an home market must, after all, be the farmer's amount vastly greater than the whole sum in- chief dependence-his best market in peace, vested in manufactures. The value of the and his only reliance in war. home market, created in a great degree by From the view we have taken of this submanufactures, will be seen by the fact that ject, I trust it will appear that the farmers Massachusetts alone consumes as much of have as deep an interest in the protective systhe beef, pork, ham and lard of her sister tem as the manufacturers; and that the hardy States, as the whole amount that is exported tillers of the soil, who did so much to obtain to all foreign nations; and that she consumes our independence, will be the last to abandon a larger amount of the flour and grain of other a policy which preserves us a free people. States, than the average which has been ex- But it is said that protection is injurious to ported to England and her provinces for the commerce. No objection can be more fallalast six years. Take the whole country, and cious than this. We have already seen that the amount of agricultural products consumed our commerce drew its first breath in the pro-2 by manufacturers is infinitely greater than the tective system, and that its last respiration is amount sent abroad. to be ascribed to the same policy. And it is Compared with the foreign, the home mar-a strange position, that the very policy which ket is the most valuable, in every respect. A first created, and still sustains commerce, is market in a manufacturing district, at home, injurious to it. But if it be said that the prois always more sure than any foreign market. tection which is extended to manufactures inThe demand is constant, and may always be jures commerce, we reply that, according to relied upon; whereas the foreign market is the late census, there are 791,000 persons enalways uncertain. Suppose that one of the gaged in manufactures, while there are but western States had 100,000 barrels of flour to 117,000 engaged in commerce; and we know dispose of annually, and they looked to Great of no good reason why the many should be Britain for a market. That market would sacrificed to the few-why the interests of depend upon the crops in Europe. When the 800,000 should not be regarded as well as the crop was good upon the continent, England interests of 117,000. But is the protection would take but 50,000 barrels; and when the afforded to manufactures injurious to comcrop was short, she would want 150,000 bar-merce? We think not. Our imports will be rels. Though her annual demand would according to our ability to purchase, and our amount to 100,000 barrels, on an average, yet exports according to what we produce; and it would fluctuate from 50,000 to 150,000.- as the protective system stimulates our indusUnder these circnmstances, the farmer could try, and so increases our productions and make no calculations how much wheat to ability to purchase, it will benefit rather than sow. This uncertainty, depending upon con- injure commerce. That general prosperity, tingencies which he could not possibly fore-which protection is calculated to produce, is see, would hang like an incubus upon him, the life of commercial enterprise; and whatand paralyze his efforts. But let the same ever drives the plow or the machinery tends, State depend upon the home market created at the same time, to spread the sail. This by manufactures, and the farmer can calcu-consideration is of itself a sufficient reply to late with great certainty. He knows that the objection that protection is detrimental to there are 100,000 persons employed in manu-lcommerce. But there are other considera

tions which show the weakness of this objec-ply will raise the price of the whole commotion. Many of the articles consumed in ma-dity in the market far above the value of the nufactures are brought from abroad; and as deficit; and, on the other hand, a surplus, the raw materials are more bulky and heavy though small, will reduce the price of the than the manufactured articles, more shipping whole commodity in the market far beyond is employed in supplying the raw materials the value of the surplus. A surplus of $10,than would be necessary to supply the article 000 will frequently produce an aggregate remanufactured. This principle is illustrated duction of the whole quantity of the commoin the case of refined sugar. Without pro-dity in the market, to the amount of $50,000. tective duties, a large portion of our sugar This principle is so important to a right unwould be imported in its refined state; but derstanding of this part of the subject, that I the duty of six cents per pound upon refined trust I shall be pardoned by the reader if I sugar, induces the sugar-refiners to import attempt a more full illustration. We will the brown sugar, which they manufacture into suppose that there are ten shops in a village, loaf. Now it must be manifest that more owned by as many individuals, and that $100 shipping is employed in bringing to our refi- per quarter is a fair rent for each of them; ners the raw sugar, than would be requisite but the number of traders wishing to occupy to bring the lesser quantity of the refined, to these shops is but nine, thereby leaving a sursupply the wants of the people. Our manu- plus of one shop. Now what will be the pracfactures, by increasing the business connexion tical result of this state of things? Nine shops? between different portions of the country, in-will be occupied, and one will be vacant. crease the coasting trade and the internal The owner of the vacant shop, seeing all his commerce. Add to this the amount of manu-neighbors enjoying an income of $100 per? factured products which are shipped to foreign quarter, while he receives nothing, offers his countries, and I think it will appear that our shop for $90, on the wise principle that he commerce is not injured by stimulating the had better take that sum than nothing. This industry and developing the resources of the offer induces one of the traders, who is paying? country. The manufactured articles, the fruit $100, to quit the shop he occupies, and to of protection, which are sent to every part of take the one he can have for $90. This the world, amounted the last year to about change leaves another shop empty, and this $11,000,000-being more than one-tenth of induces its owner to put that at $90 per quarour entire export of domestic productions.-ter. This induces another to remove, and The advantages resulting to our commerce take a shop at $90; and so they will go from this source must be manifest. On many through with each shop, till all are brought of these articles, our shipping have a double down to $90. Here has been a reduction of employment. The refined sugar to which we $10 on each shop, making an aggregate of have referred is an instance in point. We $100, being just equal to the value of the surhave already said that more shipping is re- plus. And how stands the matter now?quired to import the raw sugar than would be Why, there is one empty shop, as at the berequisite to bring in the refined sugar which ginning; and the same process of reduction we consume. But this is not all-the brown will go on, till the price is brought down so sugar imported is, after it is manufactured low as to induce some person to embark in into the loaf, exported to the amount of nearly trade, who, under other circumstances, would a million and a half of dollars annually. not think of engaging in this kind of business. Thus do our manufactures give life and ener- This principle, which every practical man gy to our commerce; and hence the protective will readily acknowledge, enters largely into system, which fosters the one, cannot be de- our commerce, both foreign and domestic, trimental to the other. and has an all-important bearing upon prices. But the great objection to the protective Keeping this principle in view, let us inquire system is, that it enhances the price of all ar- into the effect of a Tariff upon prices. Supticles to the amount of the duty, and so im- pose an article now paying 20 per cent. be poses a heavy tax upon the consumers. This subjected to a duty of 20 per cent. more. Ac-S objection, specious as it is, is far from holding cording to the free trade theory, the price will good to the extent that is pretended. That it rise 20 per cent. in our market. But, in fact, is not true in all cases, appears from the fact this will not be the case. The American that many articles, as coarse cottons, nails, merchant, who has been in the habit of taking &c. have been selling for years at a price less this article of an English house to the amount than the duty. We admit that duties, self- of $2,000, writes to his correspondent in Great considered, have a tendency to increase prices Britain that, in consideration of the increase for the time being; but to what extent, and of duty, and consequently the diminished sale for what length of time, must depend upon which he anticipates, he can now take but many considerations. Prices depend mainly $1,000 worth of the article, unless the manuupon supply and demand. It will also be facturer will reduce his price. The British found true, that a small deficiency in the sup-manufacturer, knowing full well that if $1,000

