H. OF R.] The Tariff. [JUNE 8, 1832. rage of nine millions. From 1818 to 1824, inclusive, the of grain, and animal provisions, constituted much the exports of flour fell to an average of $5,000,000. This largest portion of our exports, and seeing that, at that reduced amount of the annual exports of flour, however, time, cotton and tobacco alone constituted one-half the it must be remembered, was caused, not so much by the exports of the country, seized upon that fact, and urged diminished quantity exported, as by the fall in the price, it as conclusive proof that the cotton and tobaccothat article, like all others, having fallen about fifty growing region had an undue advantage over the other per cent., or one-half. Up to 1815, cotton, although it sections of the Union, which ought to be corrected by had grown to be the next article of export in importance, law; wholly overlooking or disregarding the fact that was of less value than flour. The annual export of the diminished proportion of the exports of all other cotton between 1800 and 1815 fell short of seven millions. articles was richly compensated by the market which From 1800 to 1811, the average quantity of cotton annually those articles found in the planting States. produced in the United States was about 50,000,000 lbs. Really, sir, the revolution which took place in this counFrom 1811 to 1815, the average annual produce of that try after the general peace of 1815, in the productive inarticle was 30,000,000 lbs. In 1815-'16, the quantity was dustry of the country, affords so clear and beautiful an increased to 80,000,000 lbs. In 1818 and 1819, the quan-illustration of the laws of trade and production, that it detity was, upon an average of these two years, 90,000,000 serves a more characteristic description. While the relbs. In 1823, the quantity was increased to 173,000,000 lbs. gular industry of Europe was disturbed by the wars of so In a period of eight years, commencing with the close of the many years; while so many fields were laid waste, and so late war, appears that the quantity of cotton annually many hundreds of thousands of the agricultural population, produced in the United States was doubled. From these from. being the producers, were converted into soldiers, facts it is evident that in 1823 double the capital and labor and became consumers only of all kinds of provisions, were employed in the cultivation of cotton, that were em- the productive industry of this country adapted itself to ployed in that branch of industry in 1815. Well, sir, the condition of Europe, and was employed chiefly in whence comes this extraordinary increase of capital and the production of breadstuffs and other provisions for labor? Will any one contend that this large amount of subsistence. When the wars ceased, and the industry of capital was created in the intermediate period?--or will Europe resumed its natural channels; and when the it be said that it existed, but lay idle, until it was called in-agricultural products of Europe, produced by the labor to action by the demand for cotton? Surely neither of of about one-third of the population, supplied the markets those propositions will be seriously maintained. The of that continent, leaving much the largest portion of the increased capital and labor, added to the cotton-planting population to be employed in manufacturing industry, business between 1815 and 1823, were gradually with the labor and capital of this country, so soon as the effects drawn, in that period, from other pursuits, from the pro- of the changes of Europe were felt, directed by an induction of flour, other breadstuffs, and animal provisions, stinct the most sagacious and unerring, I mean the instinct which had constituted the principal exports of the country of self-interest, adjusted themselves to the new state, of as long as the foreign demand for them continued; they things in Europe, with a precision and exactness which were withdrawn from the production of those very articles must ever be unrivalled by the details of any tariff law. which constitute the staple produce of what are now called But the industry and capital of the United States not only the grain-growing States. The South and Southwestern accommodated themselves to the changes of European farmers and planters, instead of continuing the production production, but the industry and capital of the different of grain and animal provisions for exportation, actually sections of the Union adapted themselves, with equal tact, ceased to produce enough for their own consumption, to the particular pursuits, natural capacities, wants, and and became the consumers of the flour and other pro- supplies of each other. The entire region of country ducts of the Middle and Northern States. This change best fitted by nature for the production of cotton and toin the employment of Southern capital and labor was bacco, was employed almost exclusively in growing these the result of that adjustment and adaptation of the pro-articles; while the Middle and Western States continued ductive industry and capital of the country to the new the