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THE PRESENT STATE OF TRADE.
By the kindness of the publishers of , down is, that of the agriculturalists, that that valuable and widely-read paper, “The as for the increase of the riches of a farm, Plough, the Loom, and the Anvil,” which the products of the soil should be consumed has done so much toward diffusing right upon the soil
, so also the products of information and just opinion, on subjects mines, and plantations, should be worked of public economy during the past year, up and consumed as near as possible to we have been favored with proof-sheets in the place of their production. advance, of an article entitled, “Hear both We venture to say, that any man of sides," from the pen of Henry C. Carey, business, or any person who has a pracEsq., one of our own contributors, and ticle knowledge of the economy of prowhose work, entitled “Past, Present, and duction will acquiese in the principle at Future," seems destined to become the first hearing of it. text-book of conservative and patriotic The arguments of the anti-protectionists, economists. Our readers will remember on the contrary, are derived from certain an able article published in our number abstract propositions, such as the injustice for January, 1849, on the policy of Eng- of taxing one class of the community for land and its results, from the same power- the benefit of another ; which are indeed ful
pen. The following bears more direct- true in the abstract, but have no bearing ly upon our own affairs. We give the
We give the on the question ; the protectionists holding matter of the article by abstract or by the same opinions about justice and injusquotation.
tice that other men do, but insisting that The occasion of the essay was an ex the nation must defend itself against the amination of the question, whether the efforts of foreigners to draw away its farmer and planter are to be protected or business and suppress its industry. not, in their efforts to draw the loom and To this the reply is, true it is, the the anvil nearer to themselves; or whether, farmer is made to pay a little more, for the as the Union newspaper, and the so-called time, by a tariff, for foreign luxuries; but, free-trade legislators contend, they should at the same time he is enabled to produce not be protected, but for the sake of “an more, and his products command a better augmented trade," should go without pro- price. tection.
And here begins the argument of the The general effort of the free-trade article which we are now reviewing. theorist has been to prove that low tariffs The writer for the Union newspaper, cause a greater consumption of foreign June, 1849, advanced that the free-trade goods, by affording an outlet for the pro- principles of the Revenue Bill of 1846 are ducts of farms and plantations, to be ex- fully vindicated, by the fact, “ that the changed for foreign manufactured articles. export of breadstuffs still continues, and
They argue strenuously for freedom of that the demand for cotton is sustained at trade in the abstract, as a thing so excel an advanced price, and in the face of large lent in itself, that everything else should supplies.” “While the market for our be sacrificed to it. Just as some enthusiasts agricultural productions abroad has been argue for the abolition of all laws, because extended without producing commercial all laws work some injury to innocent in- embarrassment, by the reception of foreign dividuals.
goods, on liberal terms, in payment, the Mr. Carey, in his large work, as well as great consuming interests of the country in his periodical essays, adopts a line of have been enabled to become better cusargument quite different from any that we tomers to the manufacturers.” have seen in any other writers.
We cannot but pause here and invite The principle of economy which he lays the readers attention to the language of
the Union above given. It is asserted
says that the exporis of cotthat the great consuming interests, that is ton goods from New England were fifty to say, the skin and stomach of every millions yards, re-exports of foreign, ten man, woman and child in the country, are millions. Southern and Western consumpenabled to buy more from our Northern tion of Eastern manufactured goods, manufacturers, in consequence of a tariff 535,200,000 yards. Again, 7 millions of which has let in foreign competitors on foreign cotton goods were introduced for liberal terms. It appears, too, that our home consumption, and the estimated 120 free trade gentlemen have the interests of millions of Southern and Western manuthe Northern manufacturers greatly at factures, had to contend against these, and heart; a disposition to be acknowledged against the entire Eastern production. in them, with every courtesy.
