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pable change in the general state of affairs, the failure of the harvest now has been looked to with an interest scarcely less great than that which it excited before, when so many collateral causes conspired to heighten its effects. That the artificial enhancement of the price of any article of necessary consumption diminishes the consumption of most other articles less necessary to sustain life, is certainly true, and such is eminently the case with the corn of England, which now is the only article that enjoys the "protection" of the Government. The protection afforded to corn by legislative enactments is so closely interwoven with the social structure of Great Britain as to make its modification a matter of extreme delicacy. To counteract its effects in times of a short harvest, very important reductions have in the last three years been made in other articles of consumption. The amount of taxes thus remitted is over £5,000,000, or $25,000,000 nearly equal to the whole customs revenue of the United States; and the

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leading articles that have been bene fitted by it are sugar and cotton. On the latter the duty removed was about twelve per cent., the general principle being to promote consumption by diminishing the cost of production, that is to say, by bringing a greater quantity of necessary articles within the cash wages of the consumers. This principle is not only fully recognised and acted upon in England, but in the United States the largest commercial operations are governed by it. failure of the English crop is universally looked upon as a calamity, because its effect is acknowledged to be to diminish the consumption of cotton, and by so doing to reduce the price of the raw material, and thereby undermine the means of the planters. Now, the consumption of cotton in England, that is, by the inhabitants of Great Britain, is not greater than that consumed by those of the United States. This is indicated from official returns, as follow:

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This is equal to a consumption of all sorts in Great Britain of 345,000 bales, at an average of 400 lbs. each. The quantity taken by the United States manufactures last year was stated at 389,006 bales, and the import was about 23,000,000 yards, about equal to the quantity exported.

Now it is observable that the increase of the consumption in the United States is not more than equal to the increase of the population, as thus: The decennial increase of the population of

347,461,305 lbs.

124,246,808

the United States, from 1820 to 1830, was 33.26 per cent.; from 1830 to 1840, 32.67. This would give a ratio of increase from 1840 to 1850 at 32, which would give an increase of 14.89 for five years on the population of 1840, which was 17,069,453. The increase is, therefore, 2,541,641, making the population of 1845, 19,611,094. The quantity taken for consumption reduced to yards, at the rate of 3 1-5 yards to a pound, shows a consumption in the United States as follows:

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It is observable that the quantity laments the casualty which reduces the taken for consumption in the United English consumption of cotton 100,000 States is the whole quantity taken by bales; but many regard with indifferthe manufacturers; and the stocks ence a course of government policy they hold this year are represented as which checks the consumption here very large, that is to say, eight months' 150,000 bales. It has become the consumption; and the exports have in- policy of the English Government, creased by all the surplus made above notwithstanding its great financial nethe wants of the home market. Now cessities, to remove entirely the duties the effect of the tariff has been artifi- upon those articles the great consump cially to sustain the price of cotton tion of which is necessary to the nagoods far above the natural level they tional industry. Raw cotton was such would find proportionally to agricultu- an article, and it abolished a duty ral produce, if left to a free competi- which produced a net revenue of tion. The effect of this artificially high £680,000, or $3,400,000. The object of price has been to diminish the consump- so great a reduction was, by reducing the tion of cotton in the United States to an cost of goods, to promote the consumpextent quite as great as that produced tion of cotton. If now we reflect that in England by a failure of the harvest the great evil of the South has been a there. The markets, therefore, pre- superabundant production of the raw sent the singular contradiction of a material-that is to say, that they have universal lament over the effect of the turned out quantities greater than even harvest on cotton, while a cause exists the vast capital of England, and the here in the operation of the tariff great machinery of her colonial governequally as potent in reducing the value ment, could find a market for-it beof the great staple as that complained comes apparent that it is the duty of there. It will be remembered, in of the United States Government to what we have shown in the first part promote the consumption of cotton by of this article, that, from the sound con- all means in its power. Now if the dition of commercial credits now as principle that low prices promote concompared with 1837, the effect of the sumption is true, and we are not aware deficiency in the harvest is confined to that it is disputed in any intelligent the actual diminution of consumption quarter, the examples of British imin England. The consumption there ports being far too numerous, it certainis equal to 340,000 bales; in the United ly becomes a matter of urgent necessity States, 380,000 bales. The failure of for the United States to remove any the harvest there may reduce the con- obstructions that may stand in the way sumption 100,000 bales, and the high of an extended consumption of the raw prices caused by the tariff here checks material in the United States. Such it probably 150,000 bales. That is to an obstruction most certainly does exist say, with a good harvest in England, even to the point of prohibition in the and a low tariff here, the consump- existing tariff upon cotton goods. In tion in the two countries will be 250,000 illustration of this, we will give, from bales greater than when the harvest is actual transactions, the duties paid on deficient there and high duties raise cotton goods at this port at three pethe prices of the goods here far above riods, viz., in the spring of 1842, under their relative value to the products of the last reduction of the Compromise the industry of the consumers. Now Act, in 1842, and under the present every merchant in the United States tariff:

