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manufactories to be 'common nuisances；' not excepting iron works；
notwithstanding that the country possessed in the greatest
abundance all the requisite materials for the manufacture of iron。
Even more recently； namely； in 1770； the great Chatham； made uneasy
by the first manufacturing attempts of the New Englanders； declared
that the colonies should not be permitted to manufacture so much as
a horseshoe nail。
To Adam Smith belongs the merit of having first pointed out the
injustice of this policy。
The monopoly of all manufacturing industry by the mother
country was one of the chief causes of the American Revolution； the
tea duty merely afforded an opportunity for its outbreak。
Freed from restrictions； in possession of all material and
intellectual resources for manufacturing work； and separated from
that nation from which they had previously been supplied with
manufactured goods； and to which they had been selling their
produce； and thus thrown with all their wants upon their own
resources： manufactures of every kind in the North American free
states received a mighty stimulus during the war of revolution；
which in its turn had the effect of benefiting agriculture to such
an extent that； notwithstanding the burdens and the devastation
consequent upon the then recent war； the value of land and the rate
of wages in these states everywhere rose immensely but as； after
the peace of Paris； the faulty constitution of the free states made
the introduction of a united commercial system impossible； and
consequently English manufactured goods again obtained free
admission； competition with which the newly established American
manufactories had not strength enough to bear； the prosperity which
had arisen during the war vanished much more quickly than it had
grown up。 An orator in Congress said afterwards of this crisis： 'We
did buy； according to the advice of modem theorists； where we could
buy cheapest； and our markets were flooded with foreign goods；
English goods sold cheaper in our seaport towns than in Liverpool
or London。 Our manufacturers were being ruined； our merchants； even
those who thought to enrich themselves by importation； became
bankrupt； and all these causes together were so detrimental to
agriculture； that landed property became very generally worthless；
and consequently bankruptcy became general even among our
landowners。'
This condition of things was by no means temporary； it lasted
from the peace of Paris until the establishment of the federal
constitution； and contributed more than any other circumstance to
bring about a more intimate union between the free states and to
impel them to give to Congress full powers for the maintenance of
a united commercial policy。 Congress was inundated with petitions
from all the states New York and South Carolina not excepted
in favour of protective measures for internal industry； and
Washington； on the day of his inauguration； wore a suit of
home…manufactured cloth； 'in order；' said a contemporary New York
journal； 'in the simple and impressive manner so peculiar to this
great man； to give to all his successors in office and to all
future legislators a memorable lesson upon the way in which the
welfare of this country is to be promoted。' Although the first
American tariff （1789） levied only light duties on the importation
of the most important manufactured articles； it yet worked so
beneficially from the very first years of its introduction that
Washington in his 'Message' in 1791 was able to congratulate the
nation on the flourishing condition of its manufactures；
agriculture； and trade。
The inadequacy of this protection was； however； soon apparent；
for the effect of the slight import duties was easily overcome by
English manufacturers； who had the advantage of improved methods of
production。 Congress did certainly raise the duty on the most
important manufactured articles to fifteen per cent； but this was
not till the year 1804； when it was compelled； owing to deficient
customs receipts； to raise more revenue； and long after the inland
manufacturers had exhausted every argument in favour of having more
protection； while the interests opposed to them were equally
strenuous upon the advantages of free trade and the injurious
effects of high import duties。
In striking contrast with the slight progress which had； on the
whole； been made by the manufacturers of the country； stood the
improved condition of its navigation； which since the year 1789；
upon the motion of James Madison； had received effectual
protection。 From a tonnage of 200；000 in 1789 their mercantile
marine had increased in 1801 to more than 1；000；000 tons。 Under the
protection of the tariff of 1804； the manufacturing interest of the
United States could just barely maintain itself against the English
manufactories； which were continually being improved； and had
attained a colossal magnitude； and it would doubtless have had to
succumb entirely to English competition； had it not been for the
help of the embargo and declaration of war of 1812。 In consequence
of these events； just as at the time of the War of Independence；
the American manufactories received such an extraordinary impetus
that they not only sufficed for the home demand； but soon began to
export as well。 According to a report of the Committee on Trade and
Manufactures to Congress in 1815； 100；000 hands were employed in
the woollen and cotton manufactures alone； whose yearly production
amounted to the value of more than sixty million dollars。 As in the
days of the War of Independence； and as a necessary consequence of
the increase in manufacturing power； there occurred a rapid rise in
all prices； not only of produce and in wages； but also of landed
property； and hence universal prosperity amongst landowners；
labourers； and all engaged in internal trade。
After the peace of Ghent； Congress； warned by the experience of
1786； decreed that for the first year the previous duties should be
doubled； and during this period the country continued to prosper。
Coerced； however； by powerful private interests which were opposed
to those of the manufacturers； and persuaded by the arguments of
theorists； it resolved in the year 1816 to make a considerable
reduction in the import duties； whereupon the same effects of
external competition reappeared which had been experienced from
1786 to 1789； viz。 ruin of manufactories； unsaleability of produce；
fall in the value of property and general calamity among
landowners。 After the countr