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338 CORRESPONDENCE AND PUBLIC PAPERS.
of these States are compelled by law as well as allured by
fashion and habit to receive their manufactures and luxuries
from the mother country. She must reap the full benefit of
such improvement, population, produce, and wealth. It may
be said, that this check upon the exportation of provisions
from the parent State would, by reducing the price of grain,
discourage agriculture; to this I would observe, that it is
extremely doubtful whether it would occasion such reduction ; secondly, that if it did, it would be beneficial to the
community. My doubt upon the first head arises from this
consideration ; if, as I maintain, the increased wealth and
population of the islands occasioned an increased consumption of the manufactures of the mother country, the
provisions that formerly fed the planters abroad are now
consumed at home by the manufacturer, and the price of
provisions stands where it did, with this clear advantage to
the mother country, that by the cheapness of living on the
islands, she has increased the number of subjects, who till
the earth for her abroad, and by the same means has added
to the people, who make her strength and riches at home.
My second position is grounded upon the competition,
that prevails at this moment among the maritime manufacturing nations of Europe, France and England particularly.
The nation that undersells its rival in foreign markets will
sap the foundation of her wealth and power. The nation
that can maintain its manufactures, and navigate its vessels
at the cheapast rate, will undoubtedly enjoy this advantage,
all things else being equal. It is obvious, that the price of
labor is regulated by that of provisions, that manufacturers
never earn more than a bare subsistence. If so, where
provisions are cheap, manufactures can be carried on to
most advantage. Of this, the East Indies are a striking
proof. In proportion, too, to the price of provisions and
the price of labor, which depends upon it, must be the
expense of building and navigating ships. Both these
| Title | The correspondence and public papers of John Jay - 2 |
| Creator | Jay, John |
| Publisher | G.P. Putnam's Sons |
| Place of Publication | New York, London |
| Date | [1890-93] |
| Type | Books/Pamphlets |
| Title | 00000359 |
| Type | Books/Pamphlets |
| Transcript | 338 CORRESPONDENCE AND PUBLIC PAPERS. of these States are compelled by law as well as allured by fashion and habit to receive their manufactures and luxuries from the mother country. She must reap the full benefit of such improvement, population, produce, and wealth. It may be said, that this check upon the exportation of provisions from the parent State would, by reducing the price of grain, discourage agriculture; to this I would observe, that it is extremely doubtful whether it would occasion such reduction ; secondly, that if it did, it would be beneficial to the community. My doubt upon the first head arises from this consideration ; if, as I maintain, the increased wealth and population of the islands occasioned an increased consumption of the manufactures of the mother country, the provisions that formerly fed the planters abroad are now consumed at home by the manufacturer, and the price of provisions stands where it did, with this clear advantage to the mother country, that by the cheapness of living on the islands, she has increased the number of subjects, who till the earth for her abroad, and by the same means has added to the people, who make her strength and riches at home. My second position is grounded upon the competition, that prevails at this moment among the maritime manufacturing nations of Europe, France and England particularly. The nation that undersells its rival in foreign markets will sap the foundation of her wealth and power. The nation that can maintain its manufactures, and navigate its vessels at the cheapast rate, will undoubtedly enjoy this advantage, all things else being equal. It is obvious, that the price of labor is regulated by that of provisions, that manufacturers never earn more than a bare subsistence. If so, where provisions are cheap, manufactures can be carried on to most advantage. Of this, the East Indies are a striking proof. In proportion, too, to the price of provisions and the price of labor, which depends upon it, must be the expense of building and navigating ships. Both these |
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