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H. OF R.]
(MAY 10, 1830
these halls, bear its voice exhorting to reunion, and cheer., importation of English cloths into the United States, at the ing to associated effort ? Is it not drowned in the angry port of New York. These men seem to have organized roar of that torrent of malediction, which, for so many and carried into operation a system of smuggling, ruinous days, bas been poured down from the stormy South on to the revenue, and, in its effects, destructive of that great the devoted region of New England ? Wbere, sir, is the branch of national industry and production. This smug. spirit of the revolution ? Does it still live in our country i gling is not of ordinary character, and such as is transactSir, it did not expire with Lowodes; it did not, when de- ed in Europe. It is not between nations, divided by a line serted by bis associate, abandon bis lovely land of the sun. of frontier, like Austria and Prussia ; or by a river, as GerMen still live in that patriotic region, who make no com- mapy and France; or by a narrow sea, as France and Eng. promise on questions of liberty and independence, and who land. The immense peril of this trade, practised under will never barter either, with any nation, for the poor pri- such hazard of detection, does, in a great degree, secure vilege of selling their cotton at a better bargain.
fair and legitimate commerce.
Against this new and biDuring our revolution, Britain was deeply skilled in the therto unpractised smuggling, there is no such protection, trade and mystery of treason; and could, at any time, ex: It is transacted, through the custom-boyse, by frauds and bibit invoice accounts of all the goods and wares, and perjuries, fabricated in England, and imported and put into prices current of each item of treachery. Among these use in this country. The custom-bouse of New York bas might be found court favors, humble offices, minor titles, been opened to this wickedness; a passage is paved through and free pardons. The wbigs of those times were poor it. In the language of the gentleman from Massachusetta
, customers, and never would consent to sell their country (Mr. Davis) it is a great railroad for smuggling. Is there for any toys of English aristocracy. What do these trans- pot in this country independence, nationality, spirit, madatlantic dealers offer us now! Free trade; a commodity hood enough, to abate this nuisance, or remove it back to out of fashion, and without a market in all Europe; and, the nation whence it was imported ? in addition to this, I know not what commodity of small The amendment, sir, offered by the member from South wares; the cast-off clothes of royal perogative, not fitted Carolina [Mr. McDuffie) admits the allegations made in to the uncourtly limbs of American citizens. Will ope support of this bill, but proposes a new and bitherto wAmerican furnish his wardrobe from the shops of such beard-of remedy; not by sucreased regulation; not by fashioners ! And for what? That his name may be writ- more officers of inspection and appraisal ; not by higher teu in English court calendars with Sir before it, and in all integrity or more unwearied vigilance; pot by beavier or other books with traitor after it ?
more certain penalties. It proposes to abolish the law, and Men differ in opinions now, as they have in all times thereby prevent the violation of it; because,“ where there differed in political opinions. Many honest and patriotic is no law, there can be po transgression."
Dissolve the men questioned and opposed the growing independence of bands of allegiance, and you take away the crime of treathe colonies ; many honest men opposed the revolution, son. Enact " thou mayest kill, and bomicide is no longer and sacrificed every thing to loyalty; and many honest murder. Repeal the whole decalogue, and moral evil will men now most sincerely believe the American syetem to be excluded from the world." be hostile to the true interests of these United States. The amendment proposes to abolish the American sysDifferent from all these are those who look on their coun- tem, This is to be done, because that system, although try as made for them, not they for their country. Sir, tbe beneficial to the majority, is detrimental to the minority of demagogues of those and of these times, like the dema- the nation. The amendment is intended to reverse this gogues of all times, regarding political power as the great order of things. The free trade system proposed by the est of all possible good, are always ready to sell all in ex- amendment, is to be beneficial to the minority, but do change for this. To such meu explanation is useless— trimental to the majority. On this ground the whole arargument unavailing. To men of other minds, and very gument of the member from South Carolina has been sus. diverse in hope and in purpose, the measure now before tained. On this ground the repeal has been demanded. I us has been presented for consideration. Its nature and this be a good cause of repeal in this case, it must be good purpose need very little explanation. The bill offered by in all other cases. All minorities may allege this against the gentleman from Vermont, (Mr. Mallary) provides all majorities. for the more effectual execution of the revenue laws of A minority may be one less than half, and a majority the country. Those laws form a system which, in the first may be one less than the whole.