The article closes by stating that the But to return. The correspondent selling of large quantities of goods at low adds, that the revenue under these low prices is advantageous to the operatives, duties, has increased some $6,000,000; and that small quantities at high prices
“unfavorable balance of trade,' favor the capitalists; an assertion to which has been "prevented by an increased ex we can only give a flat denial, it being a port,” that is to say, we have paid in cot- notorious fact that low prices entail the ton and breadstuffs, instead of cash; he necessity of low wages, large capitals, and then adds that the generally firm and immense sales, all of which conditions are comfortable state of things has enabled those of the English manufactories, and
our manufacturers to enlarge their es- work a hopeless and disastrous state of tablishments, and to extend their opera- things for the operatives. High prices tions ;” more cotton having been pur- and moderate sales enable small capitalists chased by them in proportion under the to engage; and vice versa. present, than under the last tariff. In The same correspondent of the Union crease under the tariff of '42, 154,747 and writer for the Democratic, states that bales in four years; under the present the demand for cotton is “maintained at tariff, 130,000 in three years.
an advanced price, and in the face of large This estimate, he continues, omits supplies." I'o this Mr. Carey replies, 75,000 for the last, and 100,000 for the that the destructive frosts and freshets of present year, consumed by Southern man the present year have diminished the proufacturers. He then adds, that when spective crop, perhaps one third, and the manufactures are high, the consumption price has consequently risen a little
. is limited, and the owners of capital and That the planter has hardly received five machinery, (the larger operators) reap cents the pound, average, the past season; the benefit, and vice versa. The corres and that consequently a great rise is de. pondent of the Union is evidently the manded to cover his losses from the past same who prepares free trade commercial sales, which have not covered the costs of articles for the Democratic Review; in production. To this must be added the answering the Union, therefore, the Demo- reduction of freights, almost two thirds, cratic Review is also answered.
within a few months, a reduction facilitaHe furnishes a table of cotton statistics, ting exportation, and of course sending showing the regular increase of consump more cotton abroad, and raising the price. tion, the largest being in 1848, 103,805 A barrel of flour can now be carried to bales; and the finallest increase 20,000 Liverpool for 25 cents, and the price is bales in ten months, ending June '49, still falling. which shows a frightful falling off, by no We shall confine ourselves for the remeans noticed by the Union.
mainder of this article to a summary
of Let us use the statistics given. From Mr. Carey's argument. '42 to '45 inclusive, there was a regular The policy of free trade has driven the increase ; that of '45 being 42,262. From South into excessive production of cotton, '45 to '47 inclusive, a regular falling off, which has made prices unremunerative. that of '47 being only 5,000! Then fol The planters are seeking to substitute lows a sudden and enormous increase in sugar in its place, and the sugar planters 248, of 103,805, and a great falling off | need protection more than the manufacagain this present year.
The same policy has shut up furnaces to us, and still further depress our farand mills in all parts of New England, and driven capital into the building of ships ; The free trade principles of the comproand now low freights, and low prices gener- mise bill “ vindicated” by the crash of ally make all equally unprofitable. 1841-2, again being “vindicated" by a
The total earnings of shipping, notwith similar state of things coming fast upon us. standing the great increase, and the California accident, are less than for many " The great difficulty with most of these years past.
professional political economists is, that they The cotton crop of the South is only a have no practical knowledge. They have little larger than in 1840, notwithstanding they have by slow degrees arrived at the point
studied so many politico-economical books, that the great increase of Southern population ;
at which all men of real “common sense the money product of the entire crop is far
gin, i. e. that all trade ought to be free. The less than in that year.
latter see, however, that the great and importHad the South adopted the true eco ant trade is between man and his neighbor nomical policy of bringing the plough, the man, and that the small trade is that between loom and the anvil side by side, of caus
far distant men. They see that everywhere ing the products of the soil to be wrought men desire to have blacksmiths and shoe
makers, cotton and woolen-cloth makers, and up and consumed upon the soil, the home iron makers, in their neighborhood, and that consumption would have been double of
the more nearly they can be brought to them what it is, and the vast increase of popula the greater is the facility of obtaining shoes for tion would have had an equal increase of horses and men, and cloth and iron. They see wealth.
this desire developing itself on all occasions in If 200,000 more bales of cotton are now a constant effort to bring the loom and the consumed at home, and with a small pro- almost perpetual ruin following the effort, be
anvil to the side of the plough, and they see spective crop, the price of cotton ought, cause of changes of policy abroad, that could under a just protection, to have risen not have been anticipated, still less guarded enormously ; but the rise is at present against. Seeing all this, they have arrived at very trifling, notwithstanding all that has the conciusion that there must exist disturbing conspired to produce a rise.