production of grain and other articles, to which, by demands of trade and commerce which take place in soil and climate, they were best adapted. While the plantevery country where they are left free and untram-ers of the South and Southwest became the producers of melled by the unwise interference of Government. But, much the larger portion of our exports to foreign markets, under all the embarrassments of the protective policy, the inhabitants of the Middle, Western, and Eastern States the quantity of cotton produced in the United States became the carriers and interchangers, and furnished the has doubled since 1824, showing a diversion of a propor- necessary supplies for the subsistence of the planters of tional quantity of capital and labor from other pursuits the South and Southwest. This was the natural state of since that time. I will not say that the whole amount of industry and trade. Each section contributed to the stock the increased capital and labor, required to produce this of national wealth, in the way which nature pointed out as increased quantity of cotton, has been withdrawn from most profitable to each and to all. While the Southern the production of other articles coming in competition with laborer was employed in planting cotton and tobacco, the the products of other sections. A portion of this capi- farmer of the Middle and Western States sowed and reaped tal, thus added to the cultivation of cotton, has, no the grain, and reared the live stock, which fed the laborer doubt, been accumulated in the cotton-planting busi- of the South; while the manufacturers of the Eastern States ness; a part has been withdrawn from the culture of supplied him with the numerous articles of domestic manutobacco, and a part of the uncommon increase of the facture which their peculiar capacities for the producproduction of cotton is, without doubt, to be accounted tion of such articles enabled them to supply cheaper than for by the superior fertility of the lands of the South- they could be had from any other source. west which have been added to the cotton-growing Such, sir, was the equal, natural, and profitable condiregion since the war. But still much the largest por- tion of the domestic labor and capital of the country in tion of the capital and labor now employed in grow-1824, and such the fallacious and unfounded arguments ing cotton must be admitted to have been withdrawn upon which the fatal policy was supported, of disturbing, from other pursuits; and the result has been to convert by artificial regulations, the harmony, fitness, and equality the whole South and Southwest into one great market of the productive energies of the country. By the system for the products of the other sections of the Union. established in 1824, the inhabitants of the Middle and EastIn 1824, the advocates of the restrictive policy, look-ern States sought and found the means of compensating ing back upon those times when grain, or the produce the low prices of 1819 and the subsequent years. The JUNE 8, 1832.] The Tariff. [H. OF R. whole capital of the Middle and Eastern sections of the but is certainly entitled to some weight. The whole plantUnion, whether consisting of money, lands, or other pro-ing population of the South and Southwest, from the comductive property, in fact, by the policy of 1824, was re-mencement of this system up to this time, have, with surstored, in a great degree, to the enjoyment of the profits prising unanimity, perseverance, and with still increasing of the period of high prices. The decline of prices which earnestness, resisted, remonstrated, and protested against took place in 1819, has been remunerated to the produ- it, as unequal, unjust, and oppressive. It is barely poscers of the Middle and Eastern States by the operation of sible that the entire population of a large section should the protective policy; and, as a necessary consequence, labor under a total delusion in relation to the operation of upon the principle that all wealth, however unequally a system of policy upon their own general and individual distributed, is still the product of labor, whatever increase interests. The probability that the opposition of the plantof profits beyond the general average value of the labor ing States to this system is founded upon a mistaken view of the whole country has crowned the industry of one of its effects, is greatly diminished by the fact that the masection, has taken place at the expense of the labor and nufacturing States continue to sustain the system with capital of others. The means, the engine by which this equal perseverance and earnestness, as the great source inequality in the rewards of labor and capital has been ef- of their uncommon prosperity. fected, is the Government; a Government which proffers But, sir, there are physical proofs of the unequal action to be a common Government; a Government designed for of this system, which cannot be argued away, or denied. the equal protection of the rights and interests of all the They are to be seen in the stationary condition of a part, members of it--of all its citizens, without