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Editorial
September 14, 1829
Daily Richmond Whig
Richmond, Virginia
What is this article about?
The editorial quotes a British article criticizing reliance on foreign food supplies as hazardous, then argues against free trade by noting Britain's protection of agriculture through corn laws and high prices, urging the US to similarly protect its own industries and agriculture rather than buying cheap British goods without means to pay.
OCR Quality
98%
Excellent
Full Text
Sound Reasoning.-In an article in Bell's Weekly Messenger on the "Distress arising from the restricted circulation of the country," we find the following passage. "The reliance on other countries for food is the most hazardous state of dependence in which a nation can be placed; it is the phrenzy of the political economists, and the maxim of those who without any regard to country or to any civil institutions, think all good to be summed up in buying cheap and selling dear."
We are repeatedly told by the friends of free-trade, that our restrictive policy prevents Great Britain from taking from us our bread-stuffs. But the fallacy is sufficiently exposed, when we find efforts made on all hands to preserve the English corn laws, and to sustain a state of currency favorable to high prices. Great Britain does not want our corn, and will take it only in times of scarcity. She protects her home industry-her agriculture. And shall we do less? What would be the object to Great Britain of buying corn cheap, if her agriculturists were to be starved and ruined? And we may ask, what object is there in this country in purchasing British manufactures dog cheap, if we have not the money with which to pay for them?
We are repeatedly told by the friends of free-trade, that our restrictive policy prevents Great Britain from taking from us our bread-stuffs. But the fallacy is sufficiently exposed, when we find efforts made on all hands to preserve the English corn laws, and to sustain a state of currency favorable to high prices. Great Britain does not want our corn, and will take it only in times of scarcity. She protects her home industry-her agriculture. And shall we do less? What would be the object to Great Britain of buying corn cheap, if her agriculturists were to be starved and ruined? And we may ask, what object is there in this country in purchasing British manufactures dog cheap, if we have not the money with which to pay for them?
What sub-type of article is it?
Economic Policy
Trade Or Commerce
Agriculture
What keywords are associated?
Free Trade Critique
Corn Laws
Agricultural Protection
Protectionism
British Agriculture
Us Trade Policy
Economic Dependence
What entities or persons were involved?
Great Britain
Bell's Weekly Messenger
Political Economists
Friends Of Free Trade
English Corn Laws
Editorial Details
Primary Topic
Defense Of Protectionism Against Free Trade
Stance / Tone
Supportive Of Agricultural Protection And Restrictive Trade Policies
Key Figures
Great Britain
Bell's Weekly Messenger
Political Economists
Friends Of Free Trade
English Corn Laws
Key Arguments
Reliance On Foreign Food Is Hazardous Dependence
Free Trade Maxim Of Buying Cheap And Selling Dear Ignores National Interests
Britain Protects Agriculture Via Corn Laws And High Prices
Us Restrictive Policy Does Not Hinder British Imports Of Us Bread Stuffs
Britain Buys Us Corn Only In Scarcity
Us Should Protect Its Own Agriculture And Industries Like Britain Does
Buying Cheap British Manufactures Is Pointless Without Money To Pay