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unequivocal　manner。



　　　　Chaptal's　work　on　French　industry　is　nothing　less　than　a



defence　of　the　French　commercial　policy；　and　an　exposition　of　its



results　as　a　whole　and　in　every　particular。　The　tendency　of　this



work　is　expressed　in　the　following　quotation　from　it。　'Instead　of



losing　ourselves　in　the　labyrinth　of　metaphysical　abstractions；　we



maintain　above　all　that　which　exists；　and　seek　above　all　to　make　it



perfect。　Good　customs　legislation　is　the　bulwark　of　manufacturing



industry。　It　increases　or　lessens　import　duties　according　to



circumstances；　it　compensates　the　disadvantages　of　higher　wages　of



labour　and　of　higher　prices　of　fuel；　it　protects　arts　and



industries　in　their　cradle　until　they　at　length　become　strong



enough　to　bear　foreign　competition；　it　creates　the　industrial



independence　of　France　and　enriches　the　nation　through　labour；



which；　as　I　have　already　often　remarked；　is　the　chief　source　of



wealth。'（4*）



　　　　Charles　Dupin　had；　in　his　work　'On　the　Productive　Powers　of



France；　and　on　the　Progress　of　French　Industry　from　1814　to　1847；'



thrown　such　a　clear　light　on　the　results　of　the　commercial　policy



which　France　had　followed　since　the　Restoration；　that　it　was



impossible　that　a　French　minister　could　think　of　sacrificing　this



work　of　half　a　century；　which　had　cost　such　sacrifices；　which　was



so　rich　in　fruits；　and　so　full　of　promise　for　the　future；　merely



for　the　attractions　of　a　Methuen　Treaty。



　　　　The　American　tariff　for　the　year　1828　was　a　natural　and



necessary　result　of　the　English　commercial　system；　which　shut　out



from　the　English　frontiers　the　North　American　timber；　grain；　meal；



and　other　agricultural　products；　and　only　permitted　raw　cotton　to



be　received　by　England　in　exchange　for　her　manufactured　goods。　On



this　system　the　trade　with　England　only　tended　to　promote　the



agricultural　labour　of　the　American　slaves；　while　on　the　other



hand；　the　freest；　most　enlightened；　and　most　powerful　States　of　the



Union　found　themselves　entirely　arrested　in　their　economical



progress；　and　thus　reduced　to　dispose　of　their　annual　surplus　of



population　and　capital　by　emigration　to　the　waste　lands　of　the



West。　Mr　Huskisson　understood　this　position　of　affairs　very　well。



It　was　notorious　that　the　English　ambassador　in　Washington　had　more



than　once　correctly　informed　him　of　the　inevitable　consequence　of



the　English　policy。　If　Mr　Huskisson　had　really　been　the　man　that



people　in　other　countries　supposed　him　to　be；　he　would　have　made



use　of　the　publication　of　the　American　tariff　as　a　valuable



opportunity　for　making　the　English　aristocracy　comprehend　the　folly



of　their　corn　laws；　and　the　necessity　of　abolishing　them。　But　what



did　Mr　Huskisson　do？　He　fell　into　a　passion　with　the　Americans　（or



at　least　affected　to　do　so）；　and　in　his　excitement　he　made



allegations　　the　incorrectness　of　which　was　well　known　to　every



American　planter　　and　permitted　himself　to　use　threats　which　made



him　ridiculous。　Mr　Huskisson　said　the　exports　of　England　to　the



United　States　amounted　to　only　about　the　sixth　part　of　all　the



exports　of　England；　while　the　exports　of　the　United　States　to



England　constituted　more　than　half　of　all　their　exports。　From　this



he　sought　to　prove　that　the　Americans　were　more　in　the　power　of　the



English　than　the　latter　were　in　that　of　the　former；　and　that　the



English　had　much　less　reason　to　fear　interruptions　of　trade　through



war；　cessation　of　intercourse；　and　so　forth；　than　the　Americans



had。　If　one　looks　merely　at　the　totals　of　the　value　of　the　imports



and　exports；　Huskisson's　argument　appears　sufficiently　plausible；



but　if　one　considers　the　nature　of　the　reciprocal　imports　and



exports；　it　will　then　appear　incomprehensible　how　Mr　Huskisson



could　make　use　of　an　argument　which　proves　the　exact　opposite　of



that　which　he　desired　to　prove。　All　or　by　far　the　greater　part　of



the　exports　of　the　United　States　to　England　consisted　of　raw



materials；　whose　value　is　increased　tenfold　by　the　English；　and



which　they　cannot　dispense　with；　and　also　could　not　at　once　obtain



from　other　countries；　at　any　rate　not　in　sufficient　quantity；　while



on　the　other　hand　all　the　imports　of　the　North　Americans　from



England　consisted　of　articles　which　they　could　either　manufacture



for　themselves　or　procure　just　as　easily　from　other　nations。　If　we



now　consider　what　would　be　the　operation　of　an　interruption　of



commerce　between　the　two　nations　according　to　the　theory　of　values；



it　will　appear　as　if　it　must　operate　to　the　disadvantage　of　the



Americans；　whereas　if　we　judge　of　it　according　to　the　theory　of　the



productive　powers；　it　must　occasion　incalculable　injury　to　the