distinction and the progressive deterioration of the remainder, of one of pursuit, or clime, or section. From the moment great section, in all that constitutes the evidence of inwhen this system took root in this country, by the act creasing prosperity and wealth, while other sections exof 1824, a new principle was engrafted into our legis-hibit all the marks of uncommon and extraordinary imlation. From that moment our policy was no longer provement. The lines which separate the favored from regulated in reference to a common interest; from that the other sections of the Union are too distinctly drawn to moment a war, a mercenary war of sections, a war of dif- be overlooked. The Southwest is stationary, at most. ferent interests, commenced in this Hall, altogether in- In that region a virgin soil compensates, in some degree, compatible with the permanent existence of a common the reduced profits of labor and capital. The long tract Government. From that moment we ceased to be a peo- which stretches from the Potomac to the St. Mary's, ple united in the enjoyment of equal and common inte- bounded by the Alleghany on one side, and the Atlantic rests. Instead of being a rival power, and having rival on the other, exhibits one unbroken picture of a country interests in trade in reference to other nations, we became exhausted or exhausting under the efforts, by increased divided among ourselves, and reared up hostile and rival production, to keep pace with the low prices of all they interests at home. Our quarrels, instead of being exter- sell, and the high prices of all they buy. In this region, nal, as formerly, have become internal. The conflicts of cities and villages decay--a new village is a thing unknown. interest and the jealousies of power no longer exist be- The new and stately private mansion rarely marks a spot tween this country and the nations of Europe; they exist where uncommon thrift and good management have seonly between the different sections and the different inte- cured individual accumulation in the midst of general imrests of our own distracted country. poverishment. To behold the reverse of this picture, you Sir, I am sensible that these are strong assertions, and have only to cast your eye to the North and East. Bethey would be altogether unjustifiable if the strongest hold, there, their proud and populous cities, already rivalproofs did not exist of their correctness. For the proofs ling in wealth and luxury the cities of the old world, into of the general distractions of the country, and of the con- which the products of the labor of a whole people have flicts between the different sections and interests which been concentrating for a thousand years! Behold new vilprevail in the National Legislature, I appeal to the con- lages annually produced, and the whole wide surface of sciousness, the internal conviction of every member of this the country, from the sea to the mountains, decked all House. I am sure there can be no division of sentiment over with the insignia of new-born opulence and increas upon this point. The evidence is not the less clear, though ing prosperity. But why enumerate all the appearances not so generally admitted, that these distractions and con- of rapid accumulation which strike the eye of the travelflicts between the different sections and interests are the ler in these favored sections? That they are prospering consequences of the unequal operation of the protective in a degree unparalleled in this country at any former policy. I will not go into the details of the process. I period, is at once the admission and the boast of the advowill not pretend to describe the precise mode or manner cates of this policy. "No country," says a leading advoin which, and by which, the just, equal, and natural re-cate of this policy, (M. Carey,) in a recent publication, muneration of the labor and capital of one section is with- "ever flourished more than this has done ever since the held and transferred to another. I will not, as I need not, tariff of 1824." Now, sir, what country is here spoken attempt to describe the quantum of the wrong, the degree of? The South is surely not intended to be included. No, of injustice and inequality in the operation of the system sir, when you press those who employ this general lanupon different interests and different sections. This would guage to define with greater precision what they mean be a very difficult task; but I will put the whole question when they speak of the flourishing condition of the counupon this issue: if there are no visible, clear, and palpable try, they will admit that the South, as a distinct and inteproofs that the action of the protective policy is unequal, gral country, is not flourishing, and they immediately, and then I will admit that there can be no injustice done by by rote, begin to recite the causes which they say must upholding it worth complaint. These proofs are worth ever keep that fated region in a state of comparative denothing if they can only be made out by mere theoretical pression. Sir, I consider the sense in which the word calculation