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This invoice was mostly of fine sent tariff, would have been much worsted and cotton goods. Had they higher.

been all cotton, the duty, under the pre

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The average cost and duty on several descriptions of goods are as follow:

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U. S. Cotton. Total. Increase.

1,224,199 1,427,934 130,268 941,940 1,187,190 188,370 714,690 937,490 36,890

The failure of the English harvest in

The import increased 130,268 bales, and the stock increased but 36,890. If the present circumstances of Europe, now, through the enhanced consumption of the United States, there had been 150,000 bales less to export, the supply would have been short in England, and the price at least affected 1 cent per lb., through the whole export. The result would have been a profit of $4 per bale additional, which, on an export of 2,083,756 bales, would have compelled the foreign manufacturers to pay $8,335,020 more for their raw material; and this amount may be fairly charged as the positive and direct loss which the planting interest sustains through the strangulation, if it may be so expressed, of the consumption of cotton goods in this country, under the weight of the present duties. The enhanced prices that they are compelled to pay for the goods they buy, form an additional tax upon all classes. It is. alleged by those who advocate the retention of duties to favor the domestic manufacture, that home competition will, sooner or later, bring down prices. Experience has proved the fallacy of this supposition. For twenty years protection has been steadily pursued, and yet, at the present moment, goods can be imported from England and sold here with charges amounting to 100 per per cent. added. The corporate character of the factories, and the large capital required to establish them, confers on them a monopoly, which, as long as they are protected by the tariff from the competition of similar concerns, and larger capitals in England, defies rivalry here. What we have here said in relation to cotton applies with greater or less force to all other imported goods, and these circumstances are the chief cause of the small comparative trade which exists in the midst of the unbounded natural wealth of which the country is now possessed.

which this year produces, as a great
whole, no more than it will want for its
own consumption, makes Great Bri-
tain chiefly dependant upon its North
American colonies and the United
States for whatever it may want to
supply its deficit. It does not appear
as yet that this deficit in Great Britain
itself is so great as it has been in some
bad years heretofore; but a great cala-
mity exists in the failure of the potatoe
crop of Ireland, both because of the ac-
tual loss which a bad harvest in any
country is to the world, and from the
fearful circumstances which attend such
a calamity in Ireland. That misgo-
verned country has for near a century
had the largest portion of the proceeds
of its industry drawn from it for the ex-
penditure of its absent nobles and gen-
try in London and elsewhere, and for
taxes and imposts. The result has
been such a lack of capital and em-
ployment in Ireland, that for a long
time most of its sons have been com-
pelled, at an enormous rent, to hire an
acre or two of land, from which to raise
sufficient potatoes to last a year. Pro-
bably some 600,000 families are so si-
tuated, and these suddenly find them-
selves cut off from that supply, with-
out being able to make their labor avail-
able to provide a substitute, or being
possessed of reserved property in any
shape, wherewith to procure other food.
A dire famine stares them, therefore, in
the face as soon as the scanty crop shall
have been consumed.
In such an
emergency, the odious corn laws of
England are, apparently, about to be
subverted, and open ports for the
breadstuffs of the United States may
become the precursor of a general free
trade. If so, the calamity that afflicts
Ireland may be fraught with great
future benefits to that suffering people.

