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sccGre to domestic labor and domestic enterprise
III ALI HRANcHts II sure and co>apetcnt reward by
securing ~ them L CERTAIN and AMPLE MAREET for
their productions. IhiS is the only legitimate
Office of Protection. 1t is the fuicrum upon
which the lever of Protection rests. So far from
raising prices to the consumer, it is the ceriain
means o.; reducing them, IN the final result. II
is here that the great and Fundamental! error of
Gen. Mckay's report begins. 1t is in starting


from false premises III this particular that hls
whole argument and conclusions erroneous.


THIS can be demonstrated beyond the posi-
bility of contradiction. In every branch of bu-
sincss there certain preliminary expenses to be
encountered. Every ono must have place for do
lng his business. ilcmust cmpcya certain amount
q; capital to conduct it. The iarmcr must have
his farm, stock, and implements; the merchant,
his store, his ships, and ms capital; the manu-
tacturcr, his establishment, and on, III all tho
various branches of industry and enterprise
which divide and occupy the business world
No matter whether the parties own their re-
spcctive establishments or not. The result
will he more conveniently illustrated by con-
SdeIing these preliminary expenses IN the
form OF reHt-to which add the interest Of The
capital necessary for current expenditures, IN
conducting the business; and the total will form
! an amount, which must be G0nGai{y rsdti@eG,
before the parties concerned can receive one cent
even for subsistence


AS manufactures are now the leading subject
of discussion, will take cotton factory for
Illustration. And VIC will take one OF the smaller
class, Us most favorable to our opponents, beng
the least dependent on protection. For the lar
ger the capital the more diIusod will be the pro-
cecds, the slower the returns, and the business,
consequently, more subject to shocks and
. iurtuatnpu n-onurcl nv
/ We will then take i cotton factory, with all It's
machinery in ample order, ready TO commence
opcrations-thc rent of which, with the interest
on 50 much capital as will suffice to purchase
stock pay laho.cls, Sc shalt be one thousand
dollars per annum.


Now if the manufacturer, III such case can find
a market for only 1909 yards of his CLOTH 1t Is
clear that he must sell it for dollar per yard
in order to pay his preliminary expenses and yet
not obtain one cent for cost OF raw materials, la.
Dor, or his own subsistence. If he can procure
market for 2000 wards, then he must sell At fifty
cents per yard, merely to cover the preliminary
cost. If he can sell 0,000 yards, then the pTclim-
mary cost will be ten cCntS-to which add the cost
of raw material and labor, being abou, four cents
per yard, and he can sell his fabric at II cents
per yard, and clear cXpcnses-but without cc:.t
left for his subsistence. Now suppose, in this state
of things, by means Of Tariff shutting out, IN
some degree, the foreign article, he suddenly finds
his domestic market extended TO 100000 yards.
This will make u charge fonly one cent per yard
upon the preliminary fund; to which add the four
cents for the raw material and manufacturing the
article, and hc can now afford his fabric at five
cents pc. yard, with precisely the same cost to
himself, as when he was obliged to demand four
teen cents, with Il market Of only 10000 yards.
Bu, let his market be extended to 100000 yards
per annum. Then the prcllmary cost would be
but one ml-to which add the four cents tor
nanulacturing-an now allow him one mill for
profit, and hc could sell his fabric at four cents
and two mills per yard, and realize one thousand
dollars per annum as reward for his entcrprlzc
and industry.


Examples might be multiplied through the
whole range of successful industry. We will add
but a single case whc! may convince, wh3rc ar
gumcnt would fail. Suppose members OF Con-
cress were not allowed mileage, or any other CON-
pensation but for the time actually spent IN their
respective Halls. Then, should Congress sit but
one day, during tic whole period oil Gen Me
kays official term, and his travelling AMI incl
dental expenses amount TO S200 with such
limited market for his official services, he would
be obliged TO charge enough for that one day, TO
cover his bills, at lcast-or, like our unprotected
producers, give up business which promised no
reward, but bankruptcy and rum! But should
the sitting of Congress be prolonged some two,
or three hundred days-he would be able 10 af
ford his valuable services at the reduced price Of
eight dollars per day and find legislation pro-
fiabie business. This Illustration, al least, 1t is
presumed the Hon. Chairman can understand II
he cannot the people can, and will remember II,
ON the " Ides OF November next.


This operation is the secret and the 1rhotG Sc
crct of tho success of all those branches which
have received Gdcqnate protection. When the
importer has been Obliged 10 pay such pricc tor
the use of our markets, in the shape OF Il Duty as
would materially reduce his profits, or make 1t Il
losing business 10 himself, hc has withdrawn IN
whole, or in part, and 50 far left our market open
for the increased supply OF domestic productions
The consequence has been, that despite OF all inc
calculations and predictions OF those political Geo.
mis,s who remain welded to their old errors
despite of all the dogmas that The market price
10 the consumer is made up OF the total OF all le
CHARGES on importaton-ln spite oil all these inc
protected articles have continued to decline IN
price, exactly in proportion us our own markets
! have been extended, by the rcance@ importation
of their foreign rivals


Such has BEEN and such will ever continue To
be, the operation of this system, upon all articles
which this country no,c produces, or which, with
suitqjie encouragement it is capable OF pro-
ducing, in abundance, for the supply OF our own
market Many articles of domestic manuac-
ture have already progressed, until they have not
only attained this point, but are annually yielding
surplus, which is boldly facing comPet'uon IN
foreign markets. The Treasury returns, for the
last fiscal year, show that, even III their infancy
our domestic manufactures to The amount OF eight
millions four hundred and ten thousand SIX hun.
drcd aud ninety. four dollars have been exported
TO ditcren, quarters of the gl"bc-an amount cx-
ccedIng by more than enc million OF dollars lhe
sum total of all the dgur sent by us to all 'he
corn,rics in the world! And let it be remcni-
bcred too ,ha, to this export of domestic manu-
lac,urcrs we arc principally indebted for that ba-
i,,cc or ,rade IN our favor, which under the pre-.
sent Tariff, has brought returning prosperity to