worth of this fabric be thrown into his home cessity, which is the mother of invention, demarket, it will reduce the price, and lessen manded the employment of labor-saving mathe value of his whole stock on hand, imme-chines. It is to protection that we owe comdiately reduces his price, and so supplies his petition, and to competition we owe those imold customer with the usual quantity of the provements in machinery, which have contriarticle. The amount of reduction will depend buted to reduce prices. So that, after all, this upon the state of the market-sometimes it reduction is to be ascribed to protection, to will be more, and sometimes it will be less. the industry which it stimulates, and to the The average, perhaps, would be one-half of genius which it excites.

the increased duty. The foreign manufactu- The remarks which have been offered upon rer paying one-half of the additional duty, the prices, brief as they are, are deemed sufficient actual duty paid by the importer would be 30 to show that no objection can be made to the per cent. instead of 40. This would raise the protective system on the ground of its raising price in our market only 10 per cent. But, the price of the fabrics protected. In some as the increased duty would protect our ma-instances, it will not raise the price at all—in nufacturers, they would embark with Yankee others, only for a short period; and if, in other zeal in this species of manufacture. This cases, it does produce a permanent increase? would produce competition at home, and the of price, that is more than compensated for in increased quantity of the article thrown into the stimulus which this system gives to indusour market would have a tendency to produce try, in the home market which it creates, and a surplus, and this would serve to keep down in the general prosperity which it produces. the price. Here would be a double competi- There are some species of manufactures tion-a competition between the foreign and which give employment to women and chilthe domestic manufacturers, and a competi-dren, whereby they are enabled to support? tion between the domestic manufacturers themselves, when, without this employ, they) themselves. The natural tendency of this would be a public charge. Every considerawould be to reduce the price. Its operation tion of this sort is to be taken into the acwould be more or less sudden, according to count, in estimating the profit and loss of the the character of the manufacture. If it were system we advocate. Suppose that the sysa costly kind of manufacture, or one which tem which we advocate does increase the required great skill, it would take longer to price of a few articles, so that the poor man bring about this reduction. But if the manu- has to pay some five or six dollars in a year facture were of such a nature as to require but more than it would otherwise cost him; this little capital or little experience, the competi-policy, by increasing business, creates a detion, and consequent reduction, would be mand for his labor, and enables him to earn more immediate. After making all due al-jone or two dollars per month more than he lowances for fluctuations, from various cau- could otherwise carn. Instead of suffering, ses, we lay it down as a principle which will he is actually a gainer by this system. hold good, that where duties are judiciously But, in answer to our reasoning above, it? laid upon articles, the manufacture of which may be said that if protective duties do not is suited to our condition, the tendency is ul- increase prices, they afford no protection to timately to reduce, rather than increase the the manufacturer. By recurring to what we price. To this, of course, there are excep- have said, it will be seen that we do not take tions; but the case of coarse cottons, and the ground that protective duties do not, in many articles of hardware, clearly show the any case, increase the price of the article in truth of our position. our market. Our position is this: that a pro-2

Let any man compare the prices now with tective duty, laid upon articles which we cen what they were twenty years ago, and he will manufacture with propriety in this country, see that there has been a great reduction in would not ultimately increase the price, but the price of almost every manufactured arti- would frequently reduce it. If the duty be cle. But this statement is met by saying that laid upon articles which we do not manufac competition has produced labor-saving ma-ture, or cannot manufacture or grow with chines, and the great improvements in ma- propriety, the tendency would be to increase chinery have had the effect to reduce the the price; though, even in such a case, the prices of manufactured articles. We admit price is rarely increased to the amount of this, to its fullest extent. But what has the duty. But a duty, in a given case, may caused this improvement in machinery ?-protect the manufacturer, and at the same Protection created a competition, and compe- time produce an ultimate reduction in the tition has been the efficient cause of these im- price of that article. I will illustrate this provements. That inventive power which has principle by a familiar case. been exerted in perfecting machinery, would An article, now free of duty, is selling in have slumbered for ages to come, as it has for our market for $1 20. The elements which ages past, had not manufactures been prose- make up this price are these: cost in foreign cuted under such brisk competition, that ne-market, $1; cost of importation, 10 cts.; im