It is yet too soon to
pronounce with confidence that this prediction was erroneous. The
obstruction of one avenue of trade not unfrequently opens an issue to
another. The consequence of the tariff will be to increase the
exportation and to diminish the importation of some specific articles;
but by the general law of trade the increase of exportation of one
article will be followed by an increased importation of others, the
duties upon which will supply the deficiencies which the diminished
importation would otherwise occasion. The effect of taxation upon
revenue can seldom be foreseen with certainty. It must abide the test of
experience. As yet no symptom? of diminution are perceptible in the
receipts of the Treasury. As yet little addition of cost has even been
experienced upon the articles burdened with heavier duties by the last
tariff. The domestic manufacturer supplies the same or a kindred article
at a diminished price, and the consumer pays the same tribute to the
labor of his own countryman which he must otherwise have paid to foreign
industry and toil.
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