According to the place, supplies the revenue on which depends every part present argument, if one man of our twelve millions of of the public service; their next effect is encouragement people can complain thạt a law, highly beneficial to elever of domestic industry, in all those arts of production which million pine hundred and ninety-nine thousand nine bunare not now perfectly established ; and, last of all, they are dred and ninety-nine persons, is detrimental to him, be may designed to furnish protection to all such employments as demand a repeal; and, if refused by such majority, he may, may already supply the national consumption, but are now in the language of the member from South Carolina, de unable to resist the influence of foreign capital. This sys- nounce them as tyrants, monopolists, candibals, and assastem is composed of all those laws, at different times enact- sins of his natural rights. What law, against what minoed, to place impost duty on imported commodities, the rity, may not work the like evils ? The argument makes growth or manufacture of other countries. This union of no difference in the moral character of such a miuority. It revenue, encouragement, and protection, under these laws applies equally to the honest and the dishonest, to the psof impost, forms the American system. The bill before the triot and to the traitor. committee proposes such regulations as may perfect the The enemy ivvades your frontier, and, being pressed for execution of those laws, and sustain that system, so peed- subsistence, offers to your citizens high prices for provi
: ful for the support of Government, the payment of the sions. To furnish these supplies, might become a very public debt, and the encouragement and protection of all profitable trade ; but “to adhere to the enemy, or gire the various labors of the people.
him aid and comfort," is treason by the laws of the land. The subject comprehended in this measure was recom- This law is a law of the majority. "It cuts off the minority mended to the attention of Congress at the commence- from a profitable commerce, which, but for this law, ment of this session, by the annual message of the Presi- might be innocent and very productive. Assassination is dent. The Committee on Manufactures, to which it was in some countries, a profitable business, to po inconsiderreferred, bas received from the Treasury Department am- able minority; and, but for the oppressive laws of tyranple and detailed accounts of numerous and extensive frauds, nizing majorities, might be much more productive to those perpetrated, under color of law, by English agents, in the bravos, who, at great cost, bave made themselves skilful
May 10, 1830.)
(H. OF R.
in mingling poison, or flourishing the dagger. Pirates, who, ments on the South; or by any illustrations, drawn from always denominate themselves free traders, might drive a the diminished price, or limited market of tobacco. I will very profitable business, if the overwhelming majorities of therefore make no further allusion to either of these. all nations did not, without regard to their claim, outlaw, It is said the market price of cotton has, since 1818, and drive them from the ocean. Smugglers bave the same been reduced from thirty to ten cents a pound. This statecause to complain; for honest merchants, iu all communi- ment should have run back to 1816, because, at that time, ties, have united to expel and chase them out of society. the protecting principle was first introduced into the sysAll these laws have been enacted against these minorities tem ; and because cotton was then at a lower price tban by majorities mindful of their own interests, avd utterly that to which speculatiou raised it in some succeeding regardless of all claims of such minorities. Do not tell years. It has not been alledged in this debate that the me tbat these men were felops or outlaws, while the mi system has increased the cost of growing cotton. Lands nority in this question are honest and deserving citizens. have not thereby been made less fertile, or the support of It is, indeed, so. This minority is, to the full, in all quali. labor more costly. The natural price of cotton bas not ties rendering men meritorious, equal to any people of been advanced, wbile the market price bas declined. The these United States. That, however, is no part of the ar- market price bas declined from thirty to ten cents. This, gument as it has been presented to us. Their claim to have it is said, is the effect of the American system; and on this the laws reversed has not been placed on their merit, but alleged fact, this objection to that system is sustained, if on their right as a minority. For the first time in the bis- sustained at all. tory of popular government, it has been alleged that laws, The money market price of any commodity depends to be just, must be equally beueficial to all; the interest not on supply, or on demand alone, but on the relative of the many must submit to that of the few; no matter proportiou of the one to the other. Whatever increases how few-one thousand, one hundred, ten, or one man. the demand for bread or cotton, while the supply or quad
