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In the competition WHICH NAV exist H. E.fup. {: hIit
II would be- -jl restricted 10 that Comu-' .ion. By
the existence o. manufactures, IN Ire CnI'r >tlte-,
al additional compettoa is cfear-d. a,d this new
competitor enters the American Marser. cunJrHding
for !; " iIh tie previous European competitors The
result ~ All increase IN the ag-feght- Cf supply and
consequent reduction o Price. DuT il has tern ur-
ged. t!.s.l TIE fabrics mangircrureG in America H.
tire place Only oi E!hav which mad tesn b'iore
manufactured in Europe; Iii.! ihr'r s no greater
consumption IN consequence OF de home 'naDGisc-
tnfe Than would exist without IT and tEai II is i'm
material TO the consumer whetner the theatre OF
manufacture be Europe or the United States. But
think ih;s i extremely contracted and iall.-
clous view OF the SUBJECT. Consumption Is greater
in consequence OF the existence Ci manufactures III
home. 1'hev create II demand for labor, which
would not exist without them, and t- employment
o. labor CT Gates an ABILITY 10 consume, wh oh would
not exist without il. How could The American la
nor emplo, ed IN manufactures, at home, supply liz
consumption OF European commodities. II II were
deprived OF lnar employment! ! What means Of
purchase wuuld ii possess IL i in VAN 10 point 10
Agriculture ; for every department OF that is al.
ready producing sup@r-abuudantly. II Cannot br
questioned thar The chie cause @: he reduced prc'
ni Cotton is The excess OF production. The Pnce VI
II would rise, If less produced, by diseIIns h
portion oi i- al,ur cmpo, ed in lis cultivation 10
some Other branch of Industry. This new pursuit
would furnish new sni eCIe of exchange, ana those
might embark in II, eli as those Who would
continue in the growth of CGt!oG would he both
ben-ired by mutual exchanges. The day will Genie
and is not distant. ~hru the South will rel im-
perarive necessity voluntarily Ia make such diver
sion of portion of ts labor. Considering The
vast water power and other facilities OF manuiactu-
rlng now wasting aud unrmplnyrd at the South
and it possession al home, o the choice of the
naterial. believe The day vii come when the c.
rceion will be the greatest manufacturing region
of Cotton in the world.


Tne power of CONSUMING manufactured articles
being increased, IN consequence OF the domestic
adjustment OF manufactures by the wages of laho
which they employ. and BY the wealth which they
create, there Is increase also in ,i- use and con
sumption of Cotton and other materials. To
the extent of that lncreaSe The Cotton grower is d.
recrlv and positively benefited bv the location Of
manufactures NJ home instead OF abroad.


But suppose it were true that the shifting 10
certain extent of the theatre OF manufactures from
fnreign countries TO our own did not increase con
sumption AT all, aud did not augment The dcmanG
or Cotton, there would he no Just ground ot com
plant with the Cotton planter, aud Tie most rhar he
could saw is, that it would bc matter OF indifference
to him. All that would happen to him would be- n
substitution OF certain number of American Gus
toners, for an equal number of European customers.
But ought it br, can ii be, natter uiindirTence
10 him. whether any portion OF his fellow ci lZens III
The United Stutes nre in state OF prosperity ad
versity? II, without prejudice 10 him, his own
country men can acquire part oi the wealth which
arises ont of the prosecution OF maDufacting indus
try, instead of the foreigner, ought he not To rejoice
NJ it Is it to him matter oil no consequence that Il
certain amount OF wealth, created by manuidctu
shall be in his own cnunry n>;end OF being IN tor
-gn countries It here, lis influence and eircr,
will be felt, directly indirectly, in all the depart
ments of human business, and in Il greater or less
degree in all parts Of the country. IL becomes Il


tl,o tfI, tlo
increasing lis resources, and forming basis OF tax
alton aud revenue III ui WAT or peace II ne
eessarv.


