Complete Works. Hamilton Alexander
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Название: Complete Works

Автор: Hamilton Alexander

Издательство: Bookwire

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isbn: 4064066394080

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СКАЧАТЬ of government that they have been able to extend their traffic to a degree so much beyond their natural and comparative advantages.

      Perhaps it may be thought that the power of regulation will be best placed in the governments of the several States, and that a general superintendence is unnecessary. If the States had distinct interests, were unconnected with each other, their own governments would then be the proper, and could be the only, depositories of such a power; but as they are parts of a whole, with a common interest in trade, as in other things, there ought to be a common direction in that as in all other matters. It is easy to conceive that many cases may occur in which it would be beneficial to all the States to encourage or suppress a particular branch of trade, while it would be detrimental to either to attempt it without the concurrence of the rest, and where the experiment would probably be left untried for fear of a want of that concurrence.

      No mode can be so convenient as a source of revenue to the United States. It is agreed that imposts on trade, when not immoderate, or improperly laid, are one of the most eligible species of taxation. They fall in a great measure upon articles not of absolute necessity, and being partly transferred to the price of the commodity, are so far imperceptibly paid by the consumer. It is therefore that mode which may be exercised by the Federal Government with least exception or disgust. Congress can easily possess all the information necessary to impose the duties with judgment, and the collection can without difficulty be made by their own officers.

      They can have no temptation to abuse this power, because the motive of revenue will check its own extremes. Experience has shown that moderate duties are more productive than high ones. When they are low, a nation can trade abroad on better terms, its imports and exports will be larger, the duties will be regularly paid, and arising on a greater quantity of commodities, will yield more in the aggregate than when they are so high as to operate either as a prohibition, or as an inducement to evade them by illicit practices.

      It is difficult to assign any good reason why Congress should be more liable to abuse the powers with which they are entrusted than the State Assemblies. The frequency of the election of the members is a full security against a dangerous ambition, and the rotation established by the Confederation makes it impossible for any state, by continuing the same men, who may put themselves at the head of a prevailing faction, to maintain for any length of time an undue influence in the national councils. It is to be presumed that Congress will be in general better composed for abilities, as well as for integrity, than any assembly on the continent.

      But to take away any temptation from a cabal to load particular articles, which are the principal objects of commerce to particular States, with a too great proportion of duties, to ease the others in the general distribution of expense, let all the duties, whether for regulation or revenue, raised in each State, be credited to that State, and let it, in like manner, be charged for all the bounties paid within itself for the encouragement of agriculture, manufactures, or trade. This expedient will remove the temptation; for as the quotas of the respective States are to the determined by a standard of land, agreeable to the eighth article of the Confederation, each will have so much the less to contribute otherwise, as it pays more on its commerce. An objection, has been made in a late instance to this principle. It has been urged that as the consumer pays the duty, those States which are not equally well situated for foreign commerce, and which consume a great part of the imports of their neighbors, will become contributors to a part of their taxes. This objection is rather specious than solid.

      The maxim, that the consumer pays the duty, has been admitted in theory with too little reserve; frequently contradicted in practice. It is true, the merchant will be unwilling to let the duty be a deduction from his profits, if the state of the market will permit him to incorporate it with the price of his commodity. But this is often not practicable. It turns upon the quantity of goods at market in proportion to the demand. When the latter exceeds the former, and the competition is among the buyers, the merchant can easily increase his price, and make his customers pay the duty. When the reverse is the case, and the competition is among the sellers, he must then content himself with smaller profits and lose the value of the duty, or at least a part of it. When a nation has a flourishing and well-settled trade, this more commonly happens than may be imagined, and it will, many times, be found that the duty is divided between the merchant and the consumer.

      Besides this consideration which greatly diminishes the force of the objection, there is another which entirely destroys it. There is a strong reciprocal influence between the prices of all commodities in a State, by which they, sooner or later, attain a pretty exact balance and proportion to each other. If the immediate productions of the soil rise, the manufacturer will have more for his manufacture, the merchant for his goods; and the same will happen with whatever class the increase of price begins. If duties are laid upon the imports in one State, by which the prices of foreign articles are raised, the products of land and labor within that State will take a proportionate rise; and if a part of those articles are consumed in a neighboring State, it will have the same influence there as at home. The importing State must allow an advanced price upon the commodities which it receives in exchange from its neighbor, in a ratio to the increased price of the article it sells. To know, then, which is the gainer or loser, we must examine how the general balance of trade stands between them. If the importing State takes more of the commodities of its neighbor than it gives in exchange, that will be the loser by the reciprocal augmentation of prices; it will be the gainer if it takes less, and neither will gain or lose if the barter is carried on upon equal terms. The balance of trade, and consequently the gain, or loss, in this respect, will be governed more by the relative industry and frugality of the parties than by their relative advantages for foreign commerce.

      Between separate nations this reasoning will not apply with full force, because a multitude of local and extraneous circumstances may counteract the principle; but from the intimate connections of these States, the similitude of governments, situations, customs, manners, political and commercial causes will have nearly the same operation in the intercourse between the States, as in that between the different parts of the same State. If this should be controverted, the objection drawn from the hypothesis of the consumer paying the duty must fall at the same time; for as far as this is true it is as much confined in its application to a State within itself as the doctrine of a reciprocal proportion of prices.

      General principles in subjects of this nature ought always to be advanced with caution; in an experimental analysis there are found such a number of exceptions as tend to render them very doubtful; and in questions which affect the existence and collective happiness of these States, all nice and abstract distinctions should give way to plainer interests, and to more obvious and simple rules of conduct.

      But the objection which has been urged ought to have no weight on another account. Which are the States that have not sufficient advantages for foreign commerce, and that will not in time be their own carriers? Connecticut and Jersey are the least maritime of the whole; yet the Sound which washes the coast of Connecticut has an easy outlet to the ocean, affords a number of harbors and bays very commodious for trading vessels. New London may be a receptacle for merchantmen of almost any burthen; and the fine rivers with which the State is intersected, by facilitating the transportation of commodities to and from every part, are extremely favorable both to its domestic and foreign trade.

      Jersey, by way of Amboy, has a shorter communication with the ocean than the city of New York. Prince's Bay, which may serve as an outport to it, will admit and shelter in winter and summer vessels of any size. Egg Harbor, on its southern coast, is not to be despised. The Delaware may be made as subservient to its commerce as to that of Pennsylvania, Gloucester, Burlington, and Trenton, being all conveniently situated on that river. The United Provinces, with inferior advantages of position to either of these States, have for centuries held the first rank among commercial nations.

      The want of large trading cities has been sometimes objected as an obstacle to the commerce of these States; but this is a temporary deficiency that will repair itself with the increase of population and riches. The reason that the States СКАЧАТЬ