It is admitted that the American system is beneficial to tity in the market remains the same, will raise the price. the nation. It is denounced, because the cotton and tobacco Oo the contrary, whatever increases the supply. or quadof certain States are, by its operations, reduced in price. tity in the market, of these commodities, will, wbile the Although it makes the sugar and grain-growing States rich, demand remains the same, lower the price. The supply yet does it make the cotton and tobacco States poor. It is, of cotton, in the market of the world, depends entirely on iberefore, a despotism, and must be repealed. Will the the ability and on the will of the growers of that product. amendment remove that evil, this unequal operation of the Though they cappot increase the quantity above a limited general laws! You would abolish the American system. amount, yet they can, without question, dimiuish that By this, the great interest of the sugar-making, the grain- quantity to any amount which they may choose. It is the growing, and manufactruing States, are overthrown. The demaud, then, for cotton, in tbe markets of the world, interests of the cotton and tobacco planting States are ap-over which the cotton growers have no control; and of preciated. Will the free trade system, by this process, do which, if varied by the American system, injuriously, to less damage than the American system? Will the nation their interest, they would complain. The great questiou, be in a more prosperous condition, if the majority be ruin. therefore, when fairly stated, must be tbis : Has the Ames ed, that the minority may be enriched Shall the American rican system diminished the demand for raw cotton io the system be overthrown, because ruinous to the few; and the markets of the world ? English system established, more ruivous to the many ? W bat has that system performed in this great business
Under this bill, and this amendment, the argument from It has introduced, encouraged, and in some degree proSouth Carolina bas introduced these important and vital tected, the manufacture of cotton cloth, by machinery questions. If the nature of things do judeed permit any moved by water power, in many parts of these United
foundation for these questions, how should a nation, wise States. Jo 1789, there was, I believe, one small cotton i in couusel, and patriotic in purpose, decide and settle themi mill, of about three buvdred spindles, in the whole coun
Before we come to that decision, let us diligently inquire try. At this time there are in operation not less than one whether our nation is, in truth, placed in this miserable million five huudred thousand. "Cotton spinding machindilemma. Is it, indeed, so After fifty years of union and ery has increased in France in the same or in a greater united labors, bave interests grown up among us, and that, proportion. Her system of encouragement and protection too, under a system of laws equally patronizing and cherish- is to that country what the American system is to the ing all;
bave great interests in this family, and brother- United States. England has, during the same time, bood of employment, grown and flourished together in increased her spindles in the same or in a greater ratio. | barmony until the present tine; when, wonderful to be This machinery is of Evglish invention; and the people of
told, a native and inherent antipathy is all at once found that country, so soon as their great mystery was carried among them, so hostile and deadly, that some of them into the United States and France, were awakened by a can no longer exist without the extermination of others ? spirit of competition. This competition must have reWhat, then, are the allegations brought from South Caro- doubled their diligence; and not only perfected, but mullina against the American system, proposed to be sustain tiplied their machinery in at least a fourfold ratio of the ed by this bill? If, under the provisions of this amend- amount to which it would at this time have attained, had ment, that system should be abolished, and the English the invention, in all its branches, been confined to Eugland system established in place of it, would these events be alone. Instruments of agriculture and commerce have followed by a condition of national interests more pros. multiplied at the same rate. Are there not more ploughs, perous than the present ?