But the advantage resulting from domestic man
niactures, in producing an American cunp-ilI"r.
with The European competition, nnenrnlng thr
,upplr oi manufactured articles, and rrndms con
-equ-utv 10 II reduction oi prices < not the sol
advantage, great as lint l.. double market l.
produced roth in The purchase of fabrics for con-
sumption, ana IN The safe at productions %, A@r'-
curturr. Ana h0w superior ls The home 10 mn,
n;ler market in the conditions oi lis proximity III
Aeing under our oSn control. and H. exemption
from the contingency nj "a:' II has been argued.
nowever that we sell no NOR than We should dn Il
Ae were deprived oi lfr home market have
shewn that 10 hr otherwise. The importance ~
opening nen' markets is UNIVERSAL, admitted. II IL
an oliect oi lh- poilcy of all nations. II We con'd
open new market lnr 4i0.000 hars of Cotton w,tr
any foreign power should We not gladly embrace
I Every one owns me DEMENT, "OCli HTlSts "'
various markets. All who reside IN lin neighhor-
hrod Ut large cities or MARKET 10 >ms, are s-i-ibr
ul The advantage. II j. sad that our r;i-in.io nr"
absorb ONLY about 100 OUO bales ol CvUn. wicn
l. n very small part o me total crop. Rn' suppnst
that were thrown upon The market oi Liverpool, n!-
ready ovrr-tncked end gluilcd! itwnuld sInk l'
prize far below what IL now is. France consumes
also ahont 100000 bales. II the market oi Hd'rr
we're closed. aud thai quantity were croHdrd n''
The market of Liverpool. would not the eirct be ~
nous Ia the Cotton growerl Our Amencan mar
ket Is growing, anauuiy increasing anf, II iht
pocv ol The counny can ouls become manly hA-u
The time will come. have no doubt, when the man
ufacture OF Cotton in thr United States vii! exceed
that of England | do not desire to any market
closed, domestic foreign. think II our true III
Ierest 10 cherish and cultivate ali. Bat believe II
10 be our indispensable duty 10 afford proper and
reasonable encouragement 10 our own.


But il must be borne in mind Ilat although Cot
ton is by far The most important OF our agricultural
products, il is not lhe only one. Where should we
lind market for our Indian Corn, II II were not oF
the existence OF our manufactures We should alb
solutely have none Nv friend, Mr.. Petiigrew, who
sils before me, can find no market for his corn II
North Carolina because his neig hb0rs, like himself
are occupied in producing il. Nor can lie lind any
IN foreign countries. But he meets with geod
aud convenient market in Boston aud Provi
ience and other Northern capitals. Where should
we seek market or lie Hour, pio'iSIoHs anu othei
raw agricultural produce now consumed by ouI
manufacturers II their prescn, business were de-
stroyed, they would be employed themselves in pro-
ducing Cotton, corn, provisions iand other agrlcul
tural produce, thus augmentiDg The quantity and
IN, ariably leading fart her decline OF prices.


Ii has been commended that the effect oil af1ordlns
legal encouragement Domestic Manufactures Is
10 enhance the prce Of commodities and u impose
lax upon the consumer. This argument has been
a thousand times refuIed.


Ii has heen shown gain and again, that the price
al almost every article, winch the system OF en-
courasement has ffectuay OPERATED, mas been re-
duced 10 the consumer. And lhis was The necessary
consequence OF that law OF supply aud demand and
that principle Of competition 10 which | have beiorr
adver,ed. II was oreiold long ago BY mysef and
other friends OF the policy. Blu, ii s in vain that
appeal facts. Its in vain that take up article
ny article, and comparing present with former prices
show the actual and gradual reduction. The free
trader has mounted his hohhy. and h- has determined
10 spur and whip him rough shod. over all facts,
obstacles and inpedmenls that lie in his way. 1t
was but The other day, heard OF one Of these FIRE
trade orators addressing an audience, and depicting.
in The pianve aud doletul terms the extreme
burdens and oppressive exnctions arising OF the
ahominabe Tamil. Why, says he, ellow-cIizens.


