The Tariff Speech of Jonathan Chace of Rhode Island in the House of Represent
The Tariff Speech of Jonathan Chace of Rhode Island in the House of Represent
Jonathan Chace
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Scattered all over the country are thousands of men working upon various mechanical productions in which the relative value of the raw material, although rarely equal, in some cases approaches this, and in a very large number of cases the proportion is so great as to render the material an item not worthy of consideration tools for repairing watches, mathematical instruments, making telescopes and other opti- cal instruments, making ieweler's tools, and a thousand other indus- tries. There is a...n important reason for the demand for duties on articles in which we can compete. Without them we should be subject to ruin- ous competition by English manufacturers sending their goods to this market and selling them below cost in order to break down our industries. They organize themselves with their immense capital to break down for- eign competitors, and when they have secured the markets put up prices and reimburse themselves. To illustrate, let us take the watch indus- try. The duty upon watches and materials under the tariff of 1840 was 10 per cent.
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