and wagons, and ships now in the world, than there would I will go in to some examination of four of the effects, have been, if none of them had ever been built or used on which, as it is alleged by the member from South Caro- this side of the Atlantic ? You might as well say the lina, result from this system : First, it reduces cotton and human race would, at this time, have been as numerous, if tobacco in market price; second, it com pels the growers this fruitful country had never opened her bosom to the of those products to pay many times more than their just civilized wants of inan. If the Ainerican system bas thus proportion of the revenue ; third, it secures a bounty to the multiplied cottoo spinning machinery in the manufacturing sugar-making, grain-growing, and manufacturing States, world, has it diminished or increased the demand for raw on their produets ; fourth, it deprives the South of their cotton in the markets of the world I natural market, the market of England. The member The increased consumptiou of cotton cloth has further from South Carolina bas not sustained his amendment by increased that demand. This cloth has taken the place of any allusion to the deleterious effects of interual improve- I linen, hempen, and, to a great extent, that of woollen
H. of R.)
[MAY 10, 1830
cloths. This could never bave been effected. unless ma- | about seventy millions of pounds ; åpd make, at the above chinery and water power united had diminished the cost rate, two hundred and eighty millions of yards of cloth. Great of manufacture, and thereby driven household fabrics, made Britain will probably spin three hundred millions of pounds, from flax, bemp, and wool, out of use. In 1789, tbe whole and make twelve hundred millions of yards of cloth. labor of the United States was clothed in such fabrics ; and It does not appear that, in 1789, when England consum
1 cotton almost entirely excluded from consumption. Had ed about one million five hundred thousand pounds, that not machinery been brought into our country, and encou- any cotton remainod unspun at the close of that year. How
៩ ៨ raged and established bere, the whole free labor of the has supply kept pace with demand, since that time! Why,
beer Dation would, at this time, be clothed in the same maliper. sir, although demand has increased in England, and in the
Bas South Carolina has told us, that, had this destructive sys. United States, siuce 1770, from a cousumption spinuing pre tem left spindles and looms 1o the use of England and only five hundred thousand, to a consumption spinning RTF France, cotton would now bave been thirty cents a pound. three hundred and seventy millions of pounds, and from two If this be true, would cotton, without the aid of niachin- millions to one thousand four hundred and eighty millions ery, be able to compete, in household manufacture, with of yards of cloth, yet supply has so increased, and pressed fax, hemp, or common sheep's wool, of a much lower on demand, that, in 1823. not less than ninety-two millions price! Nay, sir, at its present price, cotton could not be of pounds of cotton were left in England alone, unconsumed, spun, because it could not be purchased, by the graiv.grow. at the close of that year. The surplus supply has, sinee ing States, unless in exchange for manufactures, wrought that time, beeu constantly augmenting, by a most persé by that machinery which owes almost its existence, in this vering process, which the member from South Carolina (Mr. country, to the American system.
McDUFFIE) calls working barder and making more." The demand for cotton, inereased by the multiplication A great case, and similar to this, occurred in this counof machinery, is not limited to the United States, France, try, during the revolutionary war. Money, a circulating and England. This demand is extended to South Ame- medium, was wanted for conducting the great and vari rica, Hindostan, and China. The revolution in Southern ous business of that war. It was a new trade, and reAmerica opened the markets of that vast country to the quired a large additional money capital. The demand products of the world. The three great manufacturing for that medium was, however, limited by the amount of st competitors have pushed their cottou fabrics into those labor, subsistence, clothing, and munitions of war required countries; and their cloths do, at this time, supply nearly to be bought and sold in the wise and prudent conduct the whole consumption. American mercbants, in 1816, of that war. What was done! Two millions of paper imported into the United States vast quavtities of cotton dollars were at first emitted. This amount was immedias cloth from the East Indies. It was, to New England espe- ately absorlied by the circulation. More was wanted ; an'at cially, a most profitable commerce. Ju that year, Mr. other million was added. Demand was not satisfied. 2 Lowndes, aided by Mr. Calhoun, and other eminent states. Prices of all commodities kept their former level. Two men of the South, placed the tariff on that trade. What millions more were emitted. The trade grew more brisk, the has followed ! Not only has the cotton of South Caroliua and prices rose a trifle. The scale, balancing demand and i sto excluded India cottons from the consumption of this coup supply, vibrated : apother two millions were added; and to try, but our merchants now export American cotton cloths depreciation began. lustead of reducing supply by callto Calcutta, Canton, and Manilla; and, under the aid of the ing, in, and retaining from circulation, the last emission, American system, the cotton of the South Carolina planters and thereby adjusting sopply to demand, millions after is actually driving that of the Chinese and Hindoos out of millions were acided: and thie, too, in the vain hope of cartheir owo markets. Where, then, is ibe statesman, so an ing the disease by increasing the cause of it; until the mass acquainted with the state of facts ou this question, or so amounted in puunber to two bundred millions of dollars regardless of their existence, as to contend that the Ame- and in value to forty for one. Demand required five milletin rican system has, by multiplying spindles and looms in this lions ; and no matter to what amount you increased the country, diminished the demand for raw cotton in the mar- quantity, the value could never be raised above that sum. b kets of the world?
