80,000,000 of dollars annually, after paying for the raw material. The reason why the result of this calculation so far exceeds the proceeds of the labour of the 100,000 manufacturers, in 1815, as stated in page 168, is, that the machinery of the establishment near Boston, has been brought to the last degree of perfection—and the power looms which afford immense facilities to the operations, were very rare in 1815. It cannot escape the attention of even a cursory observer, that all our calculations of the results of the cotton manufacture are predicated on low priced fabrics—and that the profits on the high priced are far greater. A large proportion of those imported from Great Britain are of the latter description. This greatly enhances the profits of the manufacture. It results from hence, that far less than 100,000 Manchester cotton manufacturers, principally women and children, would be able to pay for the whole of the exports of this nation, containing above 9,000,000 of people! There are probably at this hour from 30 to 40,000 persons, skilled in this branch, idle in the United States, who could produce, according to the preceding calculations, cotton fabrics to the amount of 25 to 30,000,000 of dollars annually. What a lamentable waste of industry! Who can ponder on these facts without astonishment at the impolicy of our system, which, under the auspices of Adam Smith, has sacrificed the labour of ten, twenty, thirty, forty, fifty, or sixty of our citizens for that of one foreign manufacturer? If the absurdity were capable of being heightened, it would be by the circumstance, that the dearness of labour is so frequently assigned as an argument against our fostering manufactures. But surely if our labour be so dear and valuable, we ought not to squander it away thus prodigally. Can it, therefore, be a subject of wonder, that we are an impoverished nation-that we are drained of our speciethat our water power has been, by a bounteous heaven, lavished upon us in vain-that so many of our manufacturers are beggared and bankrupted-that our workmen are wasting their time in idleness-and that those artists and manufacturers, who, unfortunately for themselves, have been allured to our coasts, by our excellent form of government, have either returned to Europe, gone to Nova Scotia, Importation of Cotton into Great Britain. 175 or Canada, or are obliged to resort to servile employments to support existence? We now submit to your consideration, fellow citizens, an important table of the imports of cotton into the British dominions, for seventeen years. The first fifteen are taken from Dr. Seybert's Statistics,* and the remaining two from the Journal of Trade and Commerce.t Table of the Importation of Cotton into Great Britain. American Other Sorts No. of bags. 1803. 1803. 1804. 1805. 1806. 1807. 1808. 1809. 1810. 281,383 238,898 241,610 252,620 261,738,282,667|168,138 440,382 561,173 American No. of bags. 1811. 1812. 1813. 1814. 1815. 1816. 1817. 1818. 128,192 95,331 37,720 48,853 103,037 166,077 198,917 205,881 To the intelligent cotton planter, this table furnishes matter for most serious and sober reflection. It seals the death warrant of the hopes which he lately cherished of an increasing market and continued high prices in Englandand, independent of all care or concern for his fellow citi. zens, engaged in the cotton manufacture, establishes the necessity of securing a steady market for his raw material at home. The following analysis deserves peculiar atten tion. I. The importation of American cotton has not quite doubled in sixteen years. II. East India cotton has in the same space of time increased 3000 per cent. III. United States cotton has increased but three per cent. in the last year. IV. East India cotton has increased in the same time 110 per cent.; and the total increase of importation in that year has been 55 per cent. * Page 92, † Feb. 1819, page 113. V. Brazil cotton has more than trebled since the year 1808. According to the report of the committee of commerce and manufactures, which we have quoted above, the consumption of cotton in the United States in 1805, was only But in 1815, it rose to bags 1,000 90,000 lbs. 27.000,000 So rapid was the increase of this manufacture, with no other protection than that afforded by the war, in excluding foreign rivalship. Dr. Seybert states that the greatest amount of cotton ever exported from this country was 93,000,000 pounds in 1808.* The whole quantity exported in 1815, to all parts of Europe, was about 81,000,000 pounds.† It thus appears that the quantity actually consumed by our manufacturers in 1815, viz, 27,000,000 lbs. was equal to onethird part of all we exported in that year-and what is still more extraordinary, it was actually one-third part of the whole quantity imported in the same year into England, the most manufacturing country in the world! And it will not, we trust, be doubted, that a moderate degree of protection would have increased the home demand to such an extent as to consume the whole. What inexhaustible mines of wealth, far beyond those of Golconda or Potosi, have we in our power! How lamentable a sacrifice we have made of them! and how prosperous and happy should we now be, had we made a proper use of them! In order to enable you, fellow citizens, duly to appreciate the advantages that would have accrued from the manufacture of the whole quantity of cotton exported in 1808, we submit a sketch of its results. Dr. The Industry of the United States. To 90,000,000 pounds of By 270,000,000 cotton at 30 Cr. yards of cloth at 20 cents 54,000,000 cents per lb. 27,000,000 * Statistics, p. 92. + Idem, p. 152. To these facts particular attention is requested. The imports of cotton into Great Britain in 1815 were 270,000 bags; in 1816, 369,000; in 1817, 377,000; of which considerable quantities were exported to the continent of Europe. Whereas the actual consumption in the United States in 1815, was, as before stated, 90,000 bags; a striking proof of the laudable enterprize and industry of our citizens. We will further suppose that the whole of this cotton 'had been manufactured abroad, and returned to us in a manufactured state, and then exhibit the result. Dr. The United States. To 270,000,000 yards of cloth at 20 cents Cr. By 90,000,000 lbs. 54,000,000 By balance car- Let us examine the result of 90,000,000 lbs. of cotton, manufactured in this country, at the present prices of cot In order further to evince the importance of the cotton manufacture to the wealth and prosperity of nations, we state its extent in, and gain to Great Britain. The fabrics of that staple consumed in, and exported from that country, in 1812, amounted to The cost of the raw material sterling l 29,000,000 6,000,000 1. 23,000,000* $100,000,000 Clear annual gain to the nation Equal to, above And this all-important manufacture, for which the United States are peculiarly adapted from the possession of, and capacity of producing the raw material to a boundless extent, has been half strangled by our tariff! What agonizing reflections this view of the subject forces on the mind! Having discussed the subject of the cotton manufacture, we proceed to take a view of the woollen, which is equally deserving of the most serious consideration. By a report of the committee of commerce and The raw material amounted to 7,000,000 12,000,000 $12,000,000 19,000,000 50,000 50,000 100,000 Analysis. I. By this manufacture, articles were produced in the United States, which would otherwise have been imported, to the amount of Deduct price of wool, which, but for this branch, would have been exported Clear saving to the country $19,000,000 7,000,000 12,000,000 I. Seven millions of dollars expended among the farmers, for the wool of about 5,000,000 sheep. * Colquhoun on the Power and Resources of Great Britain, p. 31. Supra, page 136. |