and deductions. After a system has been eight "country" is used by the advocates of the tariff, in speakyears in rigorous operation, we must look to results actu-ing of its operation, as one of the worst omens of the future ally produced. To prove that its operation is unequal and destiny of the Union which these distracted times have unjust, we must look to the relative condition and pros- given rise to. The country meant is always the tariff perity of the different sections and interests affected by it. States or sections. Rome is substituted for all Italy, or, In 1824, abstract arguments and theoretical speculations rather, Italy is substituted for the whole empire. The were admissible. Now, we must appeal to practice and particular members of the body, into which, by an artifiexperience. There is one proof, however, of a different cial action of the system, the nutriment intended for the kind, which I beg leave to refer to. It is not conclusive, equal supply of all its parts is concentrated, begin, natu H. OF R.] The Tariff. [JUNE 8, 1832. cordingly, we see that, in 1824, a plan was devised for the execution of this part of the American system. We have the evidence before us, at every session of Congress, that the supporters of this policy, in the West, claimed the benefit of the equivalent. It has recently been proclaimed, in the most unreserved and open manner, that the West cannot abandon its claims to this indemnity. I have seen and marked the condition of the sons and Without designing to go into minute details, I will addaughters of toil in the Western parts of that great sup-vert to one other proof of the unequal operation of this port of the system, Pennsylvania; and, in my judgment, policy. While flour and every other article of the prono portion of the people of these United States exhibit, duce of the Middle and Eastern States have continued to in more striking features, the effects of the iron rule and maintain the prices of 1824, the great staples of the South dominion of their capitalists. As for the Western States, and Southwest have rapidly declined. The average mar although they are not generally admitted to be excluded ket price of flour in 1824 was six dollars and fifty cents from the benefits of the system, yet no candid and enligh-per barrel. It has never been lower than five dollars in tened supporter of it will gravely and seriously contend the markets upon the Atlantic. In 1824, the average that it is at all suited to their condition. I have heard, price of cotton of all descriptions was fourteen cents, of and I have read, many glowing descriptions of the im- inferior qualities twelve and a half cents. In 1831, it had proved condition of these States under the operation of fallen to an average of nine cents for all qualities, and to this policy. I have also visited the interior of the most seven cents for inferior qualities. But a still more strikconsiderable of them, and I searched in vain for the evi-ing view may be presented of the depressed state of Southdences of the benefits of this policy; and I must say that ern interests. In 1816, the whole quantity of cotton pro I am sure they are all the pure creations of fancy. I know duced in the United States was eighty million pounds, of nothing in the history of this policy, and of the system worth at twenty-nine cents, the market price at that time, of imposture which is resorted to to keep it up, more ex- $24,000,000. In 1824, the quantity was increased to one travagant and unaccountable than the pretence that the hundred and forty-two million pounds, nearly double condition of the West is, or can receive any substantial be- the quantity produced in 1816; but, by the fall in price, nefit from it. In a new country--a country but partially the whole value was $21,000,000. In 1831, the quantity subdued from the wild and forest state, where the ma- was increased to three hundred and thirty million pounds, chine of production is yet in its most simple form; where at least, being four times greater than the crop of 1816, the axe yet continues to be the principal and most essen- and more than double the crop of 1824; yet, by the furtial implement of labor; where lands are the only capital, ther decline in price, the three hundred and thirty million and the produce of lands the only surplus; and where, con- pounds in 1831 were worth to the producers only about sequently, of all the States of the Union, common sense $30,000,000. It is thus shown that the great staple of the would seem to dictate the greater wisdom of the policy South and Southwest has declined fifty per cent., or oneof free trade-of permitting the inhabitants of such a half, since 1824; and that it was worth in 1831 less than country to purchase all the supplies necessary to their one-third as much as it brought in the market in 1816. If comfort at the cheapest possible rates--to talk of the wis we estimate the profit upon capital employed in the prodom of imposing restrictions upon trade, and of giving duction of cotton in 1824 at ten per cent., it had fallen to bounties to manufacturing interests, absolutely