NOTICES OF NEW BOOKS.

THE ANNUALS. The gift-books of the present season commend themselves by the usual attractions. The most beautiful in an artistic point of view, is the Diadem, a handsome quarto, published by Carey and Hart. There are several exquisite engravings in this work, from original paintings, by Inman and Leutze. latter indicates the same chaste genius The which won for his "Landing of Columbus" so many admirers. In the vignette designed by him for the Diadem there is grace in the figure which represents the Angel of Gifts, and a depth in the eyes rarely encountered in illustrations of this nature. The Page, by Inman, is worthy of his high powers, and has been done justice to by the engraver. Indeed there is not a mediocre plate in the collection. The literary contents are by Hedge, Brooks, Emerson, Miss Lynch and others. Rev. Mr. Furness, of Philadelphia, contributes an able essay on Genius, and in the preface pays a feeling and deserved tribute to E. L. Carey, under whose auspicies the volume was conducted, but whose life was not spared to witness its completion.

The Opal, published by J. C. Riker, of New York, and edited by John Keese, is printed with remarkable neatness. A portion of the literary contents will be found quite superior to that which makes up the ordinary letter-press of Souvenirs. This number of the "Opal" far surpasses its predecessors in mechanical execution, and intrinsic value. There are tales by Mrs. Oaksmith and Mrs. Embury; some vigorous and meditative verse by Whittier. The other contributions are by Paulding, Schoolcraft, Hoffman, &c. The illustrations are by Chapman.

The Missionary Memorial is the title of a somewhat novel species of souvenir. It is made up of what may be called the literature of missions. The articles refer

to the scenes of missionary enterprise and to the sufferings and rewards of its votaries. To enliven its pages, poems and sketches of a less grave character are occasionally introduced. Several distinguished ornaments of the church have contributed to this work. We find the names of Sprague, Alexander, Spring, Choules, Baird, &c.; also Lowell, Mrs. Sigourney, Griswold, Sargent, Hoyt and Briggs. In point of paper, typography and illustrations, this annual is quite as original as in its literary design. There are but two illustrations, but they re better than twenty of less merit. e is the first specimen we have seen in

this country of printing in oil colors. The
vignette represents an Indian locanda.
The paper and type resemble those of the
best English works. This work is said to
be edited by a gentleman whose contri-
butions to this review alone sufficiently
evidence his taste and talent, and which
published in a collected form.
we are happy to learn are about to be

Scenes in the Life of the Savior is a superb volume, with select poems from the best sources, and fine mezzotint illustra tions.

The name of the same prolific editor we It is edited by R. W. Griswold. find upon the title-page of the "Christian Annual"-a felicitous selection of articles from foreign and home sources, relating to sacred localities and holy themes.

Sketches of Brazil, by DANIEL P. KID-
DER, in two volumes.
Philadelphia:
Sorin and Ball. 1845.

These volumes are graphic and entertaining. They comprise sketches of the scenery, customs and history of a portion of the globe where nature has lavished her beauties in profusion. The attention of the author was previously directed, as he states in the preface, to morality, education and religion, which, as a Chris tian minister, it was his duty to investigate. His facilities for acquiring informa tion were all that could be desired. For political documents he had access to the archives at Washington, the memoirs of the Historical Society at Rio de Janiero, the manuscript of his colleague, Rev. Mr. Spaulding, who resided six years at that place, &c. The books embody considerable authentic and interesting information, and will amply repay the perusal, whether the reader coincides with the author's opinions or not.

Poetical Works of James Montgomery, with a memoir of the author, by the Rev. RUFUS W. GRISWOLD, in two volumes. Philidelphia: Sorin and Ball.

1845.

Montgomery is a poet much beloved among a certain class. His devotional spirit and simplicity make him a favorite with many who cannot relish beauties of a more exquisite and elevated character. His influence is quite unexceptionable. and at times his pathos and descriptive power remarkable. To the religious world especially his effusions are endeared; and the number of cheap editions of

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