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The Economist 1843-12-02: Vol 1 Iss 14

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The Economist 1843-12-02: Vol 1 Iss 14 —Ehe Economist: OR THE POLITICAL, COMMERCIAL, AGRICU LTURAL, AND FREE-TRADE JOURNAL. ee of our duty; if, on the contrary, we do not stretch and expand our minds to the compass of thei ‘If we make ourselves too little for the sphere } well assured that everything about us will dwindle by degrees, until at len th our concerns are shrunk to the dimensions of our minds Iti te f a false estimation of our interest, or prevent the shameful dilapidat int predilection to mean, sor lid, home bred cares that will avert the consequences —BuRKE which a great empire must fall by mean reparation upon righty ruins, a = re Rn No. 14. SATURDAY, DECEMBER 2, 1843. Price 64 which was immediately acted upon; and, for the time b NOTICE TO OUR READERS. they abandoned the hope of any of their manufactures out!iy the competition which the renewed intercourse with Enelan would bring uponthem. Unfortunat: ly, however, for all parties The Second Statistical Number ts published this day, and is the termination of our ‘political wars was followed by th: coru- on sale with the paper, or separately. mencement of a system of commercial hostilities, under th In consequence of the great demand for the Preliminary Num- tence of protection to nativéindustry, which has had the twefold disastrous effects of checking improvements in agricultui of upwards of Forty Thousand being ber, the original impression home, and fostering competition to our manufactures abroad exhausted, a reprint of Thirty Thousand Copies ts published At that period the superior mechanical advantages which w this week, and may be had singly, or with the other numbers. possessed gave us the uncontested command of all the new mat kets of the world, and a decided superiority in all the old marke for though our wages were two or threefold higher than THE CHINESE AND FRENCH TREATIES. rival countries, our mechanical advantages much overbalan¢ disadvantage in the actual cost of our goods, A termination of thi ‘I REATLIES In ( onsequence of our arte les on various CoMMERCIAI wars whit h had SO long interf red with the progr 3; of Industry subject, and a strong having awahened much interest on this and especially of manufactures in l’rance, Belgium, and G re specting desire having heen mani fi sted fo full information naturally enough stimulated the parties everywhere engage their contents, we have determined to furnish our readers with therein to prosecute their pursuits with more ardour in propo perfect copies of the whole of the existing ( ‘OMMERCIAL !REATII tion to the greater certainty which they had of security. But the greatest stimulus which those pursuits obtained was in between this and every other country; and that this may not the hostile laws which we enacted against the introduction of we will give them in Supplements interfere with our other matter, their natural products, thereby disenabling them to b ly our —of eight puges each (gratis ) —once a month until the whole goods, however much they might be disposed to d »: com shall be are compl led: and all future CoMMERCIAL TREATIES pelling them to make what they required for themselves, an given in like manner, so that the volume of the Economist shall furnisi.. g the manufacturers with the best pretence to enfor on their respective governments their claims to protection. contain a perfect copy of existing Treaties from time to tine. The result of this policy did not become apparent for many We will so arrange this that the Supplementary Vumber with years; but it was, notwithstanding, gradually and quictly Number shall follow Commerctat Treaties and the Statistical working: firet, to the exclusion of our gor ds from thi uu- each other at equal distances—t/ former al the beginning and tries, and next to a rivalry in the foreign neutral maz! , rally the one the latter in the middle of each month, so that gene The great want which our continental competitors felt, in the . ° x . L, or the othe) will be received every alternate week. The Jirst first place, was our mechanical power; that they gradually obtained, by persevering efforts, from England ;—ani ultimately, Supplementary Number was presented on the 2\st ult., containing by great establishments of their own, forced into existence only our Treaties with Austria and Denmark, and the Chinese Tariff by our futile laws against the exportation of machinery, they and the second was conve rted wmto English Monte s and Mi assures; became comparatively independent of us, even for thi clement presented on the 18th inst., containing the offi ial copy of the of cheapness. The same individual who told the ale cdots ab ve Chinese Treaty, and our Commercial Treaties with France. related is himself now one of the owners of one of the finest ma- chine establishments in Europe. ‘Those laws have been abolished, rR