causes preventing the possibility of the estabOf sixteen rolling mills for the manu
lislıment of universal freedom, but that it may facture of railroad iron, only four are now
be obtained through the means of effectual pro
tection to the great and really important trade busy, and these to complete orders given
between men and their neighbor men; and they before the tariff of 1846 came into opera are confirmed in that belief by the fact that tion. A great many furnaces and factories those manufacturers which have most required in the North are stopped.
protection are now those which least require Among the smaller manufacturers a it. They see that in the desire for freeing the great depression exists, in consequence of country from the colonial system which preinability among the mass of population to be found the most important of the causes of
vented the establishment of manufactures, may consume the usual amount; low wages,
our Revolution, and that from that time to the low interests, low prices, capital and labor present, the most eminent men-our Washalike unemployed, is the present condition ingtons and Jeffersons, and Jacksons—have
seen and felt the necessity for bringing the Our exports to a large extent are stocks ! manufacturer to take his place by the side of eridences of debt, to the amount of nine the agriculturist.' 'In place of feeding the millions or more!
pa upers of Europe,' said President Jackson, Cloth and iron we are importing in large
. let us feed our own,' — yet he was fully
aware that under natural circumstances free. quantities; the food and products of other
dom of trade among all men, the near and the agricultural countries, wrought up on distant, would be the most profitable of all. other soils, and paid for in evidences of He, however, had practical knowledge, of debt!
which these men are totally destitute. They The people idle, and foreign paupers
are political economists to the point of repeatand laborers working for us.
ing, parrot-like, the words 'free-trade,' but beFarmers and workmen out of employ
yond that their knowledge does not extend."
Plough, Loom and Anvil. ment, go to the West, to raise more food; and capital goes into railroads to bring it “ Among the blunders of this class of men
is that which results from the omission of all , almost altogether inoperative. The great railattention to that most important element in road speculation of Europe had produced a every politico-economical calculation, called vast demand for laborers and for iron, and time. At the end of the first month of his new both were high in price. Well-paid laborers tariff, the late Secretary set himself to calcu consumed largely of food and cloth, while the lating its effects, whereas every man of any potato-rot produced a vast demand for food for practical knowledge knows well that consider- Ireland, and thus all things were unnaturally able time must elapse before the effects of any high, and as the new tariff was altogether an such measure begin to be felt. Prosperity ad valorum one, it followed that duties were does not come or go with the passage of a law, high, and sufficiently protective. The railroad but with its practical operation. The passage i speculation broke down, and the demand for of the tariff of 1842 did not remedy the diffi- labor ceased, and therewith there was a ces. culties under which the country labored, but sation of the demand for cloth and iron, and it enabled men to construct mills and furnaces, the makers of cloih and iron were forced to by aid of which a state of prosperity was re work at diminished wages, and the prices of stored. The man who is driven from the cloth and iron fell, and then for the first time, mines to seek the West, continues for a year at the close of about a year and a half from the to be a consumer of food and a customer
first of December, 1846, did the tariff of 1846 (though on a smaller scale than he before had come into practical operation.” – Plough, been) to the farmer, but in the second year he Loom, and Anvil. ceases to be a customer and begins to be a rival. The hundred thousand people that have been driven to the West, this year will not be
So far our author, without inquiry as to felt as producers until next year, and then the correctness of the statistics given by and scarcely till then—it will be that the farm- | the correspondent of the Union. We reers of the Union will feel the evil effects of serve for a succeeding number a farther the abolition of the tariff of 1842. All these examination of the article, and a fuller de. things are obvious to men of plain common
velopment of our author's argument to sense, but they have studied few politico-eco- show that the cotton planters have been nomical books, and they have no theories to greatly injured, and by no means benemaintain in opposition to the common sense of itted by the actions of low tariffs. the nation for a hundred years past. They feel under no obligation to teach their neigh The greatest physical prosperity of this bors that they have been talking prose all their country will have been attained, when the lives, nor to lisp free trade without understand entire wants of its people are supplied by ing it, as do so many of the great men of our
their own industry. When in every State or day. The existing tariff—the great measure that separate region of the Union, there shall
be manufactures established suitable to was to einancipate labor and capital from the grinding oppression of 1842—the measure that
that region, and fully equal to the supply was to raise wages, and that has so far de- of its wants; and when the joint surplus pressed them that laborers find increased dif- products of all shall be poured through ficulty in obtaining food, fuel, or clothing, the great channels of commerce, the prothe measure that was to raise the value of jected Pacific Railroad, and the ports of capital, and that has so far depressed it that men gladly purchase stocks yielding little more habitable globe.