In like manoer, when the whole demand for cotton in the phone If, then, this system has not, in its operations, diminished markets of the world is supplied; when the whole mo- i the this demand, what other course has diminished the market ney which the world will or can pay for that commodity
, wb price of that product from thirty to ten cents ? If, indeed, is laid down; bring what additioual quantity you please the price of cotton be diminished, while demand has been into the market, the whole will not, it cannot, bring to the art so enormously increased, that diminution must be the effect planters of all the world any additional amount of money. of increased production. What has been the progress of if pushed to a sale, it must be sold on speculation, and a this branch of agriculture? The inquiry will be confined a reduced price. Whoever will look into the progress of the to the markets of the United States and England. From spinning and weaving cotton cloth by machinery, will find , 1770 to 1781, England imported, from all the world, five it has, since 1789, in England and the United States to me millions of pounds of cotton; from 1781 to 1791, she import- gether, increased the demand for cotton more than seventeen ed eighteen millions of pounds; from 1791 to 1801, thirty. Hundred fold; and, in the United States alone, five thou Jag two millions of pounds; but in 1823, she imported in that sand fold. Is this the system which, by diminishing the single year one hundred and eighty millions of pounds. Her demand for cotton, has reduced the money price, and in te average annual import was, for the first ten years, five jured the cotton planters of South Carolina ? 'No, sir; bad hundred thousand pounds; for the second, one million eight not Arkwright in England, and Slater in the United States huodred thousand pounds ; for the third, three millions two originated this labor-saving, this wonder-working syster Mit hundred thousand pounds; and then, in the short space of in the production of nations, the great capitalists of South twenty-two years, her annual import rose up to one hun- Caroliua, in place of receiving, as they do now, seven mildred and eighty millions of pounds. England, in 1770, lions of dollars annually for cotton, would never have te could bave spun but five hundred thousand pounds, por, at ceived a cent. four yards to the pound, have made more than two millions These great planters of the South hold in their hand of yards of cloth. * In 1823. she exported thirty millions of the cotton market of Europe. They supply vearly three pounds, and spun one hundred and fifty millions of pounds ; fourths of the whole consumption, and can, when they making, at a like rate, six bundred millions of yards of choose to diminish supply, by diminishing production
, bei cloth. "The United States, in 1789, spun none, for there raise the price to the cousumers of more than half the was no American cotton ; and they spun almost done from world. While the spindles, and looms, and labor of Eu any part of the world.
We shall spin this year, 1830, / rope and America are in a most persevering competition,
In May 10, 1830.)
[H. OF R.
still further to extend the demand and consumption of this progress of improvement, in reference to individual southern cotton, those very reasonable gentlemen will not or national wealth. Is the world, is our nation, the richer relieve themselves by the very easy process of working or poorer for it A man is, and so a nation is, rich or less and making more.