EE eee eee cee eee after all the mischief is done of trausplanting this important CONTENTS. branch of trade to other countries, and the consequence is, that we must not much longer calculate on any advanta to our productions from this source. Machinery, Wages, and Pauperism Spain - Partiesand Politics - - Turkey - ) We would not wish to be understood to express a desire that Postage Committee - - L'nited States - - 256 Eviis of the American Tariff Correspondence and Answers to Inquiries the manufactures of the world should have been monopolised by A griculturc - . Postscript ° » - 257 Kingland, or that we ought not to have expected that othe: Court and Aristocracy ° ° . Commercial Epitor “ - - 257 lhe Provinces ° ° ° Political Epitom ‘ ° - 28 would, whatever had been the policy pursued by bl England Aldi, LAKE Treland - - . - - Miscellanies of Trade - - - 9 The Metropolis - - . : - Miscellanea : - - 260 progress in these pursuits. What we complain of is that this Scotland . - Commerce and Commercial Markets - 260 aud other countries should be compelled by restrictive la to Theatricals . am ° ? ‘ Current ’ I Increase of Population and Decvease in 1 Markets) - - - - - - 61 abandon those pursuits for which they are best calculated, and Consumption - - - - 248 1 Averages - 61 to follow those for which they have not the same natural fitnes Ihe American and Canadian Corn and Smithfield Market . ; a . 61 Provision Trades cs os 48 | Borough Hop Market \ or facilities, and thus injure the general condition of produc Agricultural Varieties - . - “48 Coal Market i Court of Exchequ . - 248 | The Gazette - - - - - - 261 and consumers everywhere. We are well satisfied t] he ti Monthly Meeting of the League - 249! Marriages - : ° ° Meeting at Salisbury - - - - 55 | Deaths i . y interest of England is that every other country shall | ros Foreign Advertisements - - - - « v62 perous—truly prosperous—whether in manufa tur re r agricul France - - - - . - OF ture ; for let men never forg t that great productiy r. ee ee communicates great consumptive ability, and the ric] cou tries become, the more they require, directly and indirectly, the MACHINERY, WAGES, AND PAUPERISM. administration of industry and commerce. We cannot arr Some time ago, when conversing with an eminent banker in the progress of manufactures on the continent, nor would it b Brussels he related the following anecdote :—At the termination desirable for us to do so if we could, unless we could divert their of the continental war in 1815, he being then the youngest attention and capital to a more profitable occupation. But let partner in the firm, was sent to England for the purpose of us dispassionately examine the effect which their progr hi leisurely surveying the condition of the different branches of had and must have on the condition of this country, and « pe- manufactures, as compared with those in the north of France, cially on that of the labouring classes, in whose inte1 all in Belgium, and in the Rhenish provinces of Prussia, in all of others are essentially bound up. which the emineut firm alluded to had great interests. Vor In an article in a recent number, Wages, Profits, « Free some years England had been comparatively a sealed book to Trade, we showed very clearly the strict identity of interests our neighbours on the continent, and we shall never forget the between the employer and employed—the capitalist and th expression of our friend as he described it, when, after a few labourer; and that the profit of the one and the y of the days’ residence in Manchester, he had discovered the progress other were regulated by circumstances over which neither the this country had made in mechanical power. Alarmed at the one nor the other had any control—that supply and demand great difference which he found existed in the comparative alone regulated both—that the proportion of supply and de- powers of cheap production which this country possessed over mand was determined by ovr ability to sustain the com the continent, he wrote to his friends to lose no time in disposing petition of other countries in the great markets of the world; of the whole of their manufacturing property of every description, and that hence in those foreign countries the rates of profits and THE ECON ,OMIST. [December 2 + wages of this country were fixed. By reference to Table XV, Suppose ‘the present ‘laws to be. maintained, let us eXamine page 182, of the last Statistical Number , it will be seen that shortly what must be the effect ; and, for this eeepose, let us take two-thirds of our whole exports go to the gr at neutral markets it for granted that the lowest rate at which & man can be of tl orld, in open competition with all other countries, and maintained in this country is seven shillings per week, and one-thi " nly to our own colonies where we have a pretended that when he cannot obtain that wages he must become a protection.
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