confounds five per cent. in 1831. If we estimate the profit in 1824 all reason. I am aware that Kentucky may be thought to have been six per cent., which is nearer the truth, then by some to be debatable ground. This State has a small it had fallen to three per cent. in 1831. If we go back to interest in the manufacture of hemp, of iron, and of coarse 1815, 1816, and estimate the profits upon Southern capi cottons, which may derive some benefit under the pro- tal to have been twelve per cent. at that period, we are tective system; but these are but small fractions of the real presented with the amazing result of a reduction to three sources of her wealth. I venture to say that the tobacco- per cent. in about fifteen years. Assuming the whole planting interest of the southern part of that State is of amount of capital employed in the culture of cotton in the equal importance with all the articles I have mentioned; United States to be $1,000,000,000, which certainly does but live stock is her great staple. From some personal ob- not fall short of the truc amount, a profit of ten per cent. servation of the condition of the great mass of small farm- would be $100,000,000. ers in Kentucky, I do not hesitate to say that she is one profit of six per cent., which the law of most of the States of the most suffering States of this Union under the ope- fixes as the proper and reasonable interest upon capital, ration of this system. Her real and substantial prosperity the value of the annual cotton crop of the United States does, and must ever depend upon the South and South- would be $60,000,000. rally enough, to assume to themselves the right to be consi- policy, but upon the condition of this equivalent. Ac dered the whole body, and to deride the complaints of the injured and withered members. Sir, the country which is described as so prosperous, has a further limitation besides that which the condition of the South imposes. The country of the tariff advocates reaches no farther west ward than the range of the Alleghany mountains, with the exception of a few small districts west of them. At the reasonable and moderate But the fact is that it produces west, and their ability to furnish a profitable market for to the planters only $30,000,000, being a profit of no more her live stock. Kentucky, then, like the South and than three per cent. upon the capital employed in its culSouthwest, and like the other Western States, constitutes tivation! Assuming it to be the fact that the actual ave no part of the country of the tarifi advocates. I have an rage profit upon the whole capital employed in the pro argument yet in reserve upon this point, or rather a con- duction of cotton in the United States does not exceed clusive proof, that the West was never supposed by the three per cent, and I verily believe it does not exceed leading advocates of this policy to be in a situation to be that rate, is there any example in the whole history of pro directly benefited by it. It will be remembered that the protective policy is but and upon duction since the beginning of time, of so great a reduc a branch of the American system, established in 1824. capital constituting so large a Those who conceived, and by their talents and influence capital of a country? Supposing the entire national Cap got up, this policy, had too much sagacity not to see that tal to be $6,000,000,000, as is estimated by some, the capi its operation would be injurious to the West; and an tal employed in the cultivation of cotton constitutes oneequivalent was settled upon, to be paid to that section, in sixth part of it; and will this be said to be too small the expenditures of a large portion of the revenue pro-interest to require the fostering Care of the Governmen posed to be raised by the system, upon roads and other Sir, what is the amount of the capital employed in those No Western statesman would have dared to vindicate this protective system of the country? The highest estimate I proportion of the whole JUNE 8, 1832.] per cent. have seen, made by the friends of the tariff, is $250,000,000, consistent with the general welfare of the country. Sir, one-twenty-fourth part only of the whole capital of the coun- when a Government claims and exercises the right to regu try, and only one-fourth of the amount employed in the late the pursuits and industry of its citizens, giving extracotton-planting business. And is it for the purpose of se- ordinary protection and bounties to some branches, at the curing to this mere fraction of the whole national capital expense of others; when the benefited interests shall apan increased profit, that the whole country is to be bur-pear to be confined exclusively to particular sections; and dened with exorbitant duties and restrictions upon trade, when, in consequence of these extraordinary favors and and its peace and harmony broken up? advantages, one section shall prosper greatly, and another But, in order to judge of the justice and wisdom of the decline in the same proportion; is it a matter of astonish. high tariff policy, we must look to the profits actually de- ment