poor," says Adam Smith, "according to the degree in I have pushed the inquiry into this allegation against which he can afford to enjoy the necessaries, convenienthe American system, on the supposition that the price ces or amusements of life." What has been the effect of cotton has been diminished since 1816. Have we not of this system on the laborers of the country! Has it inbeen looking for the cause before we had found the effect ? creased or diminished their power to “enjoy the necesHas cotton fallen in price? I do not mean in money saries, or conveniences, or amusements of life ?" In price; in the number of dollars and cents for which any 1816, a day laborer on the wharf in Providence received given quantity of that commodity may be exchanged. if in money one dollar for his day's work. The price was a planter sell one hundred bales of cotton for money now, the same, or nearly the same, in all other commercial will not that money buy him as much bread, meat, drink, towns on the Atlantic frontier. What quantity of coarse or clothing, as the money would have bought, for which cotton shirting would that dollar then buyi Such cloth the same quantity of cotton was sold in 18167 Compare was then twenty-five cents a yard, and the price of his cotton with the fabric wrought from cotton. Here you day's work, bis dollar
, would then buy for bim four yards. will learn the exact effect of machinery and the American The money price of such labor is now precisely what it system on the cotton planter. In 1816, cotton wool was was in 1816. What quantity of equally good cloth will the twenty five cents a pound; coarse cotton cloth, wrought laborer's day's work, his dollar, now purchase for him and from the wool, was twenty-five cents a yard. One pound his family ! If bought at retail, ten yards ; if at wholesale, of cotton wool would then purchase ove yard of coarse sixteen yards. In the one case, the laborer is one buncotton cloth. At the moment I am speaking, cotton is dred and fifty per cent, and in the other he is three hun. ten cepts a pouud, and coarse cotton cloth six and a quar- dred per cent. richer than he was at the commencement ter cents a yard. Ten pounds of cotton will now purchase of this system. This, sir, is the system, the American sixteen yards of cotton cloth; but sixteen yards of cotton system, which, as we are told, is “grinding the face of the cloth would then purchase sixteen pounds of cottou. Cot- poor." ton wool bas diminished in a ratio of one hundred and fif The demagogues of England and the statesmen of New ty per cent. on its present money price; but cotton cloth York and South Carolina, tell us that this profligate sysbas diminished in a ratio of three hundred per cent. on its tem is aiding the aristocracy in waging a war of extermipresent money price. Who has lost or who has gained nation against the democracy of the old and new world. by the American system, the capitalist of the North or the Yes, sir, the systems made to protect the labor of England capitalist of the South ?
and the United States are, in their operations, enabling the It will be found, on minute examination, that agricul- aristocracy, the capitalists of these countries, to extermitural products bave fallen in money price, in the ratio of uate the great interests of that labor. Astonishing discotton wool; manufactured products in the ratio of cot-covery! wonderful wisdom! What bas the protecting ton cloth. The cause of this difference may be easily system done for the labor of this country! It has given å explained, and this explanation belongs to this branch of choice of employment, the plough, the sail, or the loom; the discussion. The progress of improvement in agri- | and, while the call for labor from the great commercial in cultural machinery, in our country, is less various and ex- terest is increased, it has created a competition for labor betensive than the like progress in manufacturing machin- tween the two other great interests of the world, the ery. Passing by some minor improvements, only two ca- agricultural and manufacturing. The protection laws of pital ones in agricultural instruments bave been made England are what alone can sustain and preserve the lasince 1789. These are the cast iron plough and the cot- bor, the democracy of that pation, from the overwhelming ton gin. The cast iron plough saves one-third of the power and influence of its aristocracy. power necessary to move the one made of wood and What is the aristocracy of England? The great landwrought-iron, and will perform one-third more work in holding interest, whose estates are, at a money rent, unthe same time. Southern planters can, better than I can, der lease for from seven to twenty-one years--the great tell how beneficial the cotton gin may have been to south- moneyed interest, whose capital is vested in notes, bills, eru agriculture; and the very ample and liberal manner bonds, mortgages, and banking-the great stockholding inin wbich South Carolina rewarded the inventor of that in- terest, whose funds are in the various stocks, which, strument, is at once a proof of its high value, and the altogether, constitute the national debt--and the office
justice, honor, and liberality of that State. One circum. holders great and little, whether civil or ecclesiastic, nasi stance in the nature of agricultural labor renders it diffi- val or military. These, altogetber, make about six hun
