The Crisis: A Solemn Appeal to the President, the Senate and House of Representatives, and the Citizens of the United States, on the Destructive Tendency of the Present Policy of this Country, on Its Agriculture, Manufactures, Commerce, and Finances. With a Comparison Between the Extraordinary Prosperity of Great Britain, and the General Depression in the United States |
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Adam Smith advantages agriculture Alexander Hamilton amount Average balance of trade bales bankruptcies banks bounties branches Britain calamitous Cambreleng capital cent CHAPTER citizens Civil list commerce congress consequence consumption crop debt depression deprive dollars domestic exports domestic market duties East India cotton employment England enormous equal established Europe evil facturers farmers flour foreign markets French revolution glutted Holt Idem immense importation increase industry interest kets labour lands less linens Liverpool manu manufac manufactures merchants nation nearly paid payment peace Pennsylvania pernicious Philadelphia population portion ports pound sterling pounds currency poverty present probably profit prosperity purchased quantity quarter raise raw material raw produce reduced render respectable revenue rude produce ruin ruinous scarcely silk sinking fund soil sold South Carolina specie staple statesmen supply surplus taxes tion tobacco tonnage trade tures United vendue wealth wholly woollen
Popular passages
Page 17 - But, though it were true that the immediate and certain effect of regulations controlling the competition of foreign with domestic fabrics, was an increase of price, it is universally true that the contrary is the ultimate effect with every successful manufacture. When a domestic manufacture has attained to perfection, and has engaged in the prosecution of it a competent number of persons, it invariably becomes cheaper.
Page 49 - Johnson (though with ten times his talent) ; he 'has also been hurried off, and in so far my prospects of social ' pleasure when I go to London are materially lessened. " We are still agitated here by the consequences of the transition ' from a state of war to a state of peace...
Page 19 - Whatever, besides, tends to diminish in any country the number of artificers and manufacturers, tends to diminish the home market, the most important of all markets for the rude produce of the land, and thereby still further to discourage agriculture.
Page 43 - October last, but has since then been partially removed. " 5. A general suspension of labor, the only legitimate source of wealth, in our cities and towns, by which thousands of our most useful citizens are rendered destitute of the means of support, and are reduced to the extremity of poverty and despair.
Page 20 - Were those high duties and prohibitions taken away all at once, cheaper foreign goods of the same kind might be poured so fast into the home market, as to deprive all at once many thousands of our people of their ordinary employment and means of subsistence.
Page 9 - ... while practical men, too much occupied to weigh theoretical notions of this difficult nature, or to examine their operation in the varied and conflicting movements of traffic and national interests, add their conclusive assent. The adopted opinions thus acquire general reception, and are promulgated as undisputed and unconditional truth, and the sole panacea for existing evils. Our forefathers could not maintain with greater zeal, that a favourable balance of trade and an abundant circulation...