that the favored region shall by degrees assume the rived under it by that portion of the national capital which right of being considered the whole country on the one is favored by it. It has been over and over again admitted hand, or that the oppressed section shall begin to question and avowed that the average profits upon the capital in-the justice of the Government on the other? rested in the cotton and woollen manufacture is twenty I am aware that I am taking it for granted that the A gentleman largely concerned in manufactur- great inequality in the profits of capital and labor in the ng [Mr. APPLETON] has stated in his place, in this House, different sections of the Union is produced by the high that a less profit than twenty per cent. would be no in- tariff policy. I know that it is denied, by some, that this ducement to the capitalist to embark in the business. policy operates unequally or oppressively upon any sec[Here Mr. APPLETON explained, and read a letter to tion of the country, or upon any one great interest of it. show that the present prices of cotton manufactures would Sir, I will not insult the members of this House, by undernot yield a profit of twenty per cent.] rating their intelligence so far as to go into a minute inIt is doubtless true that the excessive importations of vestigation upon this point. I take it for granted that both cottons and woollens in the last year have reduced most of those who deny the injustice of this system, as the profits of the manufacturer in this country temporari-respects the suffering interests of the country, make the ly. But this is one of the grievances of the policy. The denial as the advocates of the established system merely. manufacturer claims to be protected by such high duties Such as are really and honestly incredulous upon this as will secure him against all the fluctuations of trade, and point, I would ask to look to the section of the country occasioned excesses of foreign supplies. They will con- which is admitted to have flourished since the year 1824 sent to be subject to no casualty; to none of the vicissi- in a degree never equalled in any country; and then to look tudes of trade. But to return to the argument. I have to the other sections of the Union, and ask themselves if beard it asserted repeatedly, and I have not heard it deni- all flourish equally. Sir, let those who doubt, hear the ed, that the profits of some of the manufacturing esta- statements which have been made here of the profits of blishments of the country have risen, since 1828, to the capital in the favored sections, and of their prosperous enormous rate of thirty-six per cent. upon the capital em-condition, and say whether those large profits are the equal ployed. If the capital employed in the manufacture of and just remuneration for the use of it, and of the labor on, which is one of the great articles protected by this set in motion by it; or whether they are derived from policy, should be less than twenty per cent., as is affirm-trade or exchanges carried on exclusively within the prosel, still the large additional amount of capital annually perous sections. These extraordinary profits, and this vested in that business affords conclusive evidence that the uncommon prosperity, we know are not the results of foprofits of this branch of business far exceed the natural reign trade. The tariff States complain that they are shut and ordinary profits of the capital of the country employed out, by the state of the markets in Europe, from particiin the unprotected branches of industry. Supposing the pating in the benefits of foreign trade in any considerable capital employed in growing wool not to exceed ten per degree; and that is made the pretext for calling upon the cent., still that is more than three times as much as the Government to create a market for their benefit by law. profits of the cotton planter. And, sir, with these facts The law has created a market for the products of particu staring us in the face, and when the proprietors of a thou-lar and favorite branches of industry, and its operation is sand millions of capital employed in planting cotton in the completely developed in the increased prosperity of one South and Southwest-a capital, too, as incapable of trans-section of the Union, and a corresponding diminution of fer or change to any other pursuit, as fixed in its destiny the resources of another. It is a law in political economy, as the building and machinery of any cotton or woollen fac-as fixed and certain as any in physical science, that all pro tory of the East, know and feel that their profits are re-fits and accumulation, whether of individuals or of commuduced to the very lowest rate at which they can afford to nities, which exceed the common standard of the profits continue to plant, or even live; and when, under such cir- upon capital and labor of the whole country, are derived, cunstances, they are taxed, their already meagre income and, in general, unjustly extorted, from the capital and diminished, and their comforts abridged, in order to se- labor of others. Now, it is admitted