cult to reduce the cost of its products to a level with those dred thousand families. of manufacturing labor. The labors of the farmer and What constitutes the democracy of England 1 The leaseplanter are incapable of the same minute division as are hold and farming interest-minor and middling proprietors, those of the manufacturer. They come in succession, whether in land, machinery, fisheries, mines, commerce,
and the same bands which plough must sow, hoe, and ga- or navigation, together with the whole labor of the naSunt ther 'the harvest. This not only wastes some time, but tion. All these constitute about two million five hundred un prevents the laborer from acquiring that skill which manu- thousand families, and are the great producing portion of À facturing laborers are, by the minute division of their en- the English community. The protecting system of Great
ployment, enabled to acquire. On the contrary, the Britain, her tariff and corn laws, what is done by them for $ division of manufacturing sabor, and the improvenient in this democracy! by the machinery by which it is performed, have been asto Suppose the bill of the gentleman from New York * nishing since the commencement of the American revo- [Mr. CAMBRELING) should have that weight in England
lution. These bave so reduced the cost of cloth, and other which it seems to want here; and the statesman of that manufactured products, that agricultural products are now nation, enlightened by those provisions which are utter exchanged for a much greater quantity of them, than at darkness and chaos to us, should repeal their tariff and the time when this great improvement began. If this re- corn laws, they would, it is believed, receive one-third duction of price be an evil, it falls with a weight twice as of their corn from abroad. One-third of the coru lands ogerous on the manufacturer, as it does on the farmers of England must thereupon be thrown out of use; this and planters.
would sink so much farning capital as is vested in those It may be worth our time to inquire into the effect of lande. This capital could not go dowo, without carrying
H. of R.)
[MAY ,10 1830.
down with it the agricultural labor now employed by that mand for it, which we had in 1816; and it follows as a corolcapital. Manufacturing production depends on agricul- lary, that one dollar of our present currency is worth as tural consumptions. The shock which sioks the one, much as two dollars of the currency of 1816. The fall, must sink the other. The products of agricultural and then, in the price of cotton goods is purely nominal. The mavufacturing labor must sink in money price. Labor real change is the value of money. in those employments, which is now but just fed, must then If the diminished money price of cotton cloth be, as continue to be fed. It would fall in money price ; but it the South Carolipa stateamed say, in this Review, the effect would not fall in cost. The whole production of the de- not of the American system, but of the appreciation of mocracy, the great producing class of the community, nioney, would not that appreciation bave had the same will fall one-third or one-half-in its market money price. effect on cotton wool If cotton wool be reduced in What will happen to the aristocracy? These men live on market price by the appreciation of money only, how is income, derived from rents, from interests, from dividends, that reduction the effect of the tariff?" If the true theory and from salaries. Will such income be reduced or aug. be given in the Southern review, then what is the theory mented ? It will appreciate in value, as production declines given in his speech, by the member from South Carolina! in money price. Rents, interests, dividends, salaries, to. I leave the speaker and the writer to reconcile himself gether with the whole national debt of nine hundred mil- to himself; and as al! erroneous theories are alike, and be lions of pounds sterling, will, in effect, be doubled. This long to the same family, the reconciliation may not be very will indeed be a war on the democracy of England--that difficult. which destroys the labor, the people, the democracy of To illustrate the ruinous effect of the tariff on the inthe country, must in its final consequences ruin the coun-dustry of South Carolina, it is alleged by the member from try itself. This the patriots of England koow full well ; that Štate that labur is less productive there than in the and sooner than repeal her corn laws and tariff, her pro- North. In the South, labor is capital, and must be so con: tecting system, they would, if it could be done, cut adrift sidered, in any examination of its relative profits. It is their fast-anchored isle, and let it float down, like å vast said a laborer earns twelve and a half cents a day in South iceberg, under the equinoctial, and so melt and mingle Carolina, wbile, in the manufacturing States, be earns fifty with the ocean, that this now delightful region of men, cents a day. Let the first be admitted, the last is denied. and wealth, and laws, and letters, science, morals, religion, It is then admitted that each map earns twelve and a and human felicity, should no longer be found in the world half cents a day. This gives forty-five dollars and sixty; of waters or of land.
