should declare that all power looms and spinning jenmes should be abau- doned, and that nothing but the spinning wheel and old fashioned hand looms should be used, as decreeing positive loss? And why? Because it would be pursuing more laborious, and consc- quently more expensive process of ar irving at the same end2 It matters not whether the cheaper production be car fied on in q foreign country or not. Fo- reign articles cannot possibly be obtain ed putin exchange for domestic articles, and the consumption of foreign goods can only take place where an equal val JIG oi domestic goods has been exported. There is however this difference be- tween them. Under the free trade sys- tenn, Peter would have been compelled 10 work only one day for yard Of cloth, {supposing wages at dollara day, but under the monkey system, he would be compelled to work two days, and he would very probably think this hard ship. "No," says Paul, ssit is good for you to have to work two days fora coat, instead of one, for thereby twice as much American industry is kept in mo- tion.'' ranted,' says Peter, ..but | might as well be occupied in turning grlndstone without having any thing to grind, for one of the days, under the monkey system, if the result of the two days work is no more than one would be under the free trade system It is thus demonstrable, that under the A. merican system, the produce of the la Dor of the whole people, is not as great as 1t would be under the free trade sys- tenn, and consequently the share of the good things of this life which falls to the lot of each, is not as great. Like the monkeys of Exeter Change, each man, woman, ,and child, gets less than if each were to be content with whatwas in his own pan, and let his neighbours alone.