uthority to the manufacturers to draw this sum self. It is adjusted much more effectually by an aually from the income of the planters. the operation of those general principles of Money is a mere measure of value, and if trade which I have already explained, by which your restrictive laws increase the money price money is accumulated and depreciated in the of manufactures fifty per cent., while they cer- United States. The money which the gentletainly add nothing to the money price of cot-man pays me, costs him just as much less in doton, they, in effect, enact, that the planter shall mestie manufactures as will be equivalent to give a bale and a half of cotton for the quanti-the protecting duty, and will be precisely that ty of manufactures, which he has a natural right much less valuable to me, for the purchase of to acquire for a single bale. manufactures, or to any other person, to whom

The honorable gentleman from Massachu- I may pass it. sets, who last spoke on this subject, (Mr. Ev There is no evading the consequence, thereBarr,) advanced a plausible and ingenious re- fore, that the real price or exchangeable value ply to the argument which affirms that the pro- of cotton is diminished in proportion to the intective duties operate as a peculiar burthen to crease of the average money price of all the the cotton planters. If, said he, the cotton articles, foreign and domestic for which cotplanter is the producer of the manufactures ton is ultimately exchanged. But the gentleobtained for his cotton, he can only be so in the man from Louisiana, (Mr. BULLARD,) who some same sense in which it may be said that the days ago delivered us a very instructive expoconsumer of those manufactures is the producer sition of the cotton planting business, declared of them. Now, Sir, although there is some his disbelief of the doctrine that the value of thing imposing in this view at first, it dwindles cotton is diminished by the duty imposed upinto a mere plausible play upon words when on the privilege of exchanging it for foreign thoroughly examined. manufactures, and gave, as the ground of his The cotton planters produce imported manu- disbelief, a reason which, whatever else may factures by an exchange abroad, and upon this be said of it, is certainly free from all mystiexchange the protecting duty is levied where- cism or subtility. He stated, with an air at as, all other consumers produce these manufuc- once of great simplicity and apparent triumph, tures by a domestic exchange upon which no du- that he went to market and sold his cotton for ty is levied. money, and when he got the money he did

I will take the case put by the gentleman just what he pleased with it, without being himself. He said he was obliged to use my cot-conscious of any compulsion from any quarter. tou to purchase British broadcloths, and the Now, Sir, I do not know what that gentleman manufactures he had occasion to consume.- may please to do with his money; but he must Very well, Sir. And pray what does the gen- be differently constituted from other men, certlemen give me for my cotton? He pays me in tainly from me, if he can do what he pleases domestic manufactures which are enhanced in with his money when the government hedges price by the protecting duties, to an amount him round by this protecting system, and com-fully equivalent to the duties he will have to pay pels him, under a heavy penalty, to make his on his imported broadcloths. And, although purchases here, when he could obtain forty or the gentlemen may, in point of fact, give fifty per cent. more, if permitted to go abroad me money for my cotton instead of domestic without any restriction. Pray, Sir, might not manufactures, it will not make a shadow of va- the inmate of a penitentiary allege that he riation in the the case, because it is obvious was a freeman upon the same principle, if the that money is a mere representative, and that humanity of his keepers should permit him to the whole of this domestic commerce between make what he could within the walls of his prithe north and the south, ultimately resolves it- son, and to sell the products of his industry for self into an exchange of cotton, and other sta- whatever price they might choose to give him ples, for domestic northern manufactures. And for them? Freedom, in the use of my property even in the case where the payment for my and my faculties, involves the idea, not only that cotton is made by the gentleman in money, it is I may make what I please by my labor, but that very certain that if he buys fifteen bales of this I may go where I please to exchange it for cotton for the express purpose of supplying his other productions. If I am prevented from Fannual consumption of British manufactures, he going abroad for this purpose, my country is, can afford to give me, and will in fact give me, in this respect, converted into a great prison no more for these fifteen bales than he could house. On the contrary, if you will allow me have given me, and would have given me, for ten the unrestricted privilege of going to Liverpool les, if the Government did not take one-third with my dollars, I can make them fifty per part of the foreign manufactures for which he cent. more valuable than the gentleman from proposed to exchange them. In other words, Louisiana can make his, with his boasted penififteen bales of cotton are worth no more, for tentiary privilege of doing what he pleases with the purposes of the gentleman as a consumer of them. British manufactures, than ten would be worth

But, said the gentleman, with a very faceunder a system of free trade, and he certainly tious and ironical air, "I feel no oppression; I would not be guilty of the folly of giving me am wholly unconscious that I am robbed of any more for my cotton than it is worth. But this thing, and I never heard of any of my constitumatter is not adjusted in point of fact by the ents complain of this system of robbery, of chaffering of the honorable gentleman and my-which so much is said elsewhere." And he seem