two and a half cents a year. Iu ten years, four hundred Sir, it has been shown that, if the money price of cot. and fifty-six dollars and fifty cepts; and from twenty years to has fallen, it is the effect of too abundant supply, of age to sixty, are forty working years, giving an amount and not of any diminution of demand produced by the equal to one thousand eight hundred and twenty-six dollars. American system. It has also been demonstrated that, This is what the slave earns for his master; but his labor, although the money price of cotton has declined, yet the aided by that of his wife and children, does, besides this, real exchangeable value of it has not declined, but rather furnish his own support, and that of bis family. Now, sir, appreciated, uuder the operation of this system. An- what does the day laborer in the North earn per day! What other statement of this question has been exbibited in the can be lay up at the end of the year 1. What bas he at Southern Review, a work of great literary merit, and de- last earned, and saved for the support of his old age, when servedly high in rank among the periodicals of the age. he can work no longer ? I speak of ordinary, pot of It is published in Charleston, South Carolina. The fourth skilled or manufacturing labor. Take the man who was number contains, among others, two articles, one on the born to no other inheritance but toil. He is without bouse Georgia question, and the other on the tariff. The first, or land. His hands furnish the food, the clothing, the an able paper, is attributed to the gentleman from that habitation for himself and family. I ask gentlemen from State, directly before me, [Col. DRAYTON.] The second, East to West, how many such laborers have they known, on the tariff
, is attributed to another gentleman from who laid up money at the end of the years; or left money. South Carolina, if the image and superscription on the or goods, or lands to their children, at the end of life! penny might refer the coinage to Cæsar. On this floor, They rear a family, and do not, when they leave the world, South Carolina charges the reduced price of her cotton leave it less populous than when they found it. The race to the detestable operations of the American system. I of toil is not diminished in their time. They, if God so beg leave, sir, to read the opinion of that State on this permit, have a family around them; and when they can question, from the 585th page of the Southern Review. no longer labor, they look to their children for that sup
" The fact to which the restrictionists habitually appeal port which those children bave received from them. If it for its verification, is the fall in the price of cotton manu- be otherwise ordered by the Disposer of all things, and they factures since the passage of the tariff in 1816, which im- are alone in their age, they look to some alms-bouse for posed a prohibitory duty on the coarser fabrics, and a very shelter and food. When such a man has felled his last tree, high dnty on the finer descriptions. We admit, without ploughed his last furrow, borne bis last burden, he sits hesitation, the alleged fall in the pominal or money price quietly dowo, and waits for the sunset of his day. Who, of cotton mapufactures, to the full extent that it has been sir, would talk of what such men can clear and lay up, asserted by the mnoufacturers. We coucede, for exam- and leave to bis children! All men know it is nothing. ple, that such cotton shirting as sold in 1816 for twenty. Indeed, the member from South Carolida seems to adfive cents a yard, can now be purchased for half the money. mit this, when be asserts that a New England man cronot But this fall in the money price of cotton shirting has no hoe so much in a day as a southern negro. It is said commore connexion with the tariff of 1816, than with the parisons are odious; and, sir, never could one bave been election of Mr. Monroe to the Presidency the year after. made more odious than this
. We all labor in the North. Every one who has the slightest knowledge of the history The youth and manhood of our best and most esteemed of our currency since 1816, and of the influence produced men have been seasoned in the toils of our various year. by its appreciation upon money prices, will at once per- From boyhood to twenty-one, I myself was with the plough ceive that the change which bas taken place in the quan- and the boe, associated with such men in the culture of tity and value of our circulating medium, is alone suffi. New England fields. We are challenged to hoe with the cient to account for the apparent fall in the price of cotton slaves of South Carolina ! Let them out the challenge for fabrics. We are quite within bounds when we say that themselves, not for their jaded and discouraged slaves. we have not half the aggregate amount of circulating Sir, we can hoe our row with their masters. medium in the United States, in comparison with the de- ! Does South Carolina complain that her slaves can earn