to retaliate with a duty of half per cent., and a third to demand nothing at all, which of them would have the greatest run of business, and most custom? There is no substantial difference between this instance, and that of commercial nations, and the true policy of the United States most assuredly is, at once to throw wide her ports, and by drawing to herself the custom, and the carrying trade of the world at large, to give to American industry the only encouragement her free-men should deign to ask, or condescend to receive—an open field, and no favor.
In adjusting the tariffs, at this rate per cent., and for revenue merely, the principles for fixing the duties, are thus stated:
"1. That the collection of them may be as little inconvenient as possible to the importing merchant.
"2. That they should be so moderate as not to add much to prices, and thereby diminish to a large amount the consumption of the goods on which they are imposed."
Appeals are constantly made to the pride and patriotism of our citizens, in aid of the protective system, on the plea of encouraging American industry; and this ad captandum pretext, we are persuaded, has gone further with the people than conviction through knowledge, or reflection upon the subject. It involves one, or perhaps all, of three absurd principles—either, our government is supported by taxes which are paid by foreigners; or, they send their goods to us gratuitously without receiving any thing in exchange; or, to tax the industry of eleven million five hundred thousand consumers, for the benefit of five hundred thousand manufacturers, is for the good of the whole nation.
"This is a most important point to attend to," says Sir Henry, "because as the only means of paying for imported goods is by exporting the domestic productions of industry, every restriction upon importation is really a restriction on industry; and on the contrary, every encouragement to importation is an encouragement to industry."
Foreign manufactures are obtained, how? Unquestionably by, and for the products of American industry. The moment the barter, or purchase, is made, the American industry is infused into the foreign articles. Where these are cheap their consumption is increased, and American industry is stimulated, and encouraged to obtain additional means wherewithal they may be purchased. That is as much American industry which, with its earnings buys foreign manufactures, as that
