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of the articles imported, may, in time, produce the supply at home, and thus give a new direction to the exchanges of a country, but it is also true, that a tax on the exports, by diminishing at home the price of the raw material, may have the same effect, and with no greater burden to the grower. Whether the situation of the South will be materially benefitted by this new direction to its exchanges, will be considered hereafter; but whatever portion of our foreign exchanges may in fact remain in any stage of this process of changing her market, must be governed by the rule laid down. Whatever duty may be imposed to bring it about, must fall on the foreign trade which remains, and be paid by the South almost exclusively; as much so as an equal amount of duty on their exports.
Let us now trace the operation of the system in some of its prominent details, in order to understand with greater precision, the extent of the burden it imposes on us, and the benefits which it confers, at our expense, on the manufacturing states.
The committee in the discussion of this point will not aim at minute accuracy. They have neither the means nor the time requisite for that purpose, nor do they deem it necessary, if they had, to estimate the fractions of gain or loss on either side, in transactions of such great magnitude. The exports of domestic produce in round numbers, may be estimated at averaging $53,000,000, annually, of which, the States growing Cotton, Rice and Tobacco, produce about $35,000,000. The average value of the exports of Cotton Tobacco and Rice, for the last four years, exceed $35,500,000, to which if we add Flour, Lumber, Corn, and various other articles, exported from the same States, but which cannot be distinguished on the Custom House books from exports of the same description from the other States, the amount must be equal to that stated. Taking it at that sum, the exports of the Southern or staple States, and of the other States, will then stand as $37,000,000 to $16,000,000, considerably exceeding the proportion of two to one, while their population, estimated in federal numbers, is the reverse, the former sending to the House of Representatives 76 members, and the latter 137. It follows that one third of the Union exports near two thirds of the domestic products. Such then is the amount of labour which our country annually exchanges with the rest of the world, and such our proportion. The government is supported almost entirely by a tax on this exchange, in the shape of an import duty, the gross amount of which is annually about $23,000,000 as has been already stated. Previous to the passing of the act of the last session, this tax averaged about 37½ per cent. on the value of the imports. What addition that has made, it is difficult with the
B
