laid out, would only receive three and a third per cent. Now the foreign manufacturer has a capital from his father, which is useless to him, if not employed. Say his buildings, machinery, and 50,000 dollars current capital, produce him 15,000 dollars. If he finds foreigners, who heretofore purchased from him, attempting to set up for themselves, will it not be good policy in him to reduce his profits two thirds, to ruin his incipient rivals? Mr. Brougham, in the House of Commons, used the following language, when speaking of the loss to merchants by an excessive exportation of manufactures:--_it was worth while to incur a loss, in order, by the glut, to stifle in the cradle those rising manufactures in the United States, which the war had forced into existence, contrary to the natural course of things_. "Would it not have been humane and judicious in Congress, to have prevented this ruinous glut, which contributed, with the order to resume specie payments, to crush our manufactures, merchants, and storekeepers, and to injure our farmers, &c.? How have foreigners obtained above 30,000,000 of our stocks, but by manufactures? The importation of manufactures is now much diminished, and manufactures are rising, and the price of labour falling. Will, however, any prudent man commence manufacturing till shielded {464} from a glut? Our manufactures, till then, cannot prosper, and we must remain dependent on foreigners. If all men relied upon handicraft, as formerly, then the general rule, before alluded to, would apply, and we might be supplied by home-spun. Were all patriots, the nation would prefer home-spun, if even a little dearer than foreign articles of a similar kind; but, as many will prefer their own to the general interest, the general government must, in respect to foreign commerce, interfere. The farmer in England obtains from 8_s._ to 10s. a bushel for his wheat; our farmers obtain 4_s._ 6_d._; the manufactures in England amount to about 100,000,000_l._ sterling; ours, to less than that amount in dollars.