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the wants of all the persons, employed in manufacturing pursuits. Will it stimulate the industry of our country, or secure the rewards of labor to the hands, that earn them, by adopting such a course of legislation, as will sacrifice these millions, and turn these thousands out of employment? Certainly not; for in exact proportion as men are made sure in the rewards of honest and useful labor, they become prosperous, virtuous and happy; and in the same proportion as men are deceived and deprived of their just rewards, they become discouraged, vicious and desperate. A course of policy, that will give the greatest stability to the operations of trade, and excite the fewest apprehensions of coming distress and pressure, will best promote the substantial interests of the country. I would, therefore, venture to suggest the only means, that seem practicable to effect this object.

First-I would recommend the immediate adoption of the Sub-Treasury, and that its action upon the currency should be made gradual, by the collection of twenty per cent. of the revenue in specie every year, until the whole amount should be collected in gold and silver.

Secondly-I would recommend, that the changes in the tariff should also be made, to take effect gradually, and that the duties should be of a specific nature, and not on the ad valorem basis; because the latter allows persons devoid of honesty to resort to fraud, and break down every merchant, who may pursue an honorable business; because it subjects the revenue to constant change in amount, just as the prices of imported articles rise and fall, the revenue being least, when the Government needs it most. And, finally, because, when the prices are high and the manufacturer needs no protection, it affords him protection of the amplest kind; but when prices are low, and the manufacturer must, if ever, shield himself under the tariff, but very slight protection is afforded. This will be made apparent by referring to a list of prices of any one leading article for some years back. The price of iron, for example, as shown by

the books of Messrs. Jevon, Banks & Co., of Liverpool, has fluctuated from £15 in 1825, to £4 10 in 1843, per ton, and within the past eighteen months, from £7 to £11. What protection would an ad valorem duty have afforded in 1843, when the English were seeking a market at any price? It must have produced the immediate stoppage of every rolling mill in this country. The same facts would be shown by referring to any other leading article. I would suggest, therefore, as the proper course, that the Government should ascertain as soon as may be practicable, and as accurately as possible, what articles are paying a duty injurious to the best interests of our country, and that the excess of duties, now imposed in a specific form on those articles be gradually reduced, say twenty per cent. per annum, until the whole amount, collected by the operation of the tariff, be barely sufficient to meet the wants of an economical administration of the Government. We should thus gradually arrive at a tariff, based upon a revenue standard, and at the same time afford protection to the manufacturer in such a way, that he could be ready for each change in the tariff, until it reaches the revenue basis.

Thirdly-The Sub-Treasury should be made to take effect at least one year, before any change of the tariff should go into operation, in order to give it time to bring the currency under its influence, and prevent the banks and enemies of the present administration from producing a panic, by operating on the fears and affecting the interests of the community to such an extent, that it might result in a change of administration, and bring again into power those, whose favorite idols are a national bank, a high tariff, and inflated currency, with all their terrific power for mischief, "fertilizing the rich man's field with the sweat of the poor man's brow."

I should hardly have ventured to obtrude my views on these subjects upon your attention, although they are the results of the experience of more than forty years, incessantly devoted to mechanical and mercantile pursuits, were

I not deeply impressed with the conviction, that the masterly policy, sketched out by the Government of Great Britain, will render the action of the present Congress, upon the great questions of the currency and the tariff, more deeply fraught with good or evil to the best interests of the country, than at any period within my recollection. In all the changes, which the wisdom of our Congress shall see fit to adopt, the proposed changes in the commercial policy of Great Britain should be kept strictly in view. That Government finds, that by reason of past restraints on its own commerce, it has eaten its bread for thirty years at $9 per barrel, and that by a radical change of its own policy the price may be reduced to $6 per barrel, thereby widening its own market, already nearly co-extensive with the world, and becoming in our own market a more formidable competitor, in the same proportion as its bread is made cheaper. Will it answer then for this Government, at this moment, to aid the already overgrown capital of Great Britain, to break down the manufactures of our country, that are just struggling into existence, and force these operatives, at present engaged in manufactures, into competition with the agricultural producers, instead of being the consumers of the results of the labor of the latter?

No one more ardently desires a free and unrestricted interchange of commodities between the two countries than myself, and no one more firmly and hopefully believes, that the day will come, when the ports of both nations will be thrown wide open to every flag, that waves upon the ocean-a consummation, which the recent auspicious action of the Senate on the Oregon question is well calculated to forward; but in endeavoring to effect this desirable object, we should not blindly and hastily uproot the very system, which we have for years been endeavoring to encourage; but the change should be made gradual, so as to allow time for the full development of our internal resources, the application of our water powers to the purposes, for which Nature prepared them, the acquirement of the requisite

skill and the investment of the necessary capital to carry on our manufactures successfully. Our fellow citizens would then feel certain of a permanent system, and a sure guarantee, that the just rewards of ingenuity and skill would be secured to individual enterprise; and the good and great of every land, who have their eyes fixed upon this country, as the precursor and harbinger of a better humanity throughout the world, would be cheered and encouraged with the conviction, that after seventy years of independence, both the people of the United States and their Representatives are still looking to the only objects, worthy of a liberal Government-the best interests of all classes in our common country, and the onward progress of free principles.

I have the honor to be,
Very respectfully,

Your obedient servant,

PETER COOPER.

to

LETTER TO HON. H. J. REDFIELD.

NEW YORK, January 17, 1868.

SIR: Your letter, dated December 24, 1867, addressed me, in the Batavia Spirit of the Times, and republished in the EVENING POST of the 6th instant, has, within the past few days, been called to my attention, and I now take the earliest opportunity of replying to it.

I am pleased to receive the views of an old and respected citizen on the subjects on which it treats; and, although we have arrived at different conclusions on these subjects, yet the discussion of them in a frank and kindly manner cannot be otherwise than useful.

For myself, I am indeed conscious, as you remind me, that I am an old man, liable to error and frailty, as we all are, but yet I trust, not so warped either by my prejudices or my interest as to be incapable of the honest investigation of arguments, presented for my consideration, even

though in opposition to long cherished convictions. And I will as frankly say, my dear Sir, that the record of your long and useful life gives assurance, that no unworthy influence will be permitted by you to sway your judgment or influence your conduct in this matter.

I have at the outset to complain of the manner of your reference to the tariff legislation of the country, as calcu lated to convey very incorrect impressions upon that subject, and mislead those, who are uninformed respecting it.

The inference, naturally to be drawn from your letter, would be, that the effort to stimulate domestic manufactures, which you illustrate illustrate by the figure of the people carrying an infant in their arms, was something strange and exceptional in the policy of civilized nations, and contrary to the genius of American institutions. You forgot, that the system of protection to home labor, which you so earnestly condemn, is to-day acted on by every civilized nation on the Earth, and has the sanction of the statesmen and rulers, not only in Europe, but our own country, whose wisdom mankind has acknowledged and universally respects. The principles, Sir, which you denounce with such severity, have been held from the beginning by the founders and great political teachers of the nation, men whom we are accustomed to honor, and whose opinions. have just weight with us on other subjects. Among these I might name Franklin, Jefferson, Madison, Jackson and many others, whose recorded words defend and maintain the doctrine you decry. Of these I shall only quote the words of Jackson, whose advocacy of the principles of protection you seem to doubt.

ANDREW JACKSON ON THE TARIFF.

In writing to Dr. Coleman, in 1824, Andrew Jackson thus fully and unequivocally expressed himself on the tariff question:

"You ask my opinion on the tariff. I answer, that I am

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