that the uncommon cure to other branches of industry, and to the capital of prosperity of the tariff States has been produced chiefly other sections of the Union, profits, ten, six, or at least by the protective policy, and that the continuance of this three times as high as any they receive, is it any wonder prosperity depends upon the maintenance of this policy. that they remonstrate; that their complaints become louder Can gentlemen who make this admission, still contend, and louder, until they begin to assume the tone of menace? without a blush, that the advantages of the system are Ought it to be marvelled at, that the value of the Union equally diffused? itself shall become a subject of calculation by a people But it is said that the amount paid by the people of this whose entire capital is threatened with annihilation? Sir, country, in duties upon the importation of foreign goods, in this view of the subject, it matters not whether the bur- has been necessary for the support of Government, and, dens imposed upon the planting interests be great or small. therefore, whatever grievance this tax has imposed upon If it be but a tenth part as great as is estimated by some of the South was a necessary one. It is a sufficient answer the gentlemen of the South, it is still a grievance, of to this argument to say that the acts of 1824 and 1828 were which they may well complain. But taking the fact to be, both passed professedly and avowedly not for revenue, as I believe it is, that although the planting sections may for protection. It is notorious that the tariff, as a revenue not bear the whole burdens imposed upon the country system, has long since been lost sight of. To a country by this system, yet that they bear much the largest portion whose annual income cannot be less than $400,000,000, of them, their complaints should surely be heard with in- the annual charge of $23,000,000 for the support of Godulgence, and their wrongs redressed, if practicable and vernment, and that has been the average annual amount of VOL. VIII.-212 but H. OF R.] The Tariff. [JUNE 8, 1832. the revenue since the war, is a trifling burden. If our DAVIS,] however, is greatly mistaken when he supposes revenue system were so arranged as to levy, by a direct that all the laborers of the South are of this description. tax, upon the $1,000,000,000 of capital employed in the That gentleman should know that there are thousands of cotton-planting business, double the amount of a due and freemen in the cotton-growing region, who are not the equal proportion of the revenue required for the support masters of slaves, and upon whose labor, whether engaged of Government, the planting interests might still flourish in planting cotton or not, the protective system falls with under the unjust exaction. But the grievance is, that at all its rigor. Still, sir, it is true that the largest number a time when causes unconnected with the tariff, from the of laborers engaged in planting cotton are of the kind increased production of cotton in other countries, the im-first mentioned. Those human machines, in which the mense extent of the cotton-growing region in this coun- capital of the planting region is vested, should their emtry, and the great increase of a species of capital or pro-ployment cease, would be even a greater loss to the property which cannot be otherwise employed, the price of prietors, than the inanimate machinery of the North and cotton has fallen upon an average to the lowest rate at East. They require to be subsisted, and this their owners which the planting business can be continued with any are bound to do by moral as well as legal obligations, prospect of a reasonable profit; by your protecting policy which they cannot disregard. To do even this, a large you add to a depression from these causes already too capital in lands is necessary. Sir, the capital of the South great. You diminish the demand for the article abroad, and Southwest must continue to be employed in proby heavy duties upon the foreign manufactures received ducing cotton, or be wholly sunk and annihilated. in exchange for it; and, by the same process, you raise the There is one argument, which has been used with cost of almost every article, whether of foreign or domes-great effect, in support of the protective policy, and tic supply, which enters into the consumption of the plant-which I have not yet noticed. The establishment and proing sections, above the natural standard." How comes it, tection of manufactures, in any country, it is said, is albut from the policy of the Government, that while cotton ways advantageous, because such a policy brings the conhas fallen about fifty per cent., or one-half, in value, since sumer and producer into the neighborhood of each other, 1824, and while many important articles of manufactures and their mutual convenience and profits are thereby inhave fallen in the foreign market nearly in the same pro-creased. This, it is said, has been the effect of the proportion, yet the consumer in the planting States is com-tective policy already in this country. The farmer, it is