Principles of Political Economy

Cover Principles of Political Economy
Principles of Political Economy
Arthur Latham Perry
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John Randolph moved, to strike out from the bill the proviso for the cotton minimum, and argued at some length " against the propriety of promoting the manufacturing establishments to the extent and in the manner proposed by the bill, and against laying up 8000 tons of shipping now employed in the East India trade, and levying an immense tax on one portion of the community to put money into the pockets of another" Calhoun rejoined: " Until the debate assumed this new form, he had determined to ...be silent ; participating, as he largely did, in that general anxiety which is felt, after so long and laborious a session, to return to the bosom of our families. It has been objected to that bill, that it will injure our marine, and consequently impair our naval strength. How far it is fairly liable to this charge, he was not prepared to say. He hoped and believed it would not, at least to any alarming extent, have FOREIGN TRADE. 499 that effect immediately ; and he firmly believed that its last- ing operation would be highly beneficial to our commerce.

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