the Atlantic, toward every part of the
Such a condition of than five per cent., because of the impossibility of employing capital to advantage ; that great things can be brought about only by the measure, we say, went into operation nomi- pursuit of that system of policy which nally in December, 1846. Practically, it was was established by the Republican party.
ANDERPORT RECORDS-NO. I.
REGINALD, SON OF ANTHONY.
semblage of almost forsaken dwellings.
Abundant signs of poverty are visible, but At the head of tide-water on Ga- they are not found in the usual abodes of vin Run, a considerable creek which rural wretchedness, tottering, low-browed five miles lower enters one of the finest hovels. All is brick-brick. Man seems of our southern rivers, stands Ander- here to have put forth his strength at the port. Besides its age, many considera- start, and done his best ; but at the same tions make it deserving of note. Its found- instant that we perceive this, we perceive ers, less restricted in means than most also that his labor has been vanity. of the early colonists, erected its buildings One has no occasion to go to Tadmor, in a manner so lavish of material, and so nor to Baalbek, to experience the painful substantial and massive, that a modern pleasure of watching how desperately the builder would call them proof against the poor relics of human toil and skill may wear of time. The town, however, has struggle for existence with an engulfing had to resist a destroyer which its first desert. If Anderport present the scene settlers did not anticipate, nor could have less grandly than the ruined cities of the guarded against—that ravager, at once in East, it has one element of impressiveness sidious and ruthless-neglect.
which they lack. This dingy little town, Tall brick houses frown grimly upon with its air of antiquity, its dilapidated grass-grown streets, which were laid out roofs and crumbling walls, is not found for the leading thoroughfares of an enter in the Old World, where sights of decay prising and populous mart. The traveller, are to be expected, but in flourishing viwho in a score of miles has not passed gorous, lusty America. There is somehalf that number of habitations, rubs his thing striking, too, in its diminutive size, eyes to find himself suddenly in what we cannot come upon it without being reseems the heart of a city. Yet, wearied minded of one of those pitiable dwarfs as he is with the wilderness through who carry the heavy weather-beaten feawhich his journey has led him, his mind tures of full-grown manhood upon the meets little relief in the unlooked-for ter- small and feeble limbs of a child. mination. Indeed, nothing in the sur The decline of Anderport is easily acrounding prospect, cheerless though it be counted for. At the time of its settle--not the hills covered with hen-grass, ment, and for some years afterward, Gavin that ashen garb of sterility; nor the Run was navigable to vessels of several scrubby clusters of old field pines, creep- hundred tons burden. Now, it hardly afing upon the dispirited husbandınan; nor fords unobstructed passage at low tide for the wide, unenclosed forests, plundered of the fisherman's skiff
. Concurrent causes their younger growth and retaining only might be enumerated, such as the characthe huge patriarchs, which may defy the ter of the population, and the existence axe, but are sinking helpless beneath the of more fortunate rivals ; but I am not reiterated strokes of the elements; nor writing a history. The intelligence of even that sluggish, dismal stream, spread those who gave it its name, is vindicated over a reedy marsh, and bordered by by the statement that it was once a port; moors of broom-sedge and dense thickets and its present condition is sufficiently deof alder and brambles-not all together scribed, when the fact is added that it is can give the beholders such an intense a port no longer. feeling of desolation, as that gloomy as Most of the houses, as has been menVOL. IV.