pelled to pay for them the prices of 1824? But this is not alleged, finds a more convenient and profitable market in the limit of the burden. The increased cost of the foreign the villages or factories which have grown up, or been esmanufactures paying a protective duty may be said to tablished, in their neighborhood, than they could other be a small part of the imposition which falls upon the wise have enjoyed. Sir, this is doubtless true, in relation South and Southwest. While those sections derive none to every small district in which manufactures, to any con of the benefits of protection, either in raising the wages siderable extent, have been established. But, pray, sir, of labor, or the profits of capital, they are compelled to how wide is the circle of these benefits? Within a few pay an enhanced price for every article of domestic sup- miles round any very large factory, or manufacturing vilply which their climate and pursuits compel them to draw lage, the farmers are undoubtedly benefited. Some few from the tariff States. This is upon a principle perfectly States, in their whole extent, may be benefited in the clear, however little understood generally. The high ta- same way, and in some degree. But when we come to riff system raises the price of all domestic manufactures, take in the whole compass of the Union, how grossly false besides those which are the immediate objects of protec- and delusive become all the arguments and reasoning upon tion, by reason of the inevitable tendency of all the this point, which have succeeded in converting thousands, branches of industry in the same section of country to ap- in different parts of the country, to the faith of the manu proximate each other in the rate of profit; and thus, when a great number of staple articles of manufacture are raised by the policy of the Government to an unnatural or artificial value, all others in the same section of country, by the competition of labor and capital, appreciate proportionally. There is not a Yankee notion vended in the South, which is not higher on this account. facturer. That the theory of bringing the consumer and the producer into the same neighborhood, all over this wide-spread confederacy, is perfectly visionary, is already demonstrated. It is notorious that the operation of the protective system has already been to concentrate all the principal manufactures of the whole country in a few States--into States or sections of the country always the It is said that the low prices of Southern produce, and most prosperous, from their peculiar local and commercial the small profits upon Southern capital, are the result, ex-advantages. Sir, I very much question whether the clusively, of over-production; that the depression and suf- whole amount of capital vested in those branches of manufering of the planters are the consequences of their own facturing industry which constitute the principal objects folly; and they are asked why they do not divert a portion of the protective system, in the South, the West, and of their capital and labor to other pursuits. I know not Southwest, exceeds one million. When I speak of whether the remedy here pointed out can be fairly con- the West, I exclude the western sections of the tariff sidered so much the result of ignorance, as of a disposition States. Here, again, when the advocates of the high to sport with the misfortunes of the South. Suppose we tariff system speak of the benefits which the country should answer the arguments of the manufacturers, when derives from bringing the consumer and the producer they allege that the consequence of an abandonment of into the same neighborhood, the country alluded to, and the protective policy would be to annihilate the whole which they substitute for the whole country, is that portion capital now vested in them, and to bring the proprietors of it which is admitted on all hands to be uncommonly and their families to a condition of absolute destitution, by prosperous. I will not, I need not dwell upon this part of advising them to convert the buildings and machinery be- the subject any longer. It is precisely because the bene longing to their extensive factories to other uses; what re-fits of this system are found by experience to be confined ply should we receive? One of indignant scorn, without to a part only of the whole country, that we are anxiously doubt. Sir, the capital and machinery employed in the deliberating, at this late period of the session, upora culture of cotton, (I speak of them as a mass,) are as in- proposition for relief to the suffering sections, under capable of transfer to any other profitable pursuit, as the deep conviction that something should be done, and that buildings and machinery of the manufacturers. The speedily. largest portion of the labor employed in the cultivation of Mr. Chairman, I have attempted to establish, by the cotton is performed by laborers who are the property of admission of the advocates of the protective policy, as the capitalists. The gentleman from Massachusetts, [Mr. well as by noticing some principal points of difference in |