Abridgment of the Debates of Congress, from 1789 to 1856.

176 ABRIDGMENT OF THE H. OF R.] The Tariff-Compromise Bill. [FEBRUARY, 1833. ital in the North; nor mention the cotton, on that a tithe of this whole excess shall annually which their great fabrics now so much depend; be taken away, until at the end of ten years no in all amounting probably to $10,000,000 an- impost shall remain at a higher rate, on any nually. This omission is made because the great, commodity, than twenty per cent. on its value. rich, and independent manufacturing capitalists The taking away a tenth part of this protecof the North can and will stand their ground, tion, annually, will, in two or three years, so though they will stand that ground alone, under expose the middling interest men, concerned in the provisions of this bill. When those pro- manufactures, to the first effects of foreign comvisions shall be carried out into perfect opera- petition, created by excessive importation, that tion, as they will be at the end of ten years, they must give up the conflict, and submit to the great, independent, manufacturing capitalist the ruin provided for them by this measure. will then not depend on the South for the raw This will leave the war of the trade in the materials which he can then bring from any hands of capitalists, who can afford to lose; country at a mere revenue duty of twenty per and, outliving those losses, which ruin the less cent.; a tax of no importance to him, because wealthy, they will take all the benefits resulting it must be paid finally by the domestic con- to them, as the survivors of their ruin. That sumer of his fabric. Nor will the Southern ruin, and the certainty that all protection will planter then depend, for he does not now de- terminate at the expiration of ten years, will pend, on the domestic market, for the sale of discourage all owners of small, or middling, or his great staples. These two classes, the rich even great capital from embarking in these owners of great manufacturing capital in the manufactures, and will leave the whole concern North, or of capital in land and slaves in the to the over-wealthy now engaged in this busiSouth, are perfectly independent of each other's ness; these fortunate men, united with foreignproduction, by the provisions of this bill; and ers, will continue the trade, and supply the may stand with perfect impunity, under those market. They will do this at such a rate of provisions of this measure, which must be so cost to the consumers in our country, as may ruinous to all those, at this time, operating be charged upon all manufactured fabrics sold with that limited capital, or employed in those in our market by the producers of such fabrics various labors, now encouraged or protected in foreign countries. Whatever the cost of by that system of laws intended to be destroyed them may be in England or elsewhere, to that by these provisions. cost will be added the cost of importation, not How do the provisions of this bill ensure the less than fifteen per cent., and in like manner destruction of that system? By the utter the amount of impost, twenty per cent., will so abandonment of even the very principle of dis- much further enhance the whole cost to the crimninating, countervailing, or protecting duties American consumer. The wealthy capitalists, of impost on imported goods, wares, and mer- the only surviving manufacturers of the North, chandise. At the end of ten years these duties, then exempted firom all domestic, will receive that is, the whole system of imposts, are to be the full benefit of foreign competition-a comreduced to twenty per cent. ad valorem, and to petition which, in its first movements, by exstand at that rate upon all imported commod- cessive importations, will have ruined all comities, such as are produced in our own country, petitors of limited capital in our own country; by our own domestic industry. So utterly is and will thus finally enable those men, more protection, in its very principle, abandoned by abundant and independent in their means, to this bill, that if more revenue shall be wanted share with the wealthy manufacturer of other than may be obtained, by this rate of impost nations the spoils of our consumption, taxed, on protected commodities, such impost shall as it must then be, by the final effects of this not be raised on such commodities above twen- measure, with not less than thirty-five per ty per cent.; but such impost for such revenue cent. more in amount, for our whole supply of shall be placed on tea, coffee, and other articles manufactured fabrics, than would have been unprotected, because not produced in this coun- their cost, if wholly furnished by domestic protry; and such impost may, for revenue, be duction, under that system of encouragement raised up to twenty per cent. This bill, there- and protection, and domestic competition, which fore, not only takes from all the free labor of the provisions of this bill are intended to dethe free States the whole benefit of the present stroy. system of encouragement and protection, but This evil will fall on the whole country, and may, and doubtless will, in its progress, still will be a just retribution for the cruel and unfurther discourage such free labor by a heavy relenting ruin which this profligate measure tax placed on the imported food of that labor; will have brought on the many hundreds of tea, coffee, and sugar-a tax from which the slave thousands of free white working men, now emowners of the South will be exempted, in respect ployed in the mechanic, manufacturing, and of all their labor; because neither tea, nor cof- agricultural labors of the free States. When fee, nor sugar, is ever consumed by the slaves. the domestic manufacturers, the owners of the This bill provides concerning all impost on mills and machines, by the working of which any protected commodity, that whenever such those men now earn their bread, and that of their impost exceeds twenty per cent. ad valorem, all families; when these owners find they must sursuch excess shall be divided into ten parts; and render a tenth part of their protection-a tenth

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Title: Abridgment of the Debates of Congress, from 1789 to 1856.
Author: United States. Congress.
Canvas: Page 176
Publication: New York, [etc.]: D. Appleton and company [etc.]; 1857-61.
Subject terms: United States -- Politics and government

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Abridgment of the Debates of Congress, from 1789 to 1856.

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