English。　For　by　it　two…thirds　of　all　the　English　cotton



manufactories　would　come　to　a　standstill　and　fall　into　ruin。



England　would　lose　as　by　magic　a　productive　source　of　wealth；　the



annual　value　of　which　far　exceeds　the　value　of　her　entire　exports；



and　the　results　of　such　a　loss　on　the　peace；　wealth；　credit；



commerce；　and　power　of　England　would　be　incalculable。　What；



however；　would　be　the　consequences　of　such　a　state　of　things　for



the　North　Americans？　Compelled　to　manufacture　for　themselves　those



goods　which　they　had　hitherto　obtained　from　England；　they　would　in



the　course　of　a　few　years　gain　what　the　English　had　lost。　No　doubt



such　a　measure　must　occasion　a　conflict　for　life　and　death；　as



formerly　the　navigation　laws　did　between　England　and　Holland。　But



probably　it　would　also　end　in　the　same　way　as　formerly　did　the



conflict　in　the　English　Channel。　It　is　unnecessary　here　to　follow



out　the　consequences　of　a　rivalry　which；　as　it　appears　to　us；　must



sooner　or　later；　from　the　very　nature　of　things；　come　to　a　rupture。



What　we　have　said　suffices　to　show　clearly　the　futility　and　danger



of　Huskisson's　argument；　and　to　demonstrate　how　unwisely　England



acted　in　compelling　the　North　Americans　（by　means　of　her　corn　laws）



to　manufacture　for　themselves；　and　how　wise　it　would　have　been　of



Mr　Huskisson　had　he；　instead　of　trifling　with　the　question　by　such



futile　and　hazardous　arguments；　laboured　to　remove　out　of　the　way



the　causes　which　led　to　the　adoption　of　the　American　tariff　of



1828。



　　　　In　order　to　prove　to　the　North　Americans　how　advantageous　to



them　the　trade　of　England　was；　Mr　Huskisson　pointed　out　the



extraordinary　increase　in　the　English　importations　of　cotton；　but



the　Americans　also　knew　how　to　estimate　this　argument　at　its　true



value。　For　the　production　of　cotton　in　America　had　for　more　than



ten　years　previously　so　greatly　exceeded　the　consumption　of；　and



the　demand　for；　this　article　from　year　to　year；　that　its　prices　had



fallen　in　almost　the　same　ratio　in　which　the　export　had　increased；



as　may　be　seen　from　the　fact　that　in　the　year　1816　the　Americans



had　obtained　for　80；000；000　pounds　of　cotton　24；000；000　dollars；



while　in　the　year　1826　for　204；000；000　pounds　of　cotton　they　only



obtained　25；000；000　dollars。



　　　　Finally；　Mr　Huskisson　threatened　the　North　Americans　with　the



organisation　of　a　wholesale　contraband　trade　by　way　of　Canada。　It



is　true　that　under　existing　circumstances　an　American　protective



system　can　be　endangered　by　nothing　so　seriously　as　by　the　means



indicated　by　Mr　Huskisson。　But　what　follows　from　that？　Is　it　that



the　Americans　are　to　lay　their　system　at　the　feet　of　the　English



Parliament；　and　await　in　humility　whatever　the　latter　may　be



pleased　to　determine　from　year　to　year　respecting　their　national



industry？　How　absurd！　The　only　consequence　would　be　that　the



Americans　would　annex　Canada　and　include　it　in　their　Union；　or　else



assist　it　to　attain　independence　as　soon　as　ever　the　Canadian



smuggling　trade　became　unendurable。　Must　we　not；　however；　deem　the



degree　of　folly　absolutely　excessive　if　a　nation　which　has　already



attained　industrial　and　commercial　supremacy；　first　of　all　compels



an　agricultural　nation　connected　with　her　by　the　closest　ties　of



race；　of　language；　and　of　interest；　to　become　herself　a



manufacturing　nation；　and　then；　in　order　to　hinder　her　from



following　the　impulse　thus　forcibly　given　to　her；　compels　her　to



assist　that　nation's　own　colonies　to　attain　independence？



　　　　After　Huskisson's　death；　Mr　Poulett　Thompson　undertook　the



direction　of　the　commercial　affairs　of　England；　this　statesman



followed　his　celebrated　predecessor　in　his　policy　as　well　as　in　his



office。　In　the　meantime；　so　far　as　concerned　North　America；　there



remained　little　for　him　to　do；　for　in　that　country；　without　special



efforts　on　the　part　of　the　English；　by　means　of　the　influence　of



the　cotton　planters　and　the　importers；　and　by　the　aid　of　the



Democratic　party；　especially　by　means　of　the　so…called　Compromise



Bill　in　1832；　a　modification　of　the　former　tariff　had　taken　place；



which；　although　it　certainly　amended　the　excesses　and　faults　of　the



former　tariff；　and　also　still　secured　to　the　American　manufactories



a　tolerable　degree　of　protection　in　respect　of　the　coarser　fabrics



of　cotton　and　woollen；　nevertheless　gave　the　English　all　the



concessions　which　they　could　have　desired　without　England　having



been　compelled　to　make　any　counter　concessions。



　　　　Since　the　passing　of　that　Bill；　the　exports　of　the　English　to



America　have　enormously　increased。　And　subsequently　to　this　time



they　greatly　exceed　the　English　imports　from　North　America；　so　that



at　any　time　it　is　in　the　power　of　England　to　draw　to　herself　as



much　as　she　pl